The chronic wound care global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Chronic Wound Care Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The chronic wound care market size has grown strongly in recent years. It will grow from $14.23 billion in 2023 to $15.27 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to the aging population, rise in prevalence of chronic diseases, increased incidence of diabetes, growth in awareness about wound management, and improved access to healthcare services.
The chronic wound care market size is expected to see strong growth in the next few years. It will grow to $20.43 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to rising demand for wound care products, increasing healthcare spending in emerging economies, emphasis on preventive wound care measures, personalized wound care solutions, and a growing focus on infection control. Major trends in the forecast period include the integration of digital health solutions in wound care management, expansion of wound care clinics and specialized centers, adoption of artificial intelligence for wound assessment and treatment planning, increased collaboration between wound care specialists and other healthcare professionals, and development of novel biomaterials for wound dressings.
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Scope Of Chronic Wound Care Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Chronic Wound Care Market Overview
Market Drivers –
The surging number of sports injuries is expected to drive the chronic wound care market going forward. Sports injuries refer to physical harm or trauma sustained during participation in sports or recreational activities. The number of sports injuries is on the rise due to various reasons, such as increased intensity of training, a lack of proper warm-up, inadequate protective gear, and poor technique. Chronic wound care aids in treating the surging number of sports injuries by promoting faster healing, preventing infections, and minimizing the risk of complications, thereby facilitating a quicker return to physical activity. For instance, in March 2024, according to the National Safety Council, a US-based non-profit public service organization, in 2022, there were 3.6 million emergency department treatments for sports and recreational equipment-related injuries, up from a record low in 2020, with a 20% increase in 2021 and a further 32% increase in 2022 compared to the previous year. In addition, the number of injuries associated with exercise and exercise equipment grew from 409,224 in 2021 to 445,642 in 2022. Therefore, the surging number of sports injuries is driving the chronic wound care market.
Market Trends –
Major companies operating in the chronic wound care market are increasing their focus on developing advanced solutions, such as negative pressure wound therapy (NPWT) systems, to enable more comfortable and convenient home-based treatment. A negative pressure wound therapy (NPWT) system refers to a medical device that applies controlled suction to a wound, promoting healing by removing excess fluid, reducing edema, and enhancing tissue perfusion. For instance, in April 2024, Smith & Nephew, a UK-based medical equipment manufacturing company, launched the RENASYS EDGE in the US as a patient-centric option for treating chronic wounds. This system features a lightweight, compact design and an intuitive interface for clinicians. Its user-friendly interface provides step-by-step advice on therapeutic applications, and technical support is available with a single click during setup via the system’s near-field communication function. Smith+Nephew also provides 24-hour patient support and a clinical helpline. Its technological advancements, such as increased portability and the incorporation of near-field communication, not only improve patient comfort but also address the growing demand for effective home-based care, potentially lowering healthcare costs associated with chronic wound management in the wound care market.
The chronic wound care market covered in this report is segmented –
1) By Product: Advanced Wound Dressing, Surgical Wound Care, Suture And Staples, Tissue Adhesive And Sealants, Anti-infective Dressing, Traditional Wound Care, Wound Therapy Devices
2) By Application: Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, Other Applications
3) By End-User: Hospitals, Clinics, Homecare Settings, Other End-Users
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Regional Insights –
North America was the largest region in the chronic wound care market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the chronic wound care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the chronic wound care market are Cardinal Health Inc., Johnson & Johnson, 3M Company, Medtronic PLC, Becton Dickinson and Company, Stryker Corporation, Teva Pharmaceuticals, Baxter International Inc., Essity AB (BSN Medical), Medline Industries Inc., Avery Dennison Corporation, Smith & Nephew PLC, Ethicon Inc., Coloplast AS, B. Braun Holding GmbH & Co. KG, Paul Hartmann AG, ConvaTec Group PLC, Mölnlycke Health Care AB, Integra LifeSciences Holdings Corporation, Acelity L.P. Inc., Organogenesis Holdings Inc., MTF Biologics, MIMEDX Group Inc., Vericel Corporation, Anika Therapeutics Inc., Sigvaris Group, Marine Polymer Technologies Inc., Oneness Biotech Co. Ltd., Tissue Regenix Group PLC, Alleva Medical Ltd. (Devon Medical Products)
Table of Contents
- Executive Summary
- Chronic Wound Care Market Characteristics
- Chronic Wound Care Market Trends And Strategies
- Chronic Wound Care Market – Macro Economic Scenario
- Global Chronic Wound Care Market Size and Growth
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- Global Chronic Wound Care Market Competitive Dashboard
- Key Mergers And Acquisitions In The Chronic Wound Care Market
- Chronic Wound Care Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Chronic Wound Care Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Chronic Wound Care Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Chronic Wound Care Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: Cardinal Health Inc. Financial Performance
Table 75: Johnson & Johnson Financial Performance
Table 76: 3M Company Financial Performance
Table 77: Medtronic PLC Financial Performance
Table 78: Becton Dickinson and Company Financial Performance
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