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The global chronic wound care market size was valued at USD 11.61 billion in 2021. The market is projected to grow from USD 12.36 billion in 2022 to USD 19.52 billion by 2029, exhibiting a CAGR of 6.7% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with chronic wound care experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market had exhibited a slower growth rate of 3.7% in 2020 as compared to 2019.
According to various research reports and data published by Mission Regional Medical Center in 2020, it was estimated that around 6.7 million people in the world were suffering from chronic wounds. Also, according to an article published by Fairfax Media in August 2021, it was estimated that around 420,000 people in Australia are diagnosed with various types of wounds each year. Chronic wounds are difficult to heal and are recognized by symptoms like loss of skin or tissue surrounding the wound or by the duration required for healing. Once a wound has become chronic, intensive medical intervention and wound care products are required to treat the wound. The Wound Healing Society (WHS) has classified these wounds into four main categories, i.e., diabetic ulcers, pressure ulcers, venous ulcers, and arterial ulcers.
Also, it is observed that these wounds exert a huge economic burden on patients and healthcare systems around the globe. For instance, according to a research study published by SAGE Publications in August 2021, it was estimated that around USD 4.94 billion were spent on venous leg ulcers and other associated diseases in the U.S. Also, according to Fairfax Media, it was estimated that the Australian government spends around USD 3.00 billion per year for chronic wounds treatment.
Reduction in Number of Patient Visits for Wound Care during COVID-19 Pandemic will have an Adverse Effect on the Market
The COVID-19 pandemic has negatively impacted a few medical device segments due to reducing non-essential procedures and healthcare services. This factor has resulted in the exemption of wound care from the essential procedures list and has been considered an elective procedure in most countries. Also, healthcare settings such as hospitals and specialty clinics have temporarily closed their wound care departments and are accepting only emergency cases. Thus, this has resulted in a significant drop in the number of patient visits in healthcare settings for wound care. However, the upliftment of strict lockdown and COVID-19 restrictions in 2021 by the majority of the countries, coupled with an increasing number of patient visits in the hospitals and wound care centers, fueled the demand and adoption of wound care products. This factor has propelled the market growth by a higher than the anticipated growth rate in 2021.
Besides, several prominent players operating in the market experienced a significant decline in the revenue from wound care products between the pandemic. Although the sales volume of chronic wound care products increased during 2020-2021, the key players witnessed a remarkable hike in revenue. For instance, Smith & Nephew plc recorded a decline of 5.1% in the advance wound management segment revenue from 2019-2020 and witnessed an increase of 14.2% during 2020-2021. Also, ConvaTec Inc. experienced a decrease of 4.1% from the revenue of the advance wound care segment during the 2019-2020 period, whereas it witnessed an increase of 11.5% from the advance wound care segment during 9M 2020- 9M 2021.
Moreover, adoption of devices for wound care is severely affected due to a disruptive supply chain in the COVID-19 pandemic and the requirement of professional assistance during its usage. As per the guidelines laid by several medical institutions, healthcare providers are currently shifting towards new models for chronic care, i.e., Telehealth and virtual consultations.
Hence, such trends are anticipated to present a new set of healthcare models for chronic wound management in the forecast period.
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Increasing Application of Active Therapies in Treatment of Chronic Wounds
Several market players are constantly focusing on the active therapy segment due to the increasing application of bioactive therapies like bioequivalent and skin graft in treating these wounds. For instance, in February 2020, Integra LifeSciences Corporation launched the AminoExcel Plus placental allograft membrane, specially designed to repair soft tissue.
Thus, such introduction of advanced active therapies by market players is leading to increasing adoption of active therapies, which subsequently will aid the global chronic wound care market growth during the forecast period.
Growing Prevalence of Chronic Wounds to Drive the Demand for Treatment
The rising prevalence of diabetic ulcers, pressure ulcers, and others is expected to increase the demand for dressings, devices, and active therapies to treat these wounds. For instance, according to a research article published by National Center for Biotechnology Information in December 2021, it was reported annually an estimated 1.0 to 3.0 million people in the U.S. are suffering from pressure injuries of the skin and soft tissues. Also, according to data published by National Center for Biotechnology Information in 2021, it was reported that the incidence of diabetic foot ulcers in Japan was 2.9 per 1000 people each year.
Hence, the increasing prevalence of different types of chronic wounds globally is generating a high demand for treatment products and, subsequently, fueling the adoption of wound dressings, devices and other products during the forecast period.
Technological Advancements in Treatment Options is Propelling Market Growth
In March 2020, Smith & Nephew announced the launch of PICO 14 single-use negative pressure wound therapy system in the U.S., intending to reduce the risk of surgical wound dehiscence and surgical site infection. Thus, increasing investment in R&D and the launch of several novel wound healing products such as foam dressing and others by market players is expected to fuel the adoption of advanced wound care products for the urgent treatment of diabetic foot ulcers, etc.
High Cost of Treatment and Inadequate Reimbursement Policies in Emerging Countries to Restrict Adoption
Even with a large patient pool with chronic wounds, certain factors are restricting the adoption of wound care products globally. One of them is the high cost of products such as advanced wound dressings, wound care devices, bioactive products coupled with lack of reimbursement for these products in emerging countries. For instance, according to a research article published by Elsevier B.V. in March 2021, it was estimated that the cost of individual patients ranges from USD 894.7 to USD 98,730.2 for hospital-acquired pressure ulcer treatment. Hence, the high cost of treatment of these hard-to-heal ulcers and inadequate reimbursement policies, especially in emerging countries, have been instrumental in the lower adoption of active wound care products and devices in the global market.
