The global wound care market is anticipated to reach USD 29.57 billion by 2030, growing at a CAGR of 4.17% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing number of surgical cases, a rapidly aging population, as well as a rising number of diabetic patients, are among the major factors driving this market’s growth. For instance, according to Ageing Asia, as of 2019, more than 139 million people, i.e., about 10% of India’s total population, were over 60. This is expected to increase up to 19.5% in 2050. The geriatric population is more susceptible to wounds, and thus, increasing the number of elder populations, the wound care market is anticipated to propel during the forecast period.
The wound care market has seen significant technological advancements in recent years, leading to the development of new and innovative products for treating various types of wounds. Growth factors are naturally occurring proteins that stimulate cell growth and division. These proteins can be used in wound care to promote healing and tissue regeneration. For example, platelet-derived growth factor (PDGF) is effective in promoting the healing of chronic wounds. 3D printing technology has revolutionized the production of custom-made wound care products, such as prosthetic limbs, orthotics, and wound dressings.
In addition, many leading manufacturers are undergoing strategic initiatives such as product launches, partnerships, and geographic expansion, which may help them capitalize on the increasing demand for wound care products during the forecast period. For instance, Human Biosciences planned on launching two new wound care products in the Indian market. The launch of these products in the Indian market is expected to help the company capture the post-pandemic wound care market in India. Thus, similar initiatives by other market players are anticipated to boost the wound care market post-pandemic.
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Wound Care Market Report Highlights
- Based on product, advanced wound dressing dominated the wound care market with a share of 34.9% in 2023, owing to the advantages offered by these dressings over traditional
- Based on application, the chronic wound segment will likely dominate the wound care market with a market share of 59.9% in 2023, owing to increased diabetic foot ulcers and pressure ulcers worldwide
- Based on end-use, the hospital segment dominated the wound care market, owing to the increasing number of surgical site infections among hospital patients. On the other hand, the home healthcare segment is anticipated to witness the fastest growth in the forecast period
- Based on the mode of purchase, the prescribed segment dominated the wound care market, with a share of 62.8% in 2023
- Based on the distribution channel, the institutional sales segment dominated the market. However, the retail sales segment is anticipated to witness the fastest growth, with a CAGR of 4.6% over the forecast period
- North America dominated the wound care market with the highest revenue share of 45.5% in 2023 owing to the increasing number of surgical procedures and technological advancements
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We have segmented the global wound care market report based on product, application, end-use, mode of purchase, distribution channel, and region:
Wound Care Product Outlook
- Advanced Wound Dressing
- Surgical Wound Care
- Traditional Wound Care
- Wound Therapy Devices
Wound Care Application Outlook
- Chronic Wounds
- Acute Wounds
Wound Care End-use Outlook
- Hospitals
- Specialty Clinics
- Home Healthcare
- Physician’s Office
- Nursing Homes
- Others
Wound Care Mode of Purchase Outlook
- Prescribed
- Non-prescribed (OTC)
Wound Care Distribution Channel Outlook
- Institutional Sales
- Retail Sales
Wound Care Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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