Chronic Wound Care Market Size, Share and Global Trend By Type of Chronic Wound (Venous Ulcer, Arterial Ulcer, Diabetic Ulcer, Pressure Sore), By Product (Wound Dressings, Wound Treatment Devices, Cleansing Agents, Antibiotics), By End User (Hospitals and Wound Care Centres, Ambulatory Surgery Centres, Homecare Settings), Geography Forecast till 2026

According to a data published in US National Library of Medicine in 2018, an estimated 5.7 million U.S. population is suffering from chronic wounds, and the U.S. spend an estimated US$ 20 Bn for treatment of chronic wounds each year. Chronic wounds are basically those wounds which are failed to heal in a timely and orderly manner. If the wound is not healed within 3 months, then it is categorised as chronic wound. A chronic wound is silently affecting healthcare expenses across the globe. According to the Alliance of Wound Care Stakeholders, in 2017, an estimated 15% of medicare beneficiaries were suffering from chronic wounds in the U.S.. Moreover, the cost incurred for the treatment of these chronic wound patients was estimated to be around US$ 28 - US$ 32 billion.

The share of diabetic foot ulcer was highest in these spendings. As diabetic foot ulcer is causing more cases of chronic wounds, researchers are emphasizing more on developing new therapies for this type of chronic wound. In May 2018, the team of doctors invented Maggot Debridement Therapy, which focused on curing foot ulceration of diabetic patients. 

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Poor nutrition, obesity, diabetes, poor blood circulation, inability to generate new tissues and negligence in care of fresh wounds are some of the causes of chronic wounds which are expected to drive the global chronic wound care market during the forecast period. Obesity and diabetes are the two important causes of chronic wounds. 

Certain factors such as reluctance of patients to use new technologies and lack of adequate reimbursement policies are expected to hamper the growth of the global chronic wound care market during the forecast period.  

Key Players Covered 

Major companies that are present in global chronic wound care market are Smith and Nephew, Baxter, Acelity L.P. Inc., DeRoyal Industries, Inc., ConvaTec Group PLC, Hemartis wound care GmbH, Coloplast, 3M, and other players.  

 SEGMENTATION 

Among the segmentation, diabetic ulcer in the type of chronic wound segment is projected to hold considerable share and is expected to register considerably higher CAGR in the global chronic wound care market owing to the increasing prevalence of diabetes, which is leading to growth in prevalence of diabetic ulcers. 

Key Insights 

• Recent Industry Developments - mergers, acquisitions and partnerships
• Introduction of new products/approvals (by major players)
• Key strategies of leading market players
• Prevalence and incidence of chronic wounds – for key countries 

Regional Analysis 

North America is expected to register comparatively higher share of the global chronic wound care market owing to the higher prevalence of the chronic wounds and higher prevalence of risk factors associated with the chronic wounds. Europe holds huge potential for the growth of global chronic wound care market due to increasing government support for the treatment of chronic wounds as well as strong focus on prevention of chronic wounds. According to a data published on Wounds, in U.K., an estimated 2.8 million people were suffering from a chronic wound in 2018. Moreover, according to the data, an estimated 80.0% of chronic wound patients need to change their dressing twice a week. 

Key Industry Developments

• In May 2018, Coloplast announced the launch of Biatain Silicone, configured with 3DFit technology in order to offer wide range of product portfolio in foam dressing segment.
• In June 2018, Healogics announced the launch of new software solutions, Clinical Optimization and Decision Support in order to optimize the real time communication between patients suffering from chronic wound and their healthcare provider.
• In July 2018, a team of scientists at Tufts University developed a new smart band to monitor chronic wounds and automatically deliver antibiotics at wound site when they are required.
• In November 2018, Smith and Nephew launched advanced PICO 7Y Single Use Negative Pressure Wound Treatment System which is configured with AIRLOCK technology with aim to treat two wounds simultaneously, resulting into reduction of wound treatment cost.