According to the Market Statsville Group (MSG), the global wound care market size is expected to grow from USD 22,517.3 million in 2021 to USD 35,535.1 million by 2030, at a CAGR of 5.2% from 2022 to 2030. Wound care products are used to promote wound healing and infection management. Antimicrobial dressings, collagen dressings, film dressings, foam dressings, and skin-care products are typical wound care products. Diabetes patients frequently develop diabetic foot ulcers, treated using wound care products. According to ScienceDirect, diabetic foot ulcers may afflict more than 25% of the diabetic population and may result in foot amputation in 20% of patients. Wound care solutions such as hydrocolloid dressings aid in moisture retention and faster wound healing both inside and externally. Furthermore, these medications aid in the absorption of necrotic tissues, making them useful in situations of surgical site infections. As a result, healthcare professionals prefer to employ wound care products, which are expected to drive market growth over the forecast period.
The market expansion in this industry is the rising prevalence of acute and chronic disorders such as diabetic foot ulcers and bedsores. It will also provide impetus to the market when combined with introducing and adopting technologically advanced wound care products. Furthermore, sustained R&D and greater investment in sophisticated wound care products might drive growth in the future years. Cancer has been a worldwide healthcare burden as one of the leading causes of mortality. According to WHO figures, the illness accounts for one out of every six fatalities. Furthermore, it was shown that low-income nations account for more than 70% of cancer-related mortality.
The number of treatments conducted has grown in tandem with the prevalence of chronic conditions. Thus, wound care products are used more often to avoid surgical site infections. Most surgical wounds following cancer surgery are generally large and deep, resulting in exudate that must be handled regularly. Negative Pressure Wound Therapy (NPWT) devices, sutures, and staples help manage large wounds, significantly minimizing the risk of infection. However, high treatment costs and the absence of reimbursement regulations, particularly in developing countries, may hinder market expansion.
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COVID-19 Impact on the Global Wound Care Market
The onset of the COVID-19 pandemic has altered medical care delivery worldwide. The increased strain caused by the rising prevalence of COVID-19 hospitalization has resulted in several hospitals and departments re-profiling for treating COVID-19 patients. As a result, numerous elective procedures have been canceled or postponed worldwide to reserve or allocate scarce capabilities and resources (such as hospital beds and patient care specialists) toward COVID-19 patient care.
According to a study published in Advances in Wound Care, by June 2020, 80 percent of healthcare service providers wearing PPE kits during COVID-19 service duties had multiple types of skin injuries, including device-related pressure injuries, moisture-associated skin damage, and partial to full-thickness skin tears. In severe circumstances, these injuries can result in partial or total loss of skin flaps and persistent sores. These wounds are found on the nasal bridge, cheekbones, ears, forehead, armpits, groyne, and extremities. Doctors and nurses employ wound care products such as foam dressings, hydrocolloid dressings, different oils/creams, and various oils mixed with dressings to treat such injuries (using grade 2 and 3 PPE kits). During the COVID-19 pandemic and the projection period, such cases are projected to fuel the global expansion of the wound care products market.
Global Wound Care Market Dynamics
Drivers: The Adoption of Technologically Advanced Products to Encourage Market Growth
Increased investment in R&D and the introduction of innovative products by market participants such as B. Braun Melsungen AG and ConvaTec Group PLC are projected to drive demand for these goods, particularly in developed nations. ConvaTec Group PLC, for instance, launched ConvaMax on the global market in January 2020. The novel ConvaMax wound dressing was designed to treat highly oozing wounds such as pressure ulcers, leg ulcers, and diabetic foot ulcers. Furthermore, the specific therapeutic benefits provided by negative pressure wound treatment (NPWT) and the development of enhanced features such as single-use by market players are increasing the acceptance of NPWT devices among healthcare professionals globally.
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Smith & Nephew, for instance, announced the March 2020 launch of the 'PICO 14' single-use NPWT System in the US market to minimize the risk of surgical wound dehiscence and surgical site infection. Thus, launching such revolutionary solutions for quick healing is predicted to increase patient and healthcare provider acceptance. This is projected to boost the expansion of the global wound care market in the near future.
