Wound Care Market to grow by USD 6,834.57 million from 2022 to 2027

NEW YORK, July 31, 2023 /PRNewswire/ -- The wound care market size is estimated to grow USD 6,834.57 million at a CAGR of 5.98% from 2022 to 2027 during the forecast period. The number of acute and chronic wounds is the key driver for the growth of the market. The main market drivers for these wounds are ulcers, burns, and postoperative wounds across the world. Consequently, the increasing occurrence of acute wounds, such as surgical and traumatic wounds, is caused due to factors such as abrasion, puncture, laceration, and incision, and chronic wounds, such as diabetic ulcers, venous ulcers, and pressure ulcers are estimated to increase the need for advanced wound care devices. According to data from the National Institutes of Health (NIH), in the US, in 2019, it is estimated that nearly 2% of the total population is affected by chronic injuries. The number of people with chronic wounds is rising worldwide owing to the increasing prevalence of diabetes mellitus. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request sample report

Wound Care Market 2023-2027: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The soft skills training market report covers the following areas:

Wound Care Market 2023-2027 Size

Wound Care Market 2023-2027 Trends

Wound Care Market 2023-2027 Industry Analysis

Wound Care Market 2023-2027: Vendor Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. 3M Co., Advancis Medical, Avery Dennison Corp., Axio Biosolutions Pvt. Ltd., Azelis SA, B.Braun SE, Cardinal Health Inc., Coloplast AS, ConvaTec Group Plc, Galaxy Medicare Ltd., Harro Hofliger GmbH, Johnson and Johnson Services Inc., Medline Industries LP, Medtronic Plc, Molnlycke Health Care AB, Organogenesis Holdings Inc., Paul Hartmann AG, Resonetics, Smith and Nephew plc, and URGO Group are among some of the major market participants.

Vendor Offerings

3M Co.: The company offers wound care such as Closed Surgical Incision Management, Pressure Injury Prevention and Management, Wound Care Solutions in the clinic, community and at home.

Avery Dennison Corp.: The company offers wound care such as Silicone Foam Dressing, Superabsorbent Dressings, Polyurethane Dressings, and Hydrogel.

B.Braun SE: The company offers wound care such as Prontosan Wound Irrigation Solution, Prontosan Debridement Pad for mechanical wound debridement.

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Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession

Global competitiveness and key competitor positions

Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial

Customization options available as per your business needs

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Wound Care Market 2023-2027 - Market Dynamics

Laeding Trend -

Increasing demand for combination wound dressings is the primary trend in the wound care market.

In the wound care market, common antimicrobial agents include honey, iodine, and silver. To improve wound care outcomes, many advanced dressings incorporate antimicrobial agents.

Silver-based hydrofiber dressings are also used in combination with zinc-containing hyaluronan gels to promote wound healing, protect against infection, and create a favorable environment for wound healing.

Many suppliers, for example, MEDIHONEY from Derma Science is an alginate dressing combined with honey. These have various benefits, such as helping to lower the overall pH level in the wound and eliminating bacterial infections.

Thus, combination dressings are important in the treatment of heavy exudate wounds, which will drive the wound care market during the forecast period.

Significant Challenge -

The high cost of wound treatments and advanced wound care products is the major challenge for the wound care market.

In the US, most patients require frequent changes of dressings. The initial purchase cost of typical NPWT devices is around USD 20,000 to USD 30,000. End users also incur additional costs for disposable products or consumables used with NPWT devices, such as dressings tapes and canisters.

Due to the long hospital stay, the material-intensive surgical and non-surgical wound care, multiple procedures, long rehabilitation, and expensive equipment, the treatment of injuries is so expensive.

Many patients in low and middle-income countries cannot afford such expensive treatments. Many countries, such as Australia, have limited funding for chronic wound care. Therefore, the patient has to bear the high cost of wound treatments.

Thus, these factors will hamper the growth of the wound care market during the forecast period.

