The global wound care market is expected to reach USD 29.6 billion by 2030, expanding at a CAGR of 4.1% during the forecast period from 2022 to 2030. The major factors positively influencing the growth of wound care include the rapid increase in the aging population, the growing number of surgical cases, and s, and the rise in the number of diabetic patients globally. The rising number of chronic and acute wounds among people is highly impacting the global demand for wound care products.
In 2019, Aging Asia stated that nearly 10% of India’s total population, i.e. over 139 million people belonged to the senior citizen category of 60 years and above which is expected to increase up to 19.5% by 2050. This group of the population is highly susceptible to wounds and diseases that need care. Hence, the growing geriatric population is projected to drive market growth in the forthcoming years. The upgrading of healthcare infrastructure over a period of time, especially in countries like South Korea, India, and Africa, and Middle Eastern countries like the UAE and Saudi Arabia, is anticipated to significantly drive the market growth for wound care.
The unprecedented COVID-19 pandemic has negatively impacted market growth with a severe fall in demand for wound care across all regions. The global market witnessed a staggering growth of 3.1% in 2021 as compared to 2019. However, with the introduction of the COVID-19 vaccine and the removal of lockdown restrictions, the market is projected to propel during the forecast period.
Prevailing major health concerns like obesity and being overweight further lead to serious health complications like cardiovascular diseases and diabetes which are projected to fasten the demand for related surgeries, and bariatric procedures, hence propelling the market growth in the forthcoming years. In addition, the leading manufacturers of the wound care market are adopting strategies and initiatives like new product launches, geographic expansions, and partnerships, and merging.
Wound Care Market Report Key Takeaways
- In 2021, the advanced wound dressing segment based on product dominated the market owing to the growing number of diabetic pressure ulcer patients, and registered a revenue share of 34.6%
- Owing to the global increase in occurrences of traumatic injuries, the chronic wound segment based on application witnessed a revenue share of 59.9% in 2021
- 2021 market was dominated by North America with the highest revenue share of 45.4%, owing to the widening number of technological advancements in the region, along with the growing number of surgical procedures
- Smith and Nephew in March 2020 launched the novel PICO 14 NPWT system that includes a pump duration that can last up to 14 days and has assisted the company in expanding the product offerings
- In 2019, Smith and Nephew acquired South Medical Supplies worth USD 5 million which helped the company validate its presence in the U.S. market
Wound Care Market Segmentation
- Wound Care Product Outlook (Revenue, USD Million, 2018 - 2030)
- Advanced wound dressing
- Foam dressings
- Hydrocolloid dressings
- Film dressings
- Alginate dressings
- Hydrogel dressings
- Collagen dressings
- Other advanced dressings
- Surgical wound care
- Sutures & staples
- Tissue adhesive and sealants
- Anti-infective dressing
- Traditional wound care
- Medical tapes
- Cleansing agents
- Wound therapy devices
- Negative pressure wound therapy
- Oxygen and hyperbaric oxygen equipment
- Electric stimulation devices
- Pressure Relief Devices
- Others
- Wound Care Application Outlook (Revenue, USD Million, 2018 - 2030)
- Chronic wounds
- Diabetic foot ulcers
- Pressure ulcers
- Venous leg ulcers
- Other chronic wounds
- Acute wounds
- Surgical & traumatic wounds
- Burns
- Wound Care End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Hospitals
- Specialty Clinics
- Home healthcare
- Others
- Wound Care Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- U.K.
- Germany
- France
- Italy
- Netherlands
- Spain
- Sweden
- Asia Pacific
- Japan
- China
- India
- South Korea
- Taiwan
- Australia
- Vietnam
- Thailand
- Malaysia
- Singapore
- Indonesia
- Philippines
- Latin America
- Middle East and Africa (MEA)
- South Africa
- Turkey
- Egypt
- Iran
- Israel
- Saudi Arabia
- UAE
- List of Key Players in the Wound Care Market
- Smith & Nephew
- Mölnlycke Health Care AB
- ConvaTec Group PLC
- Ethicon (Johnson & Johnson)
- Baxter International
- URGO Medical
- Coloplast Corp.
- Medtronic
- 3M
- Derma Sciences Inc. (Integra LifeSciences)
- Medline Industries
- Advancis Medical
- B. Braun Melsungen AG
