Press Release

Wound Care Market to Elevate with the Surge in the Prevalence of Chronic & Acute Wounds

The Global Wound Care Market is projected to grow at a CAGR of 5.3% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The expansion of the market is primarily driven by the increasing incidence of chronic wounds worldwide, such as diabetic foot ulcers, venous ulcers, and pressure ulcers. This trend is further fueled by the growing elderly population, which has slower healing abilities, as well as the rising prevalence of diabetes & obesity.

Furthermore, the rising number of injuries from road accidents, burns, and trauma is accelerating market expansion, particularly as road accident wounds often result in tissue loss, necessitating products like collagens, foams, and combination dressings with antimicrobials.

Additionally, the global increase in surgical procedures has resulted in a higher number of surgical wounds & infections, contributing to the market's growth. Further, significant advancements in healthcare, supported by substantial investments from governments and public/private sectors, are also expected to drive market growth.

Moreover, educational programs, training initiatives, conferences, and the promotion of evidence-based practices are increasing awareness about the importance of proper wound care management. This has led to rapid adoption of advanced wound care products & therapies, further states the research report, “Global Wound Care Market Analysis, 2024.”

Global Wound Care Market Segmentation Analysis

Advanced Wound Dressings to Dominate the Global Wound Care Market

Based on the product segment, the market is further categorized into Advanced Wound Dressings, Surgical Wound Care, and Wound Therapy Devices. The Advanced Wound Dressings segment is estimated to acquire the largest market share in the year ahead. These innovative products incorporate cutting-edge technologies & materials and are revolutionizing how healthcare professionals approach wound healing. They offer superior healing capabilities compared to traditional wound dressings and are designed to create an optimal healing environment by regulating moisture levels, promoting tissue regeneration, & protecting against infection.

Advanced wound care products, including foams, impregnated gauzes, honey, and silver dressings, are gaining popularity globally due to their antimicrobial properties and bioactive components. These features contribute to faster and more effective wound healing, leading to improved patient outcomes.  

North America Witnessed Considerable Growth in the Global Wound Care Market

In the dynamic landscape of the Global Wound Care Market, North America stands tall as a frontrunner among all the other regions worldwide. North America's leading position in the wound care market is driven by factors such as the presence of key players, continuous product innovations, well-established healthcare infrastructure, and supportive government initiatives. The region has witnessed a rise in chronic illnesses like diabetic ulcers, venous disease, and arterial injuries, leading to a higher demand for advanced wound care products.

Additionally, the rising incidence of road accidents, burns, and trauma in the US and Canada has prompted manufacturers to innovate in wound healing biologics and expand their production capacities, creating lucrative opportunities in the regional market.

The increasing number of surgical procedures in North America has further boosted the demand for effective wound care products such as sealants and adhesives. Also, favorable reimbursement policies, along with the growing preference for shorter hospital stays, are driving market growth.

Global Wound Care Market Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including 3M Company, Cardinal Health, Medtronic Plc, Smith & Nephew Plc, Molnlycke Health Care AB, Johnson & Johnson Services, Inc., Baxter International, Urgo Group, Integra LifeSciences Corporation, Applied Tissue Technologies LLC, Advancis Medical, Coloplast Corp., Convatec Group PLC, Paul Hartmann AG, Axio Biosolutions Pvt Ltd., etc., are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the Global Wound Care Market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various countries?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?