Wound Care Market Size, Share & COVID-19 Impact Analysis, By Type (Advanced Wound Dressings, {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, Venous Leg Ulcers, and Others} and Acute Wounds {Surgical Wounds and Burns}), By End User (Hospitals, Clinics, Homecare Settings, and Others), and Regional Forecast, 2023-2030

The global wound care market size was valued at USD 18.51 billion in 2022 and is projected to grow from USD 19.63 billion in 2023 to USD 30.04 billion by 2030, exhibiting a CAGR of 6.3% during the forecast period.

Increasing number of patients with chronic and acute wounds are boosting the 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 other injuries. Along with that, major key players operating in the market are focusing on the introduction of advanced wound care products to fulfil the unmet demand. As a result of this, the adoption rate of traditional, bioactive, and other wound treatment solutions is increasing.

Besides, the governments of developing countries and other private and non-profit organizations are constantly increasing the focus on various awareness programs to raise the awareness about advanced product offerings and treatment options for chronic and advanced wounds. These factors, coupled with availability of favorable reimbursement policies in developed countries, are augmenting the adoption rate of products for wound treatment. These aspects are also expected to be instrumental in the significant growth 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 the COVID-19 virus 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 governments of major countries reallocated their healthcare resources in clinics including beds, nurses, and essential personnel to treat COVID-19 patients. This led to the exemption of wound management from the essential procedures list.

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

However, the market is witnessing normalcy due to the reduction in lockdown restrictions and increased clinic visits. Also, many players witnessed growth in their revenue in 2021 due to the recovery of the market from the COVID-19 pandemic and increased demand for wound treatment products.

• For instance, in 2021, ConvaTec Group PLC. generated a revenue of USD 592.3 million from its advanced wound care business and witnessed a growth of 8.3% as compared to 2020.

LATEST TRENDS 

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

Bioactive therapies including skin substitutes and growth factors are gaining huge popularity among healthcare professionals, 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 therapies among patients.

In November 2021, Sanara MedTech Inc. announced the commercial launch of FORTIFY TRG, a tissue repair graft, and FORTIFY FLOWABLE extracellular matrix to treat chronic wounds including pressure ulcers, venous ulcers, diabetic ulcers, chronic vascular ulcers, and other types of ulcers. Also, technological advancements in bioactive therapies resulting in the reduction in overall duration and cost of treatment have been able to attract the patient population. This factor presents a huge growth opportunity for new entrants and established players to focus on this segment. It has prompted them to launch new bioactive therapies to fulfill the growing demand for them 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 and ConvaTec Group PLC are expected to fuel the demand for these products, especially in developed countries. For instance, in October 2021, Healthium Medtech Limited launched a surgical wound dressing, “TRUSHIELD NXT”, with the advantage of infection prevention and 3D hydrocellular substrate for efficient wound protection.

Also, distinct clinical benefits offered by Negative Pressure Wound Therapy (NPWT) and the introduction of advanced features, such as single-usability by market players are boosting the adoption of NPWT devices among healthcare professionals globally. For instance, in June 2021, the U.S. FDA approved Mölnlycke Health Care AB’s Avance Solo NPWT System to remove low to moderate exudate from acute and chronic wounds.

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

RESTRAINING FACTORS

Delayed Diagnosis of Chronic Wounds in Emerging Countries 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, leading to foot amputations. The incidence of delayed diagnosis is considerably higher in emerging countries, such as India, China and Brazil as 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, the diagnosis of foot ulcers, including diabetic/neuropathic ulcers, is delayed in most patients by more than one month up to one year. Hence, all the above factors and the lack of favorable reimbursement policies for chronic and acute wounds are responsible for lower diagnosis rate and, subsequently, limiting the adoption of these products in emerging countries.

