Wound Care Market

Global Wound Care Market Forecast

• In 2022, the market for wound care reached US$21.2 Bn and is expected to jump to a valuation of US$28.8 Bn by 2030.
• Market size is likely to expand at a CAGR of 4.50% between 2023 and 2030.

Major Report Findings - Fairfield's Perspective

1. The key trend anticipated to fuel the wound care market growth is the growing prevalence of chronic wounds, including diabetic foot ulcers, pressure ulcers, and venous leg ulcers, which is a significant driver for the wound care market. Factors such as ageing populations, rising rates of diabetes, and lifestyle-related conditions contribute to the higher incidence of chronic wounds.
2. Another major market trend expected to fuel the wound care market growth is the increasing number of surgical procedures, including elective and trauma-related surgeries, necessitates effective wound management and accelerates the demand for wound care products and solutions.
3. In 2022, the advanced wound care products category dominated the industry. Advanced wound care products include a wide range of dressings, therapies, and devices designed to promote faster wound healing, reduce infection rates, and provide optimal wound management.
4. In terms of market share for wound care globally, the surgical and traumatic segment is anticipated to dominate. This wound type has historically been a significant focus in the wound care market due to the prevalence of surgical procedures and traumatic injuries, necessitating effective wound care products and solutions for optimal healing.
5. In 2022, the hospitals and clinics category controlled the market. These healthcare facilities handle a large volume of patients with various wound types, requiring a wide array of wound care products and solutions for effective wound management.
6. The traditional wound care category is highly prevalent in the market for wound care market. Traditional wound care products are often more affordable and cost-effective compared to their advanced counterparts. In regions with constrained healthcare budgets or limited access to advanced medical facilities, traditional wound care products present a viable and economical option for wound management.
7. The North American region is anticipated to account for the largest share of the global wound care market, owing to serval factors such as various technological advancements and the prevalence of traumatic wounds.
8. The market for wound care is expanding in the Asia Pacific region due to rapid economic growth and technological advancements. The region is witnessing a rapidly ageing population, leading to an increased incidence of chronic conditions such as diabetes, and cardiovascular diseases, resulting in a higher prevalence of chronic wounds.

A Look Back and a Look Forward - Comparative Analysis

The wound care market is experiencing significant growth driven by several factors. Technological advancements have led to the development of advanced wound care products that offer better healing outcomes and reduced healing times. Dressings, devices, and therapies have evolved to cater to specific wound types, including surgical wounds, traumatic wounds, diabetic foot ulcers, pressure ulcers, venous leg ulcers, and burns.

Market dynamics are also influenced by the increasing prevalence of chronic diseases like diabetes, an ageing global population, and a rising number of surgical procedures. These factors drive the demand for wound care solutions, emphasizing the need for advanced products and effective wound management strategies.

The market witnessed staggered growth during the historical period 2018 – 2022. Initially, wound care primarily involved basic dressings and basic wound management practices. However, advancements in medical science and technology have led to the development of sophisticated wound care products, including bioengineered skin substitutes, negative pressure wound therapy, and growth factors, improving overall wound healing outcomes.

The wound care market is poised for substantial growth with a strong focus on sustainability, performance, and versatility. The wound care market is anticipated to continue its growth trajectory, driven by ongoing research and development efforts to enhance wound healing technologies and outcomes. Future wound care products are expected to focus on minimising healing time, reducing scarring, and optimising patient comfort and convenience.

The integration of advanced technologies like telemedicine, smart dressings, and real-time wound monitoring systems is likely to revolutionise wound care delivery, enabling remote monitoring and personalised treatment plans. Furthermore, a shift towards more sustainable wound care products and emphasis on cost-effective solutions is anticipated to shape the future wound care landscape.

Key Growth Determinants

• Increasing Significance of Advanced Wound Care Across Non-Healthcare Areas

The global wound care market is set to experience a surge in growth, propelled by the heightened demand for advanced wound care products across a diverse range of industries. Several key factors drive this demand.

Industries such as healthcare, pharmaceuticals, sports and athletics, military and defence, and veterinary care increasingly recognise the crucial role of advanced wound care in facilitating quicker healing and minimising complications.

The healthcare sector is witnessing a significant rise in surgical procedures and chronic wound cases due to a growing ageing population and a rise in lifestyle-related diseases like diabetes, and obesity.

