Wound Care Market on the Rise: Projected to Reach $46.77 Billion by 2029 - Insights on Market Size, Share & Growth Forecast - Arizton

Arizton is pleased to announce its latest report, global wound care market - focused insights 2024-2029, shedding light on the dynamic and rapidly evolving industry. The comprehensive report unveils valuable market trends, growth opportunities, and the competitive landscape of the business. With in-depth analysis and meticulous research, this report serves as a strategic guide for industry players, investors, and decision-makers, offering a comprehensive understanding of the current wound care market dynamics and future prospects.   

Browse in-depth research on the wound care market by product type (advanced wound care products, sutures & stapling devices, traditional wound care products, and hemostats & surgical sealants), wound type (acute wound and chronic wound), end-user (hospitals & specialty wound care clinics, long-term care facilities, home healthcare, and other end-users), Geography (North America, Europe, APAC, Latin America, and Middle East & Africa) 

Arizton estimated that the global wound care market size was valued at USD 33.13 billion in 2023 and is expected to reach USD 46.77 billion by 2029, growing at a CAGR of 5.91% during the forecast period.           

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Recent Developments in the Global Wound Care Market 

• In 2024, Convatec Group Plc revealed a significant advanced wound care clinical study result (AQUACEL Ag+) Extra dressing product in venous leg ulcer management. 
• In 2024, Mölnlycke Health Care acquired the leading wound cleansing and moisturizing manufacturing company, P.G.F. Industry Solutions GmbH, strengthening its wound care portfolio. 
• In 2024, Mölnlycke Health Care announced an investment of around USD 15 million in mediWound Ltd – a next-generation enzymatic therapeutic company focused on non-surgical wound debridement. 
• In 2023, Coloplast acquired Kerecis- one of the pioneering wound care companies- for up to USD 1.3 billion, which will further expand Coloplast’s burn skin wound care portfolio.  

The U.S. Leads North America and Global Wound Care Market in 2023 

In 2023, the United States accounted for 92% of the North American wound care market, securing its position as the leading global market with over 30% market share. The U.S. contributed significantly to the global wound care market, generating $10.85 billion in revenue. 

Chronic Wounds Impacting U.S. Population 

Chronic wounds continue to affect the quality of life for approximately 3% of the total U.S. population. In 2024, around 6.5 million Americans are estimated to suffer from chronic wounds, representing 2% of the overall population. This growing issue has turned into a public health concern, affecting not only the elderly but also the younger population, which has seen an increase in open wound and chronic wound cases. 

In the U.S., nearly 3% of individuals over 65 years have open wounds. With the elderly population expected to reach 97 million by 2060, the prevalence of chronic wounds is likely to rise, posing challenges for the healthcare system. 

U.S. Annual Spending on Chronic Wounds Exceeds $25 Billion 

The U.S. allocates over $25 billion annually for chronic wound care, positioning it as one of the leading markets for wound care solutions globally. 

Diabetic Foot Ulcers and Venous Leg Ulcers Dominating U.S. Market 

In 2023, the U.S. reported 1.6 million cases of diabetic foot ulcers (DFUs), accounting for 13% of global prevalence. Additionally, venous leg ulcers (VLUs) affected around 3% of the U.S. population in 2022, making the country the highest globally in terms of prevalence. Pressure ulcers (or bedsores) remain a significant concern, affecting around 2.5 million Americans annually. 

Growth in Specialty Wound Care Clinics 

According to the Dermatology Times, in 2022, the U.S. had approximately 2,200 specialty wound care clinics, with nearly 2,000 associated with hospitals. Additionally, many vascular, plastic, podiatric, and other specialties are actively focusing on wound care across the country. 

Advancements in Next-Generation Smart Dressings Revolutionize Wound Care 

The introduction of smart bandage technology is transforming chronic wound management, offering a range of advanced benefits that enhance healing processes. Unlike traditional passive dressings, smart dressings use wireless technology to monitor wounds, detecting signs of inflammation, infection, or issues with blood flow. These bandages can send real-time alerts to patients and healthcare providers via Bluetooth technology, facilitating timely intervention and treatment. 

Developed with bioelectronic materials and other cutting-edge components, smart bandages can accelerate wound healing by delivering electric stimulation to the surrounding cells and tissues. This next-generation solution revolutionizes how medical professionals approach wound care, offering more effective and precise treatment options for chronic wounds.  

Competitive Analysis  

The global wound care market features exclusive data on 60 key vendors, revealing a highly fragmented landscape dominated by large corporations. Despite the strong presence of major players, there are significant growth opportunities for new entrants, particularly those introducing innovative products and technologies. 

Leading companies such as 3M, B. Braun SE, Cardinal Health, Convatec Group Plc, Medtronic, Mölnlycke Health Care, PAUL HARTMANN AG, Smith & Nephew, Coloplast Group, and Johnson & Johnson (Ethicon) hold substantial market shares. These established vendors are continuously investing in developing and refurbishing medical equipment, allowing them to maintain dominance in the market. Their ongoing efforts to innovate and enhance wound care solutions will strengthen their positions in the evolving wound care market.  

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