Wound Care Devices Market Size, Share & COVID-19 Impact Analysis, By Product Type (Negative Pressure Wound Therapy (NPWT), Hyperbaric Oxygen Therapy (HBOT), Extracorporeal Shock Wave Therapy (ESWT), and Others), By Indication (Diabetic Foot Ulcers, Pressure Ulcers, Surgical Wounds, and Others), By End User (Hospitals, Clinics, Homecare Settings, and Others), and Regional Forecast, 2020-2027

The global wound care devices market size was valued at USD 2.19 billion in 2019 and is projected to reach USD 3.13 billion by 2027, exhibiting a CAGR of 4.6% during the forecast period.

According to the National Health Service (NHS), an estimated 4.5 million people in the U.K. are suffering from diabetes. The prevalence of diabetic foot ulcers among diabetic patients is estimated to be around 10%. Statistics also revealed that hard-to-heal grade- IV diabetic foot ulcers lead to estimated 7,000 foot amputations each year in the U.K. alone. These devices are designed specifically to provide effective treatment for high grade wounds such as diabetic ulcers, pressure ulcers, and surgical wounds.

Globally, the growing geriatric population along with an increase in the incidence of chronic diseases and acute wounds is responsible for the higher demand for advanced devices in the market. For instance, according to the data published by the National Center for Biotechnology Information, in the U.K., the incidence of pressure ulcer is five to seven times high among people of age 65 - 70 years. Additionally, the increasing number of patients undergoing surgeries has resulted in a vast patient population suffering from surgical wounds.

COVID-19 Pandemic: Limited Adoption of Devices to Prevent Transmission

The outbreak of COVID-19 has a negative impact on this market of wound care devices, due to the exemption of wound care from the essential procedures list in many countries. Additionally, healthcare facilities including hospitals and clinics have temporarily shut down their wound care department in order to prevent COVID-19 transmission. These facilities are only accepting emergency cases. This has resulted in a significant drop in the adoption of these devices.

Several medical organizations and healthcare professionals are promoting the use of virtual consultation and wound dressings among patients suffering from mild to moderate wounds. The adoption of these devices is also affected by the disruption in supply chain as an effect of lockdown in many countries, coupled with the requirement of professionals’ assistance during its usage which is not suitable for the current scenario. Thus, such trends are anticipated to have a negative impact on the adoption of wound healing devices in 2020.

LATEST TRENDS

Launch of Innovative Devices to Fulfil Unmet Needs in Wound Management

Wounds such as high grade pressure ulcer, diabetic foot ulcers, and surgical wounds are difficult to heal. Currently, prominent players are focusing on introducing technologically advanced devices in the market in order to cater to the unmet demand of the patient population. For instance, in March 2020, Smith & Nephew announced the U.S launch of its new PICO 14 single use negative pressure wound therapy system (sNPWT) which has a pump duration of up to 14 days. Thus, the growing investments by major players in product developments are resulting in the introduction of novel wound healing devices in the market.

DRIVING FACTORS

Growing Popularity of Devices Such as NPWT to Thrive Market Growth

The distinct benefits offered by devices such as reducing healing time, effective in urgent exudate management, and comparatively lower cost than the active therapies are some of the key factors resulting in its high popularity among patients and healthcare providers across the globe. This, along with the constant focus of renowned players in introducing advanced technology in the market is generating a high demand for wound healing devices for the management of chronic and acute wounds. For instance, in May 2019, KCI, an Acelity Company, received the U.S. FDA approval for DERMATAC Drape, a silicone-acrylic hybrid drape which provides both clinical and operational benefit and is used as an accessory to KCI’s negative pressure wound therapy (NPWT) system.

RESTRAINING FACTORS

Presence of Unfavorable Reimbursement Policies in Emerging Countries to Restrict Adoption

The cost associated with the use of devices is limiting their adoption in emerging countries such as China, India, and others. This is primarily happening due to the lack of adequate reimbursement policies for devices in these countries, which is leading to higher out-of-pocket payments for patients. For instance, according to a study published by the International Surgery Journal (ISJ), it was estimated that in India, the total cost incurred for patients using NPWT for a period of 15 days was USD 11.16 per patient per year. But, the cost of the other patients using conventional wound dressings was USD 10.41 per patient. Thus, comparatively higher cost of device than wound dressings along with inadequate reimbursement are some of the major factors that may restrict the use of wound care products and devices in emerging countries.

