Advanced Wound Care Market Size & Forecast
The Advanced Wound Care Market is expected to reach $18.19 billion by 2031, at a CAGR of 6.6% from 2024 to 2031. The growth of this market can be attributed to the rise in the number of chronic wounds associated with the geriatric population, growing traumatic injuries, rising number of surgeries, benefits offered by the advanced wound care products over the traditional products, technological advancements in wound care management products, and increasing wound care awareness programs.
Moreover, therapy-based solutions, rising demand for advanced wound care dressings, and partnerships and collaborations between the companies are expected to offer growth opportunities for the players operating in this market.
Advanced Wound Care Market Growth Drivers
Increasing Wound Care Awareness Programs
Various organizations have launched wound care awareness programs, which educate medical professionals, patients, and other people on the most recent developments in wound care technologies and treatments. For instance,
- In August 2022, Far West Local Health District (FWLHD) promoted Wound Awareness Week 2022 to help promote public awareness of the effects of wounds, in addition to the services and treatments offered to assist.
- In June 2022, Healogics, LLC (U.S.) partnered with the American Diabetes Association (ADA) to help prevent chronic wounds and support wound care awareness month by increasing the number of surgeries.
- January 2022, Healogics, LLC (U.S.) launched the “Healing Can’t Wait” program to improve access and awareness of advanced wound care for those who suffered from non-healing wounds.
Thus, increasing wound care awareness programs is expected to drive the demand for advanced wound care products.
Growing Traumatic Injuries
Traumatic injuries caused by falls, road traffic crashes, burns, and acts of violence against oneself or others necessitate prompt medical care and wound care techniques to aid healing and prevent infections. According to the World Health Organization (WHO), in 2021, yearly, 4.4 million people died from injuries, 3.16 million died from accidental wounds, and 1.25 million died from violence-related injuries globally.
In addition, according to the Bureau of Labor Statistics, in 2022, 5,486 fatal work injuries were recorded in the U.S. The various types of advanced wound care products, such as foam dressings, film dressings, wound cleansers, sterile saline wound solutions, and many others, are utilized in the treatment and care of wounds. These products are proven in the wound management, and healing process. As a result of the increased frequency of traumatic injuries, there is more demand for advanced wound care products.
Advanced Wound Care Market Opportunity
Rising Demand for Advanced Wound Care Dressings
Advanced wound care dressings are intended to facilitate improved wound management and faster healing. These dressings provide benefits such as allowing debridement with proteolytic enzymes, maintaining wound moisture, stimulating granulation tissue formation, and lowering the risk of infection. As patients' recovery can be enhanced effectively with advanced dressings, there is a larger demand for these products among patients and medical professionals.
In addition, according to the data published by the National Institutes of Health (NIH) in August 2023, the number of diabetic foot ulcers around the world ranges from 9.1 to 26.1 million yearly. Approximately 15 to 25% of diabetes mellitus people are diagnosed with a diabetic foot ulcer in their lifetime. Thus, the increasing number of chronic wounds, such as diabetic foot ulcers, pressure injuries, and venous ulcers, boosts the demand for advanced wound care dressings.
Therapy-based Solutions
Therapy-based solutions include a variety of advanced therapeutic techniques, including Negative Pressure Wound Therapy (NPWT), hyperbaric oxygen therapy (HBOT), bioengineered skin substitutes, and growth factor therapy. These modalities offer targeted and specialized therapies to speed up wound healing, decrease difficulties and further adverse infections, and enhance patient outcomes. For example, HBOT improves oxygen delivery to the wound site. At the same time, NPWT promotes granulation tissue growth and eliminates excess fluid, resulting in shortened treatment times and improved wound healing, with reduced risk of complications.
