Wound Care Market is expected to reach US$ 26,994.01 million by 2028

Advanced Wound Dressing Segment, by Product, to Dominate Wound Care Market During 2022–2028

According to our new research study on "Wound Care Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Wound Type, and End User," the market is expected to grow from US$ 19,350.76 million in 2022 to US$ 26,994.01 million by 2028; it is estimated to register a CAGR of 5.7% from 2022 to 2028.

Key factors driving the wound care market growth are increasing cases of road traffic injuries and the rising prevalence of chronic diseases and related wounds. However, challenges in wound care management and an increase in product recalls restrict the wound care market growth.

North America is leading the global wound care market due to the rising cases of chronic ulcers and diabetes in this region. According to a study published by the National Library of Medicine in the US, primary diagnosis of chronic ulcers is conservatively estimated to cost US$ 28 billion yearly, and secondary diagnosis is expected to cost up to US$ 31.7 billion annually. According to the American Diabetes Association (ADA), over 9–12 million Americans suffer from chronic ulcers. The mortality rate for leg ulcers after the first amputation has dramatically doubled from 20% to 50% in the first three years to 70% after five years. According to data published by the National Library of Medicine, diabetes is the leading cause of non-traumatic amputations the US. Overall, about 5% of diabetes mellitus patients develop foot ulcers, and 1% end up with an amputation. The penetration of wound care across several end-user applications is expected to increase product developments during the forecast period. Such conducive factors are anticipated to offer a favorable environment for the US market by 2028. As per the data published by International Diabetes Federation (IDF) in 2021, the incidence of diabetes (per 100,000) in children aged 0–14 years in Canada was around 37.9% was 2021. Additionally, the number of adult diabetes patients aged 20–79 years was around 3 million in the country in 2021. Therefore, owing to the increasing burden of diabetes in Canada, wound care management is expected to witness healthy growth during the forecast period. There is a growing number of product approvals by governing authorities in the wound care market in Canada. In December 2022, Advanced Oxygen Therapy Inc. (AOTI), a provider of noninvasive topical oxygen wound healing solutions, announced that the American Diabetes Association awarded an "A" grade recommendation for the use of adjunctive topical oxygen therapy in treating diabetic foot ulcers (DFU) in their 2023 standards of care in diabetes, the preeminent Clinical Practice Guidance (CPG) in the space, which was published online. The rising number of such product approvals is expected to create lucrative opportunities for the wound care market players during the forecast period.

Wound Care Market, by Geography, 2022 (%)

Source: The Insight Partners Analysis

The wound care market, by product is segmented into advanced wound dressing, surgical wound care, traditional wound care, and wound therapy devices. The advanced wound dressing segment held the largest market share in 2022 and is anticipated to register the highest CAGR during 2022–2028. Advanced wound dressings are used to treat hard-to-heal wounds. Generally, these wounds are caused or are the common side-effects of pressure ulcers, obesity, diabetes, and age-related vascular diseases. The incidences of chronic wounds are growing exponentially across the world. As a result, financial burden of wounds on healthcare services has increased and provoked technical advancements for advanced wound dressing.

Technological advancements have enabled the use of suitable materials for wound dressings that can treat different wound types. The materials used for dressings are derived from animals and herbs. Many dressings are also made of alginate, hydrogel, hydrocolloid, and synthetic materials. The advancements in medicated dressings can rapidly heal hard-to-heal wounds. These dressings help to provide moisture to the wound and protect it against infections.

Smith & Nephew, Ethicon USA LLC, Convatec Group Plc, BAXTER International Inc., Coloplast AS, Paul HARTMANN AG, Medtronic Plc, 3M Company, MIMEDX, and Integra LifeSciences Holdings Corporation are among the key companies operating in the wound care market.

The report segments the Wound Care market as follows:

Based on product, the wound care market is segmented into advanced wound dressing, surgical wound dressing, traditional wound care, and wound therapy devices. The market for the advanced wound dressing segment is further segmented into foam dressing, hydrocolloid dressings, barrier film dressings, alginate dressings, hydrogel dressings, collagen dressings, and other advanced dressings. The market for the surgical wound care segment is sub-segmented into suture and staples, tissue adhesives, and sealants. The market for the traditional wound care segment is further segmented into wound bandages, medical tapes, and accessories. The market for the wound therapy devices segment is sub-segmented into negative pressure wound therapy device, hyperbaric oxygen equipment, pressure relief devices, and others. By wound type, the wound care market is bifurcated into chronic wound and acute wound. The market for the chronic wound segment is further segmented into diabetic foot ulcers, pressure ulcers, venous leg ulcers, and other chronic wounds. The market for the acute wound segment is subsegmented into surgical and traumatic wounds, burn wounds, and others. The wound care market, by end user, is segmented into hospital, speciality clinics, home healthcare, and others. Based on geography, the wound care market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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