Global Wound Care
Market Report
2024
Wound Care Market was valued at USD 21.3 billion in 2022 and will reach USD 29.6 billion by 2030, Registering a CAGR of 4.28 % for the forecast period 2023-2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The global Wound Care Market was valued at USD 21.3 billion in 2022 and will reach USD 29.6 billion by 2030, Registering a CAGR of 4.28 % for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Wound Care Market Sales Revenue 2022 | $ 21.3 Billion |
Global Wound Care Market Sales Revenue 2030 | $ 29.6 Billion |
Global Wound Care Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4.28% |
Market Split by Product |
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Market Split by Application |
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Market Split by End User |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Wound Care Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The wound can be defined as an injury to living tissue caused by a cut, blow, or other impacts typically one in which the skin is cut or broken. The demand for wound care products is increasing owing to the increasing number of surgical cases and the increasing number of people with chronic diseases, Furthermore, the increasing incidence of diabetics due to the widespread adoption of a sedentary lifestyle is one of the leading factors contributing to market growth.
Woud care products help to treat diabetic foot ulcers, which are prevalent in diabetic patients. According to Science Direct, diabetic foot ulcers may affect more than 25% of the diabetic population and may lead to amputation of the foot in 20% of patients.
Driving Factors of the Global Wound Care Market
Ambulatory Surgical Centers (ASCs) are expected to drive the market as it offers a variety of services such as surgical care, techniques for prevention, and diagnosis. Ambulatory surgical facilities carry out procedures linked to the gastrointestinal (GI) system, urology, orthopedics, restorative, reconstructive, or alternative plastic surgery. Additionally, as they become more prevalent, ASCs provide services that are affordable. According to Advancing Surgical Care, the market growth is expected to propel during the forecast period with an increase in the number of ASCs patients.
Increased research and development and the launch of advanced products by different key players have increased the market innovatively. Some advanced wound care technologies include xenograft cellular matrices, growth factors, stem cell therapies, and bioengineered allogeneic cellular therapies. The recent launch of the TRUSHIELD NXT surgical wound dressing device with the advantage of infection prevention and 3D hydro cellular substrate for efficient wound protection. Thus the introduction of such novel products for rapid healing is expected to improve their adoption among patients and healthcare providers. This is expected to favor the global wound care market growth.
Restraining factors
Chronic wounds such as diabetic foot ulcers, pressure ulcers, and leg ulcers can progress from mild to severe due to delayed diagnosis and treatment, which have led to foot amputation. The incidence of delayed diagnosis is considerably high in emerging countries, this is due to limited awareness among the population regarding hard-to-heal wounds, limited access to well-developed healthcare infrastructure, and lack of established guidelines and action plans by governing bodies. According to a study published in the Journal of Foot and Ankel Surgery, it was observed that in West India the diagnosis of foot ulcers including diabetic foot, and neuropathic ulcers is delayed in most patients by more than one month up to one year. Thus all the above factors lack favorable reimbursement policies for chronic and acute wounds.
Impact of the COVID-19 Pandemic on the Wound Care Market:
The worldwide need for wound care products was significantly reduced by COVID-19. However, with the development of vaccines countries have opened their borders internationally. As a result, growth in the wound care sector is anticipated to grow in the years following The earlier delayed elective surgeries are projected to be completed after the pandemic, increasing the need for wound care supplies. Thus to meet the demand, many businesses are implementing a variety of methods, including new launches, mergers and acquisitions, collaboration, and expansion. Moreover, different programs aim to help the company increase its product penetration in the general population
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June 2022
Smith+Nephew invested more than $100 million to create a world-class R&D, manufacturing, and flexible office environment. The development will also be supported by a grant from UK Government.Smith+Nephew was founded in Hull in 1856 and is proud to make this major investment in the region for future generations. The Advanced Wound Management R&D program will benefit from advanced laboratories better able to support the development of new technologies to satisfy unmet clinical needs. This ensures that the UK remains one of the world's leading wound care R&D locations. Manufacturing will focus on the production of high-technology products, supporting the fast and efficient launches of new products, and manufacturing complex materials used across Smith+Nephew's portfolio. The new facility is designed with high sustainability standards with a focus on energy and resource efficiency. Thus working with regulators will utilize the best available techniques within our processes to minimize or prevent impact on the environment from operations.
Top Companies Market Share in Wound Care Industry: (In no particular order of Rank)
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North America dominated the wound care market.
Based on regional analysis wound care market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East, and Africa.
