Wound Care Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030
Page: 215 | Report Code: LS24052301 | Research Suite: Report (PDF) & Market Data (Excel)
The global wound care market was valued at USD 21.7 billion in 2022, and a CAGR of 6.1% is expected during the forecast period. The growth of the market is attributed to the increased utilization of regenerative medicine in wound management, advancements in wound care product technology, and the promising growth prospects in emerging nations like China and India, which are driving demand in the market significantly. The increasing number of accidental cases all over the world is driving growth in the market. With a growing elderly population globally, there is an increased prevalence of wounds like diabetic ulcers and pressure ulcers, which is driving demand in the wound care market significantly.
Innovations in wound care products such as advanced wound dressing, negative pressure wound therapy, and bioengineering skin substitutes improve healing outcomes and drive market growth. The rising number of patients with diabetes is a major risk factor for chronic diseases. The increasing prevalence of diabetes is a major risk factor for chronic wounds.
Growth Drivers
Increasing awareness among healthcare professionals and patients about wound care is driving the growth of the market significantly. The expansion of healthcare infrastructure in all developed nations and emerging economies is driving growth in the market. The increasing prevalence of diabetes is driving growth in the market. The increasing number of road accidents is driving growth in the wound care market significantly. The increasing demand for minimally invasive procedures is driving the demand for better wound care in the market significantly. Increasing awareness among people about better healthcare is driving demand in the market.
The increasing prevalence of diabetes in all parts of the world is driving significant growth in the market. The presence of key players in developed countries and emerging economies is driving growth in the market. Diabetic foot ulcers, pressure ulcers, and venous leg ulcers are becoming more prevalent due to factors like an aging population, a rising rate of diabetes and obesity, and a longer life expectancy. Ongoing advancements in wound care technologies, including the development of advanced wound dressings, bioactive wound care products, and negative pressure wound therapy, are driving significant growth in the market.
The availability of
advanced wound care solutions is driving the demand for wound care. Favorable
reimbursement policies for wound care treatments in many countries, especially
advanced wound care products and procedures, encourage healthcare providers and
patients to invest significantly in these solutions. Due to the decreased skin
elasticity, the elderly population is more injury-prone, which is driving the
demand in the wound care market significantly.
Segmentation
By Wound Type
·
Acute Wound
·
Chronic Wound
By End-User
·
Hospitals and Clinics
·
Long Term Patient Care
·
Home Care Settings
·
Other Users
By Products
·
Advanced Wound Care Products
·
Surgical Wound Care Products
·
Traditional Wound Care Products
Regional Outlook
·
Asia Pacific
·
North America
·
Latin America
·
Europe
·
Middle East and Africa
Wound Care Market by Type Segmentation
On the basis of types, the wound care market is segmented into acute wounds and chronic wounds. Chronic wounds like diabetic ulcers and pressure ulcers require ongoing treatment and care. Leading to consistent demand for wound care products and services. Factors like the aging population and the increasing rate of diabetes are driving the market's growth significantly. Chronic wound patients suffering from diabetes are leading market growth significantly.
Wound Care Market by End-User
Segmentation
On the basis of end-users, the wound care market is
segmented into hospitals and clinics, long-term patient care, home care
settings, and other users. Hospitals and clinics are the leading segment in the
wound care market because they are the primary providers of acute and chronic
wound care services. These facilities have the infrastructure, expertise, and
resources to diagnose, treat, and manage various types of wounds, including
complex cases. Hospitals and clinics often serve as referral centers for
patients who require wound care. Increasing demand for special care for chronic
and acute wounds is driving growth in the market. Increasing technological
advancement in the region is driving growth in the global market. Rising
healthcare expenditure is the key factor behind the significant growth in the
market. Acute and chronic wound care is driving the demand in hospitals.
Regional Outlook
On the basis of the regions, the wound care market is segmented into 5 regions: Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. Due to highly educated people and better healthcare infrastructure all over the world, the North American region is driving the demand in the wound care market significantly. High healthcare expenditures and a large geriatric population are driving growth in the region.
A strong focus on research and development activities contributes to the introduction of innovative wound care products and therapies in the region. Favorable reimbursement policies and high awareness among healthcare professionals are driving significant growth in the market. Europe is another big market due to rising awareness among people regarding better wound care, and a growing focus on preventive healthcare measures is driving growth in the European market, especially in countries like Germany, France, Spain, and Italy.
Asia Pacific is also witnessing significant growth due to the increasing population in emerging economies like China and India. Rising disposable income in the region and an increasing number of private hospitals are emphasizing better wound care in the region. The higher number of people suffering from chronic diseases like diabetes and the increasing growth in population in the region are the key factors behind the significant growth of the market. Local manufacturers offering cost-effective solutions to brands are driving demand in the wound care market significantly.
Increasing incidences of chronic diseases
and improving healthcare infrastructure are driving growth in the region,
especially in emerging economies. The presence of key players in Europe and
North America is driving growth in the market significantly. Middle East and
Africa, and Latin America are experiencing moderate growth in the market due to
less developed healthcare infrastructure in comparison to Europe, the Middle
East, Africa, and Latin America.
Key Players
·
Cardinal Health
·
Medtronic Plc
·
3M Company
·
Coloplast A/S
·
Johnson and Johnson
·
B.Braun Melsungen AG
·
Integra Lifesciences Holdings
Corporation
·
Conva tec Group Plc
·
Smith and Nephew Plc
· Other Players