"Designing Growth Strategies is in our DNA"
The global wound care market size was valued at USD 20.95 billion in 2024. The market is projected to grow from USD 22.37 billion in 2025 to USD 35.86 billion by 2032, exhibiting a CAGR of 7.0% during the forecast period.
Wound care is a comprehensive process that involves the assessment, treatment, and management of injuries to promote healing and prevent complications such as infections. The market growth is anticipated to be propelled by the growing burden of patients with chronic and acute wounds, thereby boosting the demand for wound care products in the forthcoming years. Moreover, the global market is fragmented, with several established players operating in the wound care industry, which include 3M, Smith + Nephew, ConvaTec Inc., and others. These key players are implementing various growth strategies to expand their market share and support market expansion.
Additionally, the governments and private and non-profit organizations of emerging countries are constantly focusing on various awareness programs to increase awareness of advanced wound care products and treatment options for chronic and advanced wounds. For instance, in June 2023, The Wound Care Center at HSHS St. Francis Hospital initiated a program during Wound Care Awareness Month to increase awareness regarding the risks of chronic wounds. Such factors, along with favorable reimbursement policies in developed countries, are propelling the adoption rate of wound care products, thereby boosting the market growth in the coming years.
Increasing Incidence of Chronic and Acute Wounds to Boost Demand for Treatment Solutions
The growing prevalence of chronic and acute wounds, such as diabetic ulcers, pressure ulcers, surgical wounds, and burn wounds, is significantly leading to a high burden on healthcare systems globally. This is propelling the number of patients seeking treatment for wound healing, which is anticipated to drive the demand for wound care products in the coming years.
Moreover, the growing occurrence of acute wounds, including surgical wounds and burns globally, is projected to surge the demand for various wound care products such as hydrogel dressings.
Furthermore, these chronic and acute wounds may impose a substantial economic burden on healthcare systems worldwide. For instance, the National Health Services (NHS) in the U.K. reported an expenditure of approximately USD 11.4 billion each year on wound management. As a result, there is an increasing need for effective wound care treatments, particularly in emerging countries where patient populations are expanding. Moreover, the rising prevalence of diabetes is also anticipated to increase the burden of chronic wounds such as diabetic foot ulcers (DFU). This scenario is expected to fuel the market growth significantly throughout the forecast period.
High Treatment Costs and Extended Recovery Period May Hinder Wound Care Adoption
The global market faces significant limitations in growth primarily due to the high costs associated with advanced treatment options and the extended recovery times required. These factors may lead to a substantial economic burden for both patients and healthcare systems in both developed and developing countries.
Such increasing costs of wound care treatments may limit their adoption in countries with low budgets. Additionally, inadequate reimbursement policies, particularly in emerging markets, may limit the adoption of innovative bioactive wound care devices. The financial burden placed on patients due to out-of-pocket expenses for wound care products and limited coverage for advanced treatments is further expected to hinder the global market growth in the coming years.
Recent Product Approvals and Strong Pipeline to Augment Market Growth
Prominent companies are largely focused on investing in the research and development of advanced bioactive products for hard-to-heal wounds. Several candidates are in the end stage of development, which is expected to launch sooner and boost market expansion. Prominent companies are continuously launching new products, coupled with significant innovations, to contribute to the rising demand for wound care products.
Moreover, to foster innovation in wound care for patients with hard-to-heal wounds, several key players are signing strategic partnerships and acquisitions, thereby increasing their product presence worldwide.
Such factors contributing to the high penetration of wound care products are projected to boost the market expansion in the near future.
Limited Access in Low-Income Regions to Restrict Market Growth
In many developing countries, inadequate healthcare infrastructure and limited access to advanced medical technologies restrict the availability of effective wound care solutions. Patients in these areas often rely on less effective traditional treatments due to economic constraints. Moreover, despite advancements in wound care technologies, infection management remains a critical challenge. Chronic wounds are particularly susceptible to infections, which can complicate treatment and prolong healing times. This ongoing risk may necessitate continuous innovation in infection control measures within wound care products.
Moreover, there are several cases of delayed diagnosis of chronic wounds due to several factors, such as delayed referrals of patients with chronic wounds and the limited expertise among physicians to identify diabetic foot ulcers and neuropathic ulcers, particularly in the emergency departments.
These delays highlighted critical gaps in timely care for individuals suffering from these serious conditions. Such a combination of factors may pose a significant challenge to market growth during the forecast period.
Dearth of Skilled Professionals and Stringent Regulatory Scenario to Curtail Growth Prospects
Certain other contributive factors that may restrict the market growth are the lack of presence of trained healthcare professionals and the longer timelines needed to launch products. Proper wound management requires specialized training, and a shortage of skilled healthcare professionals can hinder effective treatment. Furthermore, the navigation of the complex regulatory landscape for product approvals can delay the introduction of innovative wound care solutions.
