Wound Care Market Size, Trends, Opportunities and Competitive Analysis 2024–2032
The global wound care market size accrued earnings worth approximately USD 21.46 Billion in 2023 and is predicted to gain revenue of about USD 36.25 Billion by 2032, is set to record a CAGR of nearly 6.0% over the period from 2024 to 2032.
Advanced wound care products / advanced wound care management solutions refer to a group of products that can be utilized by the healthcare professionals to expedite the healing process of a wound. It is worth noting that over 180 players in this domain offer products in the form of advanced wound care dressings, bioengineered skins and dermal substitutes, and wound healing medical devices. In order to increase the adoption of advanced wound care products, stakeholders are focused on integrating these products with AI technology and machine learning, leading to the development of smart bandages and wound care products that can be operated through mobile app. Moreover, the experts believe that integration of wound care with AI technology has significant revenue generation potential in the near future. Such developments are further supported by the growing partnership activity in this domain. Notably, over the past three years, close to 100 partnerships have been established by stakeholders in advanced wound care market. With the rising popularity of such solutions in the healthcare industry and the ongoing efforts of stakeholders to further improve / expand their respective offerings, the advanced wound care market is likely to witness a steady growth during the forecast period.
Market Segmentation Overview
Market Share by Type of Advanced Wound Care Product
Based on the type of advanced wound care product, the advanced wound care market is categorized into advanced wound care dressings, bioengineered skins and dermal substitutes, and wound healing medical devices. Advanced wound care dressings occupy the highest market share in 2023. However, the bioengineered skins and dermal substitutes segment is expected to witness substantial growth in the coming years.
Market Share by Type of Advanced Wound Care Dressing
Based on the type of advanced wound care dressings, the advanced wound care market is categorized into foam dressings, antimicrobial dressings, hydrogel dressings, hydrocolloid dressings, alginate dressings, composite dressings, and other types of wound care dressings. The foam dressings segment occupies the highest share in 2023 and is expected to remain dominant during the forecast period. This can be attributed to the various advantages of foam dressings, such as capability to stop the exudate, ability to maintain effective temperature and condition for the wound treatment, promotion of autolytic debridement and highly absorbent nature.
Global Wound Care Market: Segmentation
The global wound care market is segmented based on various factors. Such as based on the product type it is divided as advance wound care, surgical wound care, and traditional wound care. Further, the advance wound care products include hydrogel dressings, foam dressings, alginate dressings, collagen dressings, and many others. Similarly, surgical wound care products are sub -segmented as sealants, tissue adhesives, sutures and staples, and anti-infective dressings. Further, traditional wound care products are also diversified in cleansing agents, dressing, and medical tapes. Moreover, based on the type of wound it is segmented as chronic wounds that include pressure ulcers, diabetic foot ulcers, and surgical & traumatic Wounds such as burns comprise under acute wounds. The end-user industries include home healthcare facilities, long-term care facilities, and hospitals and specialty wound clinics.
Global Wound Care Market: Regional Analysis
Geographically, North America is leading the global market for wound care due to an increasing number of geriatric patients and a rising number of diabetic patients. Europe is second in the global market for wound care, as the country is creating a beneficial care facility for the population. The Asia-Pacific region is expected to rise dramatically due to a rising population.
Global Wound Care Market: Competitive Players
Some main participants of the wound care market are
- 3M Health Care
- Acell Inc.
- Acelity L
- Arjo Huntleigh
- Baxter Bioscience
- B. Braun/Aesculap Inc.
- CuraLinc Healthcare ne
- Pfizer
- Johnson & Johnson
- LifeBonder
- Ohmann Notariaat
- Lori Chester(Hollister) Care LLC
- Lohmann & Rauscher
- Arobella Medical, LLC
- Soluble Studio Systems LLC, among others.
Wound Care Market Segments
By Product Type
- Advance Wound Care
- Surgical Wound Care
- Traditional Wound Care
By Type of Wound
- Chronic Wounds
- Surgical & Traumatic Wounds
By End-user
- Home Healthcare Facilities
- Long-Term Care Facilities
- Hospitals
- Specialty Wound Clinics
Wound Care Market: Regional Segments
- North AmericaThe U.S.Canada
- EuropeFranceThe UKSpainGermanyItalyRest of Europe
- Asia PacificChinaJapanIndiaSouth KoreaSoutheast AsiaRest of Asia Pacific
- Latin AmericaBrazilMexicoRest of Latin America
- Middle East & AfricaGCCSouth AfricaRest of Middle East & Africa