Wound Care Market Size, Share & Trends Report

Wound Care Market Size, Share & Trends Analysis Report By Application (Chronic, Acute Wounds), By Product (Advanced, Surgical), By End Use (Hospitals, Home Healthcare), By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Jan, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-3-68038-300-3
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 140

Report Overview

The global wound care market size was valued at USD 19.83 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.1% from 2021 to 2028. The demand for wound care products is increasing owing to the growing geriatric population; the high prevalence of chronic diseases, such as diabetes, cancer, and other autoimmune diseases; and the rising number of Ambulatory Surgical Centers (ASCs) across the globe. Unhealthy & sedentary lifestyles, high alcohol consumption, and smoking are some of the major factors contributing to the rise in the prevalence of non-communicable diseases. According to the National Diabetes Statistic Report 2017 published by the Centers for Disease Control and Prevention (CDC), more than 100.0 million people in the U.S. were suffering from diabetes or prediabetes conditions.

The U.S. wound care market size, by product, 2016 - 2028 (USD Billion)

Cancer has also been a global healthcare burden as it is one of the leading causes of death. According to the WHO estimates, almost 1 in 6 deaths is caused by the disease. In addition, it also reported that over 70% of cancer-related deaths typically occur in low-income countries. As a result of the rising prevalence of chronic conditions, the number of surgeries being performed has also increased.

Wound care products are, thus, increasingly being used to prevent surgical site infections. Most surgical wounds post-cancer surgery are relatively large in size and deep, producing exudate that requires regular management. The wound care products, such as Negative  Pressure Wound Therapy (NPWT) devices, sutures, and staples, help manage large wounds, significantly reducing the risk of infection.

Increasing incidence of accidents, such as road accidents, burns, and trauma events, is anticipated to drive the market growth. For instance, as per the WHO estimates (2018), in India, around 1,000,000 people are severely or moderately burnt per year. In addition, as per the NCBI report, in 2017, countries, such as Bulgaria, Finland, the Netherlands, China, Australia, and the U.K., reported a rise in the incidence of burn wounds.

Collagenase-based enzymatic wound debridement products are majorly used for the treatment of acute wounds. Papain-based products are generally not used for burn wounds, but in some cases, these are used for superficial and minor burns. Thus, a rising number of accidents is expected to boost the demand for enzymatic wound debridement products, which, in turn, will boost market growth over the forecast period.

Product Insights

The advanced product segment accounted for the largest revenue share of over 34% in 2020 and will grow at the fastest CAGR during the forecast years. The advanced wound dressing is majorly used for the treatment of chronic and non-healing wounds. Some of these products contain anti-microbial agents, such as honey and silver, for rapid wound healing and preventing further infections. The limitations of traditional wound dressings have propelled the growth of the advanced wound care market.

Moreover, increasing cases of diabetes are expected to boost the segment growth over the forecast period. For instance, as per the Centers for Disease Control and Prevention (CDC), around 9.40% of the U.S. population of all ages suffered from diabetes in 2015. The advanced product segment is further categorized into foam dressings, hydrocolloid dressings, film dressings, alginate dressings, hydrogel dressings, collagen dressings, and others.

The surgical product segment is estimated to register the second-fastest CAGR from 2021 to 2028 due to the rising number of surgeries. This segment is further segmented into sutures & staples, tissue adhesives & sealants, and anti-infective dressing. The sutures & staples sub-segment held the largest market share in the past.

Application Insights

The acute wound segment accounted for the largest revenue share of 60.01% in 2020 and will expand further at a steady CAGR from 2021 to 2028. The acute wounds comprise surgical & traumatic wounds and burns. Surgical & traumatic wounds was the leading sub-segment, in terms of growth rate and revenue share, owing to increased trauma cases across the globe.

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

End-use Insights

The hospitals' end-use segment accounted for the largest revenue share of more than 45% in 2020. Surgical wound care dressings and NPWT are predominantly suitable for hospital use and are not feasible for homecare. NPWT requires a prolonged hospital stay and requires constant monitoring. The increasing cases of diabetic foot ulcers and venous leg ulcers are the major driving factors for the segment growth since NPWT is majorly used for such conditions.

