Wound Care Market Size, Share & Trends Analysis Report By Product (Advanced, Surgical), By Application (Acute, Chronic), By End-use, By Mode of Purchase, By Distribution Channel, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global wound care market size was valued at USD 21.4 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 4.15% from 2023 to 2030. The demand for wound care products is increasing owing to the increasing number of surgical cases, and the rising prevalence of chronic diseases across the globe. Furthermore, the increasing incidence of diabetes due to the widespread adoption of a sedentary lifestyle is one of the leading factors contributing to market growth.

According to American Diabetes Association, in 2018, an estimated 34.2 million people, i.e., 10.5% of the total U.S. population had diabetes. Moreover, nearly 1.6 million U.S. residents had type 1 diabetes, which includes about 187,000 adolescents and children.

Wound care products help treat diabetic foot ulcers, which are prevalent in diabetic patients. For instance, according to ScienceDirect, diabetic foot ulcers may affect more than 25% of the diabetic population and may lead to the amputation of a foot in 20% of patients.

Wound care products such as hydrocolloid dressings help in moisture retention and allow rapid healing of wounds internally as well as externally. Moreover, these products help absorb necrotic tissues, which are effective in the treatment of surgical site infections. Thus, the strong preference of healthcare professionals toward wound care products in the treatment of infections is anticipated to propel the wound care industry growth over the forecast period.

The advanced wound dressings segment held the largest revenue share in 2022. One of the key factors responsible for its dominance is an increase the in the number of burn injuries. For instance, here are some general statistics on burn injuries based on data from the World Health Organization (WHO) and the American Burn Association:

• An estimated 180,000 deaths occur each year worldwide due to burning injuries.

• In the U.S., approximately 486,000 burn injuries occur each year that require medical treatment, with about 40,000 of those requiring hospitalization.

• In the U.S., fire/flame burns are the most common type of burn injury (43%), followed by scalds (34%), contact burns (9%), electrical burns (4%), chemical burns (3%), and other types of burns (7%).

• The elderly, young children and low-income populations are at a higher risk for burn injuries.

• The majority of burn injuries (69%) occur in the home, while 8% occur in the workplace and, 5% occur in traffic accidents.

• In terms of mortality, burn injuries are the 8th leading cause of unintentional injury deaths in the U.S.

• The estimated cost of burn injuries in the U.S. is approximately USD 7.5 Billion annually, including medical care and lost productivity.

The increasing prevalence of burn injury cases globally is a major driver of the wound care industry. It is leading to the development of new and advanced products for the treatment of burns, including dressings, grafts, and biologics.

Moreover, an increasing number of Ambulatory Surgical Centers (ASCs) is expected to drive the market. ASCs offer a variety of services such as surgical care, diagnostics, and preventive procedures. Surgeries for pain management, urology, orthopedics, restorative, reconstructive, or alternative plastic surgeries, and Gastro-Intestinal (GI) related surgeries are performed in ambulatory surgery centers.

In addition, ASCs are increasing in number and thus offer cost-effective services. For instance, according to Advancing Surgical Care, as of March 2021, the number of ASCs in the U.S. is estimated to be 6,023. Thus, with an increasing number of ASCs the market growth is expected to propel during the forecast period.

Furthermore, an increasing number of traumatic injuries across the globe is expected to propel the wound care industry. For instance, as per WHO, each year, an estimated 22,941 individuals die in Thailand as a result of traffic-related incidents, accounting for roughly 33% of all deaths in the country. Collagenase-based enzymatic wound debridement products are majorly used for the treatment of such acute wounds. Thus, such cases are expected to increase the demand for wound care products.

COVID-19 considerably decreased the need for wound care products around the globe. However, with the development of vaccines, countries have opened their international borders. As a result, the wound care industry is expected to witness growth during the post-COVID-19 period. The earlier postponed elective surgeries are expected to be completed post-pandemic time, thereby increasing the use of wound care products.

Many companies are incorporating various strategies such as product launches, mergers & acquisitions, collaboration, and expansion to meet the demand.  For instance, in October 2021, Medline Industries launched Post-Acute Infection Prevention Program. This will be a consultative program and aims to help the company increase its product penetration in the general population. Similarly, in 2021, Mölnlycke announced the launch of a new U.K. distribution center. This helped the company strengthen customer access to quality Mölnlycke products.

Product Insights

Based on product, the wound care market has been segmented into advanced wound dressings, surgical wound care, traditional wound care, and wound therapy devices. The advanced wound dressing segment held the maximum share of 34.6% in 2022 in the product segment. It is expected to register the highest CAGR during the forecast period. Advanced wound dressing is mainly used to treat chronic and non-healing wounds.

