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Wound Care Market to Witness Huge Growth from 2024 to 2030

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Nayara Rajput
Wound Care Market to Witness Huge Growth from 2024 to 2030

Wound Care Industry Overview



The global wound care market size was estimated at USD 22.25 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.17% from 2024 to 2030. The demand for wound care products is increasing owing to the increasing number of surgical cases and the rising prevalence of chronic diseases across the globe. Furthermore, the increasing incidence of diabetes due to a sedentary lifestyle is one of the leading factors contributing to market growth. For instance, as per a report by Centers for Disease Control and Prevention (CDC), which was last reviewed in April 2023, 37.3 million Americans have diabetes. Similarly, as per the same source, 96 million American adults have prediabetes.



Gather more insights about the market drivers, restrains and growth of the Wound Care Market



Besides, wound care products help cure diabetic foot ulcers, which are prevalent in diabetic patients. For instance, according to a National Institute of Health (NIH) report, last updated in August 2023, diabetes is a major cause of non-traumatic amputations in the U.S. Overall, 5% of patients with diabetes develop foot ulcers, of which 1% may need an amputation. Wound care products such as hydrocolloid dressings help in moisture retention and allow rapid healing of wounds internally as well as externally. Moreover, these products help in the absorption of necrotic tissues, which are effective in cases of surgical site infections. Thus, healthcare professionals prefer to use wound care products, which is anticipated to propel the market growth over the forecast period.



Moreover, rising cases of burn injuries are another key factor fueling the market growth. One of the key factors responsible for its dominance is an increase in the number of burn cases. For instance, here are some general statistics on burn injuries based on data from the World Health Organization (WHO) and the American Burn Association:



  • An estimated 180,000 deaths occur each year worldwide due to burn injuries.
  • In the U.S., there are approximately 486,000 burn injuries that require medical treatment each year, with about 40,000 of those requiring hospitalization.
  • In the U.S., fire/flame burns are the most common type of burn injury (43%), followed by scalds (34%), contact burns (9%), electrical burns (4%), chemical burns (3%), and other types of burns (7%).



Furthermore, the increasing number of traumatic injuries globally is expected to propel the market. For instance, according to a WHO report (published in June 2022), around 1.3 million people die every year because of road traffic accidents. Similarly, as per nationgroup.com, in 2022, about 14,737 individuals died in Thailand as a result of traffic-related incidents. Collagenase-based enzymatic wound debridement products are majorly used to treat such acute wounds. Thus, such cases are expected to increase the demand for wound care products.



Browse through Grand View Research's Medical Devices Industry Research Reports.


  • The global biosensors market size was estimated at USD 28.9 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2030.
  • The global home healthcare market size was valued at USD 390.24 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 7.96% from 2024 to 2030.



Key Companies profiled:


  • Smith & Nephew
  • Mölnlycke Health Care AB
  • ConvaTec Group PLC
  • Ethicon (Johnson & Johnson)
  • Baxter International
  • DeRoyal Industries, Inc.
  • Coloplast Corp.
  • Medtronic
  • 3M
  • Integra LifeSciences, Inc.
  • Medline Industries, Inc.
  • B. Braun Melsungen AG
  • Cardinal Health, Inc.
  • Organogenesis Inc.
  • MIMEDX Group, Inc.


Key Wound Care Company Insights


The wound care industry is highly fragmented in nature with the presence of several small and large manufacturers. Competitive rivalry and a degree of competition in the market are expected to intensify over the forecast period due to the presence of many players in the market. Companies in this market invest heavily in research and development to introduce new and innovative products. Advanced wound dressings, bioactive dressings, and novel technologies are areas of focus for differentiation. Key players often have diverse product portfolios covering a range of wound care products, including dressings, bandages, topical agents, and devices. This diversity allows companies to address various aspects of wound management.


Recent Developments


  • In June 2023, an Evonik company-JeNaCell-introduced the wound dressing epicite balance to the German market. This dressing is well-suited and optimized for pressure ulcers, venous leg ulcers, arterial leg ulcers, diabetic foot ulcers, and soft tissue lesions, which are chronic wounds with low to medium exudation.
  • In March 2023, ConvaTec Group PLC announced the U.S. FDA’s approval of InnovaBurn placental extracellular matrix medical device for the treatment of difficult surgical wounds and burns.



Order a free sample PDF of the Wound Care Market Intelligence Study, published by Grand View Research.


 

 

 

 

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