Report Overview

According to the deep-dive market assessment by Growth Plus Reports, the global chronic wound care market was valued at US$ 12.25 billion in 2021 and is expected to register a revenue CAGR of 5.6% to reach US$ 20 billion by 2030.

Chronic Wound Care Market Fundamentals

Chronic wounds are characterized as wounds that do not heal in a timely and organized manner. Chronic wounds do not exhibit substantial healing improvement after 30 days. They are distinguished by signs, such as tissue or skin loss. Higher bacterial infection, pressure or trauma, and incorrect treatment are some of the factors that contribute to wound chronicity. Chronic wound care treatment expenses far exceed standard disease treatment as they require significant medical intervention and wound care supplies.

Wound care treats pressure sores, skin ulcers, and other skin lesions that break the skin. Wounds have a substantial influence on patient health and healthcare provider resource expenditures. Healthcare professionals generally remove dead or inflammatory tissue while treating chronic wounds; this is referred to as debridement. Tweezers, a pointed spoon-like device called a curette, or a scalpel, are used to remove the tissue. An enzyme-based gel is occasionally administered to assist in cleaning the wound. As debridement is typically painful, a topical anesthetic, such as an ointment, is used to numb the area beforehand. In case of more severe pain, patients are administered pain relievers before the treatment. Larger wounds are occasionally cleansed under general anesthesia.

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Chronic Wound Care Market Dynamics

Increasing prevalence of diabetes and pressure ulcers and rising geriatric population across the globe are driving revenue growth in the chronic wound care market. The need for wound care and healing has increased in recent years due to a rise in the number of accidents and surgical cases.

Increase in the cases of diabetes, which has a negative impact on wound healing capacity, is propelling the chronic wound care industry. According to WHO, the diabetic population has increased from 108 million to 422 million between 1980 and 2014. Furthermore, rise in the adoption of technological advancements, such as artificial intelligence and machine learning, for AI-based diagnostic and prognostic tools that can help physicians to improve wound treatment is boosting the chronic wound care space.

However, high treatment costs, delayed diagnosis, and challenging reimbursement policies in emerging countries are likely to constrain the global chronic wound care market revenue growth in the next few years.

Chronic Wound Care Market Ecosystem

The global chronic wound care market has been analyzed from four perspectives: product, type, end-user, and region.

Chronic Wound Care Market by Product

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Based on the product, the global chronic wound care market is segmented into advanced wound dressing, surgical wound care, wound therapy devices, and traditional wound care.

The advanced wound dressing segment dominated the market with the largest market revenue share in 2021. This is attributed to increase in the adoption of chronic wound care in minimally invasive surgical procedures, which have reduced recovery time and are less painful compared to other surgeries. This eventually results in the rise in the adoption of advanced wound dressing. Furthermore, technological developments in advanced wound dressing products are expected to influence the advanced wound dressing segment substantially.

Chronic Wound Care Market by Type

Based on the type, the global chronic wound care market is segmented into diabetic foot ulcers, pressure ulcers, arterial & venous ulcers, surgical & traumatic wounds, and burns.

The diabetic foot ulcers segment dominated the market and accounted for the larger market share in 2021, owing to an increase in the number of diabetes patients worldwide. Older people are more likely to develop diabetic ulcers. Patients who have had diabetes for a long period may develop neuropathy, characterized by a diminished or full inability to feel pain in the feet due to nerve damage induced by rising blood glucose levels over time. Nerve damage can often occur without pain, and the patient may be unaware of the condition, resulting in a diabetic ulcer. According to WHO, 422 million people are diabetic, and it causes around 1.5 million deaths annually. This factor is expected to fuel revenue growth in the segment during the forecast period.

Chronic Wound Care Market by End-user

Based on the end-user, the global chronic wound care market is segmented into hospitals, specialty clinics, and home care.

The hospitals segment accounted for the highest revenue share in 2021 due to the rising number of operations worldwide. Increasing surgical operations, rising frequency of accidents, and growing number of hospitals are some of the primary factors driving revenue growth in the hospital segment.

Chronic Wound Care Market by Region

Based on the region, the global chronic wound care market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.

North America led the global chronic wound care market in 2021. A significant increase in the number of surgeries, availability of excellent healthcare facilities, increase in the geriatric population, and favorable reimbursement policies are the primary factors driving the revenue growth of the chronic wound care market in North America. Furthermore, ongoing investments by large corporations and constant R&D activities by various institutes aimed at enhancing the overall treatment approach for wound healing are helping in the expansion of the chronic wound care market in this region. For instance, according to an article published in Nature Biotechnology in November 2022, Stanford University researchers created a smart bandage to aid in the healing process. The experiment was conducted on mice that were fitted with smart bandages manufactured using an incredibly thin and flexible printed circuit. A tiny, coiled antenna wirelessly pulls electricity from a nearby source, enabling the bandage to electrically stimulate wounded tissue and thus boost healing. When the mice were checked after a set amount of time, researchers discovered that certain types of immune cells involved in tissue regeneration had risen, as had the proteins essential for the healing process.

Chronic Wound Care Market Competitive Landscape

The prominent players operating in the chronic wound care market are:

• Johnson & Johnson Services, Inc.
• Smith & Nephew plc
• Coloplast Corp.
• Imbed Biosciences
• Baxter International, Inc.
• MIMEDX Group, Inc. 
• ConvaTec Group PLC
• Cardinal Health
• 3M Company
• Medline Industries, Inc.
• Essity AB
• Integra LifeSciences Corporation.
• Mölnlycke Health Care AB
• Paul Hartmann AG
• Organogenesis Inc.

Chronic Wound Care Market Strategic Developments

• In January 2023, MiMedx Group, Inc. announced a distribution agreement with Gunze Medical Limited, a subsidiary of Gunze Limited, for EPIFIX sales in Japan. Gunze Medical Limited is a leading distributor of a wide range of wound and surgical settings. Both firms are expected to continue medical education programs and increase key opinion leader ("KOL") participation in the country through this relationship.
• In January 2023, Alpha Healthcare Acquisition Corp. III announced a business combination agreement with Carmell Therapeutics Corporation, a Phase 2-stage biotechnology platform firm developing allogeneic plasma-based biomaterials for bone and soft tissue healing purposes. The move aimed at advancing the clinical development of their platform technology and gaining valuable regenerative medicine experience.

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