ID: MRFR/HC/0421-CR | 217 Pages | Published By Rahul Gotadki on February 2022
Global wound care market is expected to reach USD 19,393.44 million at CAGR of 5.80% during the forecast period of 2022 to 2030
2022 to 2030
The Wound Care Market is projected to reach USD 19,393.44 million by 2030 at 5.80% CAGR during the forecast period 2022-2030. The key factors that drive the global wound care market are the rising number of patients suffering from acute and chronic wounds. An increasing geriatric population susceptible to chronic wounds is supporting the growth of this market. Moreover, favorable reimbursement scenario and increasing number of product launches are anticipated to increase the global wound care market size. However, side-effects associated with products and complications associated with surgical wounds are anticipated to hamper the market growth.The wound care market continues to evolve as top medical institutions focus on R&D projects toenhance treatment methods. At the Johns Hopkins School of Medicine, scientists have been examining a phenomenon in mice that occurs when they sustain wounds: the mice create new hair follicles at the site of the lesion just like they did when they were embryos, a process that generally does not occur in adults. As a result, researchers examined the role of skin bacteria in wound healing and wound-induced hair follicle neogenesis (WIHN), a rare adult organogenesis model.
Impact of COVID-19
The COVID-19 pandemic has disrupted the supply chain and interrupted the entire value chain of the wound care market, from raw material procurement to manufacturing, packaging, and distribution. With several manufacturers having the required raw material and end-product stock, the impact does not seem high for a short duration. However, if the pandemic prolongs and trade restrictions are extended, the impact is expected to rise.Wound care remained a critical sector even during the pandemic, especially for chronic patients, thus the market witnessed product launches. At a time when the prevalence of complex chronic wounds is rising and access to wound care nurse specialists is getting more difficult, HARTMANN USA and Corstrata announce their partnership to assist home health and other in-home caregivers in caring for wound patients. Through this partnership, in-home healthcare practitioners who treat patients with chronic wounds will have easier access to HARTMANN's line of cutting-edge wound care products as well as Corstrata's virtual team of board-certified wound nurses (WOC nurses).
According to the American Burn Association, National Burn Repository 2019, acute burn admissions for the adult age groups from ages 20 to 59.9 years were higher than those below 16 or above 60 years of age. A 2018 retrospective analysis of Medicare beneficiaries identified that 8.2 million people had wounds with or without infections. People with diabetes are more susceptible to wounds. The rising prevalence of burn cases is also increasing the demand for wound care products. The increasing incidence of chronic injuries is one of the major factors responsible for the growth of the wound care market.
The most common wound care complication is infection. John Hopkins Medicine reports that surgical site infections affect up to 3% of people undergoing surgery. Patients undergoing surgery to treat wounds and injuries need proper care. The complications related to surgical procedures include osteomyelitis, gangrene, peri-wound dermatitis, and edema. The HAI Progress Report, 2019, reports about a 7% decrease in the standardized infection ratio related to all operative procedure categories combined between 2015 and 2019. Thus, side effects of products can hamper the growth of the wound care market during the forecast period.
Many manufactures are trying to expand the market by acquisition, primarily, in developing the region. Also, mergers or acquisition with regional players and other expansion strategy are also expected to be adopted by the market players to expand their market offering. Also, the growth in sealants, glues, and hemostats markets has been strong enough to fascinate the market players. The most recent product launch by 3M (US) includes its 3M Hi-Tack Silicone Adhesive for people with fragile skin. Additionally, an increasing amount of funding for R&D and commercialization of products have paved way for market entrants. Increasing product launches, acquisitions coupled with growing number of market entrants creates a lucrative opportunity for new players. Moreover, the growing incidences of chronic wounds have intensified the need for faster wound healing products.
Value Chain Analysis
The global wound care market is growing at a steady rate and is expected to upsurge in the future. This is due to the increasing number of players coming forward to provide cost-effective products and services and the increasing adoption rate. The value chain analysis for the global wound care market comprises five major components that start with the research and product development followed by manufacturing the products, distribution, marketing & sales, and ends with post-sales monitoring.Technological itegration in the wound care market has led to the advent of smart devices. For instance, the Thomas J. Watson College of Engineering and Applied Science at Binghamton University (US) published new research in October 2022that suggests an adhesive-free, stretchable, permeable wound-care platform with multiple sensors that would provide real-time data about wound discharge as a first step toward a better understanding of the wound-healing process through "smart" bandages. Additionally, a heating element would maintain the ideal temperature for wounds.