SEGMENTATION

By Type Analysis

Advanced Wound Dressings Segment is Expected to Dominate the Market due to High Demand

Based on type, the market is segmented into advanced wound dressings, traditional wound care products, negative pressure wound therapy, bioactives, and others. The advanced wound dressings segment held a dominating wound care market share in 2022, owing to higher demand for and adoption of foam dressings, antimicrobial dressings, and alginate dressings. The rising prevalence of chronic wounds, increasing number of surgical procedures, and various benefits associated with advanced wound dressing when compared to traditional dressings are the factors predominantly driving the segment growth.

The bioactives 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 slow healing wounds.

The Negative Pressure Wound Therapy (NPWT) segment is expected to record a significant CAGR due to the introduction of technologically advanced NPWT devices by market players.

• For instance, in March 2020, Smith & Nephew launched PICO 14 Single Use Negative Pressure Wound Therapy System for patients with a high risk of surgical site complications. The system includes an Airlock technology to reduce the risk of wound complications by reducing post-operative fluid.

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 toward advanced products.

By Application Analysis

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Increasing Prevalence of Acute Ulcers to Help Chronic Wounds Segment hold Largest Market Share during the Forecast Period

Based on application, the market is segmented into chronic wounds and acute wounds. The chronic wounds segment held a dominating share of the market in 2022. This dominance is attributed to rise in the percentage of patient population suffering from diabetic foot ulcers and pressure ulcers, along with increasing expenditure on treating these conditions.

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

By End User Analysis

Hospitals to Dominate due to Higher Number of Hospitals with Dedicated Facilities for Wound Management

Based on end user, the market is segmented into hospitals, clinics, homecare settings, and others.

The hospitals segment held a dominating share in 2022 due to increase in the number of multispecialty hospitals with departments dedicated to wound management, especially in emerging countries.

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

The clinics and others segments are anticipated to display a significant CAGR due to increasing investment by public and private players in small and medium-sized clinics. The presence of long-term care centers is also growing across the world to improve healthcare infrastructure, further augmenting the segment’s growth.

REGIONAL INSIGHTS

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The market size in North America stood at USD 7.07 billion in 2022. The strong presence of key players in the region, large patient population suffering from chronic & acute wounds, and higher per capita healthcare expenditure are some of the major factors responsible for the region’s dominance in the market. For instance, according to data published by 3M, approximately USD 547 million are spent annually for the treatment of diabetic foot ulcers in Canada.

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

Asia Pacific is expected to showcase 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 on expanding their operating networks in emerging countries of Asia Pacific is further expected to propel the regional market’s growth.

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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 people and dearth of favorable reimbursement policies to treat chronic wounds.

KEY INDUSTRY PLAYERS

Wide Operating Network and Focus on Inorganic Strategies Led to Dominance of Mölnlycke Health Care AB in 2022

The global wound care market is semi-consolidated, with a few established players dominating the advanced wound dressings segment. The global market was dominated by 3M, Smith & Nephew, ConvaTec Group PLC, and Mölnlycke Health Care AB in 2022. Introducing innovative treatment options for wounds, rise in product launch, 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 portfolio and awareness among the physician and patient population is expected to provide a strong foothold to the players in the market.

• In March 2022, ConvaTec Group PLC completed the acquisition of Triad Life Sciences for manufacturing wound biologics to address the unmet clinical needs in surgical wounds.

The other key market players operating in the market are 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:

• March 2023 – Bactiguard AB collaborated with Quintess Medical and launched its wound care product line in Ireland and the U.K. Through this collaboration, the company aimed to strengthen its position in the country.


• June 2022 –  Smith & Nephew announced the establishment of a new R&D and manufacturing facility in the U.K. for its advanced wound care management business. The new manufacturing facility is anticipated to raise the company’s sales by USD 10 billion in the first 10 years of operation.


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


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


• September 2021 – Human Bioscience, a U.S.-based company, planned to launch two products, “Skin Temp” and “Medifil”, in the India market.

REPORT COVERAGE

An Infographic Representation of Wound Care Market

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The 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 latest 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 market in recent years.

Report Scope & Segmentation