Abstract
Summary
The wound care market is anticipated to achieve a valuation of USD 28.6 billion by 2028, compared to its 2023 value of USD 21.5 billion, at a CAGR of 5.9% during the forecast period. This growth is propelled by several factors, including the rise in traumatic injuries, an increase in surgical wounds, and augmented spending on traumatic wound management. However, challenges related to wound care product validation and a shortage of skilled professionals pose as significant hurdles in the market's growth trajectory.
“The advanced wound care products segment accounted for the highest growth rate in the wound care market, by product, during the forecast period.”
The wound care market is segmented into advanced wound care products, traditional wound care products and surgical wound care products. In 2022, the advanced wound care products segment accounted for the highest growth rate in the wound care market. The growth can be primarily attributed to the substantial increase in the incidence of traumatic and surgical wounds, significantly driving the demand for advanced wound care solutions within this segment.
“The chronic wound segment accounted for the highest growth rate in the wound care market, by wound type, during the forecast period.”
The wound care market is segmented into chronic wounds and acute wounds based on wound type. In 2022, the chronic wound segment has accounted for the highest growth rate in the wound care market. This growth can be primarily attributed to the aging population, with a global increase in the aging population, there is a higher prevalence of chronic diseases such as diabetes, peripheral artery disease, and venous diseases, all of which can lead to chronic wounds and Growing healthcare expenditure and improving healthcare infrastructure in various regions enable better access to specialized wound care products, thus promoting the growth of the chronic wound care market.
“Home care settings segment accounted for the highest CAGR.”
Based on end users, the wound care market is segmented into hospitals and clinics, long-term patient care, home care settings and other end users. In 2022, the home care settings segment accounted for the highest CAGR. The integration of technology, telemedicine, specialized wound care products, and skilled healthcare professionals into home care settings is driving the advancement of wound care delivery at home.
“Asia Pacific: The fastest-growing region in wound care market.”
The wound care market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa segments, foresees the Asia Pacific region achieving the most significant CAGR in the forecasted period. The growth is propelled by a heightened emphasis on reducing surgical wounds and an increased focus on effectively managing traumatic wounds within this region.
The primary interviews conducted for this report can be categorized as follows:
• By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
• By Designation: C-level - 27%, D-level - 18%, and Others - 55%
• By Region: North America - 51%, Europe - 21%, Asia Pacific - 18%, Latin America – 6% , and the Middle East & Africa – 4%
Lists of Companies Profiled in the Report:
• 3M Company (US)
• Smith & Nephew PLC (UK)
• Cardinal Health (US)
• Medtronic PLC (Ireland)
• B. Braun Melsungen AG (Germany)
• Baxter International, Inc. (US)
• Mölnlycke Health Care AB (Sweden)
• Convatec Group (UK)
• Paul Hartmann AG (Germany)
• Coloplast A/S (Denmark)
• Organogenesis Holdings Inc. (US)
• MiMedx Group, Inc. (US)
• Integra Life Sciences Holdings Corporation (US)
• Bioventus (US)
• Zimmer Biomet Holdings, Inc. (US)
• Ethicon, Inc. (US)
• DeRoyal Industries (US)
• Kerecis (Iceland)
• Acell (US)
• Lohmann & Rauscher GmbH & Co. KG (Germany)
• Medela Ag (Switzerland)
• Talley Group (UK)
• Welcare Industries SPA (Italy)
• Wuhan VSD Medical Science & Technology Co. Ltd. (China)
• Pensar Medical (US)
• Haromed BVBA (Belgium)
• DermaRite Industries LLC (US)
• Medline Industries, Inc. (US)
• Advancis Medical LLC (UK)
• Mil Laboratories Pvt. Ltd. (India).