North America dominated the market with a share of 45.4% in the wound care market in 2022, Over the projection period, it is anticipated to increase at a significant rate. Major factors driving the expansion of the regional market include the presence of a sizable population base and an expanding patient pool in nations like the U.S. Additionally, because the elderly population is more likely to sustain wounds, there will be an increase in the need for wound care products in this area.
Over the projection period, the Asia Pacific region is anticipated to see the market's greatest growth rate, with a CAGR of 4.7%. This can be attributed to the region's rising prevalence of chronic diseases as a result of changing lifestyle patterns.
The current report Scope analyzes Wound Care Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Wound Care Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Wound Care Industry growth. Wound Care market has been segmented with the help of its Product, Application End User, and others. Wound Care market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Advance Wound Care Market held the largest share of the market
Based on the product, the wound care market can be segmented as Advance Wound Care Products, Surgical Wound Care Products, and Traditional Wound Care Products. Advanced wound care held the maximum share in the product segment. Throughout the forecast period, it is expected to record the highest CAGR. Chronic and non-healing wounds are typically treated using advanced wound care surgery. Moreover, it's expected that an increase in chronic wounds, such as diabetic foot ulcers, would fuel expansion in the wound care sector. While 27,000 individuals receive treatment each year for venous leg ulcers. These wounds heal in an average of 200 days. Thus the market is therefore anticipated to grow throughout the forecast period as a result of the factors mentioned above.
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The chronic wounds market holds the largest share of the market
Based on the application of the wound care market it is segmented into chronic wounds and acute wounds. A chronic wound held the largest market and is anticipated to witness considerable growth over the forecast period. The growing elderly population, together with the rising incidence of venous pressure ulcers, diabetic foot ulcers, and other chronic wounds, is anticipated to fuel the segment's expansion. Additionally, the number of people with varicose vein disease is rising year over year. About 23% of people have varicose vein disease, according to the Journal of the American Heart Association, an increase in the number of varicose vein patients may lead to the development of venous leg ulcers.
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Hospital segments hold the wounds market position
Based on the end-user segment of the wound care market is segmented into clinics, Diagnosis Centers, Hospitals, Home Healthcare, and Long Term Patients. The hospital segment held the largest share due to sedentary lifestyles and an increase in bariatric procedures that call for the use of wound care solutions to prevent surgical site infections. Additionally, hospitals are regarded as significant purchasers of wound care and have long-term agreements with suppliers. The segment is therefore expected to grow during the forecast period.
Additionally, it is predicted that during the course of the forecast period, the number of hospitals related to procedures will rise. Patients typically need wound care products after surgery due to a chronic condition to heal from surgical site wounds. As a result, the wound market is anticipated to increase significantly.
Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the medical devices & consumables industry. She has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations.
In her current role, Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses. Her collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization.Anushka remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Wound Care Market is witnessing significant growth in the near future.
In 2023, the Advance Wound Care Products segment accounted for noticeable share of global Wound Care Market and is projected to experience significant growth in the near future.
The Chronic Wounds segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Tenko Medical Systems, Mueller Sports Medicine and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Product | Advance Wound Care Products, Surgical Wound Care Products, Traditional Wound Care Products |
Application | Chronic Wounds, Acute Wounds |
End User | Clinics Diagnosis Centers, Hospitals, Home Healthcare, Long Term Patients |
List of Competitors | Tenko Medical Systems, Pharmaplast, Mueller Sports Medicine, Previs, Troge Medical, Taumediplast, Lohmann Rauscher, PerSys Medical, HemCon Medical Technologies, Unomedical, Absorbest, PVS, O Two Medical Technologies Inc., Medinet, Neomedic Limited, Integrity Medical Devices, Tonus Elast, Medpack Swiss Group, Rays, Honnes Healthcare, Kuteks, AnsCare, Plasti Lab, Udaipur Health Care, Parker Medical Associates |
This chapter will help you gain GLOBAL Market Analysis of Wound Care. Further deep in this chapter, you will be able to review Global Wound Care Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Analysis 2019 -2031, will provide market size split by Product. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by End User Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Wound Care market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Advance Wound Care Products have a significant impact on Wound Care market? |
What are the key factors affecting the Advance Wound Care Products and Surgical Wound Care Products of Wound Care Market? |
What is the CAGR/Growth Rate of Chronic Wounds during the forecast period? |
By type, which segment accounted for largest share of the global Wound Care Market? |
Which region is expected to dominate the global Wound Care Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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