SEGMENTATION

By Product Type Analysis

Negative Pressure Wound Therapy Segment to Be Dominant Backed by its High Efficiency

Among product type, the market is segmented into negative pressure wound therapy (NPWT), hyperbaric oxygen therapy (HBOT), extracorporeal shock wave therapy (ESWT), and others. The negative pressure wound therapy segment accounted for the largest Wound Care Devices Market share in the global market in 2019. The dominance of the segment is due to the high efficiency in exudate management and its capability to reduce healing duration of the wound.

However, the hyperbaric oxygen therapy (HBOT) and extracorporeal shock wave therapy (ESWT) segments are anticipated to register a CAGR during the period of 2020-2027.

By Indication Analysis

Diabetic Foot Ulcers Segment to Lead Owing to Rising Cases of Diabetes Worldwide

Based on indication, the wound care devices market is segmented into diabetic foot ulcers, pressure ulcers, surgical wounds, and others. The diabetic foot ulcers segment dominated the market in 2019. The dominance is attributed to the higher prevalence of diabetes globally along with the rising incidence of foot ulcers among diabetic patients. The surgical wounds segment is expected to grow at a significant CAGR during the forecast period due to the increasing number of surgical procedures across the globe.

Also, the pressure ulcers segment is anticipated to grow at a significant CAGR during the forecast period owing to the increasing prevalence of pressure ulcer among the geriatric population.

By End User Analysis

Hospitals Segment Generate Largest Share Fueled by Higher Adoption of Wound Care Devices

In term of end-user, the market is segmented into hospitals, clinics, homecare settings, and others. The hospitals segment is expected to dominate the market during the forecast period. The dominance of this segment would occur due to the higher adoption of these devices in large and mid-sized hospitals.

Besides, the home care settings segment is anticipated to register a higher CAGR during the forecast period. The growth is because of several initiatives taken by the market players to offer portable devices with rental schemes. It is further boosting the adoption of wound care devices in home care settings.

REGIONAL INSIGHTS

The market size in North America stood at USD 0.87 billion in 2019. The dominance of this region is attributed to the higher demand for wound care devices from the large patient population in the U.S combined with the presence of adequate reimbursement policies.

The market in Europe is expected to grow at a significant CAGR during the forecast period owing to the increasing number of patients suffering from wounds and introduction of advanced devices by market players in this region. For instance, in February 2018, Smith & Nephew announced the launch of PICO7 in the European market.

The market in Asia Pacific is anticipated to register higher CAGR due to the growing awareness among the general population about wound care, coupled with the increasing healthcare expenditure. Latin America & the Middle East & Africa are expected to project a comparatively moderate CAGR during the forecast period. The limited penetration of wound care devices, combined with higher preference for low-cost wound dressings among healthcare providers and patients, is limiting the demand for devices in these regions.

KEY INDUSTRY PLAYERS

Leading Players are Focusing on Enhancing Portfolio & Innovating their Products

The current market scenario is consolidated with major players such as Smith & Nephew, DeRoyal Industries, Inc., and 3M accounting for the maximum share of the market in 2019. Diverse product offerings combined with their constant focus on innovating wound healing devices are primarily attributed for the dominance of these players in the global wound management devices market.

For instance, in January 2020, Smith & Nephew announced the positive results for the clinical trial that evaluated the efficacy of PICO single use NPWT system in reducing wound area depth and volume in comparison with the traditional NPWT system in patients with lower extremity ulcers. However, the other key players operating in the market are Cardinal Health, Talley Group Ltd, ConvaTec Inc., Devon Medical Products, BSN medical, and Medela AG.

LIST OF KEY COMPANIES PROFILED:

• Smith & Nephew (London, U.K.)


• 3M (Minnesota, U.S)


• Cardinal Health (Dublin, Ohio)


• Talley Group Ltd (Romsey, U.K)


• ConvaTec Inc. (England, U.K.)


• DeRoyal Industries, Inc. (Powell, U.S)


• Devon Medical Products (King of Prussia, U.S)


• BSN medical (Hamburg, Germany)


• Medela AG (Baar, Switzerland)


• Other Players

KEY INDUSTRY DEVELOPMENTS:

• October 2019 – 3M acquired Acelity, Inc. and its subsidiaries with an aim to strengthen its position in the wound care and specialty surgical products market.


• October 2018 – ConvaTec Inc. received the U.S FDA approval for AVELLE. The product is a negative pressure wound therapy system equipped with the benefits of hydrofibre technology.

REPORT COVERAGE

The wound care devices market report provides a detailed analysis and Industry forecast and focuses on key aspects such as leading companies, product types, and leading indications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over the recent years.

Report Scope and Segmentation