Research Coverage:
This research report categorizes the wound care market by products, wound type, end user and region. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the wound care market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, key strategies; contracts, partnerships, agreements, new product launches, mergers and acquisitions, and recent developments associated with the wound care market. Competitive analysis of upcoming startups in the wound care market ecosystem is covered in this report.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall wound care market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key Drivers (Rise in the prevalence of diseases and conditions that would impact wound healing capabilities, technological advancements in wound care products), Restraint ( High cost associated with advanced wound care products, risks associated with the use of advanced wound care products), Opportunities (Growth opportunities in emerging countries), Challenges (Growing instances of product recalls by regulatory bodies, dearth of awareness) influencing the growth of the wound care market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the wound care market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the wound care market across varied regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the wound care market.
• Competitive Assessment: In-depth assessment of market ranking, growth strategies and product offerings of leading players like 3M Company (US), Smith & Nephew PLC (UK), Cardinal Health (US), and Medtronic PLC (Ireland), among others in the wound care market strategies.
Table of Contents
1 INTRODUCTION 37
1.1 STUDY OBJECTIVES 37
1.2 MARKET DEFINITION 37
1.2.1 INCLUSIONS AND EXCLUSIONS OF STUDY 38
1.3 MARKETS COVERED 38
1.3.1 MARKET SEGMENTATION 38
1.3.2 REGIONAL SCOPE 39
1.3.3 YEARS CONSIDERED 39
1.4 CURRENCY 40
1.5 LIMITATIONS 40
1.6 STAKEHOLDERS 40
1.7 SUMMARY OF CHANGES 41
1.8 RECESSION IMPACT 41
2 RESEARCH METHODOLOGY 42
2.1 RESEARCH DATA 42
2.2 RESEARCH APPROACH 42
2.2.1 SECONDARY DATA 43
- 2.2.1.1 Key data from secondary sources 43
2.2.2 PRIMARY DATA 44
- 2.2.2.1 Primary sources 44
- 2.2.2.2 Key data from primary sources 45
- 2.2.2.3 Key industry insights 46
- 2.2.2.4 Breakdown of primary interviews 46
2.3 MARKET SIZE ESTIMATION 47
2.3.1 BOTTOM-UP APPROACH 48
- 2.3.1.1 Approach 1: Company revenue estimation approach 48
- 2.3.1.2 Approach 2: Presentations of companies and primary interviews 48
- 2.3.1.3 Growth forecast 49
- 2.3.1.4 CAGR projections 49
2.3.2 TOP-DOWN APPROACH 50
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION 51
2.5 MARKET SHARE 52
2.6 STUDY ASSUMPTIONS 52
2.7 RISK ASSESSMENT 53
2.8 METHODOLOGY & SCOPE-RELATED LIMITATIONS 53
2.9 GROWTH RATE ASSUMPTIONS 53
2.10 RECESSION IMPACT ON WOUND CARE MARKET 54
3 EXECUTIVE SUMMARY 55
4 PREMIUM INSIGHTS 58
4.1 WOUND CARE MARKET OVERVIEW 58
