"We Envision Growth Strategies Most Suited
to Your Business"

Increasing Surgical Cases to Propel Growth for the Top Wound Care Companies

March 29, 2022 | Healthcare

Physical injuries, such as chronic wounds, surgical wounds, and acute wounds, are treated with support from favorable policies by governments in developed countries. Increasing focus on the development and advancement of wound care products is expected to boost the market growth. According to the report by Fortune Business Insights™, the market for wound care was valued at USD 17.49 billion in 2021 and is set to reach a market valuation of USD 28.23 billion by 2029 at a CAGR of 6.2% during 2022-2029.


COVID-19 Pandemic Led to Decline in Demand


The inception of the COVID-19 pandemic led to the hampering of all industries across the globe, wherein value chains and supply chains of various industries were heavily disturbed. Attributed to lockdowns in several countries, people were denied of, canceled, or postponed elective surgeries. There was a decline in demand for such products during the forecast period, leading to a reduction in market share. However, the market is expected to recover post-pandemic.


The market has experienced a considerable amount of industrial developments in its way. In June 2021, Curam, NUI Galway’s SFI Research Centre for Medical Devices, announced to collaborate with B. Braun Mesungen. The collaboration will result in developing a novel cannabis medication delivery system for effective wound pain treatment and faster healing. They are also expecting to create a wound odor management device. 


Top Wound Care Companies


Fortune Business Insights™ Reports Top 10 Wound Care Companies in the Market:


 


1. 3M


 


Top Wound Care Companies3M is the U.S.-based healthcare multinational conglomerate that was founded in 1902. It is one of the leading players in healthcare products and solutions, including wound care solutions and products. The company holds the largest market share with 18%, making it the largest player in the market. It also recorded sales of USD 8,345 million in the healthcare business.


In October 2019, the company acquired Acelity Inc., a leading global medical technology company that focuses on specialty surgical applications, with the aim to enhance its global presence in the advanced surgical wound care market.


 


2. Smith & Nephew


 


Top Wound Care CompaniesSmith & Nephew also goes by the name of Smith + Nephew. It is a British medical equipment manufacturing company with headquarters in London, U.K. It is the second-largest company in the market with a 9% market share. The company is known for its wide range of products, which generated a revenue of USD 13,100 million in 2020 from the advanced wound management segment.


The company offers various products in the advanced wound management segment such as Advanced Wound Care, Advanced Wound Bioactives, and Advanced Wound Devices.


 


3. Mölnlycke Health Care AB


 


Top Wound Care CompaniesMölnlycke Health Care AB is a Swedish healthcare medical device company founded in 1849, making it one of the oldest healthcare companies in the market. It is the third-largest company in the market with a 7% market share, having its main office in Gothenburg, Sweden. The company generated a revenue of USD 970.2 million from this segment in 2020. It is a leading supplier of surgical products globally, specializing in providing products for the treatment of acute and chronic wounds.


In 2020, the company launched Avance Solo, a new solution for Negative Pressure Wound Therapy (NPWT).


 


4. ConvaTec


 


Top Wound Care CompaniesConvaTec is an Anglo-American medical products and technologies company founded in 1978, with its headquarters in Deeside, U.K. It is the fourth-largest company in the market with a 7% market share. The company’s MedTech business focuses on the chronic care market specializing in four categories, advanced wound care, ostomy care, continence, and critical care. The advanced category includes advanced dressings, biologics, and external devices segments. The company generated a revenue of USD 546.8 million from this market in 2019.


In June 2021, the company collaborated with RLS Global, a Sweden-based medical healthcare company, for the commercialization of ChloraSolv debrider for hard-to-heal wounds.


 


5. Organogenesis