"Designing Growth Strategies is in our DNA"

Wound Care Market Size, Share & COVID-19 Impact Analysis, By Type (Advanced Wound Dressing, (Antimicrobial Dressings, Alginate Dressings, Foam Dressings, Hydrocolloid Dressings, and Others), Traditional Wound Care Products, Negative Pressure Wound Therapy, Bioactives (Biological Skin Equivalents, Growth Factors, and Others), and Others); By Application (Chronic Wounds (Diabetic Foot Ulcers, Pressure Ulcers, Leg Ulcers, and Others), and Acute Wounds (Surgical Wounds, and Others)); By End User (Hospitals, Clinics, Homecare Settings, and Others), and Regional Forecast, 2022-2029

Region : Global | Format: PDF | Report ID: FBI103268

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global wound care market was valued at USD 17.49 billion in 2021. The market is projected to grow from USD 18.51 billion in 2022 to USD 28.23 billion by 2029, exhibiting a CAGR of 6.2% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with 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 of 3.1% in 2020 as compared to 2019.


Increasing number of patients with chronic and acute wounds are resulting in the growing demand for wound care products globally. For instance, according to an article published by Mary Ann Liebert, Inc., in 2021, it was estimated that approximately 2.5% of the U.S. population was suffering from chronic wounds, including diabetic foot ulcers, pressure ulcers and others. Along with that, major key players, operating in this market are constantly focusing on the introduction of advanced wound care products to fulfil the unmet demand. As a result of this, the adoption rate of wound care products including traditional, bioactives and others are increasing.


Besides, the governments of developing countries and other private and non-profit organizations are constantly increasing the focus on various awareness programs with an aim to increase the awareness about advanced product offerings and treatment options for chronic and advanced wounds. These key factors coupled with availability of favorable reimbursement policies in the developed countries are augmenting the adoption rate of wound care products and have been instrumental for the significant growth rate of the market during the forecast period.


COVID-19 IMPACT


Exemption of Wound Care from Essential Procedures List due to COVID-19 Led to Decline in Market Growth


The outbreak of COVID-19 has had a negative impact on the market. Few market players reported a decline in their revenues in 2020 due to the pandemic. Also, in the first half of the year, the government of major countries reallocated their healthcare resources in clinics, including beds, nurses, and essential personnel to manage COVID-19 patients. This led to the exemption of wound management from the essential procedures list.


Several market players witnessed a significant decline in the revenue generated during 2020. For instance, Smith & Nephew plc experienced a drop of 5.1% from their advanced wound management segment. Also, ConvaTec Inc. witnessed a decrease of 4.1% from their advanced wound care segment in 2020 as compared to 2019.


Additionally, several medical organizations provided guidelines regarding handling patients with hard to heal wounds. For instance, the International Working Group on the Diabetic Foot (IWGDF) recommended using alternatives to hospitals & outpatient clinics. The organization recommended a shift towards telemedicine, setting up clinics in other locations away from the hospital or home visits for patients suffering from less severe chronic wounds. Major countries lifted their lockdown and stay-at-home orders by the end of 2020. However, the recent outbreak of a new strain of COVID-19 is expected to increase the burden on the healthcare system of the affected countries.


LATEST TRENDS


Request a Free sample to learn more about this report.


Increasing Application of Bioactive Therapies for Late-stage Wounds to Aid Growth


Bioactive therapies, including skin substitutes and growth factors are gaining huge popularity among healthcare professionals for wound healing, especially in the treatment of late-stage wounds. Several players are currently entering the market by focusing on allograft, xenograft, nanofiber, dermal substitutes, and cell-based therapies to cater to the growing demand for urgent and effective wound management patients.


In November 2021, Sanara MedTech Inc. announced the commercial launch of FORTIFY TRG, a tissue repair graft and FORTIFY FLOWABLE extracellular matrix with an aim to treat chronic wounds, including pressure ulcers, venous ulcers, diabetic ulcers, chronic vascular ulcers and others. Also, technological advancements in bioactive therapies, such as reduction in overall duration and cost of treatment, have been further able to attract the patient population. Thus, it presents a huge growth opportunity for new entrants, established players to focus on this segment, and launched new bioactives to fulfill the growing demand for these therapies in the global market.


DRIVING FACTORS


Introduction of Technologically Advanced Products to Propel Market Growth


Increasing investment in research & development and the launch of advanced products by market players, such as B. Braun Melsungen AG, ConvaTec Group PLC are expected to fuel the demand for these products, especially in developed countries. For instance, in January 2020, ConvaTec Group PLC introduced ConvaMax in the global market. The new ConvaMax was a super absorber wound dressing intended to be used in the management of highly exuding wounds, including leg ulcers, pressure ulcers and diabetic foot ulcers.