4.2 WOUND CARE MARKET SHARE, BY PRODUCT, 2023 VS. 2028 59
4.3 WOUND CARE MARKET SHARE, BY WOUND TYPE, 2023 VS. 2028 59
4.4 WOUND CARE MARKET SHARE, BY END USER, 2023 VS. 2028 60
4.5 WOUND CARE MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES 60
5 MARKET OVERVIEW 61
5.1 INTRODUCTION 61
5.2 MARKET DYNAMICS 61
5.2.1 DRIVERS 62
- 5.2.1.1 Growing prevalence of diseases & health conditions that affect wound healing capabilities 62
- 5.2.1.1.1 Growing geriatric population 62
- 5.2.1.1.2 Rising prevalence of diabetes 63
- 5.2.1.1.3 Increasing number of surgical procedures worldwide 64
- 5.2.1.2 Rising expenditure on chronic wounds 64
- 5.2.1.3 Increasing incidence of burn injuries 65
- 5.2.1.4 Rising cases of traumatic injuries 65
- 5.2.1.5 Technological advancements in wound care products 66
- 5.2.1.6 Rising use of regenerative medicine for wound management 67
- 5.2.1.1 Growing prevalence of diseases & health conditions that affect wound healing capabilities 62
5.2.2 RESTRAINTS 67
- 5.2.2.1 High cost of advanced wound care products 67
- 5.2.2.2 Risks associated with use of advanced wound care products 68
5.2.3 OPPORTUNITIES 68
- 5.2.3.1 Growth potential of emerging countries 68
5.2.4 CHALLENGES 70
- 5.2.4.1 Growing instances of product recalls by regulatory bodies 70
- 5.2.4.2 Dearth of awareness 70
5.3 PRICING ANALYSIS 70
5.4 PATENT ANALYSIS 72
5.4.1 LIST OF MAJOR PATENTS 73
5.5 VALUE CHAIN ANALYSIS 74
5.6 SUPPLY CHAIN ANALYSIS 75
5.7 ECOSYSTEM ANALYSIS 76
5.7.1 WOUND CARE MARKET: ROLE IN ECOSYSTEM 77
5.8 PORTER’S FIVE FORCES ANALYSIS 77
5.8.1 THREAT OF NEW ENTRANTS 78
5.8.2 THREAT OF SUBSTITUTES 78
5.8.3 BARGAINING POWER OF BUYERS 78
5.8.4 BARGAINING POWER OF SUPPLIERS 78
5.8.5 INTENSITY OF COMPETITIVE RIVALRY 78
5.9 REGULATORY LANDSCAPE 78
5.9.1 NORTH AMERICA 80
- 5.9.1.1 US 80
- 5.9.1.2 Canada 80
5.9.2 EUROPE 81
5.9.3 ASIA PACIFIC 81
- 5.9.3.1 China 81
- 5.9.3.2 Japan 81
- 5.9.3.3 India 81
5.9.4 LATIN AMERICA 81
- 5.9.4.1 Brazil 81
- 5.9.4.2 Mexico 82
5.9.5 MIDDLE EAST 82
5.9.6 AFRICA 82
5.10 PESTEL ANALYSIS 83
5.11 TRADE ANALYSIS 84
5.11.1 TRADE ANALYSIS FOR ADHESIVE DRESSINGS 84
5.12 TECHNOLOGY ANALYSIS 85
5.13 KEY CONFERENCES & EVENTS IN 2023-2024 85
5.14 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS 87
5.14.1 REVENUE SOURCES SHIFTING TOWARD TECHNOLOGY-BASED SOLUTIONS DUE TO COVID-19 PANDEMIC 87
5.14.2 REVENUE SHIFT IN WOUND CARE MARKET 88
5.15 KEY STAKEHOLDERS & BUYING CRITERIA 88
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS 88
5.15.2 BUYING CRITERIA 89
5.16 CASE STUDY ANALYSIS 90
5.16.1 CASE STUDY: SURGICAL WOUND TURNS AROUND IN 3 WEEKS 90
6 WOUND CARE MARKET, BY PRODUCT 91
6.1 INTRODUCTION 92
6.1.1 PRIMARY NOTES 92
- 6.1.1.1 Key industry insights 92
6.2 ADVANCED WOUND CARE PRODUCTS 92
6.2.1 ADVANCED WOUND DRESSINGS, BY TYPE 94
- 6.2.1.1 Foam dressings 95
- 6.2.1.1.1 Silicone dressings 97
- 6.2.1.1.1.1 Help expedite wound closure and reduce risk of maceration 97
- 6.2.1.1.2 Non-silicone dressings 98
