Wound Care Market Size to Reach USD 37.08 billion by 2032; High Preference for Bioactive Therapies for Advanced Wounds to Boost Market Progress

The global wound care market size touched USD 19.63 billion in 2023 and is predicted to reach USD 20.86 billion in 2024. The market is anticipated to touch USD 37.08 billion by 2032, recording a CAGR of 7.5% over 2024-2032.

Fortune Business Insights™ displays this information in its latest report titled “Wound Care Market Size, Share & COVID-19 Impact Analysis, By Type (Advanced Wound Dressings, {Antimicrobial Dressings, Alginate Dressings, Foam Dressings, Hydrocolloid Dressings, and Others}, Traditional Wound Care Products, Negative Pressure Wound Therapy, Bioactives {Biological Skin Equivalents, Growth Factors, and Others}, and Others), By Application (Chronic Wounds {Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, and Others} and Acute Wounds {Surgical Wounds and Burns}), By End User (Hospitals, Clinics, Homecare Settings, and Others), and Regional Forecast, 2024-2032”.

The incidence of chronic wounds is growing at a distressing rate across the world, which has enhanced the demand for advanced wound care products. Governments in developing countries as well as non-profit and private companies are focusing on launching awareness programs to boost people’s understanding of innovative treatment options and products for chronic and slow-healing wounds.

Developed countries are also working on formulating favorable reimbursement policies, which is expected to boost the demand for technologically advanced wound treatment products. This will further enhance the wound care market growth.

Wound Management Exempted from List of Essential Procedures During COVID-19, which Restricted Market Growth

The COVID-19 pandemic had a negative influence on the market’s progress. In fact, many leading players in this market witnessed a major decrease in their revenue margins in 2020 during this period. In addition, during the first half of the year, governments in many leading nations used their primary healthcare resources in hospitals and clinics, such as nurses, beds, and key personnel, to treat COVID-19-positive patients. These factors compelled healthcare professionals to exempt wound management from the essential procedures list, further causing a notable decline in market growth.

High Preference for Bioactive Therapies for Advanced Wounds to Boost Market Progress

Bioactive therapies, such as growth factors and skin substitutes, are gaining tremendous traction among healthcare professionals as they play a vital role in treating advanced or late-stage wounds. Many promising companies are entering this industry by specializing in nanofiber, xenograft, cell-based therapies, and dermal substitutes to keep up with the rising demand for effective wound treatment therapies among patients.

For instance, in November 2021, Sanara MedTech Inc. announced that it had decided to commercialize the launch of its FORTIFY FLOWABLE extracellular matrix and FORTIFY TRG, a tissue repair graft. These devices will be used to treat and manage acute wounds such as chronic vascular ulcers, pressure ulcers, diabetic ulcers, venous ulcers, and many other types of ulcers effectively. Such factors will help the wound care market share grow in the future.

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https://www.fortunebusinessinsights.com/wound-care-market-103268

Competitive Landscape

The market is being dominated by leading companies, such as Smith & Nephew, 3M, Mölnlycke Health Care AB, and ConvaTec Group PLC. These organizations are focusing on introducing various futuristic treatment options for wounds and trying to expand their distribution networks to strengthen their presence in the global market. Also, the number of product launches are also rising in this industry. These strategies are expected to help the key firms maintain their dominant position in the market.

Notable Industry Development:

• June 2021 - ConvaTec Group PLC announced that it collaborated with RLS Global to distribute Chlorasolv, which is a gentle wound debrider, in the Europe market. This product was later expected to be promoted in the U.S. market and then the rest of the world.

List of the Companies Profiled in the Report:

• Smith & Nephew (U.K.)


• 3M (U.S.)


• ConvaTec Inc. (U.K.)


• Cardinal Health (U.S.)


• Coloplast A/S (Denmark)


• Mölnlycke Health Care AB (Sweden)


• Medtronic (Ireland)


• PAUL HARTMANN AG (Germany)


• Johnson & Johnson Services, Inc. (U.S.)

Further Report Findings

• North America is expected to capture a dominant position in the global market. The region is witnessing a growing presence of leading companies that specialize in wound healing solutions. Moreover, the region is noticing an alarming rise in the number of people suffering from chronic wounds, either from surgeries or disease-related complications. These aspects are predicted to boost the sales of wound treatment products to help patients enhance their overall quality of life.


• Europe is also predicted to record a notable growth rate during the forecast period as the region has a well-established healthcare infrastructure, especially in countries such as Germany and the U.K. These nations are also becoming the early adopters of innovative products that can fasten the wound healing process.


• The hospitals segment captured a leading share of the global market in 2022 as there has been a notable increase in the number of multispecialty hospitals. These hospitals have departments that specialize in wound management, particularly in developing countries. This factor is expected to boost the average patient footfall across hospitals.

Table of Segmentation