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

 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.

GET A SAMPLE COPY OF THIS REPORT

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 9^th 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

Growth Drivers

• 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.

Challenges

• 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).

Market Segmentation

Our in-depth analysis of the global wound care market includes the following segments:

Customize this Report: Request Customization

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. 

Geography Analysis:

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

.