Wound Care Market Size is Expected to Reach USD 32.75 Billion by 2033, Growing at a CAGR of 3.94%: Straits Research
New York, United States, March 03, 2025 (GLOBE NEWSWIRE) -- The global demand for wound care products is increasing as the number of patients with chronic and acute wounds rises. Market leaders continually focus on introducing innovative wound care products to meet unmet demand. As a result, more people are using conventional, bioactive, and other wound care products. In addition, governments in developing nations and other for-profit and non-profit organizations are increasingly focusing on various awareness campaigns to educate the public about innovative product offerings and therapeutic options for chronic and advanced wounds.
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Market Dynamics
Growing Popularity of Ambulatory Surgery Centers (ASCs) and Expanding funding for R&D Activities Drives the Global Market
The increase in Ambulatory Surgical centers (ASCs) is also anticipated to impact the wound care market. Surgery, testing, and preventive care are just a few of the many services that ASCs provide. Surgery for pain management, urology, orthopedics, restorative, reconstructive, alternative plastic surgery, and gastrointestinal (GI) surgery are all performed in ambulatory surgery facilities. ASCs have become more prevalent, their services have improved, and they have become more affordable.
Due to increased R&D spending and the launch of innovative products by market players like B. Braun Melsungen AG and ConvaTec Group PLC, demand for these products is predicted to increase, especially in developed countries. Additionally, the distinct clinical benefits of negative pressure wound therapy and the introduction of cutting-edge features like single use by market players entice medical professionals worldwide to use NPWT devices.
Growing Need for Refined Products Creates Tremendous Opportunities
Numerous manufacturers attempt to expand the market primarily through acquisitions in developing regions. In addition, market participants are anticipated to adopt mergers or acquisitions with regional players and other expansion strategies to expand their market offerings. In addition, the growth of the markets for sealants, glues, and hemostats has been strong enough to captivate market participants.
Regional Analysis
North America has dominated the wound care market with the highest revenue share and is expected to increase during the forecast period. Significant factors influencing the market growth in this region include a sizable population base and an expanding patient pool in nations like the U.S.
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Key Highlights
- The global wound care market size was valued at USD 23.13 billion in 2024 and is projected to reach from USD 24.04 billion in 2025 to USD 32.75 billion by 2033, growing at a CAGR of 3.94% during the forecast period (2025-2033).
- Based on the product, the market is divided into advanced wound dressing, surgical wound care, traditional wound care, and wound therapy devices. The market for wound care is dominated by the advanced wound dressing segment.
- Based on application, the market is bifurcated into chronic and acute wounds. The chronic wounds segment dominated the wound care market.
- Based on end-use, the market is categorized into hospitals, specialty clinics, and home healthcare. During the forecast period, the segment for acute wounds is anticipated to experience the fastest CAGR.
- North America has dominated the wound care market with the highest revenue share and is expected to increase during the forecast period.
Competitive Players
- Smith & Nephew
- Mölnlycke Health Care AB
- Convatec Group PLC
- Ethicon (Johnson & Johnson)
- Baxter International
- DeRoyal Industries, Inc.
- Coloplast Corp.
- Medtronic
- 3M Company
- Integra LifeSciences Holdings Corporation
- Medline Industries, Inc.
- Braun Melsungen AG
- Cardinal Health, Inc.
- Organogenesis Inc.
- MIMEDX Group, Inc.
Recent Developments
- In June 2022:Smith & Nephew announced a new UK R&D and manufacturing facility for Advanced Wound Management with a USD 100m+ investment near Hull. Smith & Nephew ((LSE: SN, NYSE:SNN), the global medical technology business, announced that it would build a new R&D and manufacturing facility for its Advanced Wound Management franchise on the outskirts of Hull, UK.
- In March 2022:Smith & Nephew announced a new study showing GRAFIX™ Membrane cut the diabetic foot ulcer recurrence rate in half compared to leading competitors. Smith & Nephew ((LSE: SN, NYSE:SNN), the global medical technology business, announced the publication of a peer-reviewed study in the Advances in Wound Care Journal reporting outcomes for Medicare patients with a diabetic foot ulcer (DFU) that shows GRAFIX Cryopreserved Placental Membrane cut DFU recurrence rates in half compared to leading cellular and tissue-based product (CTP) competitors.
- In March 2022:Convatec Group completed the acquisition of Triad Life Sciences Inc as it enters the attractive wound biologics segment. The Triad team, current portfolio, and product pipeline will now transition to Convatec's Advanced Wound Care (AWC) business and be known as Convatec Advanced Tissue Technologies.
Segmentation
By Product
- Advanced Wound Care
- Infection Management
- Silver Wound Dressings
- Non-Silver Dressings
- Collagen Dressings
- Exudate Management
- Hydrocolloids Dressings
- Foam Dressings
- Alginate Dressings
- Hydrogel Dressings
- Active Wound Care
- Skin Substitutes
- Growth Factors
- Therapy Devices
- Negative Pressure Wound Therapy (NPWT)
- Oxygen and Hyperbaric Oxygen Equipment
- Electromagnetic Therapy Devices
- Others
- Infection Management
- Surgical Wound Care
- Sutures & staples
- Tissue adhesive and sealants
- Anti-infective dressing
- Traditional Wound Care
- Medical Tapes
- Cotton
- Bandages
- Gauzes
- Sponges
- Cleansing Agents
By Application
- Chronic Wounds
- Diabetic foot ulcers
- Pressure ulcers
- Venous leg ulcers
- Others
- Acute Wounds
- Surgical & traumatic wounds
- Burns
By Mode of Purchase
- Prescribed
- Non-prescribed (OTC)
By End User
- Hospitals
- Home Care Settings
- Wound Care Centers
- Nursing Homes
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East And Africa
- Latin America
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