Also, distinct clinical benefits offered by negative pressure wound therapy (NPWT), and the introduction of advanced features, such as single-use by market players, are boosting the adoption of NPWT devices among healthcare professionals globally. For instance, in March 2020, Smith & Nephew announced the launch of the 'PICO 14' single use NPWT System in the U.S. market, with an aim of reducing the risk of surgical wound dehiscence and surgical site infection.


Thus, the introduction of such novel products for rapid healing is expected to boost the adoption among patients and healthcare providers. This is expected to favor the global wound care market growth during the foreseeable future.


RESTRAINING FACTORS


Delayed Diagnosis of Advance and Chronic Wounds in Emerging Countries Attributed to Limit Product Adoption


Chronic wounds, such as diabetic foot ulcers, pressure ulcers and leg ulcers can progress from mild to severe due to delayed diagnosis and treatment and lead to foot amputations. The incidence of delayed diagnosis is considerably higher in emerging countries, such as India, China and Brazil compared to developed countries. This is due to limited awareness among populations regarding hard to heal wounds, limited access to well-developed healthcare infrastructure, and lack of established guidelines and action plans by governing bodies.


For instance, according to a study published in the Journal of Foot and Ankle Surgery (Asia-Pacific), it was observed that in west India, most patients are delayed by more than one month up to one year in the diagnosis of foot ulcers, including diabetic/neuropathic ulcers. Hence, all the above factors and the lack of favorable reimbursement policies for chronic and acute wounds are primarily responsible for lower diagnosis rate and, subsequently, limiting the adoption of these products in emerging countries.


SEGMENTATION


By Type Analysis


Higher Demand for Advanced Wound Dressings Product Led to its Dominance in 2021


The advanced wound dressings segment held a dominating share in 2021 owing to higher demand and adoption of foam dressings, antimicrobial dressings and alginate dressings.


The bioactive segment is expected to register the highest CAGR owing to the increasing application of tissue-engineered products derived from artificial or natural sources to treat hard to heal wounds.


The negative pressure wound therapy (NPWT) is expected to grow at a significant CAGR due to the introduction of technologically advanced NPWT devices by market players.


The traditional products and others segments are expected to register a comparatively moderate CAGR during the forecast period owing to the increasing shift of healthcare professionals and patients towards advanced products.


By Application Analysis


To know how our report can help streamline your business, Speak to Analyst


Increasing Prevalence of Chronic Wounds Resulting into its Largest Market Share During Forecast Period


On the basis of application, the chronic wounds segment held a dominating share of the market in 2021. The dominance is attributed to the increasing patient population suffering from diabetic foot ulcers and pressure ulcers, along with the increasing expenditure on treating these conditions.


The acute segment is expected to register a significant CAGR during the forecast period due to an increasing number of surgeries, resulting in a higher incidence of surgical wounds and the launch of advanced products by market players for acute wounds.


By End User Analysis


Higher Number of Hospitals with Dedicated Wound Care Facility led to hold its Dominance in 2021


Based on end-user, the market includes hospitals, clinics, home care settings, and others.


The hospitals segment held a dominating share in 2021 due to an increase in the number of multispecialty hospitals with departments dedicated to wound management, especially in emerging countries.


The homecare segment is expected to grow at a higher CAGR during the forecast period. This is due to the increasing incidence of chronic wounds among the geriatric population and the rising shift of patients towards homecare.


The clinics and others segment are anticipated to project significant CAGR due to increasing investment by public and private players in small and medium-sized clinics and long-term care centers worldwide to improve healthcare infrastructure.


REGIONAL INSIGHTS


North America Wound Care Market Size, 2021 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


The market size in North America stood at USD 6.69 billion in 2021. The strong direct presence of key players in the region, large patient population suffering from chronic and acute wounds, and higher per capita healthcare expenditure are some of the major factors responsible for the dominance of North America. For instance, according to data published by 3M, it was reported that approximately USD 547.0 million is spent annually for the treatment of diabetic foot ulcers in Canada.


The market in Europe is expected to register a significant CAGR due to well-established infrastructure in the U.K. and Germany and increase in the adoption of innovative products in these countries.


Asia Pacific is expected to grow at a higher CAGR due to the increasing incidence of diabetes-related comorbidities, such as diabetic foot ulcers in the region. Besides, the rising focus of market players to expand its operating network in emerging countries of Asia Pacific is further expected to propel the growth of this region.


To know how our report can help streamline your business, Speak to Analyst


Latin America and the Middle East & Africa are anticipated to register a moderate CAGR during the forecast period. This is due to the lack of awareness about available treatment options for chronic and advanced wounds among common people along with lack of favorable reimbursement policies to treat chronic wounds.


