Wound Care Market Analysis by Product Type (Advance Wound Care, and Traditional Wound Care); and by Wound Type (Chronic Wound, and Acute Wound)-Global Supply & Demand Analysis & Opportunity Outlook 2021-2031
21 Oct 2022
Healthcare & Pharmaceuticals
Impact Analysis on the Growth of Market
Inflation and Looming Recession to Haunt Businesses:
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Global Wound Care Market Size, Forecast, and Trend Highlights Over 2021-2031
The global wound care market is estimated to garner a revenue of USD 33,880.9 Million by the end of 2031 by growing at a CAGR of 4.7% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 21,688.4 Million in the year 2021. Primarily, surging case of burn wound incidents is to fuel the growth of wound care market. Burns and fire is common cause of deaths among adults and children. Among the children ages 4 or under, hospitalized due to burn-injuries, nearly 65% of them suffer from scalds burns and 20% are victim of contact burns.
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The rising number of diabetic patients and an increase in other chronic wounds is also projected to propel the wound care market. According to the World Health Organization, in 2019, diabetes stood as the 9th leading cause of deaths and accounted for about 2 million deaths. Furthermore, in 2020, chronic wound affects the life quality of about 3% share of total population in United States. In line ongoing researches and innovation of new technology for wound treatment is expected to augment the wound care market trends.
Global Wound Care Market: Growth Drivers and Challenges
Rising Cases of Burn Injuries and Chronic Disease
Elevated incidence of burn injuries, chronic wounds such as diabetes, pressure injuries, venous ulcers is to propel the market growth. According to the statistics of World Health Organization, every year nearly 1,80,000 people die of burn injuries and most cases are reported from low- and middle-income countries.
Rapid Growth in Number of Geriatrics
Elderly population is most susceptible to injuries and chronic problems such as diabetes, heart disease, fractures and others. As per the data of United Nations, number of adult populations with age of 80 years or above is to multiply by three times, jumping from 143 million in 2019 to 426 million in 2050.
Increased Research on Wound Treatment
New researches and previously ongoing researches have potential to make space for new development and findings for enhancing the procedures of wound treatment. There are 112 studies on venous leg ulcers ongoing on Clinical Trials listed as recruited, enrolled or active.
New Development in Treatment Technology
Innovative technologies are to open various opportunities for wound care market. This way hospitals and clinics have different treatment choices to offer to patients. For instance, Swift Medical announced the launch of Swift Ray 1, the world’s first ever Hyperspectral Imaging Device, it is attached to mobile camera and provide complete clinical data, treatment and assessment to patients.
Increased Popularity of Negative Pressure Wound Therapy
Prevalence of Negative Pressure Wound Therapy (NPWT) has increased in past decade. Moreover, modern NPWT has been very effective for treating tissue defects, chronic wounds and open fractures.According to National Library of medicine, NPWT has potential to mitigate the risk of deep infection by nearly 80%. In addition, it generates 5-20% pressure across the healing tissues, prompting cell division and proliferation.
Exorbitant Cost of Wound Care Treatment Makes It Uneconomical
Shortage of Skin Substitutes Required for Grafting
Amalgamation of Biology of Wound Healing and Pathophysiology of Chronic Wounds Makes Them Difficult to Study
Patient’s body with extensive burn, run out of skin which is to be grafted on affected area is a huge challenged for wound treatment. Moreover, there has been severe shortage of donated skin grafts for the treatment of burns.
The global wound care market is segmented and analyzed for demand and supply by wound type into chronic wound and acute wound. Out of two, the chronic wound segment is anticipated to hold the largest market size by the end of 2031 and also grow with the highest CAGR of 5.0% during the forecast period. Chronic wounds are known as silent epidemic, owing to it slow property of healing. Majorly these wounds are found in geriatric population. Few chronic wounds such as diabetes, heart disease are rising due to sedentary lifestyle and increased obesity among the population. Currently, there are approximately 7 million people who are dealing with chronic and this count is forecasted to rise by two times in next decade. Therefore, increased number of chronic wounds is to elevate the growth of the segment.
Global Wound Care Market Regional Synopsis
Regionally, the global wound care market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2031. The market in North America is expected to grow at a CAGR of 4.4% over the forecast period. In 2021, market in North America was valued at USD 8,935.6 million. This growth is attributed to growing incidence of burn wounds, and chronic wounds such as, diabetic ulcers, venous ulcers and others. Wounds are highly affected by diabetes. In some cases of uncontrolled diabetes, the blood flow in the body decreases, which slows or even completely prevents the healing of wounds. Moreover, chronic wounds are commonly caused by diabetes, vascular disease, arthritis, repetitive trauma on wound site and others. In United States, nearly 34.2 million people are suffering from diabetes, which makes up for around 10% of U.S. population. Furthermore, rise in geriatric population is to propel the wound care market in the region. According to the United States Census Bureau, about 54 million people are over 65 years of age in the United States in 2019. Overall, the wound care market in North America is to garner a revenue of USD 13,654.0 million by the end of 2031.
