U.S. Advanced Wound Care Market Size, Share, & Trends Analysis Report By Product (Foam, Film, Hydrocolloid, Alginate), By Type (Chronic, Acute), By Region, Competitive Insights, And Segment Forecasts, 2019 - 2026

Report Overview

The U.S. advanced wound care market size was valued at USD 2.46 billion in 2018 and is expected to grow at a CAGR of 4.2% over the forecast period. The need for advanced wound care products is increasing owing to the growing incidence of chronic wounds, increasing demand for reducing hospital stay, and the rising number of surgeries in the U.S.

Rising incidence of chronic diseases such as diabetes, cancer, and other autoimmune disorders is anticipated to increase the incidence rate of chronic wounds in the U.S. Factors such as antimicrobial resistance, unhealthy & sedentary lifestyles, and tobacco & alcohol consumption is contributing to rising prevalence of non-communicable diseases. According to the National Diabetes Statistics Report 2017, published by the CDC, more than 100.0 million people in the U.S. were living with diabetes or prediabetes conditions.

Cancer is also considered to be a healthcare burden, as it is one of the leading causes of death in the country. According to estimates from Cancer Organization, in 2018, cancer was the second leading cause of death and about 1,735,350 new cancer cases were registered in the U.S. In addition, nearly 4,700 new cases of cancer are diagnosed each day in the country.

The rising number of surgeries is also one of the major factors driving the market growth. The number of surgeries is increasing owing to the rising prevalence of chronic conditions. Wound care products, thus, are increasingly being used to prevent surgical site infections. Most surgical wounds, post-cancer surgery, are relatively larger in size and deep, releasing exudates that require regular management. Advanced products such as a hydrogel, alginate, and foam help manage large wounds, thereby significantly reducing the risk of infection. Thus, the rising incidence of chronic diseases is expected to boost demand for wound care products, thus aiding growth.

The rising number of surgical procedures is also expected to boost demand for home healthcare services. According to the American Society for Metabolic and Bariatric Surgery in 2018, the number of people underwent sleeve gastrectomy increased by 8.05% from 2016 to 2017 in the U.S. Patients undergoing surgeries are required to stay at hospitals for a longer period of time; thus, most patients prefer home healthcare services over hospital stays. These services offer several advantages such as personal care and home-delivered meals, among others. Therefore, these factors are likely to boost demand for home healthcare services, thereby fueling market growth during the forecast period.

Product Insights

Foam dressings segment of the U.S. advanced wound care market held the largest share in 2018. Foam dressings are made of hydrophilic polyurethane, which is a highly absorbent material. The foam helps in absorbing the moisture that aids in maintaining the integrity of the tissue. Increasing cases of burns and trauma across the globe are expected to propel segment growth. For instance, as per the American Burn Association in 2016, around 486,000 people were given medical treatment due to burning injuries in the U.S. It also reported that complications of infection have accounted to be highest in burn patients. Foam is majorly used to prevent and heal exudation of burn injuries and hence increasing cases of such incidents is expected to boost segment growth over the forecast period.

Hydrocolloid dressings are anticipated to witness the fastest growth over the forecast period. These are made of gel-forming agents such as carboxymethylcellulose and gelatin. These materials are occlusive and help in moisture retention. These dressings allow rapid healing and are impermeable to any type of bacterial infection. Thus, it helps protect wounds internally as well as externally. Rising incidence of diabetes in the U.S. is expected to promote segment growth over the forecast period. For instance, as per the CDC in 2015, around 5.0% of the people in the U.S. were diagnosed with type 1 diabetes and approximately around 15.0% of this diabetic population suffers from diabetic wounds or diabetic ulcers. Hence, such instances are expected to boost the demand for hydrocolloid wound care over the forecast period.

End-use Insights

On the basis of end-use, this market has been segmented into hospitals, specialty clinics, home healthcare, and others. The hospital segment held the largest share in 2018. The increasing cases of diabetic foot ulcers and venous leg ulcers are major factors driving the segment growth. In addition, increasing cases of surgical wounds due to the rising number of surgeries is also boosting segment growth. Advanced wound care dressings are generally used for healing surgical site infections. Thus, such factors may surge segment growth over the forecast period.

The home healthcare segment is expected to witness the fastest growth over the forecast period. Most of the surgeries require a prolonged recovery period, leading to frequent changing of dressings. Thus, the demand for advanced wound care products in-home healthcare settings is increasing. Moreover, the geriatric & bariatric population and patients suffering from chronic wounds prefer homecare over hospital stays.

Application Insights

On the basis of application, the market is segmented into chronic and acute wounds. The acute wounds segment held the largest share in 2018. This segment consists of surgical & traumatic wounds and burns. The surgical & traumatic wounds segment held the largest share in 2018 owing to increasing cases of trauma in the U.S. The burns segment is anticipated to witness the fastest growth rate over the forecast period owing to the rising incidence of burn injuries.

The chronic wounds segment is anticipated to witness the fastest growth over the forecast period. Increasing cases of chronic diseases, especially diabetes, and rising geriatric population in the country are major factors driving the segment growth. For instance, as per the United States Census Bureau, the number of people aged 65 or older grew by 1.6 million, from 2014 to 2015. This segment is further divided into diabetic foot ulcers, pressure ulcers, venous leg ulcers, and others.

U.S. Advanced Wound Care Market Share Insights

Some prominent players operating in the market are Smith & Nephew; Mölnlycke Health Care AB; Acelity (KCI Licensing, Inc.); Convatec Group PLC; and Baxter. Key players are involved in adopting strategies such as mergers & acquisitions, agreements, and partnerships to strengthen their position in the market.

For instance, in April 2019, Smith & Nephew acquired Osiris Therapeutics, Inc. with an intention of expediting the development of its advanced wound management product portfolio. The initiative was anticipated to expand its customer pool. Furthermore, in May 2019, 3M entered into a definitive agreement to acquire advanced wound care & specialty surgical solutions segments of Acelity and its KCI Subsidiaries with an aim to expand the company’s product portfolio. The acquisition is anticipated to complete in the second half of 2019.

U.S. Advanced Wound Care Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at country level and provides an analysis on the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the U.S. advanced wound care market report on the basis of product, end-use, and application:

• Product Outlook (Revenue, USD Million, 2015 - 2026)

  • Foam

  • Hydrocolloid

  • Film

  • Alginate

  • Hydrogel

  • Collagen

  • Others

• End-use Outlook (Revenue, USD Million, 2015 - 2026)

  • Hospitals

  • Specialty Clinics

  • Home Healthcare

  • Others

• Application Outlook (Revenue, USD Million, 2015 - 2026)

  • Chronic Wounds

    • Diabetic Foot Ulcers

    • Pressure Ulcers

    • Venous Leg Ulcers

    • Others

  • Acute Wounds

    • Surgical and Traumatic Wounds

    • Burns