The global advanced wound care market size is anticipated to reach USD 14.8 billion by 2030, registering a CAGR of 4.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growth in the number of the aging population as well as an increasing figure of diabetic patients are some major factors driving this market’s growth.
For instance, as per a United Health Foundation report (published in May 2023), more than 55.8 million adults aged 65 and older lived in the U.S., accounting for about 16.8% of the nation's population in 2021, increasing the number of senior populations is anticipated to propel the market during the forecast period.
There has been growth in the number of surgical procedures, and traumatic incidents globally. For instance, as per a study by Research Gate, in 2022, around 6.6% of mortality occurs due to trauma every year. Similarly, there has been an increase in the number of surgical site infections. Advanced wound care products help to contain and reduce these surgical site infections, thereby, an increase in the number of surgical site infections is expected to drive the market during the forecast period.
The introduction of the COVID-19 vaccine, and the lifting of lockdown impositions, are expected to have a positive impact on the market over the forecast period. Many elective surgeries, which were postponed, are expected to take place. In addition to this, many leading manufacturers are introducing new products which may help them to capitalize on the increasing demand for advanced wound care products during the forecast period.
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Based on product, the moist wound care segment dominated the market in 2023, owing to an increase in the number of chronic wound patients
Based on application, the chronic wound segment is likely to dominate the market in the forecast period, owing to an increase in the number of diabetic foot ulcers, globally
Based on the end-use, the hospital segment dominated the market, owing to an increasing number of surgeries among the patients in hospitals. On the other hand, the home healthcare segment is anticipated to witness the fastest growth of CAGR 5.4% during the forecast period
North America dominated the market with the highest revenue share in 2023, owing to the increasing number of surgical procedures and technological advancements
Grand View Research has segmented the global advanced wound care market report based on the product, application, end-use, and region:
Advanced Wound Care Product Outlook (Revenue, USD Million, 2018 - 2030)
Other Advanced Dressings
Advanced Wound Care Application Outlook (Revenue, USD Million, 2018 - 2030)
Diabetic Foot Ulcers
Venous Leg Ulcers
Other Chronic Wounds
Surgical & Traumatic Wounds
Advanced Wound Care End-use Outlook (Revenue, USD Million, 2018 - 2030)
Advanced Wound Care Regional Outlook (Revenue, USD Million, 2018 - 2030)
Middle East & Africa
List of key players in the Advanced Wound Care Market
Smith & Nephew
Mölnlycke Health Care AB
ConvaTec Group PLC
Derma Sciences Inc. (Integra Life Sciences)
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