Increasing Application of Regenerative Products, such as Bioactive Therapies for Late-Stage Wounds
Bioactive therapies, including skin substitutes and growth factors, are gaining huge popularity among healthcare professionals, especially in the treatment of late-stage wounds. Several players are currently entering the market by focusing on allograft, xenograft, nanofiber, dermal substitutes, and cell-based therapies to cater to the growing demand for urgent and effective wound management therapies among patients.
Also, technological advancements in bioactive therapies have resulted in a reduction in the overall duration and cost of treatment, which has been able to attract the patient population. This factor presents a huge growth opportunity for new entrants and established players to focus on this segment. It has prompted them to launch new bioactive therapies to fulfill the growing demand for them in the global market. Hence, these have emerged as key global wound care market trends.
Request a Free sample to learn more about this report.
The market witnessed negative growth in 2020 due to the COVID-19 pandemic. This was mainly due to the disruptions in care continuity and outcomes of chronic wounds in that period. Moreover, the temporary closure of hospitals, supply chain disruptions, and lockdown restrictions also significantly led to decreased utilization of wound care products, which declined the market growth in 2020.
However, in 2021, the market regained its momentum due to the relaxation of lockdown restrictions, decreased COVID-19 cases, and a surge in revenues of key players due to increasing sales of wound care products. Moreover, the increasing number of patient appointments for chronic wound treatments also allowed the market to recover in 2022 and 2023, with a projection of sustained growth throughout the forecast period.
Advanced Wound Dressings Segment Expected to Dominate Market Due to High Demand
Based on type, the market is segmented into advanced wound dressings, traditional wound care products, negative pressure wound therapy, bioactives, and others. Advanced wound dressings further can be sub-segmented into antimicrobial dressings, alginate dressings, foam dressings, hydrocolloid dressings, and others. On the other hand, the bioactives consist of biological skin equivalents, growth factors, and others.
The advanced wound dressings segment held a dominating global wound care market share in 2024, owing to higher demand and adoption of foam dressings, antimicrobial dressings, and alginate dressings. The rising prevalence of chronic wounds, increasing number of surgical procedures, and various benefits associated with advanced wound dressing when compared to traditional dressings are the factors predominantly driving the segment growth. Additionally, increasing product launches in this segment will also support the demand for advanced wound dressings, propelling the segment's growth. For instance, in October 2022, Theruptor Novo, a new wound dressing portfolio, was launched by Healthium Medtech. These products can be used for the management of chronic wounds, such as leg ulcers.
The bioactives segment is expected to register the highest CAGR, owing to the increasing application of tissue-engineered products derived from artificial or natural sources to treat slow-healing wounds.
The negative pressure wound therapy (NPWT) segment is expected to record a moderate CAGR due to the introduction of technologically advanced NPWT devices by market players, which may increase product availability in the market.
The traditional products and others segments are expected to register a comparatively significant CAGR during the forecast period owing to the increasing shift of healthcare professionals and patients toward advanced products.
Increasing Prevalence DFU and Pressure Ulcers to Boost Chronic Wound Segment Growth During Forecast Period
Based on application, the market is segmented into chronic wounds and acute wounds. The chronic wound segment can be further divided into diabetic ulcers, pressure ulcers, leg ulcers, and others. On the other hand, acute wounds consist of surgical wounds and others.
The chronic wounds segment held a dominating share of the market in 2024. This dominance is attributed to a rise in the percentage of the patient population suffering from diabetic foot ulcers and pressure ulcers, along with increasing expenditure on treating these conditions.
The acute wounds segment is projected to expand at a significant CAGR during the forecast period of 2025-2032 due to the increasing number of surgeries and burn cases contributing to the high occurrence of acute wounds. This is expected to increase the adoption of wound care products, thereby fueling the segment's growth in the forthcoming years.
The acute wounds segment is expected to register a significant CAGR during the forecast period due to increasing number of surgeries. This has resulted in a higher incidence of surgical wounds and the launch of advanced products by market players for acute wounds.
To know how our report can help streamline your business, Speak to Analyst
Hospitals to Dominate Due to Higher Number of Hospitals with Dedicated Facilities for Wound Management
Based on end-user, the market is segmented into hospitals, clinics, homecare settings, and others.
The hospitals segment held a dominating share in 2024 due to an increase in the number of multispecialty hospitals with departments dedicated to wound management, especially in emerging countries.
The homecare settings segment is expected to register a higher CAGR during the forecast period. This is due to the increasing incidence of chronic wounds among the geriatric population and the rising shift of patients toward home care treatments. Moreover, the key players' increasing product launches of suitable products for homecare usage are also expected to boost segmental growth.
