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.
Wound care is becoming a standard treatment option for chronic wounds. It helps to maintain moist environment, regulating temperature, allowing oxygen to flow, safeguarding the damaged location from external infection, and pain relief associated with dressing changes. The most widely used wound care product include hydrogels, hydrocolloids, alginates, film & foam dressings and others.
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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.
Rising geriatric population worldwide is the major factor augmenting the wound care industry growth. For instance, as per data published by United Nations population, in 2019, the number of people globally who were 65 and above was 703. This number is further projected to increase to 1.5 billion by 2050. The report also estimated that the share of the population who are 65 and above have increased from 6 per cent in 1990 to 9 per cent in 2019 and is further expected to rise to 16 per cent by year 2050. As a result, one in every three people across the globe will be 65 or older. As the population ages, there will be greater opportunities for advanced wound care because older people’s wounds heal more slowly. Additionally, due to the high risk of infection, especially in the cases of severe wounds, older individuals find it difficult to take care of their own wounds.
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Global Wound Care Market Segmentation
By Product
- Wound Dressings
- Antimicrobial Dressing
- Hydrogel Dressings
- Foam Dressings
- Film Dressings
- Hydrocolloidal Dressings
- Wound Therapy Devices
- Negative Pressure Wound Therapy Systems
- Pressure Relief Devices
- Electrostimulation Devices
- Oxygen and Hyperbaric Oxygen Equipment
- Others
By Application
- Diabetic Wounds
- Skin Burn Wounds
- Pressure Wounds
- Surgical Wounds
- Venous Legs Ulcers
- Others
By End-use
- Hospitals
- Homecare Settings
- Others
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.
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