Chronic Wound Care Market
Chronic Wound Care Market Forecasts to 2030 - Global Analysis By Product (Surgical Wound Care and Traditional Wound Care), By Type (Wounds and Ulcers), Application, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $13.49 BN |
|
Projected Year Value (2030) |
US $24.34 BN |
|
CAGR (2023-2030) |
8.8% |
|
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 |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Chronic Wound Care Market is accounted for $13.49 billion in 2023 and is expected to reach $24.34 billion by 2030 growing at a CAGR of 8.8% during the forecast period. The chronic wound care market encompasses products and services aimed at treating persistent wounds, like pressure, diabetic, venous, and arterial ulcers. It includes dressings, therapies, and specialized treatments addressing wound healing, infection control, and patient management.
According to the CDC’s National Diabetes Statistics report of 2020, the number of diabetes patients has increased to an estimated 34.2 million, which comprises about 10.5% of the total population.
Market Dynamics:
Driver:
Increasing number of diabetic patients
Diabetes often leads to complications such as diabetic ulcers, impairing normal wound healing processes. High glucose levels damage blood vessels and nerves, causing poor circulation and reduced sensation, increasing vulnerability to chronic wounds. Consequently, this drives the demand for advanced wound care solutions, including specialized dressings, therapies, and treatments, as healthcare focuses on managing diabetic-related wounds.
Restraint:
Infection delayed healing in chronic wounds
Infections in chronic wounds impede the natural healing process by prolonging inflammation, damaging newly formed tissue, and creating a hostile environment for cell regeneration. Bacterial colonization and bio-film formation further exacerbate the issue, making treatment more complex. Additionally, the presence of infection not only delays wound healing but also increases the risk of complications, such as systemic infections or the need for more aggressive interventions like surgical debridement or antibiotic therapy.
Opportunity:
Rising geriatric population and technological advancements
The increasing elderly population presents an opportunity in the market due to their higher susceptibility to chronic wounds. This demographic trend drives the demand for advanced wound care solutions. Concurrently, technological advancements, such as innovative dressings, bioengineered tissues, and telemedicine, enhance treatment effectiveness and accessibility. These advancements streamline care, improve wound management and offer novel therapeutic approaches. Combining the expanding elderly demographic with cutting-edge technologies fosters fertile ground for continuous innovation and growth in the market.
Threat:
High cost of treatment and inadequate reimbursement policies
Expensive therapies, specialized dressings, and advanced technologies drive up treatment expenses. Inadequate reimbursement policies hinder patient access to these costly interventions, impacting healthcare providers and patients. This scenario potentially limits the adoption of innovative treatments, reduces the quality of care and burdens healthcare systems, which further restrains market growth.
Covid-19 Impact:
The COVID-19 pandemic disrupted the chronic wound care market profoundly. Healthcare resources were redirected to managing the pandemic, impacting regular wound care services. Restrictions on elective procedures and outpatient visits limit access to wound care. Supply chain disruptions affected the availability of wound care products. Additionally, pandemic significantly affected the delivery, accessibility, and utilization of chronic wound care services and products.
The surgical wound care segment is expected to be the largest during the forecast period
The surgical wound care segment is anticipated to dominate the market. Surgical wounds often require specialized care to minimize infection risk and promote healing. The rising number of surgical procedures globally contributes to the demand for postoperative wound management. Additionally, technological advancements in surgical wound care products and techniques enhance efficacy. This, coupled with a growing aging population and increasing chronic diseases requiring surgical interventions, is expected to drive the surgical wound care segment's substantial market share.
The hospitals segment is expected to have the highest CAGR during the forecast period
The hospitals segment is anticipated to experience substantial growth in the market due to several factors. Hospitals serve as crucial centers for specialized wound care, equipped with advanced technologies and skilled healthcare professionals. Rising chronic conditions and an aging population increase the demand for wound care services, often necessitating hospitalization for severe cases. Moreover, hospitals offer comprehensive care, including surgical interventions, specialized therapies, and access to a multidisciplinary team, making them pivotal in addressing complex chronic wounds and fostering growth in this segment.
Region with largest share:
North America is poised to secure the largest market share due to its advanced healthcare infrastructure, extensive research initiatives, and high adoption rates of innovative wound care technologies. Moreover, a significant prevalence of chronic conditions, an aging population and lifestyle factors contribute to a substantial patient pool requiring wound care interventions. Additionally, favorable reimbursement policies and robust healthcare expenditures further drive the market.