Advanced wound management products are mostly used to treat chronic and non-healing wounds. Antimicrobial compounds, such as honey and silver, are included in some of these treatments to speed wound healing and prevent infections. For instance, in February 2020, Baxter International Inc. launched its product Peri-Strips Dry with Veritas Collagen Matrix (PSDV), which helps surgical procedures by effectively reducing intra- and post-operative staple line bleeds and leaks.
Wound therapy devices such as electric stimulation devices, pressure relief devices, and Negative Pressure wound Therapy (NPWT) devices are particularly effective in treating diabetic foot and venous leg ulcers. Wound therapy devices are majorly used for the treatment of acute and chronic wounds. According to National Center for Biotechnology Information, diabetic foot ulcers affect 9.1 to 26.1 million people worldwide each year. Approximately 15 to 25% of diabetic patients develop a diabetic foot ulcer during their lives.
Traditional wound care products are frequently used as primary or secondary dressings to keep wounds clean and safe. These include gauze, lint, plasters, bandages (natural or synthetic), and cotton wool for protecting the wound from contaminations. Traditional wound care products are majorly used to treat dry wounds. According to the Swedish Fracture Register 2020, the overall annual incidence was 1,229 fractures per 100,000 people. This results in a 1.2% annual fracture rate per individual. Additionally, roughly 10.2 million fracture cases are reported to medical offices and hospitals in the US every year. Thus, the growing incidence rate of fractures is anticipated to drive the demand for traditional wound care products during the assessment period.
Wound care products are primarily designed to ensure that wounds heal quickly and effectively. Wound care products are increasingly being used to prevent surgical site infections. Most surgical wounds are relatively large and deep, producing exudate that requires regular management. It includes gauze sponges, medical drapes, sutures, dressing & bandages, surgical tapes, and staples, which help manage large wounds.
Active wound care products are used to treat complex burn injuries, surgical wounds, and diabetic wounds in patients for grafting. It Includes allografts, xenografts, synthetic skin grafts, amniotic tissue grafts, collagen dressings and growth factors.
Chronic wounds represent a major medical and financial burden and are associated with significant morbidity and mortality rates. Chronic wounds may take months or years to close fully. They critically affect the individual’s quality of life and are a leading cause of escalating healthcare costs. A diabetic foot ulcer is a type of chronic wound that occurs in diabetic patients. Wound size, location, pressure on the ulcer, blood circulation, swelling, glucose levels, and treatment and dressing given to the ulcer affect the healing period required for chronic wounds.
Contact with rough, hard, or sharp surfaces that damages the skin or underlying tissue causes acute wounds. These are commonly treated by common methods and even by household methods, majorly in developing countries. With the increasing standard of living and busy lifestyles, the segment is expected to show considerable high growth in the coming future, even in developing countries. Surgical and traumatic wounds, abrasions, or superficial burns are generally considered acute wounds.
The surgical wound segment is growing due to rising surgical procedures in developed countries, along with increasing healthcare expenditure for wound care in these countries. For instance, according to the National Health Service (NHS), surgery is the most important treatment offered by the NHS in secondary care within the UK. Additionally, according to Eurostat, at least 1.16 million cesarean sections were performed in the European Union in 2018.
The ulcer segment is divided into diabetic foot ulcers, pressure ulcers, venous leg ulcers, and others. The growth of the ulcer segment can be attributed to the growing geriatric population, rising cases of diabetic foot ulcers and diabetic population, and the increase in the number of older adults living with a disability. Additionally, an increasing number of initiatives to create awareness on wound management leads to the growth in the ulcer segment in the wound care market.
Standard care for burns consists of cleaning and debridement, followed by different types of dressings. Most of the dressings used for burn wounds need to be changed with a certain frequency. The burns segment accounted for a significant share due to the rising cases of burn injuries around the globe. According to the American Burn Association (ABA), over 450,000 significant burn injuries require medical treatment in the US each year. These factors drive the growth of the wound care market.
The trauma wounds segment is growing due to factors such as rising surgical procedures, technological development, and new product launches by key players. According to the American Association for the Surgery of Trauma, trauma is the fourth leading cause of death overall for all ages. Additionally, according to WHO, approximately 1.3 million people die each year as a result of road traffic crashes, and almost 50 million people suffer non-fatal injuries, with many incurring a disability as a result of their injury.
By End User
Most of the people in the developing regions prefer hospitals as advanced treatment for any wound injuries. The increasing prevalence of diabetes and the number of surgeries has further driven the growth of the hospitals market. According to the US National Library of Medicine, in 2018, around 5.7 million people in the US suffered from chronic wound diseases. Around 80-85% of wound care management costs incurred by patients are spent on nursing and hospitalization costs. Wound management accounts for over half of community health nurse resources in European settings.
