Chronic Wound Care Market to Record 6.8% CAGR from 2024 to 2032. Innovative Meshed Solution Streamlines Surgical Process and Supports Optimal Wound Recovery Propelling Market Growth

The global chronic wound care market size was valued at USD 13.29 billion in 2023. The market is projected to grow from USD 14.17 billion in 2024 to USD 24.03 billion by 2032, exhibiting a CAGR of 6.8% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Chronic Wound Care Market Size, Share & COVID-19 Impact Analysis, By Type (Diabetic Ulcers, Pressure Ulcers, Venous Leg Ulcers, and Others), By Product (Advanced Wound Dressings, Wound Care Devices, Active Therapy, and Others), By End User (Hospitals & Wound Clinics and Homecare Settings & Others), and Regional Forecast, 2024-2032”.

Chronic wounds, characterized by symptoms, such as loss of skin or tissue and prolonged healing time, necessitate intensive medical intervention and specialized wound care products. Approximately 6.7 million individuals globally are affected by chronic wounds, highlighting the significant need for effective treatment and management as per reports by the Mission Regional Medical Center.

Pandemic Plunged Market with Low Patient Visits and Disrupted Supply Chain

The COVID-19 pandemic had a detrimental impact on the medical device industry, including chronic wound care segments, as non-essential procedures and healthcare services were reduced. Temporary closures of hospitals and clinics resulted in a decrease in patient visits for wound care. The disrupted supply chain and the need for professional assistance further affected the demand for wound products. Major players such as Smith & Nephew also experienced a decline in revenue from wound care products, such as a 5.1% decrease in their advanced wound management segment in 2020 compared to 2019.

Advanced Oxygen Therapy Inc. Receives NMPA Approval for Innovative Diabetic Ulcer Treatment

Advanced Oxygen Therapy Inc. achieved approval from the Chinese National Medical Products Administration (NMPA) for its product "cyclically pressurized Topical Wound Oxygen (TWO2) therapy" in March 2022. This therapy is specifically designed for the treatment of diabetic ulcers in patients.

Innovative Foam Dressings and R&D Investments Drive Growth in Market

Market players' investments in research and development, coupled with the introduction of innovative wound healing products, such as foam dressings, are projected to drive the uptake of advanced chronic wound care products, particularly for the effective treatment of conditions such as diabetic foot ulcers. As an example, in October 2021, Healthium Medtech Limited launched TRUSHIELD NXT, a surgical wound dressing featuring patented infection prevention technology and a 3D hydrocellular substrate, aimed at enhancing wound healing outcomes.

However, lack of comprehensive reimbursement policies and inadequate healthcare infrastructure may stifle the chronic wound care market growth.

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https://www.fortunebusinessinsights.com/industry-reports/chronic-wound-care-market-100222

Key Players Establish Strong Market Presence through Robust Product Offerings and Acquisitions

The market for chronic wound care is characterized by a consolidated market structure, with major players holding a dominant position. The key factors contributing to their dominance include a robust product portfolio catering to both chronic and acute wounds as well as an extensive distribution network. Furthermore, these players focus on strategic expansion by acquiring domestic companies, enabling them to establish a strong presence in the global market and enhance their product offerings.

Notable Industry Development

• September 2021 - Tissue Regenix announced the launch of DermaPure Meshed with a view to decrease the time consumed for manual meshing during a surgery and offer a greater surface area for effective wound healing.

List of Companies Profiled in the Report:

• Smith & Nephew (U.K.)


• Mölnlycke Health Care AB (Sweden)


• 3M (U.S.)


• ConvaTec Group PLC (U.K.)


• Tissue Regenix (U.S.)


• B. Braun Melsungen AG (Germany)


• Integra LifeSciences Corporation (U.S.)


• Coloplast Corp (Denmark)


• Cardinal Health (U.S.)


• MiMedx (U.S.)

Further Report Findings:

• North America exhibited a substantial market size of USD 4.98 billion in 2023, attributed to the presence of a large patient population with chronic wounds and a strong demand for wound dressings, positioning the region as a dominant player in the wound care industry.


• In Europe the chronic wound care market share is expected to experience noteworthy growth, propelled by the increasing number of patients with chronic wounds and a higher expenditure on the treatment of different types of ulcers, indicating favorable market prospects for the region.

Table of Segmentation