The global traditional wound management market was valued at $4.9 billion in 2021, with sales expected to reach $5.1 billion by 2022. The market is expected to grow at a CAGR of 3.2%, surpassing US$ 6.9 billion by 2032. The gauzes segment led the market by product type in 2021, with a market share of around 39.7%.
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The market for traditional wound management grew at a CAGR of 2.9% from 2014 to 2021. Traditional wound management is expected to undergo a shift in dynamics as a result of changes in the demographics of the geriatric population and the increasing incidence of wounds caused by the global problem of infection acquired during surgical procedures.
Furthermore, the surgical list includes chronic wound care. The rise in trauma and chronic diseases such as diabetes and ulcers is the primary driver of the traditional wound management market’s growth.
Key Takeaways
- Because of cost-effectiveness and clear reimbursement policies, the market is expected to show an optimistic outlook. The dramatic shift in wound healing and care dynamics, combined with the widespread adoption of traditional wound management products, represents a significant revenue opportunity for the traditional wound management sector.
- The growing number of chronic wound patients has prompted the development and application of therapies that promote faster and more efficient wound healing. Early healing is expected to contribute to shorter and average hospital stays. Chronic wounds are a chronic health issue because they frequently spread to surrounding tissues, resulting in infection and amputation.
- Several infections occurred as a result of the rise in serious health issues, increasing overall system costs. As a result, traditional wound care and cleansing methods are re-evaluated, and traditional wound care products are incorporated into the patient and wound care system to reduce infection-related costs.
- Regardless of the availability of advanced wound care and healing products, major healthcare professionals and facilities prefer traditional wound management products because of their low cost and long-term training and research experience.
- Some of the factors driving the market include an increase in various surgical procedures, an ageing population, and an increase in the adoption of technologically advanced products. Obstacles include a shortage of skilled professionals, a lack of general knowledge about wound care, and rising medical waste.
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Key Companies Profiled
- Smith & Nephew plc.
- B. Braun Melsungen AG
- Johnson & Johnson Pvt. Ltd.
- Medtronic Plc.
- Cardinal Health,
- Derma Sciences Inc.
- Paul Hartman AG
- Molnlycke Health Care
- Medline Industries, Inc.
- DUKAL Corporation
- BSN Medical
More Insights into the Traditional Wound Management Market
The US is expected to dominate the global traditional wound management market as it accounted for around 26.4% in 2021 and is expected to continue to experience the same growth throughout the forecast period.
China is the second largest manufacturer of traditional wound management. According to the estimations, China is expected to account for 6.0% of globally. The market is expected to surge at a robust pace over the forecast period due to rising healthcare facilities in the region along with the presence of prominent manufacturers.
Key Market Segments Covered in Traditional Wound Management Industry Research
By Product:
- Bandages
- Adhesive Bandages
- Non-adhesive Bandages
- Compression Bandages
- Gauzes
- Woven Gauzes
- Non-woven Gauzes
- Gauze Sponge
- Woven Gauze Sponges
- Non-woven Gauze Sponges
- Sponges
- Woven Sponges
- Non-woven Sponges
By Application:
- Skin and Diabetic Ulcers
- Burns
- Surgeries
- Trauma
- Others (skin cuts, primary dressings, etc.)
By End User:
- Hospitals
- Clinics
- Diagnostic Centers
- Homecare Settings
- Ambulatory Surgical Centers
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