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Rising Prevalence of Diabetes and Diabetic Ulcer Led to the Segmental Dominance in 2021
The market is segmented into diabetic, pressure, venous leg, and others in terms of type. The largest market share was captured by the diabetic ulcer segment in 2021. The segment's dominance is attributable to the higher prevalence of diabetes globally and the increasing incidence of diabetic ulcers among diabetic patients.
The pressure ulcer segment is expected to grow at a significant CAGR during the forecast period due to the increasing patient pool suffering from pressure ulcers and increasing expenditure on its treatment.
However, the venous and arterial ulcer segments are anticipated to register a moderate CAGR during 2022-2029.
High Efficiency Coupled with Technological Advancement Responsible for Dominance of Advanced Wound Dressings in 2021
Based on product, the global market is segmented into advanced wound dressings, wound care therapy, active therapy, and others. Advanced wound care dressings accounted for a dominant market share in 2021. The dominance is attributed to the lower cost of wound dressings coupled with its high efficiency in managing various types of wounds. The wound care device segment is expected to grow at a significant CAGR during the forecast period due to the constant focus of market players in introducing advanced devices in the market.
The active therapy segment is projected to grow at a higher CAGR during the forecast period owing to the increasing use of active therapies in the urgent and effective treatment of chronic wounds.
Increasing Patient Flow in Hospitals & Wound Care Centers to have a Dominant Market Share during the Forecast Period
Based on end-user, the market is segmented into hospitals & wound care centers, home care settings & others. The hospitals & wound care centers are anticipated to dominate the market during the forecast period. The dominance is due to an increasing patient flow in hospitals suffering from hard-to-heal chronic wounds.
On the other hand, the home care setting and other segments are anticipated to register a significant CAGR by the end of the forecast period due to patients' rising preference shift from hospital to home care settings for personalized wound care.
North America Chronic Wound Care Market Size, 2021 (USD billion)
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The market size in North America stood at USD 4.40 billion in 2021. The dominance of this region is attributable to the growing prevalence of chronic wounds, higher cost of treatment, and presence of adequate reimbursement policies in the U.S and Canada. For instance, according to an article published by Mary Ann Liebert, Inc., in October 2021, it was reported that the prevalence of venous leg ulcers was around 1.69% among the U.S. adult population in 2020. Also, it was stated that the annual economic burden for venous leg ulcers was approximately USD 14.90 billion in the U.S. Thus, the huge patient pool suffering from chronic wounds results in the growing demand and adoption of wound care products and is responsible for the market dominance of this region.
Whereas, the market in Europe is anticipated to register a significant CAGR during the forecast period due to the increase in a patient population with chronic wounds coupled with higher expenditure on the treatment of pressure ulcers, diabetic ulcers, venous ulcers, etc. For instance, according to the article by Manchester University NHS Foundation Trust in February 2020, the annual cost of venous leg ulcer treatment was estimated to be USD 2.57 billion in the U.K.
The Asia Pacific market is expected to grow at a higher CAGR due to the region's constant focus on market players. Comparatively lower diagnosis and treatment rates in emerging countries, especially in China, and India, have been pivotal for the lower share of the region in the global market. However, growing awareness among the patient population towards available treatment options, and increasing per capita healthcare spending, has led to the entry of global players in the region. For instance, in April 2021, Essity Aktiebolag (publ). acquired the distribution rights of Sorbact in Australia and New Zealand, intending to prevent and treat chronic wounds.
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However, Latin America & the Middle East & Africa accounted for a comparatively lower share of the market due to lack of awareness about wound care, lower per capita income, and inadequate reimbursement policies in these regions. According to a research article published by Elsevier B.V. in 2022, it was reported that the treatment cost of a diabetic foot ulcer is approximately USD 10,450.0 per patient in Latin America. Thus, this huge expense is unaffordable for the majority of the countries in this region. This factor results in limiting the adoption of wound care products and subsequently restraining the market growth during the study period.
Emphasis on New Product Launches and Company Acquisition to Reinforce the Leading Market Position
The market structure is consolidated, with major players like Smith & Nephew, ConvaTec, Inc., and 3M, occupying a dominant market share in 2021. Major factors such as a strong product portfolio for chronic and acute wounds, along with a wide distribution network, are primarily responsible for the dominance of these players in the global market. For instance, in January 2020, ConvaTec Group PLC introduced ConvaMax, a super absorber wound dressing intended to manage highly exuding wounds, including leg ulcers, pressure ulcers and diabetic foot ulcers, in the global market.
Along with that, a strong emphasis on strategic expansion of their product offerings through the acquisition of domestic players is anticipated to provide a strong foothold in the global market. For instance, in January 2021, Integra LifeSciences Corporation announced the acquisition of ACell, Inc., intending to provide more comprehensive complex wound management solutions to the patients. Other key players engaged in the market are Cardinal Health, Coloplast Corp, Integra LifeSciences Corporation, B. Braun Melsungen AG, and Tissue Regenix.
An Infographic Representation of Chronic Wound Care Market
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The market 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 global chronic wound care industry 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 market over the recent years.
Value (USD billion)
Type; Product; End User; and Region
By End User
Fortune Business Insights says that the global market size was USD 11.61 billion in 2021 and is projected to reach USD 19.52 billion by 2029.
In 2021, the North American market value stood at USD 4.40 billion.
Growing at a CAGR of 6.7%, the market will exhibit steady growth in the forecast period (2022-2029).
The diabetic ulcer segment is expected to be the leading segment by type in this market during the forecast period.
The increasing prevalence of chronic wounds and the introduction of advanced products by market players are major factors driving the market growth.
Smith & Nephew, 3M, and ConvaTec Inc. are major global market players.
North America dominated the market share in 2021.
The launch of advanced technologies by market players like active therapies NPWT are expected to drive the adoption in the global market.
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