- 6.2.1.1.2.1 Effective in scar removal and wound healing 98
- 6.2.1.1.1 Silicone dressings 97
- 6.2.1.2 Hydrocolloid dressings 99
- 6.2.1.2.1 Promotes moist environment required for optimal healing 99
- 6.2.1.3 Film dressings 101
- 6.2.1.3.1 Non-absorbable nature ensures strong adoption 101
- 6.2.1.4 Alginate dressings 102
- 6.2.1.4.1 Well-suited for diabetic & foot ulcers 102
- 6.2.1.5 Hydrogel dressings 103
- 6.2.1.5.1 Available in several forms for effective use 103
- 6.2.1.6 Collagen dressings 104
- 6.2.1.6.1 Help release cytokines and growth factors that expedite wound healing 104
- 6.2.1.7 Hydrofiber dressings 106
- 6.2.1.7.1 Combine properties of hydrocolloids and collagen 106
- 6.2.1.8 Wound contact layers 107
- 6.2.1.8.1 Protect wound beds from bacterial and fungal growth 107
- 6.2.1.9 Superabsorbent dressings 108
- 6.2.1.9.1 Designed for highly exuding wounds 108
- 6.2.1.10 Other advanced wound dressings 109
- 6.2.1.1 Foam dressings 95
6.2.2 ADVANCED WOUND DRESSINGS, BY PROPERTY 111
- 6.2.2.1 Non-antimicrobial dressings 111
- 6.2.2.1.1 More cost-effective than antimicrobial alternatives 111
- 6.2.2.2 Antimicrobial dressings 113
- 6.2.2.2.1 Provide comprehensive coverage against potential pathogens 113
- 6.2.2.1 Non-antimicrobial dressings 111
6.2.3 WOUND THERAPY DEVICES 113
- 6.2.3.1 Portable & conventional negative pressure wound therapy devices 115
- 6.2.3.1.1 Growing adoption of single-use NPWT devices in home care settings to drive market 115
- 6.2.3.2 Debridement devices & accessories 116
- 6.2.3.2.1 Development of novel technologies to support market growth 116
- 6.2.3.3 Wound assessment & monitoring devices 117
- 6.2.3.3.1 Potential cost-reducing capabilities to boost adoption 117
- 6.2.3.4 Other devices & accessories 119
- 6.2.3.1 Portable & conventional negative pressure wound therapy devices 115
6.2.4 BIOLOGICAL SKIN SUBSTITUTES 121
- 6.2.4.1 Human donor tissue-derived products 123
- 6.2.4.1.1 High efficacy to support market demand 123
- 6.2.4.2 Acellular animal-derived products 125
- 6.2.4.2.1 Increasing incidence of diabetic foot ulcers and burn injuries to drive market 125
- 6.2.4.3 Biosynthetic products 126
- 6.2.4.3.1 Increased incidence of infected wounds to support market growth 126
- 6.2.4.1 Human donor tissue-derived products 123
6.2.5 TOPICAL AGENTS 127
- 6.2.5.1 Cost-effectiveness and ease-of-use in home care settings to drive growth 127
6.3 SURGICAL WOUND CARE PRODUCTS 128
6.3.1 SUTURES 130
- 6.3.1.1 High tensile strength to drive adoption 130
6.3.2 TISSUE ADHESIVES, SEALANTS, AND GLUES 132
- 6.3.2.1 Fibrin-based sealants 133
- 6.3.2.1.1 Provide better results than sutures 133
- 6.3.2.2 Synthetic adhesives 135
- 6.3.2.2.1 Additional sealing properties than traditional staples 135
- 6.3.2.3 Collagen-based sealants 136
- 6.3.2.3.1 Used in surgical procedures as adjuncts to hemostatic agents 136
- 6.3.2.1 Fibrin-based sealants 133