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Wound Care Market 2023-2027: Segmentation

Wound Care Market is segmented as below:

Product

Application

Geography

The market share growth by the advanced wound dressings segment will be significant during the forecast period. Advanced wound are designed to treat complex wounds, they include moist dressings and antibacterial dressings. Factors such as the growing awareness of the clinical benefits of advanced wound dressings, the rising number of wound care procedures, the presence of a large number of key suppliers, the growing preference for minimal and non-invasive procedures, and the rising use of antibacterial dressings by end users are boosting wound segment. Therefore, these factors will drive the growth of the wound care market through the advanced wound dressing segment during the forecast period.

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Wound Care Market 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027

Detailed information on factors that will assist wound care market growth during the next five years

Estimation of the wound care market size and its contribution to the parent market

Predictions on upcoming trends and changes in consumer behavior

The growth of the wound care market

Analysis of the market's competitive landscape and detailed information on vendors

Comprehensive details of factors that will challenge the growth of the wound care market, vendors

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Related Reports:The wound debridement market size is estimated to grow by USD 474.77 at a CAGR of 7.31% between 2022 and 2027. Furthermore, technavio has segmented the market into end-user, product, and geography. The end-user segment is classified into hospitals, clinics, and others. The product segment is classified into autolytic, surgical, mechanical, enzymatic, and others. The geography segment includes key regions such as North America, Europe, Asia, and Rest of World (ROW). Increased efforts in clinical and preclinical research is the key driver for the growth of the market during the forecast period.

The patch-based wound healing market is expected to increase by USD 329.13 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.8%. Furthermore, this report extensively covers patch-based wound healing market segmentation by application (acute wounds and chronic wounds) and geography (North America, Europe, Asia, and Rest of World (ROW)). The increasing demand for advanced wound healing products is notably driving the patch-based wound healing market growth during the forecast period.

Wound Care Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.98%

Market growth 2023-2027

USD 6,834.57 million

Market structure

Fragmented

YoY growth 2022-2023(%)

5.22

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 41%

Key countries

US, Germany, France, UK, and Japan

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

3M Co., Advancis Medical, Avery Dennison Corp., Axio Biosolutions Pvt. Ltd., Azelis SA, B.Braun SE, Cardinal Health Inc., Coloplast AS, ConvaTec Group Plc, Galaxy Medicare Ltd., Harro Hofliger GmbH, Johnson and Johnson Services Inc., Medline Industries LP, Medtronic Plc, Molnlycke Health Care AB, Organogenesis Holdings Inc., Paul Hartmann AG, Resonetics, Smith and Nephew plc, and URGO Group

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table Of Contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global wound care market 2017 - 2021

4.2 Product Segment Analysis 2017 - 2021

4.3 Application Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Product

6.1 Market segments

6.2 Comparison by Product

6.3 Advanced wound dressings - Market size and forecast 2022-2027

6.4 Surgical wound care - Market size and forecast 2022-2027

6.5 Traditional wound care - Market size and forecast 2022-2027

6.6 Market opportunity by Product

7 Market Segmentation by Application

7.1 Market segments

7.2 Comparison by Application

7.3 Chronic wound - Market size and forecast 2022-2027

7.4 Acute wound - Market size and forecast 2022-2027

7.5 Market opportunity by Application

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 North America - Market size and forecast 2022-2027

9.4 Europe - Market size and forecast 2022-2027

9.5 Asia - Market size and forecast 2022-2027

9.6 Rest of World (ROW) - Market size and forecast 2022-2027

9.7 US - Market size and forecast 2022-2027

9.8 Germany - Market size and forecast 2022-2027

9.9 France - Market size and forecast 2022-2027

9.10 UK - Market size and forecast 2022-2027

9.11 Japan - Market size and forecast 2022-2027

9.12 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 3M Co.

12.4 Avery Dennison Corp.

12.5 Azelis SA

12.6 B.Braun SE

12.7 Cardinal Health Inc.

12.8 Coloplast AS

12.9 ConvaTec Group Plc

12.10 Johnson and Johnson Services Inc.

12.11 Medline Industries LP

12.12 Medtronic Plc

12.13 Molnlycke Health Care AB

12.14 Organogenesis Holdings Inc.

12.15 Paul Hartmann AG

12.16 Resonetics

12.17 Smith and Nephew plc

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

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