Restraints: Delays in diagnosing advanced and chronic wounds in developing countries are restricting product adoption
Chronic wounds, such as pressure ulcers, diabetic foot ulcers, and leg ulcers, can evolve from mild to severe due to delayed diagnosis and treatment, resulting in foot amputation. Compared to Western nations, the rate of delayed diagnosis is significantly greater in rising countries such as India, China, and Brazil. This is due to a lack of public knowledge about difficult-to-heal wounds, a lack of access to well-developed healthcare infrastructure, and a lack of clear rules and action plans by governing organizations.
For instance, according to research published in the Journal of Foot and Ankle Surgery (Asia-Pacific), most patients in west India are delayed in receiving a diagnosis of foot ulcers, including diabetic/neuropathic ulcers, by more than one month to one year. As a result, all of the aforementioned constraints and the lack of favourable reimbursement policies for chronic and acute wounds are largely responsible for lower diagnostic rates, restricting the adoption of these products in developing nations.
Opportunities: Rising investments for R & D activities
Growing R&D investments and the introduction of new, technologically advanced products to treat various types of wounds will create lucrative opportunities for the overall wound care market
Furthermore, an increase in the occurrence of chronic and surgical wounds is predicted to have a beneficial influence on wound care product demand, assisting in expanding the wound care market. The increase of burns in various body sections is also predicted to boost the wound care market expansion.
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Scope of the Global Wound Care Market
The study categorizes the wound care market based on product, wound type and end user at regional and global levels.
By Product Outlook (Sales, USD Million, 2017-2030)
- Advanced Wound Care Products
- Surgical Wound Care Products
- Traditional Wound Care Products
By Wound Type Outlook (Sales, USD Million, 2017-2030)
- Surgical & Traumatic Wounds
- Diabetic Foot Ulcers
- Pressure Ulcers
- Venous Leg Ulcers
- Burns & Other Wounds
By End User Outlook (Sales, USD Million, 2017-2030)
- Hospitals and Clinics
- Long-Term Patient Care
- Home Care Settings
- Other End Users
By Region Outlook (Sales, USD Million, 2017-2030)
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA
Hospitals and clinics segment accounts for the largest market share by end user
Based on the end user, the wound care market is divided into hospitals and clinics, home care settings, long-term patient care, and other end users. In 2021, the hospitals and clinics segment led the wound care market. The rise of this market may be linked to an increase in surgical operations worldwide due to sedentary lifestyles, coupled with an increase in bariatric surgeries, which need the use of wound care products to prevent surgical site infections. Furthermore, surgical wound care dressings and NPWT are primarily intended for hospital usage and inappropriate for homecare. Furthermore, healthcare institutions are regarded as big customers of wound care products, with long-term contracts with vendors. Thus, the aforementioned factors, the category is expected to grow over the forecast period.
Furthermore, an increase in hospital admissions owing to surgeries is expected to drive category growth throughout the projection period. Patients typically require wound care products following surgery to repair surgical site wounds. The category is predicted to increase significantly throughout the forecast period.
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North America accounts for the largest market share by Region
Based on the regions, the global wound care market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. North America dominated the wound care market in 2021 due to the presence of a huge population base and a growing patient pool in nations such as the United States. Moreover, the older population is more vulnerable to wounds, which will drive up the demand for wound care products in this region. According to the Administration for Community Living's aging and health statistics, the percentage of persons aged 65 and more was 54.1 million in 2019, accounting for 16 percent of the population.
As a result, such market trends are likely to assist North America is dominating the overall market.
Key Market Players in the Global Wound Care Market
The global wound care market is highly competitive, with key industry players adopting strategies such as partnerships, acquisitions, product development, agreements, and expansion to strengthen their market positions. Most companies in the market are indulged in expanding business across regions, enhancing their capabilities, and molding strong partner relations.
Major players in the global wound care market are:
- Smith & Nephew
- Mölnlycke Health Care AB
- ConvaTec Group PLC
- Ethicon (Johnson & Johnson)
- Baxter International
- URGO Medical
- Coloplast Corp.
- Derma Sciences Inc. (Integra LifeSciences)