6.3.3 STAPLERS 137
- 6.3.3.1 Faster and more accurate than suturing 137
6.4 TRADITIONAL WOUND CARE PRODUCTS 138
6.4.1 MEDICAL TAPES 140
- 6.4.1.1 Used for primary wound treatment to cover and secure wounds 140
6.4.2 DRESSINGS 141
- 6.4.2.1 Presence of large patient population for pressure ulcers to drive market 141
6.4.3 CLEANSING AGENTS 142
- 6.4.3.1 High risk of HAIs from open wounds to drive market 142
7 WOUND CARE MARKET, BY WOUND TYPE 144
7.1 INTRODUCTION 145
7.2 ACUTE WOUNDS 145
7.2.1 SURGICAL & TRAUMATIC WOUNDS 146
- 7.2.1.1 Rising volume of surgical procedures to drive market 146
7.2.2 BURNS 148
- 7.2.2.1 High incidence of burn injuries to drive market 148
7.3 CHRONIC WOUNDS 150
7.3.1 DIABETIC FOOT ULCERS 151
- 7.3.1.1 Increasing prevalence of diabetes to support market growth 151
7.3.2 PRESSURE ULCERS 154
- 7.3.2.1 Growing geriatric population to aid market growth 154
7.3.3 VENOUS LEG ULCERS 155
- 7.3.3.1 Rising prevalence of obesity to drive market 155
7.3.4 OTHER CHRONIC WOUNDS 157
8 WOUND CARE MARKET, BY END USER 159
8.1 INTRODUCTION 160
8.2 HOSPITALS & CLINICS 160
8.2.1 INPATIENT SETTINGS 163
- 8.2.1.1 Increasing hospital admissions due to HAIs to drive market 163
8.2.2 OUTPATIENT SETTINGS 164
- 8.2.2.1 Rising cost of inpatient facilities to increase demand for outpatient care settings 164
8.3 HOME CARE SETTINGS 165
8.3.1 LOW COST AND CONVENIENCE TO SUPPORT MARKET GROWTH 165
8.4 LONG-TERM CARE FACILITIES 166
8.4.1 GROWING GERIATRIC POPULATION TO INCREASE DEMAND FOR BETTER LONG-TERM CARE 166
8.5 OTHER END USERS 167
9 WOUND CARE MARKET, BY REGION 169
9.1 INTRODUCTIONS 170
9.2 NORTH AMERICA 170
9.2.1 RECESSION IMPACT ON NORTH AMERICAN WOUND CARE MARKET 177
9.2.2 US 177
- 9.2.2.1 Rising incidence of chronic diseases and diabetes to drive market 177
9.2.3 CANADA 178
- 9.2.3.1 High prevalence of HAIs to support market growth 178
9.3 EUROPE 180
9.3.1 RECESSION IMPACT ON EUROPEAN WOUND CARE MARKET 187
9.3.2 GERMANY 187
- 9.3.2.1 Large diabetic population to support wound care product development and commercialization 187
9.3.3 FRANCE 188
- 9.3.3.1 Rising geriatric population to drive market growth 188
9.3.4 UK 189
- 9.3.4.1 Rising incidence of chronic wounds to propel market growth 189
9.3.5 ITALY 190
- 9.3.5.1 Improving quality and accessibility to medical care to support market growth 190
9.3.6 SPAIN 192
- 9.3.6.1 Increasing number of road traffic accidents to propel market 192
9.3.7 RUSSIA 193
- 9.3.7.1 Government focus on increasing diabetes awareness to favor market growth 193
9.3.8 REST OF EUROPE 194
9.4 ASIA PACIFIC 200
9.4.1 RECESSION IMPACT ON ASIA PACIFIC WOUND CARE MARKET 206
9.4.2 CHINA 206
- 9.4.2.1 Increasing incidence of diabetic foot ulcers to drive market 206
9.4.3 JAPAN 208
- 9.4.3.1 Presence of well-developed healthcare system to favor market growth 208
9.4.4 INDIA 209
- 9.4.4.1 Growing medical tourism to support market growth 209
9.4.5 AUSTRALIA 210
