Advanced Wound Care Market Size, Share & COVID-19 Impact Analysis, By Product (Advanced Wound Dressings, Wound Care Devices, and Active Wound Care), By Indication (Diabetic Foot Ulcers, Pressure Ulcers, Surgical Wounds, and Others), By End User (Hospitals, Clinics, Homecare Settings, and Others), and Regional Forecast, 2021-2028

The global advanced wound care market size was USD 10.03 billion in 2020 and is projected to grow from USD 10.84 billion in 2021 to USD 15.92 billion in 2028, at a CAGR of 5.7% in the 2021-2028 period. Based on our analysis, the global market exhibited a decline of -3.9% in 2020. The global impact of COVID-19 has been unprecedented and staggering, with advanced wound care witnessing a negative demand shock across all regions amid the pandemic. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

It is estimated by various studies that around 1 to 2 percent of the population in the developed countries will suffer from a chronic wound once in their lifetime. The developing countries present a large pool of patients suffering from chronic wounds such as diabetic foot ulcers, pressure ulcers, and others. The increase in number of patients undergoing surgeries globally has led to the surge in patient population suffering from surgical wounds. A chronic wound can be classified as a wound which fails to progress through the phases of healing in an orderly and timely sequence and shows no significant improvement in 30 days’ time. Whereas, acute wounds heal through the routine process of inflammation, tissue formation, and remodeling in a short period of time. These wound care products are designed exclusively to treat chronic and acute wounds. These include advanced wound dressings, devices including NPWT, and active therapies such as skin grafts and substitutes.

Economic Burden of Wound Care Treatment to Impact the Market Growth

There is an ever-increasing economic burden for the treatment of chronic and acute wounds being exerted on the healthcare systems in various countries. Thus, the need for cost effective and innovative products is increasing day by day among the patient population. According to the National Institute of Health, diabetic foot ulcers cost an estimated USD 9.0 billion to USD 13.0 billion for treatment in the U.S. alone each year. This is further aggregated by the huge economic cost of treatment of venous leg ulcers and pressure ulcers in the country each year. There is an increased effort to introduce new and advanced products for chronic wounds, with an aim to offer effective and affordable treatment to large pool of elderly patients. For instance, by 2060, the U.S. government estimates that the geriatric population will be over 77 million, suggesting an increase in patient population suffering from chronic wounds. Currently, an estimated 2.0% of the total population in the U.S. is suffering from chronic wounds.

Cancellation of Non-Emergency Procedures Amid Pandemic to Limit the Adoption of Wound Care Products

The impact of the COVID-19 pandemic on certain medical device segments is expected to be more pronounced due to the slowdown in non-emergency procedures and healthcare services. More than 2 million non-emergency procedures were cancelled in the U.K. to free up healthcare resources to fight against the pandemic. Similarly, the hospitals in the U.S. saw a 30-60% decline in hospital visits after the announcement of coronavirus as a pandemic in 2020.

Countries globally had reallocated healthcare resources, such as hospital beds, nurses, essential personnel, and medical devices, for the management of COVID-19 patients. This has resulted in the exemption of wound care from essential procedures list and implementation in the elective procedures list in most countries. Healthcare facilities, including specialized wound care clinics, hospitals with dedicated wound care departments, have been closed with the number of beds available in these settings as they are being utilized for COVID-19 patients. This has led to a significant impact on the number of patient visits to wound centers, and outpatient departments, especially in the U.S., and European countries. According to statistics published by Tissue Analytics, Inc., there was an estimated 40% drop in patient visits in wound centers during March and April 2020, as compared to 2019.

However, the COVID-19 outbreak has negatively impacted the uptake of advanced wound dressings and devices. Healthcare providers have shifted to new models of care for chronic wounds such as telehealth platforms and virtual consultations. This is anticipated to revolutionize the wound management guidelines and lead to a new mode of care in the forthcoming years. Healthcare providers have already identified, noticed, and accepted the “new normal”. They are finding innovative ways to improve the delivery of medical care and quality of life of their patients.

