Chronic Wound Care Market
Chronic Wound Care Market Forecasts to 2030 - Global Analysis By Product (Advanced Wound Dressings, Therapy Devices, Active Wound Care and Other Products), Wound Type, End User and By Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $15.43 BN |
|
Projected Year Value (2030) |
US $22.02 BN |
|
CAGR (2024 - 2030) |
8.6% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Chronic Wound Care Market is accounted for $15.43 billion in 2024 and is expected to reach $22.02 billion by 2030 growing at a CAGR of 8.6% during the forecast period. Chronic wound care involves the treatment and management of wounds that fail to progress through the normal stages of healing within an expected timeframe, typically over three months. Effective chronic wound care includes thorough assessment, debridement, infection control, moisture balance, and addressing underlying conditions. It often requires a multidisciplinary approach, integrating advanced therapies, patient education, and continuous monitoring to promote healing and prevent complications.
According to Agency for Healthcare Research and Quality, more than 2.5 million people in the U.S. develop pressure ulcers every year.
Market Dynamics:
Driver:
Rising incidence of diabetes and obesity
Diabetic patients and obese individuals are more prone to chronic wounds such as ulcers and infections due to impaired healing processes and reduced immunity. Consequently, there is a heightened demand for advanced wound care products and therapies to manage these conditions effectively. This surge in demand drives innovation and expansion within the chronic wound care market, fostering the development of specialized treatments and technologies to address the increasing patient needs.
Restraint:
Limited awareness in developing regions
Limited awareness of chronic wound care in developing regions is often due to a lack of education and training among healthcare professionals, insufficient public health initiatives, and limited access to advanced medical technologies. This lack of awareness results in inadequate diagnosis and treatment, prolonging patient suffering and increasing healthcare costs. Consequently, the market growth is hampered as the demand for advanced wound care products and services remains low, hindering investments and innovations in these regions.
Opportunity:
Supportive government initiatives
Supportive government initiatives provide funding for research and development, ensuring better healthcare infrastructure, and enhancing patient access to advanced treatments. These improve clinical outcomes, while regulatory approvals expedite the availability of innovative wound care products. Additionally, reimbursement schemes reduce the financial burden on patients, encouraging the use of advanced wound care therapies. These combined efforts foster a conducive environment for market expansion and innovation in chronic wound care solutions.
Threat:
High treatment costs
Chronic wound care has high treatment costs due to prolonged healing times, the need for specialized treatments, frequent medical visits, and advanced wound care products. These costs can be substantial for healthcare systems and patients, leading to financial strain. Additionally, the complexity of chronic wounds demands continuous innovations, further escalating costs and creating barriers for market expansion.
Covid-19 Impact
The covid-19 pandemic significantly impacted the chronic wound care market by disrupting supply chains, delaying elective procedures, and shifting healthcare resources to emergency responses. Many patients experienced reduced access to routine care, exacerbating wound conditions. However, it also accelerated the adoption of telemedicine and remote monitoring technologies, enhancing chronic wound management. Overall, the pandemic highlighted the need for resilient and adaptable healthcare systems for chronic conditions.
The therapy devices segment is expected to be the largest during the forecast period
The therapy devices segment is estimated to have a lucrative growth. Therapy devices play a crucial role in chronic wound care by aiding in wound healing and management. These devices include negative pressure wound therapy systems, hyperbaric oxygen chambers, electrical stimulation devices, and ultrasound devices. They provide various therapeutic benefits such as promoting blood circulation, reducing bacterial load, enhancing tissue regeneration, and maintaining a moist wound environment. Effective use of therapy devices is essential in improving outcomes and accelerating the healing process for patients with chronic wounds.
The diabetic foot ulcers segment is expected to have the highest CAGR during the forecast period
The diabetic foot ulcers segment is anticipated to witness the highest CAGR growth during the forecast period. Chronic wound care for diabetic foot ulcers focuses on specialized treatments to manage and heal these complex wounds. It involves a multidisciplinary approach including debridement, offloading, infection control, and advanced dressings tailored to diabetic patient’s needs. Therapeutic interventions aim to prevent complications like infections and amputations, promoting faster healing and improved quality of life. Regular monitoring and patient education are crucial in managing diabetic foot ulcers effectively and preventing recurrence.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period due to aging population, increasing prevalence of diabetes and obesity, and rising healthcare awareness. Countries like China, India, and Japan are driving market growth with their large patient populations and expanding healthcare infrastructure. The adoption of advanced wound care products and technologies is also on the rise, supported by government initiatives and increasing healthcare expenditure.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to its advanced healthcare infrastructure. The U.S. and Canada lead the market with significant investments in research and development of innovative wound care products and technologies. Strong reimbursement policies, widespread awareness, and the presence of key market players further support growth. Further, aging population along with high prevalence of diabetes and obesity in the region fuels the market growth.
Key players in the market
Some of the key players profiled in the Chronic Wound Care Market include The chronic wound care market includes a range of companies such as 3M Healthcare Company, Johnson & Johnson, Smith & Nephew PLC, Mimedx Group, Integra LifeSciences, Molnlycke Health Care, ConvaTec Group plc, Coloplast A/S, Medline Industries Inc., MPM Medical Inc., Organogenesis Inc., Hollister Incorporated, B. Braun Melsungen AG, Hartmann Group, and Medtronic PLC.
Key Developments:
In May 2023, 3M has entered into agreements to sell certain assets associated with its dental local anesthetic portfolio, based in Seefeld, Germany, to Pierrel S.p.A. (""""Pierrel""""), a global provider of services for the pharmaceutical industry, for a purchase price of $70 million, subject to closing and other adjustments.