Clinics are medical facilities that treat wounds with pressure treatments and offer cleaning, bandaging, wound evaluation, and monitoring services. The clinics segment is expected to grow at a significant rate due to the specialized treatment and advancement of the facilities.
The home healthcare segment is growing tremendously due to the ease of use for the patient and external factors such as the COVID-19 pandemic, making it difficult for patients to visit hospitals & clinics. The healing process depends on the stage, severity, family history, and location of the wound. Once a patient is healed or started healing from the wound, home care healthcare is prescribed by healthcare providers.
Trauma centers provide care for patients suffering from major traumatic injuries. The growing geriatric population, increasing incidence of accident-related injuries, and rising survival rate for severe traumatic injuries are fueling the growth of this segment.
The commercial release of FORTIFY TRG, a tissue repair graft, and FORTIFY FLOWABLE extracellular matrix was announced by Sanara MedTech Inc. in November 2021. These products are intended to treat chronic wounds, such as pressure ulcers, venous ulcers, diabetic ulcers, chronic vascular ulcers, and others.
The global wound care market has been segmented, on the basis of region, into Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas wound care market accounted for USD 19,895.90 million in 2020 and is projected to grow at a CAGR of 6.99% during the forecast period. The Americas is divided into North America and South America. North America is further segmented into the US and Canada. The increasing patient pool with acute or chronic wounds and rising diabetic population prone to wounds are driving the growth of the market in this region.Asia-Pacific
The market in the Asia Pacific accounted for a market size of USD 4,299.53 million in 2020 and is expected to exhibit steady growth at a CAGR of 8.82% during the forecast period owing to the huge patient pool suffering from chronic wounds and the growing geriatric population. Furthermore, rising diabetes cases, increasing per capita income, and government initiatives to enhance the quality of healthcare. China, India, and Australia have a lucrative market for wound care due to the growing older population.
The first patented color-changing wound dressing was developed by DrySee, a medical technology business committed to enhancing wound care. A major publication featured new clinical research on DrySee in October 2022. The study's findings showed that 75% of patients preferred the DrySee wound dressing over gauze or a clear film dressing from 3M Tegaderm + Pad. Patients noted that the DrySee dressing kept in place better during activities and had a longer wear time.
The global wound care market is characterized by the presence of many global, regional, and local players. The high prevalence rate of patients with acute and chronic wounds, increasing geriatric population, and favorable reimbursements make the wound care market lucrative. To expand their reach and optimize their operational costs, the major players focus on obtaining regulatory authorizations from government agencies for their products and emphasize acquisitions and product launches to gain a substantial market share.
The prominent players in the global wound care market are B. Braun Melsungen AG (Germany), 3M (US), Baxter International Inc. (US), Johnson & Johnson Services, Inc. (US), Smith & Nephew (UK), ConvaTec Group Plc (UK), Cardinal Health, Inc. (US), Medtronic Plc (Ireland), Coloplast Corp. (Europe) and Avery Dennison Corporation (US)
The study covers the existing short-term and long-term market effects, helping decision-makers draft short-term and long-term plans for businesses by region. The report covers major regions in Americas, Europe, Asia-Pacific, and the Rest of the World. The report analyzes market drivers, restraints, opportunities, challenges, Porter's Five Forces, value chain, and impact of COVID-19 on the market.
Global Wound Care Market, by Wound Type
Global Wound Care Market, by Application
Global Wound Care Market, by End User
Global wound care Market, by Region
|Market Size||USD 19,393.44 million|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Wound Type, Application, End User, and Region|
|Geographies Covered||Americas, Europe, Asia-Pacific, Middle East & Africa|
|Key Vendors||B. Braun Melsungen AG (Germany), 3M (US), Baxter International Inc.c(US), Johnson & Johnson Services, Inc. (US), Smith & Nephew (UK), ConvaTec Group Plc (UK), Cardinal Health, Inc. (US), Medtronic Plc (Ireland), Coloplast Corp. (Europe) and Avery Dennison Corporation (US)|
|Key Market Opportunities||• Need for refined products creating opportunity for product development|
|Key Market Drivers||• Increasing prevalence of acute and chronic wounds • Growing geriatric population • Reimbursements and product launches|
The wound care market can balloon to a size of USD 19,393.44 million by 2030.
The wound care market size stood at USD 15.45 billion in 2021.
The wound care market can expand at 5.80% CAGR from 2022 to 2030.
North America held the largest share in the wound care market in 2021 and will continue till 2030.
3M, Baxter, Kinetic Concepts, Inc., Smith & Nephew, CanvaTec, B.Braun Melsungen AG, and Ethican, Inc. are key players of the global wound care market.