The global wound care market was valued at USD 17.5 billion in 2021 and it is anticipated to grow up to USD 27.7 billion by 2031, at a CAGR of 4.7% during the forecast period.
Global wound care report from Global Insight Services is the single authoritative source of intelligence on wound care market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Major Players in the Global Wound Care Market
The key players in the market are 3M Company (U.S.), Smith & Nephew PLC (UK), Cardinal Health (U.S.), Medtronic PLC (Ireland), B. Braun Melsungen AG (Germany), Baxter International, Inc. (U.S.), Convatec Group (UK), Paul Hartmann AG (Germany), Coloplast A/S (Denmark), Integra Life Sciences Holdings Corporation (U.S.), Bioventus (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Ethicon, Inc. (U.S.), Lohmann & Rauscher GmbH & Co. KG (Germany), Mölnlycke Health Care AB (U.S.) and Medline Industries, Inc. (U.S.) among others.
Global Wound Care Market Segmental Overview
Global Wound Care Market by Product
Based on product, it is segmented into wound dressings, wound therapy devices and others. The wound dressing segment is likely to account for the majority of the market share during the forecast period. The key factor attributing the growth of the market is rising number of road accidents. For instance, according to NCRB data, in 2019, traffic incidents resulted in around 1,81,113 fatalities and 4,42,996 injuries. Therefore, there is a significant demand for wound dressings. The market will also grow as the prevalence of surgical, traumatic and chronic wounds rises. Furthermore, the market will benefit from technological advancements and the introduction of next-generation advanced wound dressing kits for wound dressing.
Global Wound Care Market by Application
Based on application, it is segmented into diabetic wounds, skin burn wounds, pressure wounds, surgical wounds, venous legs ulcers and others. The diabetic wound segment is likely to dominate the market during the forecast period. The largest share of the segment is attributed to the rising geriatric population and surging prevalence of diabetes among adults. For instance, according to the National Diabetes Statistics Report published in 2020, around 34.2 million people suffered with diabetes and in case of diabetes, incidence of chronic wounds, specifically foot ulcers, is increasing. Furthermore, a significant proportion of the diabetic population is subjected to non-traumatic amputations in some cases. Amputations are performed on approximately 60% of diabetic patients in the U.S. Such scenarios will drive segment growth.
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Market Trends and Drivers
Over the past decade, there has been a noticeable rise in the prevalence of chronic wounds, as a result of the increasing elderly population across the globe along with the rising obesity and diabetes rates. Obesity and diabetes can result in an increased overall complexity and incidence of wounds including ulcerations (foot or leg ulcers), surgical wounds and infections, which require treatments and incur excessive medical costs.
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Recent Developments
- In February 2021, Axio Biosolutions, received CE Certification for next-gen wound-care product MaxioCel.
- In September 2020, Centaur Pharma, introduced WOXHeal, diabetic foot ulcer drug, topical solution that will cost Rs 1850 for a week’s treatment, and can reportedly help prevent amputation.
- June 2019, Mölnlycke Health Care AB announced partnership with Zuellig Pharma to improve the availability of wound care products and solutions across the region. This partnership helped the company to accelerate their business growth and improve territorial coverage.
- May 2018. The Wound and Skin Care Division of Coloplast U.S. launched of Biatain Silicone with 3DFit Technology. The product launch helped the firm to boost their product portfolio growth in advanced wound care market.
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