• Demand Surge at Hospitals and Clinics

Hospitals and clinics are expected to play a pivotal role in propelling the expansion of the wound care market. With a substantial rise in surgical procedures, chronic illnesses, and traumatic injuries globally, the demand for effective wound care solutions is rapidly increasing. Hospitals and clinics serve as primary hubs for wound care, where patients receive immediate and specialised attention for a variety of wound types, ranging from surgical incisions to chronic ulcers.

The advancements in wound care technologies and the availability of a wide array of wound care products have significantly improved the treatment and management of wounds within these healthcare settings. The emphasis on infection control, faster wound healing, and enhanced patient outcomes is driving the adoption of advanced wound care products and therapies.

• Increasing Incidence of Chronic Wounds

The burgeoning incidence of chronic wounds is expected to be a major driver fuelling market growth in the wound care industry. Chronic wounds, such as diabetic foot ulcers, pressure ulcers, and venous leg ulcers, are becoming increasingly prevalent due to various factors, including an ageing population, a rise in the incidence of diabetes and obesity, and a growing number of patients with circulatory disorders. These wounds are persistent and slow to heal, often leading to severe complications and an immense burden on the healthcare system.

Major Growth Barriers

• High Costs of Advanced Wound Care Products

The high cost of advanced wound care products poses a notable constraint, limiting the broader expansion of the wound care market. These advanced wound care products, while highly effective and technologically sophisticated, often come with a substantial price tag.

The expenses associated with research, development, and manufacturing of these specialised products contribute to their high cost. This cost factor can act as a significant barrier, particularly in regions with constrained healthcare budgets and individuals facing financial limitations.

• Concerns Around Adverse Effects and Allergies

Concerns about adverse effects and allergies present a significant hurdle, hindering the seamless expansion of the wound care market. While advanced wound care products offer substantial benefits in promoting faster healing and minimising infection risks, there are valid concerns about potential adverse reactions and allergies associated with certain ingredients or materials used in these products.

Patients and healthcare professionals are increasingly cautious about using wound care solutions that might trigger allergic responses or adverse effects, ranging from skin irritation to more severe complications.

Key Trends and Opportunities to Look at

• Growing Demand for Advanced Wound Care Products

The demand for advanced wound care products is experiencing significant growth owing to several compelling factors. The evolving landscape of healthcare is witnessing a remarkable shift toward advanced wound care solutions due to their superior efficacy in promoting accelerated wound healing, reducing infection rates, and improving overall patient outcomes.

Advanced wound care products encompass a wide array of innovative dressings, therapies, and devices that cater to specific wound types and patient needs. These include foam dressings, hydrocolloids, hydrogels, negative pressure wound therapy (NPWT) devices, bioengineered skin substitutes, and growth factors, among others.

• Focus on Patient-Centric Wound Care

Wound care was primarily focused on treating the wound itself. However, a paradigm shift has occurred, placing the patient and their overall well-being at the centre of wound care strategies.

Patient-centric wound care considers not only the physical aspect of wound healing but also the patient's psychological, social, and lifestyle needs. It involves personalised treatment plans that align with the patient's preferences and circumstances, promoting engagement and collaboration in the healing process.

Healthcare providers now emphasize education, communication, and shared decision-making, empowering patients to participate in their wound care journey actively. This approach not only enhances patient satisfaction but also improves treatment adherence and outcomes.

• Rise in Chronic Wounds, and Lifestyle Diseases

The rise in chronic wounds and lifestyle diseases is a critical healthcare concern with far-reaching implications. Lifestyle diseases, often linked to modern sedentary lifestyles, poor dietary habits, and increased stress, are on the upsurge globally. Conditions like diabetes, obesity, cardiovascular diseases, and hypertension have become prevalent, creating a significant population base susceptible to chronic wounds.

Chronic wounds, such as diabetic foot ulcers, pressure ulcers, and venous leg ulcers, are persistent and slow to heal, posing a substantial burden on both patients and healthcare systems. The interplay between lifestyle diseases and chronic wounds is evident, as these conditions compromise the body's natural healing processes.

How Does the Regulatory Scenario Shape this Industry?

Over the last three years, the regulatory environment has had a significant impact on how the wound care market develops. The regulatory scenario significantly shapes the wound care industry, impacting product development, market access, quality standards, and overall competitiveness. Regulatory bodies, such as the US FDA, European Medicines Agency (EMA), and others, play a vital role in ensuring that wound care products meet stringent safety, efficacy, and quality standards before they enter the market.