The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Our in-depth analysis of the global wound care market includes the following segments:
By Product Type
By Wound Type
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Key Companies Dominating the Global Wound Care Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global wound care market that are included in our report are Smith & Nephew, Baxter International Inc., Johnson & Johnson, Medtronic Plc, 3M, Integra Lifesciences, Hollister Incorporated, Acelity L.P. Inc., Coloplast Group, ConvaTec Group Plc, Molnlycke Health Care AB, KOB GmbH, ALCARE Co., Ltd., KAKEN PHARMACEUTICAL CO., LTD., MIMEDX and others.
Global Wound Care Market: Latest Developments
April, 2019: Smith & Nephew has announced the acquisition of Osiris Therapeutics Inc., by getting the $ 19 per share in cash and all over equity value is nearly $660 million. By this acquisition, Smith & Nephew is expecting to speed up the growth of Advanced Wound Management franchise.
September, 2021: Purdue University, Rahim Rahimi an assistant professor has developed a microneedle pierce biofilm for accelerating the process of wound healing by more effective placement of antibiotics.
Key Reasons to Buy Our Report
The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
The report includes detailed company profiles of the major players dominating the market.
We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
FREQUENTLY ASKED QUESTIONS
Growing geriatric population, elevated incidences of burn wounds, popularity of NPWT and new developments are few factors which is expected to drive the market growth.
The market is anticipated to attain a CAGR of 4.7% over the forecast period, i.e., 2022 – 2031.
Expensive wound treatment, tedious research procedure and scarcity of skin graft its donors are the factor which are likely to hamper the market growth.
The market in North America is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market Smith & Nephew, Baxter International Inc., Johnson & Johnson, Medtronic Plc, 3M, Integra Lifesciences, Hollister Incorporated, Acelity L.P. Inc., Coloplast Group, ConvaTec Group Plc, Molnlycke Health Care AB, KOB Japan, ALCARE Co., Ltd., KAKEN PHARMACEUTICAL CO., LTD., MIMEDX and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product type, wound type and by region.
The chronic wound segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
1. Market Definition
1.1. Market Definition
2. Assumptions and Acronyms
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
4. Executive Summary â€“ Global Wound Care Market
5. Market Dynamics
5.1. Market Drivers
5.2. Market Trends
6. Key Market Opportunities
7. Major Roadblocks for the Market Growth
8. Regulatory & Standards Landscape
9. Industry Risk Analysis
10. Analysis on Ongoing Trends in Wound Care Market
11. Pricing Analysis
12. Value Chain Analysis
13. Analysis on Scaffolding Technologies for Wound Healing
14.Analysis on Scaffolding Materials for Wound Healing in Combination with Other Technologies