KEY INDUSTRY PLAYERS


Wide Operating Network and Focus towards Inorganic Strategies Attributed for Dominance of Mölnlycke Health Care AB in 2021


The global market is semi-consolidated, with a few established players in the traditional and a few players dominating the advanced products segment. The global market was dominated by 3M, Smith & Nephew, and Mölnlycke Health Care AB in 2021. Introducing innovative treatment options for wounds and expansion of sales channels are key strategies adopted by leading players to maintain their dominant position in the market.


Also, a strong focus on strategic development to increase product awareness among the physician and patient population is expected to provide a strong foothold to the players in the market.



  • In June 2020, Mölnlycke Health Care AB announced the launch of new wound care patient educational resources to support patients and healthcare professionals during the coronavirus pandemic.


The other key market players operating in the market are ConvaTec Group Plc, Cardinal Health, Medtronic, Johnson & Johnson Services, Inc., Coloplast Corp, PAUL HARTMANN AG, Integra LifeSciences Corporation, and BSN medical.


LIST OF KEY COMPANIES PROFILED:



  • Smith & Nephew (U.K.)

  • 3M (U.S.)

  • ConvaTec Inc. (U.K.)

  • Cardinal Health (U.S.)

  • Coloplast A/S (Denmark)

  • Mölnlycke Health Care AB (Sweden)

  • Medtronic (Ireland)

  • PAUL HARTMANN AG (Germany)

  • Johnson & Johnson Services, Inc. (U.S.)


KEY INDUSTRY DEVELOPMENTS:



  • November 2021 – ConvaTec Group PLC extended its partnership with Vizient, Inc., for advanced wound care products, technologies and services for a further three years up to 2025.

  • October 2021 - Essity Aktiebolag (publ) launched a digital solution in Germany, Cutimed Wound Navigator for assessing and documenting wounds. This helps the healthcare professionals in simplifying the wound documentation, workflow and improving the consistency of care. This allowed the company to widen its product portfolio.


REPORT COVERAGE


An Infographic Representation of Wound Care Market

To get information on various segments, share your queries with us



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


Report Scope & Segmentation






















































  ATTRIBUTE



  DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



 2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Value (USD billion)



Segmentation



Type; Application; End-user; and Region



By Type




  • Advanced Wound Dressing

    • Antimicrobial Dressings

    • Alginate Dressings

    • Foam Dressings

    • Hydrocolloid Dressings

    • Others



  • Traditional Wound Care Products

  • Negative Pressure Wound Therapy

  • Bioactive

    • Biological Skin Equivalents

    • Growth Factors

    • Others



  • Others



By Application


 




  • Chronic Wounds

    • Diabetic Ulcers

    • Pressure Ulcers

    • Leg Ulcers

    • Others



  • Acute Wounds

    • Surgical Wounds

    • Others (Burns)





By End-user




  • Hospitals

  • Clinics

  • Homecare Settings

  • Others



By Region




  • North America (By Type, By Application, By End-user, and By Country)

    • U.S. (By Application)

    • Canada (By Application)



  • Europe (By Type, By Application, By End-user, and By Country)

    • Germany (By Application)

    • U.K. (By Application)

    • France (By Application)

    • Italy (By Application)

    • Spain (By Application)

    • Scandinavia (By Application)

    • Rest of Europe (By Application)





  • Asia Pacific (By Type, By Application, By End-user, and By Country)





    • India (By Application)

    • China (By Application)

    • Japan (By Application)

    • Australia (By Application)

    • Southeast Asia (By Application)

    • Rest of Asia Pacific (By Application)



  • Latin America (By Type, By Application, By End-user, and By Country)

    • Brazil (By Application)

    • Mexico (By Application)

    • Rest of Latin America (By Application)



  • Middle East & Africa (By Type, By Application, By End-user, and By Country)

    • GCC (By Application)

    • South Africa (By Application)

    • Rest of Middle East & Africa (By Application)





Frequently Asked Questions

Fortune Business Insights says that the global market stood at USD 17.49 billion in 2021 and is projected to reach USD 28.23 billion by 2029.

In 2021, North America stood at USD 6.69 billion.

The market will exhibit steady growth at a CAGR of 6.2% during the forecast period (2022-2029).

Based on application, the chronic wounds segment will lead the market.

The rising prevalence of chronic and acute wounds and the introduction of advanced products for wound healing are the key drivers of the market.

3M, Smith & Nephew, and Molnlycke Health Care AB are the top players in the market.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • Mar, 2022
  • 2021
  • 2018-2020
  • 176

    CHOOSE LICENSE TYPE

  • $4850
    $5850
    $7850
    Buy Now

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X