Thus, increasing the number of chronic wounds, such as diabetic foot ulcers, is expected to help the wound care industry propel growth. For instance, according to the InDependent Diabetes Trust, at any given time, 115,000 people in the U.K. may develop a diabetic foot ulcer, whereas, 27,000 people are treated with venous leg ulcers every year. These wounds take, on average, 200, days to heal. Therefore, due to the aforementioned factors, the market is expected to impel during the forecast period.

The surgical wound care segment is anticipated to grow at a considerable growth rate of 4.25% during the forecast period. This can be attributed to rising surgical cases and surgical site infections worldwide. For instance, as per the National Healthcare Safety Network (NHSN) Surgical Site Infection Surveillance in 2018, around 157,500 cases of SSIs are reported every year in the U.S. Thus, impelling the segment growth.

Application Insights

The chronic wounds segment held the largest share of 59.9% in 2022. It is anticipated to witness a considerable growth rate over the forecast period. The increasing geriatric population, along with the rising prevalence of diabetic foot ulcers, venous pressure ulcers, and other chronic wounds is expected to drive the segment growth. For instance, according to the Administration for Community Living’s profile on older Americans, the U.S. population aged 65 and above was expected to be 54.1 Million in 2019, which is about 19% of the U.S. population. This population increased by about 36% from 2009-2019. It is projected to reach 80.8 million by 2040, and 94.7 Million by 2060.

Furthermore, the number of people suffering from varicose vein ailment in the U.S. is increasing year-on-year.  According to the Journal of the American Heart Association, approximately 23% i.e., 1 in every 4 U.S. residents suffer from varicose vein ailment. An increase in the number of varicose veins patients may lead to the development of venous leg ulcers, thus, driving the market growth.

The acute wound segment is expected to grow at the fastest CAGR of 4.24% during the forecast period. The increasing cases of different traumatic wounds, and burns are the major factor driving the segment growth. The multiple benefits of acute wound products include reduced surgical site infections, improved results and patient satisfaction, and reduced hospital stays. There is also an increase in the number of burn wounds across the globe. Since acute wound products are majorly used for treating acute wounds such as traumatic wounds, the use of wound care products is expected to help surge the segment growth.

End-use Insights

The hospital segment held the largest share of 45.2% in 2022. The growth of this segment can be attributed to an upsurge in surgical procedures globally because of a sedentary lifestyle, and rising bariatric surgeries which require the use of wound care products to contain surgical site infections.

Furthermore, surgical wound care dressings and NPWT are predominantly suitable for hospital use and are not feasible for home care. In addition, hospital institutions are considered large buyers of wound care having long-term contracts with suppliers. Hence, owing to the aforementioned factors, the segment is anticipated to propel during the forecast period.

In addition, the increase in hospital admissions due to surgeries is also anticipated to propel the segment growth over the forecast period. After a chronic illness-related surgery, patients generally require wound care products to heal from surgical site wounds. Therefore, the segment is expected to witness significant growth over the forecast period.

The home care segment is expected to grow at the fastest CAGR of 4.78% during the forecast period. During the pandemic outbreak, home healthcare wound care products were more in demand. Wound care in homecare settings is majorly initiated with the introduction of single-use NPWT systems. These devices are lightweight, portable, canister-free, and easy to use. In addition, the cost-effectiveness of such therapy for treating wounds also encourages patients to adopt homecare settings over hospital stays.

Moreover, an increase in the geriatric population is expected to propel the market. The geriatric population often opts for homecare settings or nursing home care. Furthermore, the presence of several organizations offering home care services in North America and Europe is promoting the home care services market. Thus, with an increase in the geriatric population and nursing home care, the segment is anticipated to impel during the forecast period.

Distribution Channel Insights

Institutional sales dominated the distribution channel segment. Wound care product manufacturers may also sell products directly to healthcare providers, such as hospitals and clinics, or patients through direct-to-consumer marketing. This approach can provide more control over the distribution process and enable manufacturers to build relationships with their customers.

Institutional sales comprise majorly direct distributors and manufacturers. Hospitals, clinics, wound care centers, and other healthcare facilities, such as nursing homes, long-term care facilities, diagnostic laboratories, and birth centers, usually, have long-term contracts and tie-ups with distributors and manufacturers. Key players are adopting long-term contracts with end users as a strategy to expand their reach and strengthen their foothold in the market.

Retail sales are expected to witness the fastest growth rate in the forecast period, with a CAGR of 4.53%. Retail sales mainly comprise retail pharmacy stores, e-commerce, etc. Customers benefit from pharmacies as they are large in numbers. They offer various delivery options and usually provide good service. Customers typically purchase prescription and non-prescription wound care products at retail pharmacy stores and specialty pharmacies.