Compliance with these regulations is crucial for product approval, commercialisation, and market acceptance. Stringent regulatory guidelines necessitate rigorous testing and validation of wound care products, ensuring they meet predefined safety and performance criteria. Manufacturers must demonstrate the effectiveness of their products through clinical trials and data submissions, providing evidence of their benefits in wound healing, and patient care.

Fairfield’s Ranking Board

Top Segments

1. Advanced Wound Care Products Continue to Record Dominant Sales

In the wound care market, the advanced wound care products category continues to dominate over the traditional wound care products category. The advanced wound care products category had been asserting dominance over traditional wound care product segments in the wound care market. This shift in dominance can be attributed to several factors. Advanced wound care products offer superior benefits such as enhanced wound healing, reduced healing time, better infection control, and improved patient comfort compared to traditional wound care products.

Furthermore, the traditional wound care products category is projected to experience the fastest market growth. Traditional wound care products are often more affordable and cost-effective compared to their advanced counterparts. In regions with constrained healthcare budgets or limited access to advanced medical facilities, traditional wound care products present a viable and economical option for wound management. Additionally, these products have witnessed advancements in terms of materials and design, enhancing their efficacy and usability.

2. Surgical & Traumatic Wounds Category Accounts for the Largest Revenue Share

In 2022, the surgical & traumatic wounds category dominated the industry. Surgical procedures are on the rise globally, driven by an ageing population, increased access to healthcare services, and advancements in medical technologies. With more surgeries being performed, the incidence of surgical wounds increases, necessitating effective wound care solutions to aid the healing process and prevent infections.

Traumatic wounds resulting from accidents, injuries, or emergencies also contribute significantly to this category. Trauma cases are unfortunately common and require immediate and specialised wound care to ensure optimal healing and minimise complications.

The diabetic foot ulcers category is anticipated to grow substantially throughout the projected period. Diabetes prevalence is escalating globally, and one of its severe complications is diabetic foot ulcers (DFUs).

The rising incidence of diabetes, largely attributed to lifestyle changes and an ageing population, directly correlates with an increased occurrence of DFUs. Patients with diabetes often experience impaired wound healing and are more susceptible to chronic wounds, particularly in the lower extremities. Therefore, the demand for effective wound care solutions to manage diabetic foot ulcers is on the rise.

3. Adoption Remains Highest in Hospitals and Clinics

The hospitals and clinics segment dominated the market in 2022. Hospitals and clinics are the primary centres for wound care treatment, serving a vast and diverse patient population with varying wound types, ranging from surgical wounds to chronic ulcers. The growing number of surgical procedures worldwide, driven by an increasing incidence of chronic diseases and a rise in elective surgeries, significantly contributes to the demand for wound care products and services within these healthcare settings.

Additionally, advancements in wound care technology and the availability of skilled healthcare professionals in hospitals and clinics ensure the effective and specialised management of wounds.

The long-term patient care category is expected to experience the fastest growth within the forecast time frame. This surge in growth can be attributed to a combination of factors. The ageing global population is contributing to an increased incidence of chronic and complex wounds, which necessitate prolonged care and advanced wound management solutions. Long-term care facilities, nursing homes, and home healthcare settings cater to a significant portion of this demographic.

Regional Frontrunners

North America Secures the Leading Position

North America continues to be a dominant and largest revenue-contributing region in the global wound care market. The region's prominence in the market can be attributed to several factors. Firstly, with a rising incidence of chronic diseases, contributing to a high prevalence of chronic wounds such as diabetic foot ulcers, pressure ulcers, and venous leg ulcers.

Additionally, the region has a well-established healthcare infrastructure and a strong focus on technological advancements and healthcare innovation. This facilitates the rapid adoption of advanced wound care products, including bioactive dressings, negative pressure wound therapy (NPWT), and skin substitutes, which offer improved healing outcomes and reduced hospital stays.

Moreover, the shift towards outpatient care and home-based wound management further drives the demand for technologically advanced and easy-to-use wound care solutions.

Significant Prospects Await Asia Pacific Through 2030

Asia Pacific is anticipated to witness significant growth in the advanced wound care products category during the forecast period in the wound care market. The region has a rapidly ageing population, leading to an increased incidence of chronic conditions such as diabetes and cardiovascular diseases, resulting in a higher prevalence of chronic wounds.