Region with highest CAGR:
Asia Pacific's robust growth in the market is due to a growing elderly population and an increasing prevalence of chronic diseases. Additionally, improving healthcare infrastructure, expanding healthcare expenditure and rising awareness about advanced wound care technologies drive market expansion. Moreover, the region's large patient pool, coupled with initiatives to enhance healthcare access, presents significant opportunities for market growth.
Key players in the market
Some of the key players in Chronic Wound Care Market include 3M Healthcare, Advancis Medical, B. Braun, Cardinal Health, Coloplast, ConvaTec Group Plc, HARTMANN Group, Integra LifeSciences, Johnson & Johnson, Medline Industries, Misonix, Mölnlycke Health, Smith & Nephew and Tissue Regenix.
Key Developments:
In May 2023, 3M is planning to invest nearly $150 million to advance capabilities in biopharma filtration technology. The investment will include facility and equipment improvements and the addition of 60 full-time positions in 3M manufacturing facilities in Europe. The new investment will accelerate 3M's development and delivery of vital filtration equipment designed for bioprocessing, biological and small molecule pharmaceutical manufacturing applications, which will enable biotech customers to continue to innovate therapies used for the treatment of conditions such as rheumatoid arthritis, multiple sclerosis and certain cancers.
In May 2023, 3M announced it 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:
• Surgical Wound Care
• Traditional Wound Care
Types Covered:
• Wounds
• Ulcers
Applications Covered:
• Cleansing
• Antibiotics
• Debridement
• Therapy
• Other Applications
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 2021, 2022, 2023, 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
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 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 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 Surgical Wound Care
5.2.1 Advanced Wound Dressing
5.2.1.1 Alginate Dressing
5.2.1.2 Collagen Dressing
5.2.1.3 Film Dressing
5.2.1.4 Foam Dressing
5.2.1.5 Hydrocolloid Dressing
5.2.1.6 Hydrogel Dressing
5.2.1.7 Other Advanced Wound Dressings
5.2.2 Wound Therapy Devices
5.2.2.1 Electric Stimulation Devices
5.2.2.2 Negative Pressure Wound Therapy
5.2.2.3 Oxygen and Hyperbaric Oxygen Equipment
5.2.2.4 Pressure Relief Devices
5.2.2.5 Other Wound Therapy Devices
5.2.3 Anti-infective Dressing
5.2.4 Suture & Staples
5.2.5 Tissue Adhesive & Sealants
5.2.6 Other Surgical Wound Cares
5.3 Traditional Wound Care
5.3.1 Cleansing Agents
5.3.2 Medical Tapes
5.3.3 Other Traditional Wound Cares
6 Global Chronic Wound Care Market, By Type
6.1 Introduction
6.2 Wounds
6.2.1 Infectious Wounds
6.2.2 Surgical Wounds
6.2.3 Other Wounds
6.3 Ulcers
6.3.1 Diabetic Ulcers
6.3.2 Pressure Ulcers
6.3.3 Venous Ulcers
6.3.4 Other Ulcers
7 Global Chronic Wound Care Market, By Application
7.1 Introduction
7.2 Cleansing
7.3 Antibiotics
7.4 Debridement
7.5 Therapy
7.6 Other Applications
8 Global Chronic Wound Care Market, By End User
8.1 Introduction
8.2 Hospitals
8.3 Specialty Clinics
8.4 Home Healthcare
8.5 Other End Users
9 Global Chronic Wound Care Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 3M Healthcare
11.2 Advancis Medical
11.3 B. Braun
11.4 Cardinal Health
11.5 Coloplast
11.6 ConvaTec Group Plc
11.7 HARTMANN Group
11.8 Integra LifeSciences
11.9 Johnson & Johnson
11.10 Medline Industries
11.11 Misonix
11.12 Mölnlycke Health
11.13 Smith & Nephew
11.14 Tissue Regenix
List of Tables
1 Global Chronic Wound Care Market Outlook, By Region (2021-2030) ($MN)
2 Global Chronic Wound Care Market Outlook, By Product (2021-2030) ($MN)
3 Global Chronic Wound Care Market Outlook, By Surgical Wound Care (2021-2030) ($MN)