Global wound care market share, by application, 2020 (%)

The home healthcare segment is expected to witness the fastest growth rate over the forecast period. Wound care in home-care settings was majorly initiated with the introduction of single-use NPWT systems. These devices are lightweight, portable, canister-free, and are easy to use. In addition, the cost-effectiveness of such therapy encourages patients to adopt homecare settings over hospital stays, thereby supporting segment growth.

Regional Insights

North America was the largest regional market in 2020 and will expand further at a significant CAGR from 2021 to 2028 due to increasing cases of sports injuries, road accidents, and the presence of several key companies in the region. In addition, the availability of skilled professionals and improvement in healthcare infrastructure are expected to drive the market over the forecast period.

The Asia Pacific is anticipated to be the fastest-growing regional market from 2021 to 2028 due to the rapidly growing medical tourism industry in emerging countries, such as China, India, and Japan. For instance, as per the report on Export Health Services by the Directorate-General of Commercial Intelligence and Statistics of India, in 2015-2016, India had 58,300 medical tourists on medical visas.

Key Companies & Market Share Insights

Key players are adopting strategies, such as mergers & acquisitions and partnerships, to strengthen their market position. For instance, in April 2019, Smith & Nephew PLC acquired Osiris Therapeutics, Inc., to accelerate the development of its advanced wound management product portfolio. The initiative was anticipated to expand its customer base. Some prominent players in the global wound care market include:

  • Smith & Nephew PLC

  • Mölnlycke Health Care AB

  • Acelity (KCI Licensing, Inc.)

  • ConvaTec Group PLC

  • Ethicon Inc. (Johnson & Johnson)

  • Baxter International, Inc.

  • Coloplast Corp.

  • Medtronic PLC

  • The 3M Company

  • Derma Sciences, Inc. (Integra LifeSciences)

  • Medline Industries, Inc.

  • Advancis Medical USA LLC

  • B. Braun Melsungen AG

Wound Care Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 20.59 billion

Revenue forecast in 2028

USD 27.21 billion

Growth Rate

CAGR of 4.1% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, end use, application, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; The Netherlands; Spain; Sweden; Japan; China; India; South Korea; Taiwan; Australia; Vietnam; Thailand; Malaysia; Singapore; Indonesia; Philippines; Brazil; Mexico; Argentina; South Africa; Turkey; Egypt; Iran; Israel; Saudi Arabia; UAE

Key companies profiled

Smith & Nephew PLC; Mölnlycke Health Care AB; Acelity (KCI Licensing, Inc.); ConvaTec Group PLC; Ethicon Inc. (Johnson & Johnson); Baxter International, Inc.; Coloplast Corp.; Medtronic PLC; The 3M Company; Derma Sciences, Inc. (Integra LifeSciences); Medline Industries, Inc.; Advancis Medical USA LLC; B. Braun Melsungen AG

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global wound care market report on the basis of product, end use, application, and region:

  • Product Outlook (Revenue, USD Million, 2016 - 2028)

    • Advanced Wound Dressing

      • 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

      • Medical Tapes

      • Cleansing Agents

    • Wound Therapy Devices

      • NPWT

      • Oxygen & Hyperbaric Oxygen Equipment

      • Electric Stimulation Devices

      • Pressure Relief Devices

      • Other Wound Therapy Devices

  • End-use Outlook (Revenue, USD Million, 2016 - 2028)

    • Hospitals

    • Specialty Clinics

    • Home Healthcare

    • Others

  • Application Outlook (Revenue, USD Million, 2016 - 2028)

    • Chronic Wounds

      • Diabetic Foot Ulcers

      • Pressure Ulcers

      • Venous Leg Ulcers

      • Other Chronic Wounds

    • Acute Wounds

      • Surgical & Traumatic Wounds

      • Burn Wounds

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • The Netherlands

      • Spain

      • Sweden

    • Asia Pacific

      • Japan

      • China

      • India

      • South Korea

      • Taiwan

      • Australia

      • Vietnam

      • Thailand

      • Malaysia

      • Singapore

      • Indonesia

      • Philippines

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • MEA

      • South Africa

      • Turkey

      • Egypt

      • Iran

      • Israel

      • Saudi Arabia

      • UAE

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