The region is also experiencing significant economic growth and development, leading to increased healthcare expenditure. This allows for greater accessibility to advanced wound care products and treatments. Moreover, the expansion of healthcare infrastructure, advancements in healthcare technologies, and the increasing adoption of advanced wound care solutions further bolster the market.

Fairfield’s Competitive Landscape Analysis

The global wound care market is a consolidated market with fewer major players present across the globe. The key players are introducing new products as well as working on the distribution channels to enhance their worldwide presence. Moreover, Fairfield Market Research is expecting the market to witness more consolidation over the coming years.

Who are the Leaders in the Global Wound Care Space?

• Smith & Nephew
• 3M
• Johnson & Johnson (Ethicon)
• Coloplast
• Molnlycke Health Care
• Acelity
• ConvaTec
• BSN medical (Now Part of Essity)
• Medtronic
• Hollister Incorporated
• Integra LifeSciences
• Paul Hartmann AG
• Braun Melsungen AG
• Cardinal Health
• Essity AB

Significant Company Developments

New Product Launch

• June 2022: Smith & Nephew, a major player in the wound care market, launched products such as PICO 7 Single Use Negative Pressure Wound Therapy System, a portable and disposable system for managing surgical wounds and chronic wounds.
• September 2021: 3M introduced products like Tegaderm™ Silicone Foam Dressings and Tegaderm™ Absorbent Clear Acrylic Dressings, offering advanced wound care solutions with improved comfort and performance.
• November 2019: Johnson & Johnson, through its subsidiary Ethicon, launched products like DERMABOND PRINEO Skin Closure System, designed for effective wound closure and healing in surgical procedures.

Distribution Agreement

• May 2021: Kane Biotech announced distribution agreement with ProgenaCare Global for its coactiv+™ antimicrobial wound gel.
• February 2020: InfuSystem announced distribution agreement with Genadyne for negative pressure wound therapy systems.

An Expert’s Eye

Demand and Future Growth

The demand for wound care is expected to expand significantly. The wound care market is positioned for substantial demand and significant growth in the foreseeable future. Factors driving this demand include a rising global incidence of chronic wounds due to an ageing population and a surge in lifestyle-related diseases like diabetes and obesity. These conditions often result in chronic ulcers and wounds, necessitating advanced wound care solutions to facilitate faster healing and reduce infection risks.

Moreover, the increasing number of surgical procedures globally amplifies the need for effective wound management, further boosting market demand. The heightened awareness about the importance of wound care and the advent of technologically advanced products, such as smart dressings and bioengineered skin substitutes, are reshaping the market landscape.

Supply Side of the Market

According to our analysis, the supply side of the wound care market reflects a dynamic landscape characterised by fierce competition and rapid technological advancements. The market is witnessing a surge in the development and production of technologically advanced wound care products, driven by a relentless focus on research and development. Companies are investing significantly in developing bioactive wound dressings, smart wound monitoring devices, and advanced wound healing therapies to enhance patient outcomes.

Moreover, there is a growing trend toward sustainability, leading to the production of eco-friendly wound care products and environmentally responsible packaging. Collaboration and partnerships between industry players and research institutions are fostering advancements in wound care, enabling a more efficient and sustainable supply chain. Furthermore, adherence to stringent regulatory requirements is paramount, necessitating ongoing efforts by manufacturers to ensure compliance, safety, and efficacy of their products.

Global Wound Care Market is Segmented as Below:

By Product Type:

• Advanced Wound Care Products
• Surgical Wound Care Products
• Traditional Wound Care Products

By Wound Type:

• Surgical and Traumatic Wounds
• Diabetic Foot Ulcers
• Pressure Ulcers
• Venous Leg Ulcers
• Burns & Other Wounds

By End User:

• Hospitals and Clinics
• Long-Term Patient Care
• Home Care Settings
• Others

By Geographic Coverage:

• North America 
  • U.S.
  • Canada 
• Europe 
  • Germany
  • U.K.
  • France
  • Italy
  • Turkey
  • Russia
  • Rest of Europe 
• Asia Pacific 
  • China
  • Japan
  • South Korea
  • India
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America 
  • Brazil 
  • Mexico 
  • Argentina
  • Rest of Latin America 
• Middle East & Africa  
  • GCC 
  • South Africa
  • Egypt
  • Nigeria
  • Rest of the Middle East & Africa