This research report on the global wound care market covers sizing and forecast, share, industry trends, growth drivers, and vendor analysis. The market study includes insights on segmentation by products (sutures and stapling devices, advanced and traditional wound care products, and hemostats and surgical sealants), wound type (acute and chronic wound), end-users (hospitals and specialty wound care clinics, long-term care facilities, home healthcare, and others), and geography (North America, APAC, Europe, Latin America, and MEA).
The commercial availability of a wide array of wound biologics is likely to encourage many end-users to use them in wound treatment
The adoption of wound care biologics is augmenting the growth of the global wound care market. Wound care biologics offer help to absorb exudates, providing a moist environment; neutralize the wound alkalinity, restoring the natural power of hydrogen (pH) of the skin; and promote skin regeneration. Hence, the commercial availability of a wide array of wound biologics is likely to encourage many end-users to use them in treating injuries as they are clinically proven, safe, and effective than other products. Although the high cost poses a threat to the growth of the market, the rising incidence of acute and chronic diseases, the increasing acceptance among end-users, the increasing availability of commercial products are likely to influence the advanced wound care segment.
Anti-microbial dressings help to prevent infection and provide protection from common infectious bacteria and other contaminants. They are considered suitable for healing than antibiotics. The growing incidence of infections caused in lesions is another factor accelerating the growth of anti-microbial dressings segment. Anti-microbial agents such as chlorhexidine, maggots, silver, iodine, and honey are increasingly becoming important in the global market. Therefore, the incorporation of anti-microbial agents in dressing products is improving clinical outcomes for the treatment, thereby driving the market. The global wound care market is growing at a CAGR of over 5% during the forecast period 2018–2024.
This research report includes detailed segmentation by products, wound type, end-users, and geography.
Market by Products
The rising incidence of chronic and acute injuries is accelerating the growth of the advanced wound care segment
The increase in the geriatric population is a major contributing factor for the growth of the advanced wound care segment as the prevalence of diabetes and other diseases is more common in the elderly age group than youth. Advanced wound care products are used as interventions when traditional products unable to heal injuries. This segment is also growing as the majority of players are offering innovative products to meet the demand worldwide. The rising incidence of chronic and acute injuries such as trauma injuries, burns, surgical scars, and diabetic foot ulcers is accelerating the growth of this segment.
Traditional wound care products include medical tapes, non-adherent impregnated dressings, gauzes, and cleansing agents. The rising incidence of diabetes and associated diabetic foot ulcers in the elderly population globally is fueling steady growth for traditional products. The market is also growing steadily as products such as gauze bandages and adhesive bandages witness sustainable demand for small cuts, bruises as well as for chronic injuries and burns, especially in developing countries. Developing regions such as Africa, Asia, and Latin America are the largest contributors to the traditional products.
The growing number of surgical procedures worldwide is a key driver for the sutures and stapling devices segment. The use of disposable surgical sutures and stapling devices is also increasing due to the growing initiatives and awareness about communicable infections associated with reusable sutures and stapling devices for surgeries. The sutures product segment is growing as surgical sutures are widely used in the fields of cardiology, orthopedic surgeries, gynecology surgeries, general surgeries, and other surgeries.
Similarly, hemostats and surgical sealants are the two major products under the segment. The hemostats market is growing due to the growing geriatric patients, which require critical attention and are prone to several injuries that typically take a lot of time to heal. Also, the increasing availability of hemostats is driving the growth of the segment.
Market by Wound Type
The rise in surgical site infections and the increase in burn cases worldwide are major factors augmenting the growth of the market
Surgical and traumatic injuries, superficial burns, or abrasions are generally considered as acute injuries. The market is growing mainly due to the rise in surgical site infections (SSI) and the increase in the number of burn cases worldwide. Chronic injuries do not heal through the normal healing process. The segment is growing due to the growing burden of diabetic foot ulcers, venous leg ulcers, pressure ulcers, and some surgical site infections that do not heal naturally or with medicines. Further, about 70% of lower-extremity ulcers are caused by chronic venous insufficiency. People aged 65 years or above are vulnerable to venous ulcers. The overweight and obese population also develop a high risk for diabetes and associated chronic injuries. Therefore, the growing incidence of several chronic injuries is driving the growth of the segment.