LATEST TRENDS

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Introduction of Active Therapies for Wound Management to Drive the Market Growth

Globally, patients are seeking for urgent and efficient treatment of chronic wounds such as diabetic foot ulcers, pressure ulcers, and venous leg ulcers. Active wound care products, including biological skin equivalents, growth factors have an established and clinically proven efficiency in treatment of hard-to-heal chronic wounds. Currently, there are a handful of players operating in this segment, and these players are focusing on introducing new bioactive products in the market. For instance, in October 2019, Olaregen Therapeutix launched Excellagen Wound Conforming Matrix 3.0 cc pre-filled syringe. Excellagen is an FDA approved Cellular Tissue Product with an indication for the management of wounds including diabetic foot ulcers, venous leg ulcers, and others. Thus, introduction of advanced active therapies by domestic market players has been instrumental in boosting the adoption of skin grafts, collagen dressings, and other active therapies. This key factor will aid the global advanced wound care market growth during the forecast period.

DRIVING FACTORS

Rising Prevalence of Chronic and Acute Wounds to Fuel Demand for Dressings and Devices

The increasing prevalence of chronic wounds, such as diabetic foot ulcers, venous leg ulcers, and acute wounds, including surgical, traumatic wounds globally is expected to increase the number of patients undergoing treatment for chronic wounds. For instance, according to a data published by the Department of Endocrinology of Nanjing University Medical School in 2019, the prevalence of diabetic foot ulcers in North America was estimated to be around 13.0% among diabetic patients. Also, according to the Centers for Disease Control and Prevention, the overall incidence of surgical site infections caused by surgical wounds in the U.S., was around 2.8% in 2019. Thus, increasing prevalence of chronic and acute wounds globally is increasing the uptake of these products for its treatment and subsequently, driving the global market during the forecast period. This is one of the growth factors responsible for driving the market.

Launch of Innovative and Advanced Products is Propelling the Growth of the Market

Technological advancements are expected to have a huge impact on the wound care industry. In February 2019, Axio Biosolutions launched MaxioCel the next generation wound dressing in the global market. MaxioCel is made up of chitosan and is used in the treatment of chronic wounds. In January 2019, Applied Tissue Technologies LLC received the U.S FDA approval for its Platform Wound Dressing (PWD), a negative pressure wound therapy (NPWT) device that eliminates the use of foam dressings. Thus, growing investment in R&D and the introduction of advanced wound healing products by market players are expected to witness a rise in the adoption of wound dressings and active therapies for the management of acute and chronic wounds worldwide.

RESTRAINING FACTORS

High Cost Associated with Devices and Active Therapies to Limit their Adoption

Despite, higher prevalence of chronic and acute wounds globally, certain factors are limiting the market growth opportunities. Among them is the high cost associated with advanced wound products and limited reimbursement for these products in emerging countries. According to economic analysis between wound dressings and NPWT, the average cost of NPWT pumps in the U.S. is around USD 90 while that of a wound dressing is around USD 3. Although various studies have demonstrated the overall cost of treatment by wound dressings is comparatively higher (estimated at USD 350), that NWPT (estimated USD 200) per person, these costs are higher when compared to traditional wound dressings. The cost of treatment is higher for wound care devices, including negative pressure wound therapy, skin grafts, and the cost escalates as the wound progresses from acute to chronic.

Additionally, lack of adequate reimbursement policies especially in emerging countries has limited the adoption of products and devices. A significant proportion of the overall cost of treatment in emerging countries is out-of-pocket cost, which further limits the uptake of advanced wound dressings, and devices, for the treatment of chronic wounds. Considering the above factors, people in these regions prefer traditional wound care products than advanced ones.

SEGMENTATION

By Product Analysis

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Clinical Efficiency of Active Therapies to Boost its Adoption during 2021-2028

Based on product, the market includes advanced wound dressings, wound care devices, and active wound care. The advanced wound dressings segment dominated the advanced wound care market share in 2020. The lower cost of wound dressings and its high efficiency in exudate management of wounds is expected to boost its adoption. The active wound care segment is likely to register substantial CAGR during the forecast period due to increasing applications of active therapies, such as skin grafts and biologics, for treating hard to heal chronic wounds.

However, the wound care device segment is expected to grow at a significant CAGR during the forecast period due to increasing number of market players engaged in introducing advanced devices such as, single-use NPWT, in the global market.

By Indication Analysis

High Cost of Treatment of Diabetic Foot Ulcer is expected to Dominate the Segment

Among indication, the market includes diabetic foot ulcers, pressure ulcers, surgical wounds, and others. Higher prevalence of diabetes globally and increasing incidence of diabetic foot ulcers among diabetic patients are some of the major factors responsible for the dominance of the segment in 2020. According to the National Health Institute (NIH), the global prevalence of diabetic foot ulcers is estimated to be around 6.5%. However, the prevalence is higher in North America (13%), as compared to Asia, which has a comparatively lower prevalence of 5%. The surgical wounds segment is anticipated to project a significant CAGR during the forecast period owing to the increase in the number of surgical procedures coupled with the increasing incidences of surgical site infections (SSI) among patients.

