Wound Care Market Size, Share & Trends Analysis Report By Product, By End Use (Hospitals, Specialty Clinics, Home Healthcare), By Application (Acute, Chronic), And Segment Forecasts, 2019 - 2026

Industry Insights

The global wound care market size was valued at USD 18.4 billion in 2018 and is expected to exhibit a CAGR of 3.9% over the forecast period. The market is driven by increase in prevalence of chronic diseases such as cancer, diabetes, and autoimmune diseases, surge in number of ambulatory surgical centers (ASCs), and rising geriatric population.

Factors such as antimicrobial resistance, adoption of unhealthy and sedentary lifestyles, alcohol consumption, and smoking are some of the major factors contributing to the rise in 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 U.S. were living with diabetes or prediabetes conditions. In addition, WHO reported that in 2016, approximately 1.6 million deaths were directly caused by diabetes.

Cancer has been a global healthcare burden. According to estimates from WHO, cancer is the leading cause of death globally and almost 1 in 6 deaths can be attributed to the disease. It is also reported that over 70% of cancer-related deaths typically occur in middle- and 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 wounds post cancer surgery are relatively large in size and are deep, producing exudate, which requires regular management. Products such as negative wound pressure therapy (NPWT) devices, sutures, and staples help manage large wounds, significantly reducing the risk of infection. Thus, rising incidence of chronic diseases is anticipated to increase the demand for wound care products.

Product Insights

Based on product, advanced wound dressing held the dominant share in 2018 and is also expected to witness the fastest growth over the forecast period. Advanced wound dressing is majorly used for chronic and non-healing wounds. Some of these products are equipped with anti-microbial agents such as honey and silver for rapid healing and preventing further infections. The limitations of traditional dressings have propelled this segment. Moreover, increasing cases of diabetes is expected to spur 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 wound dressings segment is subdivided into foam dressings, hydrocolloid dressings, film dressings, alginate dressings, hydrogel dressings, collagen dressings, and others.

Increasing cases of surgical site infections and rising number of surgeries are expected to drive the surgical segment. This segment is comprises sutures and staples, tissue adhesives and sealants, and anti-infective dressing. The sutures and staples segment held the largest market share in 2018 owing to increasing number of surgeries globally.

Application Insights

The chronic segment is anticipated to witness the fastest growth in the wound care market over the forecast period. The segment is further divided into diabetic foot ulcers, pressure ulcers, venous leg ulcers, and others. Increasing cases of chronic diseases, especially diabetes, and rising geriatric population across the globe are major factors driving the segment. 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.

The acute segment held the largest share in the market in 2018. Acute wounds comprise surgical and traumatic wounds and burns. The surgical and traumatic sub-segment accounted for the dominant share in 2018 owing to increasing cases of trauma across the globe. The burns sub-segment is anticipated to witness rapid growth through 2026 owing to rising incidence of burn injuries.

End-use Insights

On the basis of end use, the market is segmented into hospitals, specialty clinics, home healthcare, and others. The hospital segment held the largest share in 2018. Surgical wound care dressings and NPWT are predominantly suitable for hospital use and are not feasible for homecare. NPWT requires prolonged hospital stay and constant monitoring. Increasing cases of diabetic foot ulcers and venous leg ulcers are the major factors driving the segment, since NPWT is majorly used for such conditions.

The home healthcare segment is expected to witness the fastest growth over the forecast period.Wound care in homecare 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, cost-effectiveness of such therapy of treating wounds encourages patients to adopt homecare settings over hospital stays.

Regional Insights

North America dominated the market in 2018 and is expected to show considerable growth over the forecast period. Increasing sports injuries, road accidents, and presence of several key players in the region is anticipated to drive the market in North America. In addition, availability of skilled professionals and improvement in healthcare infrastructure are expected to drive the market over the forecast period.

Asia Pacific is anticipated to witness the fastest growth over the forecast period. Presence of developing countries such as China, India, and Japan is anticipated to boost market growth. In addition, rapidly growing medical tourism in these countries is expected to contribute to demand for wound care products in the region. For instance, as per a 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.

Wound Care Market Share Insights

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

For instance, in April 2019, Smith & Nephew PLC acquired Osiris Therapeutics, Inc. with an aim to accelerate the development of its advanced wound management product portfolio. The initiative was anticipated to expand its customer base.

Report Scope

Segments Covered in the Report

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

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

  • Advanced Dressings

    • Foam Dressings

    • Hydrocolloid Dressings

    • Film Dressings

    • Alginate Dressings

    • Hydrogel Dressings

    • Collagen Dressings

    •  Others

  • Surgical Dressings

    • Sutures & Staples

    • Tissue Adhesives and Sealants

    • Anti-infective Dressings

  • Traditional Wound Care

    • Medical Tapes

    • Cleansing Agents

  • Wound Therapy Devices

    • Negative Pressure Wound Therapy

    • Oxygen and Hyperbaric Oxygen Equipment

    • Electric Stimulation Devices

    • Pressure Relief Devices

    • Others

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

  • Chronic

    • Diabetic Foot Ulcers

    • Pressure Ulcers

    • Venous Leg Ulcers

    •  Others

  • Acute

    • Surgical & Traumatic Wounds

    • Burns

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

  • Hospitals

  • Specialty Clinics

  • Home Healthcare

  • Others

• Regional Outlook (Revenue, USD Billion, 2015 - 2026)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • Italy

    • France

    • Netherlands

    • Spain

    • Sweden

  • Asia Pacific

    • China

    • Japan

    • India

    • Thailand

    • South Korea

    • Australia

    • Singapore

    • Vietnam

    • Malaysia

    • Indonesia

    • Philippines

    • Taiwan

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • MEA

    • South Africa

    • Saudi Arabia

    • Egypt

    • Turkey

    • Iran

    • Israel

    • UAE