Advanced Wound Care Market Analysis: Key Findings
By Product: In 2024, the Advanced Wound Dressings Segment to Dominate the Advanced Wound Care Market
Based on product, the advanced wound care market is segmented into advanced wound dressings, wound therapy devices, wound care solutions, active wound care, and other advanced wound care products. In 2024, the advanced wound dressings segment is expected to account for the largest share of 48.3% of the advanced wound care market. The large market share of this segment can be attributed to the benefits offered by various types of dressings over traditional wound care products. For instance, wound contact layers include protecting the peri-wound skin and wound bed, minimizing pain during dressing changes, reduce the risk of exudate pooling and maceration.
Furthermore, super absorbent dressings help to absorb and retain fluid and prevent microbial overgrowth. Moreover, companies operating in this market are focusing on the introduction of innovative offerings. For instance, in January 2024, Coloplast A/S (Denmark) launched Biatain Silicone, an advanced foam dressing to expand companies position within advanced wound care and prevent pressure injury and wound management in the U.S. Such developments are expected to drive the growth of this segment.
However, the active wound care segment is projected to witness the highest growth rate of 9.1% during the forecast period of 2024–2031. This is due to technological advancements in wound care, rising demand for skin substitutes, and growth factors in wound care.
By Application: In 2024, the Acute Wounds Segment to Dominate the Advanced Wound Care Market
Based on application, the advanced wound care market is segmented into acute wounds and chronic wounds. In 2024, the acute wounds segment is expected to account for the larger share of the advanced wound care market. The large market share can be attributed to the increasing number of surgical and traumatic injuries and burn cases all over the world. According to the Centers for Disease Control and Prevention (CDC) 2023 data, every year, 1.3 million people die due to road traffic injuries and accidents globally. Thus, the increasing number of traumatic injuries drives the demand for advanced wound care products.
By End User: the Hospitals & Clinics Segment to Dominate the Advanced Wound Care Market
Based on end user, the advanced wound care market is segmented into hospitals & clinics, ambulatory surgical centers, home care settings, and other end users. In 2024, the hospitals & clinics segment is expected to account for the largest share of 57.1% of the advanced wound care market. The large market share of this segment can be attributed to the large number of patient visits for wound care and management and surgical procedures in hospitals, the presence of highly skilled healthcare professionals, ease in accessibility, the advancements in wound care, and the adoption of foam dressings, Negative Pressure Wound Therapy (NPWT) devices, sterile saline wound solutions, and skin substitutes by the hospitals & clinics.
On the other hand, the home care settings segment is expected to register the highest growth, with a CAGR of 7.4% during the forecast period, owing to the rise in the launch of easy-to-use wound care products, reluctance by patients to visit hospitals and clinics often for chronic wound care management, growing spending on wound care products, and availability of reimbursement policies in some geographies.
Geographical Analysis
North America to Dominate the Advanced Wound Care Market
In 2024, North America is expected to account for the largest share of 42.3% of the advanced wound care market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America’s significant market share can be attributed to several key factors, including the presence of major advanced wound care companies such as 3M Company (U.S.), Cardinal Health, Inc. (U.S.), and HARTMANN USA, Inc. (U.S.), high adoption of advanced wound care devices and products in hospitals & clinics, increasing cases of chronic wounds such as diabetic foot ulcers, and favorable reimbursement policies.
Moreover, the market in Asia-Pacific is slated to register the highest growth rate of 7.8% during the forecast period. The growth of this regional market is attributed to the growing awareness about advanced wound care and management in countries such as China and India, improving healthcare systems, increasing wound care awareness programs, and growing demand for cost-effective advanced wound care products.
Advanced Wound Care Market: Key Companies
The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last 3–4 years. Some of the key players operating in the advanced wound care market are 3M Company (U.S.), Cardinal Health, Inc. (U.S.), Smith & Nephew plc (U.K.), Integra LifeSciences Corporation (U.S.), Mölnlycke Health Care AB (Sweden), Coloplast A/S (Denmark), Convatec Group plc (U.K.), DeRoyal Industries, Inc. (U.S.), Medline Industries, LP (U.S.), B. Braun Melsungen AG (Germany), Organogenesis Inc. (U.S.), Winner Medical Co., Ltd. (China), HARTMANN USA, Inc. (U.S.) MIMEDX Group, Inc. (U.S.), and Mil Laboratories Pvt. Ltd. (India). The top 4-5 players of this market together hold around 45-50% share in the global advanced wound care market.
