Chronic Wound Care Market Size, Share & COVID-19 Impact Analysis, By Type (Diabetic Ulcers, Pressure Ulcers, Venous Ulcers, and Arterial Ulcers), By Product (Advanced Wound Dressings, Wound Care Devices, Active Therapy, and Others), By End User (Hospitals & Wound Care Centers, and Homecare Settings & Others), and Regional Forecast, 2020-2027

The global chronic wound care market size was valued at USD 10.12 billion in 2019 and is projected to reach USD 16.36 billion by 2027, exhibiting a CAGR of 6.2% during the forecast period.

According to data published in U.S National Library of Medicine in 2018, an estimated 5.7 million people in the U.S were suffering from chronic wounds and the country spends around US$ 20 billion for its treatment each year. Chronic wounds are conditions that are difficult to heal and are recognized by symptoms like loss of skin or tissue surrounding 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 surgical traumatic wounds into 4 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 globe. For instance, according to the Alliance of Wound Care Stakeholders, in 2017, an estimated 15% of medical beneficiaries were suffering from chronic wounds in the U.S and the cost incurred for treatment of these wounds was approximately US$ 28 to US$ 32 billion.

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 had a negative impact on few medical devices segments, due to reduction in non-essential procedures and healthcare services. This has resulted in release of chronic wound care from essential procedures list and is been considered as 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 number of patients visits in healthcare settings for wound care. Moreover, the adoption of devices for chronic wound care has been severely affected due to presence of disruptive supply chain in the COVID-19 pandemic and requirement of professional’s 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.

LATEST TRENDS

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Increasing Application of Active Therapies in Treatment of Chronic Wounds

Several market players are constantly focusing on active therapy segment due to the increasing application of bioactive therapies like bioequivalent, skin graft in treatment of these wounds. For instance, in February 2020, Integra LifeSciences Corporation launched the AminoExcel Plus placental allograft membrane, specially designed to aid the repair of soft tissue. Thus, such introduction of advanced active therapies by market players is leading to an increasing adoption of active therapies for chronic wound care, which subsequently, will aid the global market growth during the forecast period.

DRIVING FACTORS

Growing Prevalence of Chronic Wounds to Drive the Demand for Treatment

Rising prevalence of diabetic ulcers, pressure ulcer, and etc. are expected to increase the demand of dressings, devices, and active therapies for treatment of these wounds. For instance, according to a research review by Hahnel et al in 2017, it was reported that the prevalence of pressure ulcer varied between 0.3% and 46.0%, and its incidence ranged from 0.8% to 34.0% worldwide. Hence, the increasing prevalence of different types of chronic wounds globally are 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 Growth of the Market

In April 2019 PolarityTE, Inc., initiated clinical trials on its SkinTE regenerative tissue products for chronic wounds. The clinical trial will evaluate the effectiveness of SkinTE in treatment of diabetic foot ulcers (DFU) and venous leg ulcer. Thus, increasing investment in R&D and the launch of several novel wound healing products by market players is expected to fuel the adoption of advanced wound care market products for the urgent treatment of diabetic foot ulcers pressure, etc.

RESTRAINING FACTORS

High Cost of Treatment and Inadequate Reimbursement Policies in Emerging Countries to Restrict Adoption

Even with presence of 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 Wound Healing Society in 2018, it was estimated that in the U.S., cost of individual patient ranges from US$ 20,900 to US$ 151,700 for pressure ulcer treatment. Hence, the high cost of treatment of these hard to heal ulcers along with inadequate reimbursement policies especially in emerging countries has been instrumental in lower adoption of active wound care products and devices in the global market.

SEGMENTATION

By Type Analysis

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Diabetic Ulcer Segment Held a Dominant Market Share in 2019

In terms of type, the market is segmented into diabetic ulcer, pressure ulcer, venous ulcer, and arterial ulcer. The diabetic ulcer segment accounted for the largest Chronic Wound Care Market share of the global market in 2019. The dominance of the segment is attributable to higher prevalence of diabetes globally coupled with increasing incidence of diabetic ulcer among diabetic patients. The pressure ulcer segment is expected to grow at a significant CAGR during the forecast period owing to the increasing patient pool suffering from pressure ulcer along with increasing expenditure on its treatment.

