Global Wound Care Market Research Report: Forecast (2024-2030)

Market Definition

Wound care is the medical management & treatment of wounds to promote healing, prevent complications, and restore the affected area to its optimal functioning state. Wounds can arise from various causes like trauma, surgical procedures, chronic conditions, or underlying health issues. The prime motive of wound care is to facilitate the healing process, minimize pain, prevent infection, and promote the growth of new tissue.

Market Insights & Analysis: Global Wound Care Market (2024-30):

The Global Wound Care Market is estimated to grow at a CAGR of around 5.3% during the forecast period, i.e., 2024-30. The market growth is propelled mainly by the burgeoning incidence of chronic wounds worldwide, including diabetic foot ulcers, venous ulcers, pressure ulcers, etc., coupled with the growing elderly population that has slow healing abilities and the increasing number of patients with obesity. There has been a rise in several surgical procedures, including vascular reconstruction, cataract surgery, etc., across the globe. With the rise in the number of surgeries, the demand for wound care products such as sealants that are largely used during cataract surgeries has increased, instigating the overall market for wound care.

Furthermore, the cases of road traffic accidents are the leading cause of unintentional injuries. For instance, the World Health Organization (WHO) mentioned in 2023 that every year road traffic crashes cause between 20 to 50 million non-fatal injuries. Hence, in line with this, the demand for wound care products has intensified, thereby, contributing to enhancing the Wound Care Market size.

Additionally, various education & training programs, conferences, and the dissemination of evidence-based practices are raising awareness about the importance of proper wound care management, i.e., leading to the rapidly increasing adoption of advanced wound care products & therapies. Consequently, these aspects are set to create lucrative prospects for the Global Wound Care Industry to expand significantly over the following years.

Global Wound Care Market Driver:

Rising Prevalence of Acute & Chronic Wounds Worldwide to Elevate the Market Growth – A significant rise in the incidence of diabetic foot ulcers, venous leg ulcers, surgical & traumatic wounds, burns, as well as surgical sites has positively driven the Global Wound Care Market. Further, there are a large number of patients with diabetes globally. For instance, as per the International Diabetes Federation (IDF), worldwide, approximately 537 million adults aged between 20-79 years were living with diabetes in 2021. Additionally, the total number of patients with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045.

Also, diabetes foot ulcers are a type of chronic wound that largely affects individuals with diabetes, for instance, around 15% of diabetes patients suffer from diabetes foot ulcers. Hence, considering the large patient population with diabetes, the risk for diabetes foot ulcers has increased and has eventually pushed the demand for wound care products for their effective management.

Global Wound Care Market Opportunity:

Revolutionizing Wound Care with the Application of Artificial Intelligence (AI) – The emerging potential of artificial intelligence (AI) to revolutionize wound care comes as a significant opportunity for the Wound Care Market creating profitable avenues for future years. The limitations of traditional wound care solutions have necessitated the adoption of AI in wound care. By providing clinicians with advanced tools to assist in wound assessment, treatment planning, and monitoring,

AI has the potential to transform wound care. It provides early recognition of patients who would both fail standard-of-care therapy before starting treatment and would benefit from early therapeutic interventions tailored to their specific healing prognosis, ultimately resulting in improved and more cost-effective outcomes. With more advancements and shifting focus to provide patients with personalized treatment, the adoption of AI in wound care would increase, thereby boosting the overall wound care market during 2024-30.

Global Wound Care Market Challenge:

High Costs of Advanced Wound Care Products to Limit the Industry Expansion – Compared to traditional wound care options, advanced wound care products, such as bioactive dressings, NPWT (negative pressure wound therapy) systems, and growth factors, are expensive for patients, especially in cost-sensitive regions. The high cost of these products has limited their adoption, restricting the overall market growth of wound care.

The high cost of the products becomes more prominent, particularly in areas with limited healthcare budgets or where reimbursement policies do not adequately cover the expenses. In addition, the costs of these treatments rise further as the wound becomes chronic. Therefore, these aspects would act as the most prominent growth restraints for the Global Wound Care Market during 2024-30.

Global Wound Care Market Trend:

Emergence of Smart Wound Dressings to be Trending at Present Times – Smart dressings have emerged as a promising technology to address the rising cases of acute & chronic wounds worldwide. Their exceptional material properties can address complicated wound structures, fit well to the surface, manage larger amounts of wound discharge, and topically deliver biopharmaceutical agents to speed up the healing process. Moreover, nanosensors embedded into these dressings start glowing to alert patients when a wound is not healing properly.