In January 2023, Mimedx entered into an exclusive distribution agreement with Gunze Medical Limited to sell placental tissue allograft, Epifix for wound healing in Japan. Upon this agreement, the company aims at strengthening its position in the Japan market.
Products Covered:
• Advanced Wound Dressings
• Therapy Devices
• Active Wound Care
• Other Products
Wound Types Covered:
• Diabetic Foot Ulcers
• Pressure Ulcers
• Venous Leg Ulcers
• Arterial Ulcers
• Surgical Wounds
• Other Wound Types
End Users Covered:
• Hospitals
• Specialty Clinics
• Home Healthcare
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Chronic Wound Care Market, By Product
5.1 Introduction
5.2 Advanced Wound Dressings
5.2.1 Hydrocolloid Dressings
5.2.2 Alginate Dressings
5.2.3 Foam Dressings
5.2.4 Hydrogel Dressings
5.2.5 Collagen Dressings
5.3 Therapy Devices
5.3.1 Negative Pressure Wound Therapy (NPWT)
5.3.2 Hyperbaric Oxygen Therapy (HBOT)
5.3.3 Electrical Stimulation Devices
5.3.4 Ultrasound Therapy Devices
5.4 Active Wound Care
5.4.1 Growth Factors
5.4.2 Skin Substitutes
5.4.3 Stem Cell Therapy
5.4.4 Bioengineered Skin
5.5 Other Products
6 Global Chronic Wound Care Market, By Wound Type
6.1 Introduction
6.2 Diabetic Foot Ulcers
6.3 Pressure Ulcers
6.4 Venous Leg Ulcers
6.5 Arterial Ulcers
6.6 Surgical Wounds
6.7 Other Wound Types
7 Global Chronic Wound Care Market, By End User
7.1 Introduction
7.2 Hospitals
7.3 Specialty Clinics
7.4 Home Healthcare
7.5 Other End Users
8 Global Chronic Wound Care Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 The 3M Healthcare Company
10.2 Johnson & Johnson
10.3 Smith & Nephew PLC
10.4 Mimedx Group
10.5 Integra LifeSciences
10.6 Molnlycke Health Care
10.7 ConvaTec Group plc
10.8 Coloplast A/S
10.9 Medline Industries Inc.
10.10 MPM Medical Inc.
10.11 Organogenesis Inc.
10.12 Hollister Incorporated
10.13 B. Braun Melsungen AG
10.14 Hartmann Group
10.15 Medtronic PLC
List of Tables
1 Global Chronic Wound Care Market Outlook, By Region (2022-2030) ($MN)
2 Global Chronic Wound Care Market Outlook, By Product (2022-2030) ($MN)
3 Global Chronic Wound Care Market Outlook, By Advanced Wound Dressings (2022-2030) ($MN)
4 Global Chronic Wound Care Market Outlook, By Hydrocolloid Dressings (2022-2030) ($MN)
5 Global Chronic Wound Care Market Outlook, By Alginate Dressings (2022-2030) ($MN)
6 Global Chronic Wound Care Market Outlook, By Foam Dressings (2022-2030) ($MN)
7 Global Chronic Wound Care Market Outlook, By Hydrogel Dressings (2022-2030) ($MN)
8 Global Chronic Wound Care Market Outlook, By Collagen Dressings (2022-2030) ($MN)
9 Global Chronic Wound Care Market Outlook, By Therapy Devices (2022-2030) ($MN)
10 Global Chronic Wound Care Market Outlook, By Negative Pressure Wound Therapy (NPWT) (2022-2030) ($MN)
11 Global Chronic Wound Care Market Outlook, By Hyperbaric Oxygen Therapy (HBOT) (2022-2030) ($MN)
12 Global Chronic Wound Care Market Outlook, By Electrical Stimulation Devices (2022-2030) ($MN)
13 Global Chronic Wound Care Market Outlook, By Ultrasound Therapy Devices (2022-2030) ($MN)
14 Global Chronic Wound Care Market Outlook, By Active Wound Care (2022-2030) ($MN)
15 Global Chronic Wound Care Market Outlook, By Growth Factors (2022-2030) ($MN)
16 Global Chronic Wound Care Market Outlook, By Skin Substitutes (2022-2030) ($MN)
17 Global Chronic Wound Care Market Outlook, By Stem Cell Therapy (2022-2030) ($MN)
18 Global Chronic Wound Care Market Outlook, By Bioengineered Skin (2022-2030) ($MN)
19 Global Chronic Wound Care Market Outlook, By Other Products (2022-2030) ($MN)
20 Global Chronic Wound Care Market Outlook, By Wound Type (2022-2030) ($MN)
21 Global Chronic Wound Care Market Outlook, By Diabetic Foot Ulcers (2022-2030) ($MN)
22 Global Chronic Wound Care Market Outlook, By Pressure Ulcers (2022-2030) ($MN)
23 Global Chronic Wound Care Market Outlook, By Venous Leg Ulcers (2022-2030) ($MN)
24 Global Chronic Wound Care Market Outlook, By Arterial Ulcers (2022-2030) ($MN)
25 Global Chronic Wound Care Market Outlook, By Surgical Wounds (2022-2030) ($MN)
26 Global Chronic Wound Care Market Outlook, By Other Wound Types (2022-2030) ($MN)
27 Global Chronic Wound Care Market Outlook, By End User (2022-2030) ($MN)
28 Global Chronic Wound Care Market Outlook, By Hospitals (2022-2030) ($MN)
29 Global Chronic Wound Care Market Outlook, By Specialty Clinics (2022-2030) ($MN)
30 Global Chronic Wound Care Market Outlook, By Home Healthcare (2022-2030) ($MN)
31 Global Chronic Wound Care Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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