Wound Care Market Will Reach USD 31.81 Billion by 2030 on the Back of Growth in the North American Market

New York, United States, Aug. 29, 2022 (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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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.

Report Scope

Report Metric	Details
Market Size	USD 31.81 Billion by 2030
CAGR	5.35% (2020-2030)
Historical Data	2019-2020
Base Year	2021
Forecast Period	2022-2030
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product, Application, End-User, Regions
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	Smith & Nephew, Mölnlycke Health Care AB, ConvaTec Group PLC, Ethicon (Johnson & Johnson), Baxter International, URGO Medical, Coloplast Corp., Medtronic, 3M, Derma Sciences Inc. (Integra LifeSciences)
Key Market Opportunities	Demand for High-Quality Products
Key Market Drivers	Increasing Number of Ambulatory Surgery Centres (ASCs) Increasing Investment in Research and Development

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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.

Key Highlights

• The global wound care market size was valued at USD 19.90 billion in 2021. It is projected to reach USD 31.81 billion by 2030, growing at a CAGR of 5.35% during the forecast period (2022–2030).
• 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.

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Competitive Analysis

• Smith & Nephew
• Mölnlycke Health Care AB
• ConvaTec Group PLC
• Ethicon (Johnson & Johnson)
• Baxter International
• URGO Medical
• Coloplast Corp.
• Medtronic
• 3M
• Derma Sciences Inc. (Integra LifeSciences)

Global Wound Care Market: Segmentation

By Product

• Advanced Wound Dressing
• Surgical Wound Care
• Traditional Wound Care
• Wound Therapy Devices

By Application 

• Chronic Wounds
• Acute Wounds

By End-User

• Hospitals
• Specialty Clinics
• Home Healthcare

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA

TABLE OF CONTENT

1. Introduction
   1. Market Definition
   2. Market Scope
2. Research Methodology
   1. Primary Research
   2. Research Methodology
   3. Assumptions & Exclusions
   4. Secondary Data Sources
3. Market Overview
   1. Report Segmentation & Scope
   2. Value Chain Analysis: Wound Care Market
   3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
   4. Porter's Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
   5. Market Share Analysis
4. Product Overview
   1. Introduction
      1. Market Size & Forecast
   2. Advanced Wound Dressing
      1. Market Size & Forecast
   3. Surgical Wound Care
      1. Market Size & Forecast
5. Application Overview
   1. Introduction
      1. Market Size & Forecast
   2. Chronic Wounds
      1. Market Size & Forecast
   3. Acute Wounds
      1. Market Size & Forecast
6. Regional Overview
   1. Introduction
      1. Market Size & Forecast
   2. America
      1. North America
      2. U.S.
         1. By Product
         2. By Application
      3. Canada
         1. By Product
         2. By Application
      4. Mexico
         1. By Product
         2. By Application
      5. Latin America
         1. By Product
         2. By Application
   3. Europe
      1. Market Size & Forecast
      2. Germany
         1. By Product
         2. By Application
      3. France
         1. By Product
         2. By Application
      4. U.K.
         1. By Product
         2. By Application
      5. Italy
         1. By Product
         2. By Application
      6. Spain
         1. By Product
         2. By Application
      7. Rest of Europe
         1. By Product
         2. By Application
   4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
         1. By Product
         2. By Application
      3. China
         1. By Product
         2. By Application
      4. Australia
         1. By Product
         2. By Application
      5. India
         1. By Product
         2. By Application
      6. South Korea
         1. By Product
         2. By Application
      7. Rest of Asia-Pacific
         1. By Product
         2. By Application
   5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
         1. By Product
         2. By Application
      3. South Africa
         1. By Product
         2. By Application
      4. Kuwait
         1. By Product
         2. By Application
      5. Rest of Middle East & Africa
         1. By Product
         2. By Application
7. Company Profile
   1. Smith & Nephew
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
   2. Mölnlycke Health Care AB
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
   3. ConvaTec Group PLC
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
8. Conclusion & Recommendation
9. Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/wound-care-market/toc

Market News

• 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.

News Media

Coronavirus Crisis - Impact Of COVID-19 On Healthcare Industry

Increasing Incidences of Burn Injuries Diabetic Foot Ulcers to Provide Impetus to Wound Care Biologics Market

Have a Look at the Related Research Report?

Active Wound Care Market: Information by Product (Biomaterials, Skin-substitute), Application (Chronic Wounds, Acute Wounds), and Region — Forecast till 2030

Acute Wound Care Market: Information by Product (Advanced Wound Dressing, Surgical Wound Care), Application (Chronic Wounds and Acute Wounds), End-User, and Region — Forecast till 2030

Advanced Wound Care Market: Information by Product (Advanced Wound Dressings), Wound Type(Surgical and Traumatic Wounds), End-User(Hospitals), and Region — Forecast till 2029

Wound Care Biologics Market: Information by Product (Biological Skin Substitutes), Wound Type (Ulcers, Burns, Surgical & Traumatic Wounds), End User and Regional Outlook—Forecast Till 2026

Surgical Lights Market: Information by Technology (LED and Halogen Lights), Application (Surgical Wound Treatment), End-User (Hospitals, Clinics) and Regions-Forecast till 2029

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