Wound Therapy Devices Market To Reach $4.59 Billion By 2030

Wound Therapy Devices Market Growth & Trends

The global wound therapy devices market size is expected to reach USD 4.59 billion by 2030, registering a CAGR of 4.0% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising geriatric population, introduction of technologically advanced products, and prevalence of chronic diseases are the key factors driving the growth.

Rising cases of pressure ulcers across the globe is one of the major factors driving the wound therapy devices market. The incidence rate of pressure ulcer is rising owing to the increasing geriatric population and cases of disabilities across the globe.

Rising cases of venous leg ulcers across the globe is another factor driving the advanced wound therapy devices market. Venous leg ulcer is an open lesion between the ankle joint and knees mainly caused due to the venous disease. The venous leg ulcers is the most advanced form of chronic venous disorders and its recurrence rate is more than 70.0%.

For instance, as per the article published by the Mölnlycke Health Care AB, in 2017, venous leg ulcers are the most common, recurring, and chronic condition and in U.K., it has the prevalence rate from 0.1% to 0.3%. Such high prevalence is anticipated to propel the demand for wound therapy devices in the forthcoming years.

 Request a free sample copy or view report summary: Wound Therapy Devices Market Report

Wound Therapy Devices Market Report Highlights

• In terms of revenue, acute wounds segment held the largest market share in 2023 owing to the rising cases of accidents and trauma across the globe

• Negative Pressure Wound Therapy (NPWT) led the market and accounted for the largest revenue share of 43.3% in 2023 driven by the increasing prevalence of chronic wounds, particularly among the aging population and those with comorbidities.

• Hospital held the largest share of the wound therapy devices market in 2023 due to the rising cases of accidents, burns, and trauma

• The Asia Pacific wound therapy devices market is expected to grow at a CAGR of 4.6% over the forecast period, owing to a rapidly growing population and increasing urbanization, leading to a higher incidence of injuries and chronic wounds

Wound Therapy Devices Market Segmentation

Grand View Research has segmented the global wound therapy devices market report based on product, wound type, end use, and region:

Wound Therapy Devices Wound Type Outlook (Revenue, USD Million, 2018 - 2030)

• Acute Wounds

• Chronic Wounds

Wound Therapy Devices Product Outlook (Revenue, USD Million, 2018 - 2030)

• Negative Pressure Wound Therapy

• Oxygen & Hyperbaric Oxygen Equipment

• Electric Stimulation Devices

• Pressure Relief Devices

• Others

Wound Therapy Devices End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Specialty Clinics

• Home Healthcare

• Others

Wound Therapy Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in Wound Therapy Devices Market

• Smith & Nephew

• 3M

• Sky Medical Technology Ltd.

• Cardinal Health

• Talley Group Ltd

• ConvaTec Inc.

• DeRoyal Industries, Inc.

• Devon Medical Products

• BSN medical

• Medela AG

• Paul Hartmann AG