- 9.4.5.1 Increasing initiatives to spread awareness of effective wound care to propel market 210
9.4.6 SOUTH KOREA 211
- 9.4.6.1 Rising geriatric population to aid market growth 211
9.4.7 SINGAPORE 212
- 9.4.7.1 Growing prevalence of diabetes to support market growth 212
9.4.8 REST OF ASIA PACIFIC 213
9.5 LATIN AMERICA 218
9.5.1 RECESSION IMPACT ON LATIN AMERICAN WOUND CARE MARKET 224
9.5.2 BRAZIL 224
- 9.5.2.1 Largest healthcare market in Latin America 224
9.5.3 MEXICO 225
- 9.5.3.1 Increasing burden of diabetes to propel market 225
9.5.4 REST OF LATIN AMERICA 226
9.6 MIDDLE EAST & AFRICA 231
9.6.1 RISING PREVALENCE OF DIABETES TO SUPPORT MARKET GROWTH 231
9.6.2 RECESSION IMPACT ON MIDDLE EAST & AFRICAN WOUND CARE MARKET 236
10 COMPETITIVE LANDSCAPE 237
10.1 OVERVIEW 237
10.2 STRATEGIES ADOPTED BY KEY PLAYERS 237
10.2.1 OVERVIEW OF STRATEGIES DEPLOYED BY PLAYERS IN WOUND CARE MARKET 238
10.3 REVENUE ANALYSIS OF TOP MARKET PLAYERS 240
10.4 MARKET SHARE ANALYSIS 241
10.4.1 WOUND CARE MARKET 241
10.4.2 ADVANCED WOUND CARE MARKET 242
10.4.3 NEGATIVE PRESSURE WOUND THERAPY (NPWT) MARKET 243
10.4.4 ADVANCED WOUND DRESSINGS MARKET 243
10.4.5 SURGICAL SUTURES MARKET 244
10.4.6 DEBRIDEMENT DEVICES MARKET 244
10.4.7 TRADITIONAL AND SURGICAL WOUND CARE PRODUCTS MARKET 245
10.5 COMPANY EVALUATION MATRIX 245
10.5.1 LIST OF EVALUATED VENDORS 245
10.5.2 STARS 245
10.5.3 EMERGING LEADERS 245
10.5.4 PERVASIVE PLAYERS 245
10.5.5 PARTICIPANTS 246
10.5.6 COMPANY FOOTPRINT 247
10.6 STARTUP/SME EVALUATION MATRIX 248
10.6.1 PROGRESSIVE COMPANIES 248
10.6.2 RESPONSIVE COMPANIES 248
10.6.3 DYNAMIC COMPANIES 248
10.6.4 STARTING BLOCKS 248
10.6.5 COMPETITIVE BENCHMARKING 250
10.7 COMPETITIVE SCENARIO 251
10.7.1 PRODUCT LAUNCHES 251
10.7.2 DEALS 252
11 COMPANY PROFILES 253
11.1 KEY PLAYERS 253
11.1.1 3M COMPANY 253
11.1.2 CARDINAL HEALTH 260
11.1.3 MEDTRONIC PLC 266
11.1.4 SMITH & NEPHEW PLC 271
11.1.5 MÖLNLYCKE HEALTH CARE AB 278
11.1.6 B. BRAUN MELSUNGEN AG 282
11.1.7 BAXTER INTERNATIONAL, INC 285
11.1.8 CONVATEC GROUP PLC 288
11.1.9 PAUL HARTMANN AG 292
11.1.10 COLOPLAST A/S 296
11.1.11 ORGANOGENESIS INC 299
11.1.12 MIMEDX GROUP, INC 302
11.1.13 INTEGRA LIFESCIENCES CORPORATION 305
11.1.14 BIOVENTUS LLC 309
11.1.15 ZIMMER BIOMET HOLDINGS, INC 312
11.2 OTHER PLAYERS 315
11.2.1 ETHICON, INC 315
11.2.2 DEROYAL INDUSTRIES, INC 316
11.2.3 KERECIS 318
11.2.4 ACELL INC 319
11.2.5 LOHMANN & RAUSCHER GMBH & CO. KG 320
11.2.6 MEDELA AG 322
11.2.7 TALLEY GROUP LTD 322
11.2.8 WELCARE INDUSTRIES S.P.A 323
11.2.9 WUHAN VSD MEDICAL SCIENCE & TECHNOLOGY CO., LTD 323
11.2.10 PENSAR MEDICAL, LLC 324
11.2.11 HAROMED BV 325
11.2.12 DERMARITE INDUSTRIES, LLC 326
11.2.13 MEDLINE INDUSTRIES, INC 327
11.2.14 ADVANCIS MEDICAL LLC 330
11.2.15 MIL LABORATORIES PVT. LTD 331
12 APPENDIX 332
12.1 DISCUSSION GUIDE 332
12.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 337
12.3 CUSTOMIZATION OPTIONS 339
12.4 RELATED REPORTS 339
12.5 AUTHOR DETAILS 340