Market by End-users
The adoption of advanced treatment is responsible for the high share of the hospitals and specialty wound clinic segment
Many hospitals are increasingly adopting products such as advanced dressings and wound therapy devices. Therefore, the shift from traditional lower technology treatments to the adoption of advanced treatments is a major factor for the high share of hospitals segment. Also, the use of wound biologics is improving clinical outcomes, shortening hospital stays, reducing overall costs per patient, and decreasing complications. Specialty clinics are well equipped to provide advanced precaution for high-risk patients with comorbidities such as patients with cancer on chemotherapy, or non-operative candidates with pressure ulcers to reduce their length of stay or their level of acuity or prevent further complications.
Long-term care facilities provide rehabilitative, restorative, skilled nursing care to patients for assisting daily living activities and typically include rehabilitation facilities, inpatient behavioral health facilities, and long-term chronic care settings. The segment is growing at a steady pace because of the growing incidence of chronic injuries due to the increase in chronic diseases such as diabetes. The growing elderly population is contributing to the growth of the segment as they are more prone to chronic diseases.
The home healthcare segment is growing at the highest CAGR among the other end-user segments in the global market. The increased cost of hospital stay is the primary reason for the use of wound care products in home care settings. Increased technological advances such as hyperbaric oxygen therapy devices, electrical stimulation, and electromagnetic therapy devices embedded with remote monitoring technologies, and smart devices will increase the adoption in home healthcare settings.
Market by Geography
Favorable government initiatives and improved healthcare infrastructure are driving the market growth in APAC
The growth in the number of people suffering from several acute and chronic injuries in the US is the primary factor for the high market share in the North American region. The rise in the geriatric population is another key factor driving growth in the region.
Germany, France, the UK, Italy, and Spain are witnessing significant growth in the market. Factors such as the presence of highly sophisticated healthcare infrastructure, the increase in the patient population, and high awareness regarding the availability of advanced treatment options are the major growth factors. Also, the increased investment in R&D activities for the development of innovative products will have a positive impact on market growth.
APAC is the third-largest market and is expected to grow at the highest CAGR during the forecast period. Favorable government initiatives and improved healthcare infrastructure are driving the growth in the APAC region. Some of the factors contributing to the region’s growth are the presence of a large pool of patient population with acute and chronic injuries and the high volume of surgical procedures, improvements in healthcare infrastructure, and increased healthcare expenditure.
Brazil, Mexico, and Argentina are the major revenue contributors to the LATAM region. The market is growing due to the high incidence of several wound related diseases, accident-related injuries, and a large surgical volume for the treatment of acute and chronic diseases. Also, Latin America has a significant opportunity due to a large number of the diabetic population.
Turkey, South Africa, Saudi Arabia, and Iran are the major revenue contributor to the MEA market. The market in MEA is growing due to the growing incidence of acute and chronic injuries. The prevalence of diseases such as diabetes is high among people aged 65 years or more is also a major contributing factor to the market.
Key Vendor Analysis
The global wound care market is highly competitive and dynamic characterized by the presence of several global, regional, and local vendors, offering a diverse range of products and devices for treating various acute and chronic injuries. There are approximately more than 400 vendors providing a wide array of products worldwide. Multiple product launches, strategic acquisitions, and differentiated products have fueled the growth in recent years. New product launches and strategic acquisitions, collaborations will be crucial for companies to maintain revenue growth in the coming years. Large and diversified companies account for nearly 48% of the market share. Also, the majority of key players have demonstrated consistent growth in the last three years. Moderate to the high growth of major players will continue to boost growth. In addition, both established and emerging players are developing or commercializing products and devices. Major players are focusing on technological innovations, thereby investing substantial amounts on R&D activities for offering products such as advanced dressings, skin grafts, and wound biologics.
Other Prominent Vendors
Acell, Adhesys Medical, Advanced Medical Solutions Group, Advancis Medical, AediCell, AlloSource, AMERX Health Care, AOTI, AxioBiosolutions, Baxter, B. Braun Melsungen, BD, BSN medical, BTI Biotechnology Institute, Carilex Medical, Cohera Medical, CONMED, Cork Medical, Covalon Technologies, CryoLife, DeRoyal Industries, Ethicon, Grena, Hollister, Integra LifeSciences, Intuitive Surgical, LOHMANN & RAUSCHER (L&R), Medline Industries, MiMedx, MPM Medical, MTF Biologics, Ocular Therapeutix, Organogenesis, Osiris Therapeutics, Péters Surgical, Purple Surgical, Reach surgical, Sealantis, Sechrist, Sonoma Pharmaceuticals, Sutures India, Synovis MCA, Talley Group, TRIAGE MEDITECH, Tricol Biomedical, URGO Group, Vivostat, and Waston Medical Appliance
Key Market Insights
The report provides the following insights into the wound care market for the forecast period 2019–2024.
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