The clinics and others segments are anticipated to display a significant CAGR due to increasing investments by public and private players in small and medium-sized clinics. The presence of long-term care centers is also growing across the world to improve healthcare infrastructure, further augmenting the segment's growth.
North America Wound Care Market Size, 2024 (USD billion)
To get more information on the regional analysis of this market, Request a Free sample
The North America wound care market size stood at USD 7.96 billion in 2024. The strong presence of key players in the region, the large patient population suffering from chronic & acute wounds, and the higher per capita healthcare expenditure are some of the major factors responsible for the region's dominance in the market.
In the U.S., strategic initiatives by prominent companies to launch novel products and enhance their customer reach are expected to fuel the country's market growth. For instance, in December 2023, Laviour launched its diabetic hydrogel wound dressing and diabetic first aid gel, both made from plant-based ingredients, at Walmart locations throughout the U.S.
Moreover, in Canada, the rising awareness programs and increasing collaborations for the introduction of advanced treatments of acute and chronic wounds are anticipated to boost the country's market growth.
To know how our report can help streamline your business, Speak to Analyst
The market in Europe is expected to register a substantial CAGR due to a well-established healthcare infrastructure in the U.K. and Germany and an increase in the adoption of innovative products in these countries. Moreover, the initiatives by key players, such as the opening of new sales offices, are projected to augment the wound care market revenue, expanding their offerings in the region.
Asia Pacific is expected to showcase the highest CAGR due to the increasing incidence of diabetes-related comorbidities, such as diabetic foot ulcers, in the region. The region's growth can be attributed to the higher patient pool for chronic wounds and increasing research activities being carried out in the region. Moreover, the growing aging population in the region is also contributing to the rising prevalence of chronic wounds, such as diabetic foot ulcers, propelling the regional market growth.
The Latin American market is expected to grow at a significant CAGR during the forecast period due to the increasing healthcare expenditure in key countries such as Brazil. Furthermore, studies representing the cost-effectiveness of wound care devices and dressings in the region are also driving product adoption, thereby expected to boost the regional market growth.
Middle East & Africa is anticipated to register a noteworthy CAGR during the forecast period. The growth of the region is primarily attributed to the increasing burden of chronic wounds and rising awareness of its treatment, which is expected to boost the adoption of various traditional and advanced wound care solutions.
Wide Operating Network and Focus on Inorganic Strategies Led to Dominance of 3M, Smith & Nephew, ConvaTec Group PLC, and Mölnlycke Health Care AB in 2024
The competitive landscape of the global wound care market is fragmented, with a few established players dominating the advanced wound dressings segment. The global market was dominated by 3M, Smith & Nephew, ConvaTec Group PLC, and Mölnlycke Health Care AB in 2024. The introduction of innovative treatment options for wounds, a rise in product launches, and expansion of sales channels are key strategies adopted by leading players to maintain their dominant position in the market.
Also, a strong focus on strategic development to increase product portfolio and awareness among the physician and patient population is expected to provide a strong foothold to the players in the market.
The other key market players operating in the market are Cardinal Health, Johnson & Johnson Services, Inc., Coloplast Corp, PAUL HARTMANN AG, Integra LifeSciences Corporation, and BSN Medical.
LIST OF KEY COMPANIES PROFILED:
To gain extensive insights into the market, Request for Customization
The research report provides a detailed analysis of the market and focuses on key aspects, such as leading companies, competitive landscape, products, applications, and end-user. Besides this, it offers insights into the latest market trends and highlights key industry developments. In addition to the factors mentioned above, it encompasses several factors that have contributed to the growth of the market in recent years.
ATTRIBUTE |
DETAILS |
Study Period |
2019-2032 |
Base Year |
2024 |
Forecast Period |
2025-2032 |
Historical Period |
2019-2023 |
Growth Rate |
CAGR of 7.0% from 2025-2032 |
Unit |
Value (USD billion) |
Segmentation |
By Type, By Application, By End-user, and By Region |
By Type |
|
By Application |
|
By End-user |
|
By Region |
|
Fortune Business Insights says that the global market value stood at USD 20.95 billion in 2024 and is projected to record a valuation of USD 35.86 billion by 2032.
In 2024, the market value stood at USD 20.95 billion.
The market will exhibit a steady CAGR of 7.0% during the forecast period.
By type, the advanced wound dressing segment will lead the market during the forecast period.
The rising prevalence of chronic and acute wounds across the globe, the increasing burden of the geriatric population, the rising incidence of various disorders, and the launch of technologically advanced products are driving the market.
3M, Smith & Nephew, ConvaTec Group PLC, and Mölnlycke Health Care AB are the major players in the market.
Related Reports
US +1 833 909 2966 ( Toll Free )