4 Global Chronic Wound Care Market Outlook, By Advanced Wound Dressing (2021-2030) ($MN)
5 Global Chronic Wound Care Market Outlook, By Alginate Dressing (2021-2030) ($MN)
6 Global Chronic Wound Care Market Outlook, By Collagen Dressing (2021-2030) ($MN)
7 Global Chronic Wound Care Market Outlook, By Film Dressing (2021-2030) ($MN)
8 Global Chronic Wound Care Market Outlook, By Foam Dressing (2021-2030) ($MN)
9 Global Chronic Wound Care Market Outlook, By Hydrocolloid Dressing (2021-2030) ($MN)
10 Global Chronic Wound Care Market Outlook, By Hydrogel Dressing (2021-2030) ($MN)
11 Global Chronic Wound Care Market Outlook, By Other Advanced Wound Dressings (2021-2030) ($MN)
12 Global Chronic Wound Care Market Outlook, By Wound Therapy Devices (2021-2030) ($MN)
13 Global Chronic Wound Care Market Outlook, By Electric Stimulation Devices (2021-2030) ($MN)
14 Global Chronic Wound Care Market Outlook, By Negative Pressure Wound Therapy (2021-2030) ($MN)
15 Global Chronic Wound Care Market Outlook, By Oxygen and Hyperbaric Oxygen Equipment (2021-2030) ($MN)
16 Global Chronic Wound Care Market Outlook, By Pressure Relief Devices (2021-2030) ($MN)
17 Global Chronic Wound Care Market Outlook, By Other Wound Therapy Devices (2021-2030) ($MN)
18 Global Chronic Wound Care Market Outlook, By Anti-infective Dressing (2021-2030) ($MN)
19 Global Chronic Wound Care Market Outlook, By Suture & Staples (2021-2030) ($MN)
20 Global Chronic Wound Care Market Outlook, By Tissue Adhesive & Sealants (2021-2030) ($MN)
21 Global Chronic Wound Care Market Outlook, By Other Surgical Wound Cares (2021-2030) ($MN)
22 Global Chronic Wound Care Market Outlook, By Traditional Wound Care (2021-2030) ($MN)
23 Global Chronic Wound Care Market Outlook, By Cleansing Agents (2021-2030) ($MN)
24 Global Chronic Wound Care Market Outlook, By Medical Tapes (2021-2030) ($MN)
25 Global Chronic Wound Care Market Outlook, By Other Traditional Wound Cares (2021-2030) ($MN)
26 Global Chronic Wound Care Market Outlook, By Type (2021-2030) ($MN)
27 Global Chronic Wound Care Market Outlook, By Wounds (2021-2030) ($MN)
28 Global Chronic Wound Care Market Outlook, By Infectious Wounds (2021-2030) ($MN)
29 Global Chronic Wound Care Market Outlook, By Surgical Wounds (2021-2030) ($MN)
30 Global Chronic Wound Care Market Outlook, By Other Wounds (2021-2030) ($MN)
31 Global Chronic Wound Care Market Outlook, By Ulcers (2021-2030) ($MN)
32 Global Chronic Wound Care Market Outlook, By Diabetic Ulcers (2021-2030) ($MN)
33 Global Chronic Wound Care Market Outlook, By Pressure Ulcers (2021-2030) ($MN)
34 Global Chronic Wound Care Market Outlook, By Venous Ulcers (2021-2030) ($MN)
35 Global Chronic Wound Care Market Outlook, By Other Ulcers (2021-2030) ($MN)
36 Global Chronic Wound Care Market Outlook, By Application (2021-2030) ($MN)
37 Global Chronic Wound Care Market Outlook, By Cleansing (2021-2030) ($MN)
38 Global Chronic Wound Care Market Outlook, By Antibiotics (2021-2030) ($MN)
39 Global Chronic Wound Care Market Outlook, By Debridement (2021-2030) ($MN)
40 Global Chronic Wound Care Market Outlook, By Therapy (2021-2030) ($MN)
41 Global Chronic Wound Care Market Outlook, By Other Applications (2021-2030) ($MN)
42 Global Chronic Wound Care Market Outlook, By End User (2021-2030) ($MN)
43 Global Chronic Wound Care Market Outlook, By Hospitals (2021-2030) ($MN)
44 Global Chronic Wound Care Market Outlook, By Specialty Clinics (2021-2030) ($MN)
45 Global Chronic Wound Care Market Outlook, By Home Healthcare (2021-2030) ($MN)
46 Global Chronic Wound Care Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, Asia Pacific, 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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