Advanced Wound Care Industry Overview: Latest Developments from Key Industry Players
- In October 2023, DuPont de Nemours, Inc. (U.S.) launched DuPont Liveo MG 7-9960 Soft Skin Adhesive, advanced wound care dressings, and adhering medical devices to the skin for extended usage and gentle removal.
- In June 2022, Medline Industries, LP (U.S.) launched the Optifoam Gentle EX Foam Dressing to help reduce pressure injuries.
- In February 2021, Axio Biosolutions Pvt Ltd (India) received European CE Mark approval for the MaxioCel, an advanced wound care product. This product accelerates wound healing through quicker granulation.
Advanced Wound Care Market Research Summary
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Particulars
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Details
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Number of Pages
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330
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Format
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PDF
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Forecast Period
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2024–2031
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Base Year
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2023
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CAGR (Value)
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6.6%
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Market Size (Value)
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USD 18.19 Billion by 2031
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Segments Covered
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By Product
- Advanced Wound Dressings
- Foam Dressings
- Silicone Foam Dressings
- Non-silicone Foam Dressings
- Film Dressings
- Hydrocolloid Dressings
- Alginate Dressings
- Collagen Dressings
- Hydrogel Dressings
- Super Absorbent Dressings
- Hydrofiber Dressings
- Wound Contact Layers
- Other Advanced Wound Dressings
- Wound Therapy Devices
- Negative pressure wound therapy (NPWT)/ Vacuum-assisted Closure (VAC)
- Topical Oxygen Therapy
- Hyperbaric Oxygen Therapy (HBOT)
- Pressure Relief Devices
- Other Wound Therapy Devices
- Wound Care Solutions
- Sterile Saline Wound Solutions
- Wound Cleansers
- Gels
- Topical Skin Adhesives/Skin Glues
- Active Wound Care
- Skin Substitutes
- Growth Factors
- Other Advanced Wound Care Products
(Note1: Other advanced wound dressings include honey dressings, composite dressings, post-op dressings, surfactant dressings, & synthetic dressings.)
(Note2: Other Wound therapy devices include Electromagnetic therapy (EMT), compression therapy, and cleansing & debridement systems.)
(Note3: Other advanced wound care products include wound measurement accessories, skin protectants, rapid dry films, & tapes.)
By Application
- Acute Wounds
- Surgical Wounds
- Traumatic Wounds
- Burns
- Chronic Wounds
- Diabetic Foot Ulcers
- Venus Leg Ulcers
- Pressure Ulcers
- Other Chronic Wounds
(Note: Other chronic wounds include arterial ulcers and acute & sub-acute ulcers.)
By End User
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Home Care Settings
- Other End Users
(Note: Other end users include sports and athletic institutions, defense, and long-term care centers.)
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Countries Covered
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North America (U.S., Canada), Europe (Germany, France, Italy, U.K., Spain, Switzerland, Netherlands, Rest of Europe) Asia–Pacific (India, China, Japan, Australia, South Korea, Rest of Asia–Pacific), Latin America (Brazil, Mexico, Rest of Latin America), Middle East & Africa.
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Key Companies
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3M Company (U.S.), Cardinal Health, Inc. (U.S.), Smith & Nephew plc (U.K.), Integra LifeSciences Corporation (U.S.), Mölnlycke Health Care AB (Sweden), Coloplast A/S (Denmark), Convatec Group plc (U.K.), DeRoyal Industries, Inc. (U.S.), Medline Industries, LP (U.S.), B. Braun Melsungen AG (Germany), Organogenesis Inc. (U.S.), Winner Medical Co., Ltd. (China), HARTMANN USA, Inc. (U.S.) MIMEDX Group, Inc. (U.S.), and Mil Laboratories Pvt. Ltd. (India).
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Key questions answered in the advanced wound care market report:
