Product Code: MD 2611
"Wound care market to register a CAGR of 4.6% from 2019 to 2024"
The global wound care market is projected to reach USD 24.8 billion by 2024 from USD 19.8 billion in 2019, growing at a CAGR of 4.6% from 2019 to 2024. The growth of the industry is driven primarily by factors such as rising incidences of road accidents & injuries, growing use of regenerative medicine, and increasing prevalence of conditions that impair wound healing capabilities. Increasing research in the field of advanced wound care and the growing popularity of active wound care products will further provide opportunities in the wound care industry. Developing economies are expected to offer a wide range of growth opportunities for players in the market.
"Advanced wound care products accounted for a significant share of the market in 2019"
Based on the product, the wound care market is segmented into advanced wound care, surgical wound care, and traditional wound care products. Advanced wound care products are anticipated to be the fastest-growing segment due to the rising incidence of hard-to-heal wounds and their growing adoption (due to their high efficacy).
"Diabetic foot ulcers segment accounted for the largest share of the wound care market in 2019"
Based on wound type, the wound care market is segmented into diabetic foot ulcers, pressure ulcers, surgical & traumatic wounds, venous leg ulcers, burns, and other wounds. Of these, the diabetic foot ulcers segment is expected to account for the largest share of the wound care market due to increased emphasis on aggressive management to prevent diabetic foot ulceration and foot amputation, using advanced and active wound care products.
"Home settings segment accounted for the highest CAGR of the wound care market in 2019"
Based on end-user, the wound care market is categorized into hospitals & clinics, long-term care facilities, and home care settings. Of all these end-user segments, home settings will grow at the fastest CAGR in the wound care market in 2019. The high growth of the home care settings segment is attributed to the growing incidence of chronic diseases and the rising need for comfortable and convenient care services among the rapidly growing geriatric population worldwide.
"North America dominated the wound care market in 2019"
North America, which includes the US, and Canada, accounted for the largest share of the wound care market. The rising incidence of diabetes, growing geriatric population, the presence of major manufacturers in the region, and easy access & rapid adoption of advanced products and technologies are driving the growth of this region
Breakdown of supply-side primary interviews, by company type, designation, and region:
- By Company Type: Tier 1 (20%) , Tier 2 (45%), and Tier 3 (35%)
- By Designation: C-level (30%), Director-level (20%), and Others (50%)
- By Region: North America (35%), Europe (24%), Asia Pacific (25%), and RoW (16%)
The key players operating in this market include: Smith & Nephew plc (UK), Acelity L.P. Inc. (US), Molnlycke Health Care AB (Subsidiary of Investor AB) (Sweden), Ethicon, Inc. (A Subsidiary of Johnson & Johnson ) (US), Convatec Group Plc (UK), Baxter International Inc. (US), Coloplast A/S (Denmark), Paul Hartmann AG (Germany), Medtronic plc (Ireland), 3M Company (US), Integra LifeSciences Holding Corporation (US), Mimedx Group (US), Lohmann & Rauscher International GmbH & Co. KG (Germany), DeRoyal Industries, Inc. (US), Organogenesis Holdings Inc. (US), Kerecis (Iceland), ACell (US), IonMed (Israel), Talley Group Ltd (UK), Medela AG (Switzerland).Product launches, expansions, agreements, and acquisitions are the key growth strategies followed by most players in this market.
Research Coverage:
This report studies the wound care market based on the product, wound type, end-user, and region. The report also analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micro-markets with respect to their growth trends, prospects, and contributions to the total wound care market. The report forecasts the revenue of the market segments with respect to four major regions.
Reasons to Buy the Report:
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the wound care products offered by the key 20 players in the wound care market. The report analyzes the wound care market by product, wound type, end-user, and region.
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various wound care products, their adoption, type of applications across key geographic regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the wound care market
- Competitive Assessment: In-depth assessment of market shares and strategies of the leading players in the wound care market along with a competitive leadership mapping of up to 25 players in the market and 15 Start-Ups in the market.
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 OBJECTIVES OF THE STUDY
- 1.2 MARKET DEFINITION
- 1.3 MARKET SCOPE
- 1.3.1 MARKETS COVERED
- 1.3.2 YEARS CONSIDERED FOR THE STUDY
- 1.4 CURRENCY
- 1.5 LIMITATIONS
- 1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- 2.2 SECONDARY DATA
- 2.3 PRIMARY SOURCES
- 2.4 MARKET SIZE ESTIMATION
- 2.4.1 BOTTOM-UP APPROACH
- 2.4.2 TOP-DOWN APPROACH
- 2.4.3 GROWTH FORECAST
- 2.5 MARKET BREAKDOWN & DATA TRIANGULATION
- 2.6 MARKET SHARE ESTIMATION
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 WOUND CARE MARKET OVERVIEW
- 4.2 NORTH AMERICA: WOUND CARE MARKET, BY END USER (2018)
- 4.3 WOUND CARE MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES
5 MARKET OVERVIEW
- 5.1 INTRODUCTION
- 5.2 MARKET DYNAMICS
- 5.2.1 DRIVERS
- 5.2.1.1 Growing prevalence of diseases and conditions affecting wound healing capabilities
- 5.2.1.2 Increasing funding for wound care research
- 5.2.1.3 Road accidents and trauma injuries
- 5.2.1.4 Rising use of regenerative medicine in wound management
- 5.2.2 MARKET RESTRAINTS
- 5.2.2.1 High cost of advanced wound care products
- 5.2.2.2 Risks associated with wound care products
- 5.2.3 MARKET OPPORTUNITIES
- 5.2.3.1 AI in wound management
- 5.2.3.2 Increasing research in the field of advanced wound care
- 5.2.3.3 Potential applications of stem cell therapy in wound care
- 5.2.3.4 Emerging economies
- 5.2.4 MARKET TRENDS
- 5.2.4.1 Increasing number of acquisitions
- 5.2.4.2 Focus on expanding capabilities of current technologies and products
- 5.2.4.2.1 Crab shell bandages
- 5.2.4.2.2 Keratin-based wound management
- 5.2.4.2.3 Pharmacological therapies
- 5.2.4.2.4 Smart bandages
- 5.3 REGULATORY PATHWAYS FOR WOUND CARE PRODUCTS
6 WOUND CARE MARKET, BY PRODUCT
- 6.1 INTRODUCTION
- 6.2 ADVANCED WOUND CARE PRODUCTS
- 6.2.1 ADVANCED WOUND DRESSINGS
- 6.2.1.1 Foam dressings
- 6.2.1.1.1 Foam dressings are extensively used for a large variety of wounds-a major factor contributing to the large share of this market
- 6.2.1.1.2 Silicone dressings
- 6.2.1.1.3 Non-silicone dressings
- 6.2.1.2 Hydrocolloid dressings
- 6.2.1.2.1 Hydrocolloid dressings can be left on the wound for longer durations, which makes them cost-effective-a key factor driving the uptake of these products
- 6.2.1.3 Film dressings
- 6.2.1.3.1 Due to their non-absorbable nature, film dressings are not used for treating exuding wounds, which could limit adoption to a certain extent
- 6.2.1.4 Alginate dressings
- 6.2.1.4.1 Alginate dressings are well-suited for pressure and diabetic foot ulcers
- 6.2.1.5 Hydrogel dressings
- 6.2.1.5.1 Hydrogel dressings are available in several forms for effective use
- 6.2.1.6 Antimicrobial dressings
- 6.2.1.6.1 High effectiveness in microbe removal has driven product demand
- 6.2.1.7 Collagen dressings
- 6.2.1.7.1 Favorable reimbursement scenario for collagen dressings has greatly boosted their use
- 6.2.1.8 Hydrofiber dressings
- 6.2.1.8.1 Hydrofiber dressings combine the properties of hydrocolloids and alginates
- 6.2.1.9 Wound contact layers
- 6.2.1.9.1 Wound contact layers protect wound beds from bacterial and fungal growth
- 6.2.1.10 Superabsorbent dressings
- 6.2.1.10.1 Superabsorbent dressings are used where adhesive dressings may cause damage
- 6.2.2 WOUND THERAPY DEVICES
- 6.2.2.1 Pressure relief devices
- 6.2.2.1.1 High device costs and lack of reimbursement may hamper market growth
- 6.2.2.2 Wound assessment & monitoring devices
- 6.2.2.2.1 Potential cost-reducing capabilities of wound assessment and monitoring devices will boost their adoption
- 6.2.2.3 Negative pressure wound therapy systems
- 6.2.2.3.1 Conventional NPWT systems
- 6.2.2.3.1.1 High effectiveness in managing highly exuding wounds has driven the demand for conventional NPWT systems
- 6.2.2.3.2 Disposable NPWT systems
- 6.2.2.3.2.1 Disposable NPWT systems are difficult to handle when treating large wounds and have greater negative pressure requirements, which could limit their adoption to a certain extent
- 6.2.2.3.3 Accessories
- 6.2.2.4 Oxygen & hyperbaric oxygen equipment
- 6.2.2.4.1 Although hyperbaric oxygen treatment helps in rapid healing, there are absolute contraindications for this therapy in patients with untreated pneumothorax, which could limit adoption
- 6.2.2.5 Other wound therapy devices
- 6.2.3 ACTIVE WOUND CARE PRODUCTS
- 6.2.3.1 Biological skin substitutes
- 6.2.3.1.1 Human donor tissue-derived products
- 6.2.3.1.1.1 Low rejection rate and high efficacy have boosted the adoption of tissue-derived products
- 6.2.3.1.2 Acellular animal-derived products
- 6.2.3.1.2.1 Some acellular xenografts have a high rejection rate, which may affect market growth
- 6.2.3.1.3 Biosynthetic products
- 6.2.3.1.3.1 Biosynthetic products leave no residue and are cost-effective, which contribute to the high adoption of these products
- 6.2.3.2 Topical agents
- 6.2.3.2.1 Formulation difficulties, the high cost of clinical trials with greater chances of failure, and the high cost of the final product are limiting factors for topical agents such as growth factors
- 6.3 SURGICAL WOUND CARE PRODUCTS
- 6.3.1 SUTURES
- 6.3.1.1 Increasing number of surgical procedures and the high tensile strength afforded by sutures are key factors driving product adoption
- 6.3.2 STAPLERS
- 6.3.2.1 Staplers are considered to be more accurate than suturing and less likely to allow leakage, resulting in higher product adoption
- 6.3.3 TISSUE ADHESIVES, SEALANTS, & GLUES
- 6.3.3.1 Fibrin-based sealants
- 6.3.3.1.1 Fibrin-based sealants provide better results than sutures, which has driven product demand
- 6.3.3.2 Collagen-based sealants
- 6.3.3.2.1 Collagen-based products are used in surgical procedures as an adjunctive to hemostatic agents and are used when bleeding cannot be controlled effectively through conventional methods
- 6.3.3.3 Synthetic adhesives
- 6.3.3.3.1 Advantage of using synthetic tissue adhesives over traditional staples is that synthetics have additional sealing properties as compared to traditional staples
- 6.3.4 ANTI-INFECTIVE DRESSINGS
- 6.3.4.1 Need to prevent hospital-associated infections has driven demand in this market
- 6.4 TRADITIONAL WOUND CARE PRODUCTS
- 6.4.1 MEDICAL TAPES
- 6.4.1.1 Latex-free tapes are gentle to the skin and hypoallergenic for sensitive patients-key advantages leading to high adoption of these products
- 6.4.2 DRESSINGS
- 6.4.2.1 Presence of a large patient population for pressure ulcers (in which dry dressings are extensively used) has ensured a sustained demand for these products
- 6.4.3 CLEANSING AGENTS
- 6.4.3.1 High risk of HAIs from open wounds will drive the market for cleansing agents
7 WOUND CARE MARKET, BY WOUND TYPE
- 7.1 INTRODUCTION
- 7.2 DIABETIC FOOT ULCERS
- 7.2.1 INCREASED EMPHASIS ON AGGRESSIVE WOUND MANAGEMENT TO PREVENT DIABETIC FOOT ULCERATION AND FOOT AMPUTATION TO DRIVE GROWTH IN THIS MARKET SEGMENT
- 7.3 PRESSURE ULCERS
- 7.3.1 HIGH SUSCEPTIBILITY TO PRESSURE ULCERS HAS MADE GERIATRICS KEY CONSUMERS OF WOUND CARE PRODUCTS
- 7.4 SURGICAL & TRAUMATIC WOUNDS
- 7.4.1 GROWING NUMBER OF SURGICAL PROCEDURES IS A MAJOR FACTOR DRIVING THE DEMAND FOR WOUND CARE PRODUCTS IN SURGICAL WOUND APPLICATIONS
- 7.5 VENOUS LEG ULCERS
- 7.5.1 INCIDENCE OF LEG ULCERS IS INCREASING DUE TO THE GROWING GERIATRIC POPULATION AND INCREASING RISK FACTORS FOR ATHEROSCLEROTIC OCCLUSION
- 7.6 BURNS
- 7.6.1 THE INCIDENCE OF BURN INJURIES IS HIGH IN THE US, AND A LARGE VOLUME OF WOUND CARE PRODUCTS IS CONSUMED FOR THEIR TREATMENT-A MAJOR MARKET DRIVER
- 7.7 OTHER WOUNDS
8 WOUND CARE MARKET, BY END USER
- 8.1 INTRODUCTION
- 8.2 HOSPITALS & CLINICS
- 8.2.1 INPATIENT SETTINGS
- 8.2.1.1 Increasing hospital admissions due to chronic wounds and the rising incidence of hospital-acquired pressure ulcers are key drivers for the growth of this end-user segment
- 8.2.2 OUTPATIENT SETTINGS
- 8.2.2.1 Increasing costs of inpatient care have shifted attention toward outpatient settings
- 8.3 LONG-TERM CARE FACILITIES
- 8.3.1 GROWTH IN THE GERIATRIC AND VULNERABLE POPULATIONS ARE DRIVING THE DEMAND FOR BETTER LONG-TERM CARE
- 8.4 HOME CARE SETTINGS
- 8.4.1 DECREASED COSTS AND HIGHER CONVENIENCE AND COMFORT OF HOME CARE WILL ENSURE MARKET GROWTH IN THIS SEGMENT
9 WOUND CARE MARKET, BY REGION
- 9.1 INTRODUCTION
- 9.2 NORTH AMERICA
- 9.2.1 US
- 9.2.1.1 Rising incidence of chronic diseases and diabeties is a major driver for the growth of wound care market in the US
- 9.2.2 CANADA
- 9.2.2.1 Rising prevelance of diabeties to drive the growth of wound care market in Canada
- 9.3 EUROPE
- 9.3.1 GERMANY
- 9.3.1.1 Large diabetic population has supported product development and commercialization efforts in Germany
- 9.3.2 UK
- 9.3.2.1 Rising incidence of chronic wounds and growing R&D focus have supported market growth in the UK
- 9.3.3 FRANCE
- 9.3.3.1 Players in this market are focusing on enhancing their product portfolios and presence in France
- 9.3.4 ITALY
- 9.3.4.1 Unfavorable reimbursement scenario for advanced wound care will hinder market growth in Italy
- 9.3.5 SPAIN
- 9.3.5.1 Increasing life expectancies and the growing geriatric population will favor product demand in Spain
- 9.3.6 RUSSIA
- 9.3.6.1 Government focus on increasing diabetes awareness will favor market growth in Russia
- 9.3.7 REST OF EUROPE
- 9.4 ASIA PACIFIC
- 9.4.1 JAPAN
- 9.4.1.1 Favorable regulations in Japan have resulted in increased product launches and commercialization
- 9.4.2 CHINA
- 9.4.2.1 Growing focus of companies on the emerging Chinese market is a major factor supporting the growth of the wound care market in the country
- 9.4.3 INDIA
- 9.4.3.1 Investments by international firms have supported market growth in India
- 9.4.4 AUSTRALIA
- 9.4.4.1 Growing awareness of diabetes management will support market growth in Australia
- 9.4.5 SOUTH KOREA
- 9.4.5.1 Local manufacturers in South Korea are partnering with research organizations for product development
- 9.4.6 SINGAPORE
- 9.4.6.1 Growing prevalence of diabetes is a major driver for the growth of the wound care market in Singapore
- 9.4.7 REST OF ASIA PACIFIC
- 9.5 LATIN AMERICA
- 9.5.1 BRAZIL
- 9.5.1.1 Brazil is one of the largest markets for healthcare in the Latin American region
- 9.5.2 MEXICO
- 9.5.2.1 Diabetes is the second-highest cause of mortality in Mexico
- 9.5.3 REST OF LATIN AMERICA
- 9.6 MIDDLE EAST & AFRICA
- 9.6.1 WITH RISING DIABETES PREVALENCE IN THIS REGION, THE PREVALENCE OF CONDITIONS SUCH AS LEG ULCERS IS ON THE RISE, WHICH IS A POSITIVE INDICATOR FOR MARKET GROWTH
10 COMPETITIVE LANDSCAPE
- 10.1 OVERVIEW
- 10.2 MARKET SHARE ANALYSIS
- 10.2.1 NEGATIVE PRESSURE WOUND THERAPY SYSTEMS
- 10.2.2 ADVANCED WOUND DRESSINGS
- 10.2.3 ACTIVE WOUND CARE PRODUCTS
- 10.2.4 TRADITIONAL AND SURGICAL WOUND CARE PRODUCTS
- 10.2.5 SURGICAL SUTURES
- 10.3 COMPETITIVE SCENARIO
- 10.3.1 PARTNERSHIPS, AGREEMENTS, CONTRACTS, & COLLABORATIONS
- 10.3.2 PRODUCT LAUNCHES, UPGRADES, & APPROVALS
- 10.3.3 ACQUISITIONS
- 10.3.4 EXPANSIONS
- 10.4 COMPETITIVE LEADERSHIP MAPPING
- 10.4.1 VISIONARY LEADERS
- 10.4.2 INNOVATORS
- 10.4.3 DYNAMIC DIFFERENTIATORS
- 10.4.4 EMERGING COMPANIES
- 10.5 COMPETITIVE LEADERSHIP MAPPING (START-UPS)
- 10.5.1 PROGRESSIVE COMPANIES
- 10.5.2 STARTING BLOCKS
- 10.5.3 RESPONSIVE COMPANIES
- 10.5.4 DYNAMIC COMPANIES
- 10.6 MNM DIVE: VENDOR COMPARISON MATRIX FOR START-UPS
11 COMPANY PROFILES
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
- 11.1 SMITH & NEPHEW PLC
- 11.2 MOLNLYCKE HEALTH CARE AB
- 11.3 BAXTER INTERNATIONAL INC.
- 11.4 ACELITY L.P. INC.
- 11.5 INTEGRA LIFESCIENCES HOLDING CORPORATION
- 11.6 CONVATEC GROUP
- 11.7 COLOPLAST A/S
- 11.8 ETHICON INC.
- 11.9 MEDTRONIC PLC
- 11.10 3M COMPANY
- 11.11 PAUL HARTMANN AG
- 11.12 MIMEDX GROUP
- 11.13 DEROYAL INDUSTRIES
- 11.14 ORGANOGENESIS HOLDINGS INC.
- 11.15 KERECIS
- 11.16 ACELL
- 11.17 LOHMANN & RAUSCHER INTERNATIONAL GMBH & CO. KG
- 11.18 MEDELA AG
- 11.19 TALLEY GROUP
- 11.20 IONMED INC.
Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
12 APPENDIX
- 12.1 INDUSTRY INSIGHTS
- 12.2 DISCUSSION GUIDE
- 12.3 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 12.4 AVAILABLE CUSTOMIZATIONS
- 12.5 RELATED REPORTS
- 12.6 AUTHOR DETAILS