Also, high levels of protease activity, bacterial load, & oxygenation levels are key indicators of a wound that can steer effective treatment strategies. Furthermore, integrating an all-encompassing diagnostic platform into a smart dressing that can interact, sense, and adapt to the wound condition would be the ultimate cure-all in this domain, which would generate lucrative possibilities for the growth of the Global Wound Care Market in the forecast years.

Global Wound Care Market (2024-30): Segmentation Analysis

The Global Wound Care Market study by MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2024–2030 at the global level. In accordance to the analysis, the market has been further classified as:

Based on the Product:

• Advanced Wound Dressings
  • Foam Dressings
  • Hydrocolloid Dressings
  • Film Dressings
  • Alginate Dressings
  • Hydrogel Dressings
  • Collagen Dressings
  • Other Advanced Dressings
• Surgical Wound Care
  • Sutures & Staples
  • Tissue Adhesives & Sealants
  • Anti-infective Dressing
• Traditional Wound Care Products
  • Medical Tapes
  • Cotton
  • Bandages
  • Gauzes
  • Sponges
  • Cleansing Agents
• Wound Therapy Devices
  • Negative Pressure Wound Therapy
  • Oxygen & Hyperbaric Oxygen Equipment
  • Electric Stimulation Devices
  • Pressure Relief Devices
  • Others

Advanced Wound Dressings segment is expected to account for a significant share of the Global Wound Care Market. 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.

Moreover, features like antimicrobial properties and bioactive components facilitate faster & more effective wound healing, which leads to improved patient outcomes. The mounting prevalence of burn injuries worldwide is also driving the demand for advanced wound care products, such as foams, impregnated gauzes, honey, & silver dressings, which do not require frequent dressing changes and can be left in place until the wound heals. Hence, these aspects cite the widening popularity of such products worldwide, i.e., spurring growth in the Global Wound Care Market.

Based on Application

• Chronic Wounds
• Acute Wounds

Chronic Wounds held for the largest share of the Wound Care Market during the past period and is presumed to flourish in the forthcoming years as well. This owes to the rising prevalence of diabetic foot ulcers & venous pressure ulcers, the increasing geriatric population, and the increasing number of individuals suffering from varicose vein ailment. Chronic wounds are persistent, non-healing wounds that often result from underlying health conditions like diabetes, venous insufficiency, or pressure ulcers. These wounds require long-term management & care due to their slow healing process & potential for complications.

Diabetic foot ulcers, venous leg ulcers, and pressure ulcers also pose a substantial healthcare burden globally, owing to which there is a growing focus on advanced wound care products, especially dressings, as well as therapies designed specifically for chronic wound management to address challenges like infection control, moisture management, & tissue regeneration.

Global Wound Care Market (2024-30): Regional Projection

Geographically, Global Wound Care Market expands across:

• North America
• South America
• Europe
• The Middle East & Rest of Africa
• Asia-Pacific

North America presently dominates the Global Wound Care Market in terms of market share, and this dominance is projected to persist in the future as well. The growth has been attributed to the increased incidence of chronic illnesses like diabetic ulcers, venous disease, and arterial injuries across the region, leading to the surging demand for innovative wound care products. Also, the increased participation in sports and other activities has led to a rise in the incidence of sports-related injuries in North America. For instance, as per the National Safety Council, in 2022 in the US, about 3.6 million people were treated in emergency departments for injuries involving sports and recreational equipment with exercise, cycling, and basketball causing the most number of injuries.

Moreover, favorable reimbursement policies, ever-increased consumer demand for reduced hospital stays, and the increasing incidence of road accidents, burns, and trauma events in the US & Canada, i.e., instigating manufacturers to bring innovations in wound healing biologics & expand their production capacities, are also creating lucrative prospects for the North American Wound Care market.

Global Wound Care Industry Recent Development:

• 2023: Pramand LLC announced the US commercial launch of the CraniSeal™ Dural Sealant System as an adjunct to sutured dural repair during cranial surgery to provide watertight closure.
• 2023: Convatec announced the US launch of ConvaFoam™, a family of advanced foam dressings that can be used on a spectrum of wound types at any stage of the wound journey, making it the simple dressing choice for wound management and skin protection.

Gain a Competitive Edge with Our Global Wound Care Market Report

• The Global Wound Care Market Report by Markntel Advisors provides a detailed & thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
• This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
• The Global Wound Care Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.