15. Impact of COVID-19 on the Wound Care Market
17. Competitive Positioning
18. Competitive Landscape
18.1. Company Market Share Analysis
18.2. Competitive Benchmarking
18.3. Company Profiles
184.108.40.206. Smith & Nephew
220.127.116.11. Baxter International Inc.
18.104.22.168. Acelity L.P. Inc.
22.214.171.124. Johnson & Johnson
126.96.36.199. Medtronic Plc (Covidien Plc)
188.8.131.52. Coloplast Group
184.108.40.206. ConvaTec Group Plc
220.127.116.11. Integra Lifesciences
18.104.22.168. Hollister Incorporated
22.214.171.124. Molnlycke Health Care AB
126.96.36.199. KOB GmbH
188.8.131.52. ALCARE Co., Ltd.
184.108.40.206. KAKEN PHARMACEUTICAL Co., Ltd.
220.127.116.11. Other prominent players
19. Global Wound Care Market Outlook
19.1. Market by Value (USD million)
19.2. Market Segmentation
19.2.1. By Product Type
18.104.22.168. Advanced Wound Care, 2021-2031F (USD million)
22.214.171.124.1. Advanced Wound Dressing, 2021-2031F (USD million)
126.96.36.199.2. Biologics, 2021-2031F (USD million)
188.8.131.52.3. NPWT, 2021-2031F (USD million)
184.108.40.206.4. Others, 2021-2031F (USD million)
220.127.116.11. Traditional Wound Care, 2021-2031F (USD million)
18.104.22.168.1. Wound Closure, 2021-2031F (USD million)
22.214.171.124.2. Non-Adherent, 2021-2031F (USD million)
126.96.36.199.3. Wound Cleansers and Debriding Agents, 2021-2031F (USD million)
188.8.131.52.4. Dry Gauze, 2021-2031F (USD million)
184.108.40.206.5. Others, 2021-2031F (USD million)
19.2.2. By Wound Type
220.127.116.11. Chronic Wound, 2021-2031F (USD million)
18.104.22.168. Acute Wound, 2021-2031F (USD million)
19.2.3. By Region
22.214.171.124. North America, 2021-2031F (USD million)
126.96.36.199. Europe, 2021-2031F (USD million)
188.8.131.52. Asia Pacific, 2021-2031F (USD million)
184.108.40.206. Latin America, 2021-2031F (USD million)
220.127.116.11. Middle East and Africa, 2021-2031F (USD million)
20. North America Wound Care Market Outlook
20.1. Market by Value (USD million)
20.2. Market Segmentation
20.2.1. By Product Type
18.104.22.168. Advanced Wound Care, 2021-2031F (USD million)
22.214.171.124.1. Advanced Wound Dressing, 2021-2031F (USD million)
126.96.36.199.2. Biologics, 2021-2031F (USD million)
188.8.131.52.3. NPWT, 2021-2031F (USD million)
184.108.40.206.4. Others, 2021-2031F (USD million)
220.127.116.11. Traditional Wound Care, 2021-2031F (USD million)
18.104.22.168.1. Wound Closure, 2021-2031F (USD million)
22.214.171.124.2. Non-Adherent, 2021-2031F (USD million)
126.96.36.199.3. Wound Cleansers and Debriding Agents, 2021-2031F (USD million)
188.8.131.52.4. Dry Gauze, 2021-2031F (USD million)
184.108.40.206.5. Others, 2021-2031F (USD million)
20.2.2. By Wound Type
220.127.116.11. Chronic Wound, 2021-2031F (USD million)
18.104.22.168. Acute Wound, 2021-2031F (USD million)
20.2.3. By Country
22.214.171.124. US, 2021-2031F (USD million)
126.96.36.199. Canada, 2021-2031F (USD million)
21. Europe Wound Care Market Outlook
21.1. Market by Value (USD million)
21.2. Market Segmentation
21.2.1. By Product Type
21.2.2. By Wound Type
21.2.3. By Country
188.8.131.52. UK, 2021-2031F (USD million)
184.108.40.206. Germany, 2021-2031F (USD million)
220.127.116.11. France, 2021-2031F (USD million)
18.104.22.168. Italy, 2021-2031F (USD million)
22.214.171.124. Spain, 2021-2031F (USD million)
126.96.36.199. Russia, 2021-2031F (USD million)
188.8.131.52. Netherlands, 2021-2031F (USD million)
184.108.40.206. Rest of Europe, 2021-2031F (USD million)
22. Asia-Pacific Wound Care Market Outlook
22.1. Market by Value (USD million)
22.2. Market Segmentation
22.2.1. By Product Type
22.2.2. By Wound Type
22.2.3. By Country
220.127.116.11. China, 2021-2031F (USD million)
18.104.22.168. India, 2021-2031F (USD million)
22.214.171.124. Japan, 2021-2031F (USD million)
126.96.36.199. South Korea, 2021-2031F (USD million)
188.8.131.52.Singapore, 2021-2031F (USD million)
184.108.40.206. Australia, 2021-2031F (USD million)
220.127.116.11. Rest of Asia-Pacific, 2021-2031F (USD million)
23. Latin America Wound Care Market Outlook
23.1. Market by value (USD million)
23.2. Market Segmentation
23.2.1. By Product Type
23.2.2. By Wound Type
23.2.3. By Country
18.104.22.168. Brazil, 2021-2031F (USD million)
22.214.171.124. Mexico, 2021-2031F (USD million)
126.96.36.199. Argentina, 2021-2031F (USD million)
188.8.131.52. Rest of Latin America, 2021-2031F (USD million)
24. Middle East & Africa Wound Care Market Outlook
24.1. Market by value (USD million)
24.2. Market Segmentation
24.2.1. By Product Type
24.2.2. By Wound Type
24.2.3. By Country
184.108.40.206. GCC, 2021-2031F (USD million)
220.127.116.11. Israel, 2021-2031F (USD million)
18.104.22.168. South Africa, 2021-2031F (USD million)
22.214.171.124. Rest of Middle East & Africa, 2021-2031F (USD million)
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- Smith & Nephew
- Baxter International Inc.
- Johnson & Johnson
- Medtronic Plc
- Integra Lifesciences
- Hollister Incorporated
- Acelity L.P. Inc.
- Coloplast Group
- ConvaTec Group Plc
- Molnlycke Health Care AB
- KOB GmbH
- ALCARE Co. Ltd.
- KAKEN PHARMACEUTICAL CO. LTD.