By End-User Analysis

Shift of Patients Toward Homecare Settings to Boost Segmental Growth

In terms of end-user, the market is segmented into hospitals, clinics, home care settings, and others. The hospitals segment is may have a dominant market in the upcoming years. The dominance is because of increased hospital stays of patients suffering from acute or chronic wounds. The clinics segment is expected to exhibit a remarkable CAGR during the forecast period because of increasing stand-alone clinics in emerging and developed countries. During these trying times, home healthcare is one of top services that is available at your doorstep. 

Furthermore, the home care settings segment may register substantial growth by the end of the forecast period owing to the rising preference shift of patients from hospital to home care settings.

REGIONAL INSIGHTS

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The market size in North America stood at USD 4.15 billion in 2020. Rising prevalence of acute and chronic wounds and higher treatment costs associated with pressure ulcers, diabetic foot ulcers, and surgical wounds is expected to boost adoption. For instance, according to the estimations of the Agency for Healthcare Research and Quality, the total medical cost for the management of pressure ulcers in the U.S. ranged from USD 9.1 to USD 11.6 billion per year. Furthermore, the presence of adequate reimbursement policies in the U.S. and Canada, is responsible for North America’s dominance in this market. The European market is expected to grow at a significant CAGR owing to the rising awareness regarding the availability of treatment for chronic wounds and the surging demand for these products. The Asia Pacific market is expected to exhibit healthy growth because of increasing per capita healthcare spending. In addition, market players in this region make heavy investments, which, in turn, will fuel the demand for advanced products for wound management. Latin America and the Middle East & Africa accounted for a comparatively lower market share, because of its underpenetrated market.

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KEY INDUSTRY PLAYERS

Strong Portfolio to Enable Smith & Nephew, ConvaTec Inc., and 3M to Achieve Leading Market Position Globally

The market is consolidated because of astrong product portfolio and remarkable distribution networks of major companies in emerging and developed countries. Currently, Smith & Nephew, ConvaTec, Inc., and 3M lead the market, accounting for a dominant revenue share in 2020. However, the lack of strong barriers for entry may lead to a rising entry of domestic players in the worldwide market. This factor is expected to lead to a slightly fragmented market by the end of 2028. For instance, in July 2021, PolarityTE, Inc. announced the submission of an investigational new drug application (IND) to the U.S. FDA to seek authorization to initiate clinical trials for the SkinTE product in the treatment of chronic cutaneous ulcers.

Other key players, such as Integra Life Sciences, MiMedx, Coloplast Corp, Derma Sciences Inc., Tissue Regenix, Mölnlycke Health Care AB, and Organogenesis Inc., also entered the market with advanced wound care products. The introduction of innovative products, such as NPWT AND advanced wound dressings, and significant investments in development of bioactive therapies for treatment, are some of the major strategies enabling companies to boost their market position.

LIST OF KEY COMPANIES PROFILED:

• Smith & Nephew (London, U.K.)


• 3M (Minnesota, U.S)


• MiMedx (Marietta, Georgia)


• Coloplast Corp (Humlebaek, Denmark)


• ConvaTec Inc. (England, U.K.)


• Tissue Regenix (West Yorkshire, U.S.)


• Derma Sciences Inc. (New Jersey, U.S.)


• Mölnlycke Health Care AB (Gothenburg, Sweden)


• Organogenesis Inc. (Massachusetts, U.S.)


• Integra LifeSciences (New Jersey, U.S.)

KEY INDUSTRY DEVELOPMENTS:

• March 2020–Smith & Nephew announced the U.S. launch of PICO 14 single use negative pressure wound therapy system (sNPWT), which has a pump duration of up to 14 days. This new pump was integrated with features and advantages of previous PICO sNPWT systems and has upgraded pump, which requires less user intervention.


• September 2020 – MIMEDX launched EpiCord Expandable, a placental tissue allograft in the market. The innovative design of this allograft allows the healthcare providers to cover up to twice the surface and is intended to cater to the needs of patients with larger, chronic, and hard-to-heal wounds.

REPORT COVERAGE

An Infographic Representation of Advanced Wound Care Market

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The global advanced wound care market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the advanced market over the recent years.

Report Scope & Segmentation