Wound Care Market size to grow by USD 6.83 billion from 2022 to 2027, 3M Co., Advancis Medical, Avery Dennison Corp., Axio Biosolutions Pvt. Ltd. and more among the key companies in the market, Technavio

NEW YORK, March 5, 2024 /PRNewswire/ -- The wound care market size is estimated to grow  USD 6.83 billion at a CAGR of 5.98% from 2022 to 2027 during the forecast period. The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. 3M Co., Advancis Medical, Avery Dennison Corp., Axio Biosolutions Pvt. Ltd., Azelis SA, B.Braun SE, Cardinal Health Inc., Coloplast AS, ConvaTec Group Plc, Galaxy Medicare Ltd., Harro Hofliger GmbH, Johnson and Johnson Services Inc., Medline Industries LP, Medtronic Plc, Molnlycke Health Care AB, Organogenesis Holdings Inc., Paul Hartmann AG, Resonetics, Smith and Nephew plc, and URGO Group are among some of the major market participants. Request sample report 

Vendor Offerings 

• 3M Co.: The company offers wound care such as Closed Surgical Incision Management, Pressure Injury Prevention and Management, Wound Care Solutions in the clinic, community and at home.
• Avery Dennison Corp.: The company offers wound care such as Silicone Foam Dressing, Superabsorbent Dressings, Polyurethane Dressings, and Hydrogel.
• B.Braun SE: The company offers wound care such as Prontosan Wound Irrigation Solution, Prontosan Debridement Pad for mechanical wound debridement.

The number of acute and chronic wounds

The main market drivers for these wounds are ulcers, burns, and postoperative wounds across the world. Consequently, the increasing occurrence of acute wounds, such as surgical and traumatic wounds, is caused due to factors such as abrasion, puncture, laceration, and incision, and chronic wounds, such as diabetic ulcers, venous ulcers, and pressure ulcers are estimated to increase the need for advanced wound care devices. According to data from the National Institutes of Health (NIH), in the US, in 2019, it is estimated that nearly 2% of the total population is affected by chronic injuries. The number of people with chronic wounds is rising worldwide owing to the increasing prevalence of diabetes mellitus.

• Increasing demand for combination wound dressings is the primary trend in the market. 
• The high cost of wound treatments and advanced products is the major challenge for the wound care market. 

For more details understanding of Market Dynamics 

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Market Segmentation

Market is segmented as below:

• Product 
• Advanced Wound Dressings
• Surgical Wound Care
• Traditional Wound Care
• Application 
• Chronic Wound
• Acute Wound
• Geography 
• North America
• Europe
• Asia
• Rest Of World (ROW)
• The market share growth by the advanced wound dressings segment will be significant during the forecast period. Advanced wound are designed to treat complex wounds, they include moist dressings and antibacterial dressings. Factors such as the growing awareness of the clinical benefits of advanced wound dressings, the rising number of procedures, the presence of a large number of key suppliers, the growing preference for minimal and non-invasive procedures, and the rising use of antibacterial dressings by end users are boosting wound segment. Therefore, these factors will drive the growth of the market through the advanced wound dressing segment during the forecast period.

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Analyst Review

In healthcare, wound care stands as a critical domain encompassing a wide array of conditions and scenarios, ranging from traumatic injuries to chronic health conditions like obesity and diabetes. The landscape of it involves intricate processes, including surgical procedures and medical interventions, essential for addressing acute, chronic, and surgical wounds effectively.

The prevalence of infections, ulcerations, and chronic wounds necessitates a robust framework for advanced wound management. This framework extends to encompassing various products tailored to meet diverse patient needs. Moreover, the market is shaped by factors such as urbanization, which influences healthcare infrastructure and government initiatives aimed at enhancing awareness and proper wound management in developing regions.

One of the primary focuses of the market lies in identifying signs of infection promptly and implementing appropriate dressing techniques to mitigate risks. This involves a combination of medical expenditures and healthcare education campaigns to empower both healthcare professionals and patients in navigating chronic health conditions and lifestyle factors that contribute to chronic wounds.

Notably, conditions like diabetic foot ulcers, venous leg ulcers, and pressure ulcers represent significant segments within the market, demanding specialized attention and tailored solutions. These conditions often require patient support programs and integration of surgical products alongside traditional products to ensure comprehensive care across various settings, including hospitals and clinics, long-term patient care facilities, and home care settings.

As the market evolves, stakeholders must navigate complexities to secure the largest share in specific segments, such as the diabetic foot ulcers segment, by fostering innovation, enhancing accessibility, and prioritizing patient outcomes. By leveraging advancements in technology, optimizing treatment protocols, and fostering collaborative efforts, the market can continue to address evolving needs and contribute significantly to improving patient well-being worldwide.

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Related Reports:
The wound debridement market size is estimated to grow by USD 474.77 at a CAGR of 7.31% between 2022 and 2027.  Furthermore, technavio has segmented the market into end-user, product, and geography. The end-user segment is classified into hospitals, clinics, and others. The product segment is classified into autolytic, surgical, mechanical, enzymatic, and others. The geography segment includes key regions such as North America, Europe, Asia, and Rest of World (ROW). Increased efforts in clinical and preclinical research is the key driver for the growth of the market during the forecast period.

The patch-based wound healing market is expected to increase by USD 329.13 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.8%. Furthermore, this report extensively covers patch-based wound healing market segmentation by application (acute wounds and chronic wounds) and geography (North America, Europe, Asia, and Rest of World (ROW)). The increasing demand for advanced wound healing products is notably driving the patch-based wound healing market growth during the forecast period.

Table Of Contents 

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

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SOURCE Technavio