However, the venous ulcer and arterial ulcer segment is anticipated to register a moderate CAGR during the period of 2020-2027.

By Product Analysis

Advanced Wound Dressing Dominated the Global Market in 2019

Based on product, the global market is segmented into advanced wound dressings, wound care therapy, active therapy, and others. The advance wound care dressings accounted for a dominant share of the market in 2019. The dominance is attributed to the lower cost of wound dressings coupled with its high efficiency in management of 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 urgent and effective treatment of chronic wounds.

By End User Analysis

Hospitals & Wound Care Centers Segment to have a Dominant Share during the Forecast Period

Based on end user, the market is segmented into hospitals & wound care centers, and homecare setting & others. The hospitals & wound care centers are anticipated to dominate the market during the forecast period. The dominance is due to an increase in number of patients in hospitals suffering from hard to heal.

On the other hand, the home care settings and others segment is anticipated to register a significant CAGR by the end of the forecast period owing to the rising incidences preference shift of patients from hospital to home care settings for personalized wound care.

REGIONAL INSIGHTS

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The market size in North America stood at USD 3.87 billion in 2019. 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. Whereas, market in Europe is anticipated to register a significant CAGR during the forecast period owing to the increase in patient population with chronic wounds coupled with higher expenditure on the treatment of diabetic ulcers, pressure ulcers, venous ulcers, etc. For instance, according to the article published by NCBI, the annual cost of venous leg ulcer treatment was estimated to be in between US$ 494.0 to 741.0 Mn in the U.K. The market in Asia Pacific is expected to grow at a higher CAGR owing to constant focus of market players in the region. For instance, in March 2019, Integra LifeSciences Corporation launched DuraGen Dural Regeneration Matrix in Japan. DuraGen is the first and only non-autologous collagen xenograft approved for use as a dural substitute in Japan. However, Latin America & the Middle East & Africa accounted for a comparatively lower share of the market due to lack of awareness about wound care along with presence of inadequate reimbursement policies in these regions.

KEY INDUSTRY PLAYERS

Major Players to Emphasis on New Product Launches and Company Acquisition to Reinforce their Market Position

The chronic wound care market structure is consolidated in nature with major players like Smith & Nephew, ConvaTec, Inc., and 3M, occupying a dominant share of the market in 2019. Factors such as strong product portfolio, along with a wide distribution network, are primarily responsible for the dominance of these players in the global market. Also, a strong emphasis on strategic expansion of their product offerings through acquisition of domestic players is anticipated to provide a strong foothold in the global market. For instance, in July 2018, Mölnlycke Health Care AB acquired SastoMed GmbH, a German wound care company, with an aim to expand its product offerings with SastoMed GmbH products including Granulox and Granudacyn for active and passive healing of chronic wounds. Other key players engaged in the market are Cardinal Health, Coloplast Corp, Integra LifeSciences Corporation, B. Braun Melsungen AG, and Tissue Regenix.

LIST OF KEY COMPANIES PROFILED:

• Smith & Nephew (London, U.K.)


• Cardinal Health (Dublin, Ohio)


• Coloplast Corp (Humlebaek, Denmark)


• ConvaTec Inc. (England, U.K.)


• Mölnlycke Health Care AB (Gothenburg, Sweden)


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


• 3M (Minnesota, U.S)


• B. Braun Melsungen AG (Melsungen, Germany)


• Tissue Regenix (West Yorkshire, U.S)


• Other Players

KEY INDUSTRY DEVELOPMENTS:

• April 2019 – Smith & Nephew acquired Osiris Therapeutics Inc., in order to diversify its products offerings and strengthen its position in the chronic wound care segment


• May 2018 – Coloplast Corp announced the launch of Biatain Silicone with 3Dfit technology in order to offer wide range of product portfolio in foam dressing segment

REPORT COVERAGE

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The chronic wound care 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 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 market over the recent years.

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Report Scope & Segmentation