Feb 28, 2023
English - UK
Pramod Pawar
The wound care market encompasses all types of wounds. This sector includes wound dressings, therapy devices, and other related supplies.
Global Wound Care Market size is expected to be worth around USD 30.2 Bn by 2032 from USD 18.4 Bn in 2022, growing at a CAGR of 5.2% during the forecast period from 2022 to 2032, according to a new study by Market.us.
In the coming years, numerous factors will propel growth in the global wound care market. An aging population and rising prevalence of chronic conditions like pressure ulcers and diabetic foot ulcers will be major drivers for growth in chronic wounds; additionally, increased surgeries will boost demand for advanced wound-care products as well.
The global wound care market is expected to experience rapid growth over the coming years, driven by several factors. One major driver is an increasing prevalence of chronic diseases such as diabetes and obesity which may cause chronic wounds. Furthermore, an aging population has further added fuel to this growth by making people more prone to chronic wounds and other age-related health issues.
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North America: North America is the leading market for wound care products, as chronic wounds become an increasing problem due to technological advancements and established market players.
Europe: Europe is the second-largest market for wound care products in Europe, due to an increasing number of chronic illnesses and an aging population. This industry is highly regulated and strives to reduce healthcare expenses.
Asia-Pacific: Wound products are on the rise due to increased awareness, rising healthcare spending and an aging population. Unfortunately, this market remains highly fragmented with many local players dominating it.
Latin America: This market is driven by an increase in chronic diseases, medical tourism growth and the availability of wound care products. It is highly competitive, with both local and global players competing for market share.
Middle East and Africa: This market is driven by an increase in chronic diseases, rising healthcare spending, as well as the presence of large players. Despite being highly fragmented, it features both local and global players participating.
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To fuel market expansion, introduce technologically advanced products.
Due to increased investment in research and development, these products will be in high demand across the developed world. ConvaTec Group PLC released ConvaMax onto the global market in January 2020; a super absorber wound dressing designed specifically for treating high-exuding wounds such as leg ulcers, pressure ulcers, and diabetic foot ulcers.
Negative pressure wound therapy (NPWT) offers many clinical advantages and is becoming more widely adopted among healthcare professionals around the world, thanks to advances such as single-use market players. Smith & Nephew announced in March 2020 that their single-use NPWT system 'PICO14' would be available on U.S. shores to reduce surgical site infection risk and dehiscence. Furthermore, novel products designed for rapid healing are likely to gain acceptance among both patients and healthcare professionals, potentially fuelling growth within this sector in near future.
Delays in Diagnosis for Advance Wounds and Chronic Wounds in Emerging Countries Can Be attributed to Product Adoption Limitations
Due to the delay in diagnosis and treatment, chronic wounds such as pressure ulcers, diabetic foot ulcers, and leg ulcers can become more severe and even lead to amputations. In emerging countries like India, China, and Brazil, the rate of delayed diagnosis is significantly higher than in developed countries. This is due to a lack of awareness in the populace about hard-to-heal wounds, limited access and development to healthcare infrastructure, and a lack of established guidelines and action plans from governing bodies.
According to an article published in the Journal of Foot and Ankle Surgery Asia-Pacific, it was found that most foot ulcer patients in West India are delayed for more than one month to up to one full year. This includes diabetic/neuropathic ones. All of the above and the lack of favorable reimbursement policies are responsible for a lower diagnosis rate, which in turn, limits the adoption of these products by emerging countries.
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Based on Type
Based on Application
Based on End-User
Report Attribute | Details |
The market size value in 2022 | USD 18.4 Bn |
Revenue forecast by 2032 | USD 30.2 Bn |
Growth Rate | CAGR Of 05.02% |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of the World |
Historical Years | 2017-2022 |
Base Year | 2022 |
Estimated Year | 2023 |
Short-Term Projection Year | 2028 |
Long-Term Projected Year | 2032 |
Q. What is the wound care market?
Answer: The wound care market includes products and devices that are used to treat acute and chronic wounds, including diabetic foot ulcers, pressure ulcers, and venous leg ulcers.
Q. What is the size of the wound care market?
Answer: Global Wound Care Market size is expected to be worth around USD 30.2 Bn by 2032 from USD 18.4 Bn in 2022, growing at a CAGR of 5.2% during the forecast period from 2022 to 2032.
Q. What are the different types of wound care products?
Answer: Wound care products can be broadly classified into two categories - traditional wound care products and advanced wound care products and Surgical wound care products.
Q. What are the key players in the wound care market?
Answer: The key players in the wound care market include Smith & Nephew Plc., 3M Company, Medtronic Plc., Coloplast A/S, Cardinal Health, PAUL HARTMAN AG, Molnlycke Health Care AB, Johnson & Johnson Services, Conva Tech, Inc., B Braun Melsungen AG, Bactiguard AB, Paul Heartman AG, MiMedx Group, Inc., Investor AB, Baxter International Inc., Derma Science Inc., BSN Medical GmbH, Other Key Players
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