Wound Care Market Growth, Trends, Overview, Sales Revenue, Demand & Forecast 2020-2025

The global wound care market is growing at a CAGR of over 5% during the forecast period2018–2024. The adoption of wound care biologics is augmenting the growth of the global wound care market. The commercial availability of a wide array of wound biologics is likely to encourage many end-users to use them in treating wounds as they are clinically proven, safe, and effective than other products. The growing incidence of infections caused in lesions is another factor accelerating the growth of anti-microbial dressings market segment. Anti-microbial agents such as chlorhexidine, maggots, silver, iodine, and honey are increasingly becoming important in the global wound care market. Therefore, the incorporation of anti-microbial agents in wound dressing products is improving clinical outcomes for the treatment of wounds, thereby driving the global wound care market.

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Key Vendor Analysis

These are Key Vendors 3M, Acelity, Cardinal Health, Coloplast, ConvaTec, Medtronic, Mölnlycke Health Care, PAUL HARTMANN, Smith & Nephew, Acell, Adhesys Medical
The global wound care market is highly competitive and dynamic characterized by the presence of several global, regional, and local vendors, offering a diverse range of products and devices for treating various acute and chronic wounds. There are approximately more than 400 vendors providing a wide array of wound care products worldwide. Multiple product launches, strategic acquisitions, and differentiated products have fueled the growth in recent years. New product launches and strategic acquisitions, collaborations will be crucial for companies to maintain revenue growth in the coming years. Large and diversified companies account for nearly 48% of the market share. Also, the majority of key players have demonstrated consistent growth in the last three years. Moderate to the high growth of major players will continue to boost the market growth. In addition, both established and emerging players are developing or commercializing wound care products and devices. Major players are focusing on technological innovations, thereby investing substantial amounts on R&D activities for offering advanced wound care products such as advanced wound dressings, skin grafts, and wound biologics.

The following factors are likely to contribute to the growth of the wound care market during the forecast period:

• Growing Focus on the Development and Commercialization of Wound Biologics
• The emergence of Stem Cell Therapy for Wound Healing
• New Product Approvals/Launches
• Increasing Number of Surgical Procedures

Wound Care Market: Segmentation

This research report includes detailed market segmentation by products, wound type, end-users, and geography. The increase in the geriatric population is a major contributing factor for the growth of the advanced wound care segment as the prevalence of diabetes and other diseases is more common in the elderly age group than youth. The advanced segment is also growing as the majority of market players are offering innovative products to meet the demand for wound care worldwide. The rising incidence of diabetes and associated diabetic foot ulcers in the elderly population globally is fueling steady growth for traditional products. The market is also growing steadily as products such as gauze bandages and adhesive bandages witness sustainable demand for small cuts, bruises as well as for chronic wounds and burns, especially in developing countries. Developing regions such as Africa, Asia, and Latin America are the largest contributors to the traditional products.

The acute wound market is growing mainly due to the rise in surgical site infections (SSI) and the increase in the number of burn cases worldwide. Chronic wounds do not heal through the normal healing process. The segment is growing due to the growing burden of diabetic foot ulcers, venous leg ulcers, pressure ulcers, and some surgical site infections that do not heal naturally or with medicines. Further, about 70% of lower-extremity ulcers are caused by chronic venous insufficiency. People aged 65 years or above are vulnerable to venous ulcers. The overweight and obese population also develop a high risk for diabetes and associated chronic wounds. Therefore, the growing incidence of several chronic wounds is driving the growth of the segment.

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The shift from traditional lower technology wound care treatments to the adoption of advanced treatments is a major factor for the high share of the hospitals and specialty wound clinic segment. Long-term care facilities segment is growing at a steady pace because of the growing incidence of chronic wounds due to the increase in chronic diseases such as diabetes. The growing elderly population is contributing to the growth of the segment as they are more prone to chronic diseases.

Market Segmentation by Products

• Advanced Wound Care Products
• Sutures and Stapling Devices
• Traditional Wound Care
• Hemostats and Surgical Sealants

Market Segmentation by Wound Type

• Acute Wounds
• Chronic Wounds

Market Segmentation by End-users

• Hospitals and Specialty Wound Care Clinics
• Long-term Care Facilities
• Others (ASCs, solo practitioners, and other acute care settings)
• Home Healthcare

The study considers the present scenario of the wound care market and its market dynamics for the period 2018−2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply aspect of the market. The report profiles and examines leading companies and other prominent companies operating in the wound care market.

Tablet of Content

1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of the study
4.4 Market Segments
4.4.1 Market Segmentation by Product
4.4.2 Market Segmentation by Wound Type
4.4.3 Market Segmentation by End-user Type
4.4.4 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

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“The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market).”

Key Market Insights

The report provides the following insights into the wound care market for the forecast period 2019–2024.
• Offers market sizing and growth prospects of the wound care market for the forecast period 2019–2024.
• Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the wound care market.
• Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of market segments and the regional outlook of the wound care market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the market.

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