These pharmacies may stock wound care products such as dressings, ointments, and bandages, and may also provide wound care advice and services. The e-commerce segment is anticipated to expand at the fastest CAGR over the forecast period. Online stores and mail-order companies are quite similar, and their main advantages are cheap prices and ease of access. Rising online and e-commerce accessibility of wound care products will likely aid in market expansion. eHealth is a fast-growing part of e-commerce.

Mode of Purchase Insights

The prescribed segment is anticipated to dominate the market and is projected to grow at the fastest CAGR of 4.96% over the forecast period. The prescribed wound care products depend on the type of product and the severity of the wound. For mild to moderate wounds, over-the-counter wound care products such as bandages, gauze, and antiseptic creams can be purchased at pharmacies, drug stores, or online retailers. For more severe wounds, prescription wound care products such as wound dressings wound cleansers, and topical antibiotics may be required.

These products can only be obtained with a prescription from a healthcare provider and can be purchased at a pharmacy. Moreover, people are inclined toward prescribed wound care products as Medicare covers around 80% of the cost of medically necessary wound care supplies and surgical dressings. This encourages people to visit physicians and receive prescribed wound care medication.

Regional Insights

North America dominated the wound care industry with a share of 45.4% in 2022. It is expected to witness a considerable growth rate over the forecast period. The presence of a large population base and rising patient pool in countries such as the U.S. are major factors driving the regional market growth. Moreover, the geriatric population is at a higher risk of wounds, this will surge the demand for wound care products in this region.

For instance, as per the Administration for Community Living, on aging and health, the percentage of people aged 65 and above was 54.1 million in 2019, which represents 16% of the population. Additionally, the increasing number of road accidents and the availability of skilled professionals are the factors expected to drive the demand for wound care products in North America.

The Asia Pacific region is estimated to witness the highest growth rate of CAGR of 4.7% in the market over the forecast period. This can be attributed to the changing lifestyle habits leading to the increasing prevalence of chronic diseases in this region. For instance, according to the Down to Earth organization, as of December 2021, India had 74.2 million diabetic patients aged between 20 to 79.

Moreover, the number is expected to increase to 124.8 million by 2045. Furthermore, medical tourism in this region is increasing the number of surgeries performed each year. Thus, owing to the above-mentioned factors, Asia Pacific is anticipated to witness the fastest growth over the forecast period.

Key Companies & Market Share Insights

The wound care industry is highly fragmented in nature with the presence of several small and large manufacturers. Competitive rivalry and degree of competition in the market are expected to intensify over the forecast period due to the presence of many players in the market. Furthermore, leading players are involved in collaborations, product launches, mergers & acquisitions to strengthen their product portfolios.

For instance, in March 2020, Smith & Nephew launched a novel PICO 14 NPWT system that has a pump duration of up to 14 days. This product launch helped the company in expanding its product offerings. Similarly, in September 2019, the company acquired Southlake Medical Supplies for approximately USD 5 million. This helped the company strengthen its presence in the U.S. market. Thus, with various strategies acquired by leading players, the wound care market is expected to impel during the forecast period.  Some prominent players in the global wound care market include:

• Smith & Nephew

• Mölnlycke Health Care AB

• ConvaTec Group PLC

• Ethicon (Johnson & Johnson)

• Baxter International

• URGO Medical

• Coloplast Corp.

• Medtronic

• 3M

• Derma Sciences Inc. (Integra LifeSciences)

• Medline Industries

• Advancis Medical

• B. Braun Melsungen AG

Wound Care Market Report Scope

Global Wound Care Market Segmentation

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 2018 to 2030. For this study, Grand View Research has segmented the global wound care market report based on product, application, end-use, mode of purchase, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Advanced Wound Dressing

    • Foam Dressings

    • Hydrocolloid Dressings

    • Film Dressings

    • Alginate Dressings

    • Hydrogel Dressings

    • Collagen Dressings

    • Other Advanced Dressings

  • Surgical Wound Care

    • Sutures & Staples

    • Tissue Adhesive And Sealants

    • Anti-Infective Dressing

  • Traditional Wound Care

    • Medical Tapes

    • Cotton

    • Bandages

    • Gauzes

    • Sponges

    • 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 Million, 2018 - 2030)

  • Chronic Wounds

    • Diabetic Foot Ulcers

    • Pressure Ulcers

    • Venous Leg Ulcers

    • Other Chronic Wounds

  • Acute Wounds

    • Surgical & Traumatic Wounds

    • Burns

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals

  • Outpatient Facilities

  • Home Care

  • Research & Manufacturing

• Mode of Purchase Outlook (Revenue, USD Million, 2018 - 2030)

  • Prescribed

  • Non-prescribed (OTC)

• Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Institutional Sales

  • Retail Sales

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait