Wound Care Market Focused Insights 2024-2029, with Competitive Analysis of Key Vendors 3M, B. Braun, Cardinal Health, Convatec, Medtronic, Molnlycke Health Care, Smith & Nephew, Coloplast & More - ResearchAndMarkets.com

The "Wound Care Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.

The Wound Care Market was valued at USD 33.13 billion in 2023, and is expected to reach USD 46.77 billion by 2029, rising at a CAGR of 5.92%.

The global wound care market report consists of exclusive data on 60 vendors. The market is highly fragmented, and large corporations dominate it. However, there are significant growth opportunities for new entrants. Though major players dominate the market, many small companies are coming into existence with innovative products and technologies.

3M, B. Braun SE, Cardinal Health, Convatec Group, Medtronic, Molnlycke Health Care, Paul Hartmann, Smith & Nephew, Coloplast Group, and Johnson & Johnson (Ethicon) are the leading companies accounting for major market share. These vendors continuously develop and invest in the refurbishment of medical equipment development and are expected to dominate the market with continued engagement in the advancement of refurbished medical equipment.

Recent Developments in the Global Wound Care Market

• In 2024, Convatec Group Plc revealed a significant advanced wound care clinical study result (AQUACEL Ag+) Extra dressing product in venous leg ulcer management.
• In 2024, Molnlycke Health Care acquired the leading wound cleansing and moisturizing manufacturing company, P.G.F. Industry Solutions GmbH, strengthening its wound care portfolio.
• In 2024, Molnlycke Health Care announced an investment of around USD 15 million in mediWound Ltd - a next-generation enzymatic therapeutic company focused on non-surgical wound debridement.
• In 2023, Coloplast acquired Kerecis- one of the pioneering wound care companies- for up to USD 1.3 billion, which will further expand Coloplast's burn skin wound care portfolio.
• In 2022, Convatec Group Plc acquired Triad Life Sciences Inc. This acquisition transferred Triad's portfolio to Convatec's Advanced Wound Care business segment as Convatec Advanced Tissue Technologies.

MARKET TRENDS & DRIVERS

Emergence of Next-generation Smart Dressings

The development of smart bandage technology offers more potential benefits in chronic wound management and can even help in healing procedures. Instead of passive dressing, medical professionals can use wireless technology-based smart dressing to help detect inflammation, problems, or infection with blood flow and alert patients and medical professionals through Bluetooth technology while delivering real-time treatment. Smart bandages developed with various cutting-edge materials, including bioelectronic materials, can help heal by delivering electric stimulation to cells and tissues.

Recent Technology Advances in Chronic Wound Care

Recent advances in stem cells, cell & gene therapy, bioengineered allogeneic cellular therapies, and xenograft cellular matrix are revolutionizing the chronic wound care segment. Wound healing involves coordinated spatiotemporal and complex procedures in various cell types to promote proliferation, hemostasis, migration, reepithelization, extracellular matrix deposition, and remolding to restore skin integrity. Bioengineered allogeneic cellular therapies have recently become popular in chronic wound management. A recently developed StrateGraft- a viable bioengineered allogenic cellularized construct approved by the US Food & Drug Administration for thermal burns in adults containing intact dermal elements offers highly effective and rapid chronic wound healing.

The Presence of Significant Potential Patient Population

Worldwide, the incidence of chronic wounds is rapidly rising due to the increasing aging population and associated incidence of chronic diseases. Individuals who live with chronic wounds often have multiple clinical conditions that can make healing their wounds extremely complex. The Wound Asia Report 2024 reported chronic wounds are a global public health concern and significant demand for healthcare resources from healthcare systems, providers, and patients. Apart from that, complications associated with surgical wound care solutions, product recall and stringent regulations, and concern about wound care costs are some of the challenges to the market growth.

INDUSTRY RESTRAINTS

Complications Associated with Surgical Wound Care Solutions

There are several complications associated with the usage of surgical wound closure devices. For instance, surgical sealants are associated with certain limitations. Since sealants are manufactured from human plasma, they are expensive and less available compared to synthetic materials. The possibility of disease transmission associated with blood products is a major limitation, hampering the widespread application of natural surgical sealants. It is estimated that more than one million people in the United States develop serious cases of sepsis annually, and as many as half of them die. Wound dehiscence usually occurs if the wound splits open or the surgical incision breaks along the suture. It is another most common complication associated with surgical wound closure devices.

GEOGRAPHICAL INSIGHTS

The APAC region shows significant growth, with the fastest-growing CAGR of 7.46% in the global wound care market during the forecast period. In APAC, the market growth is attributed to some key reasons, such as significant growth in the aging population, associated chronic health burdens, and rising volume of surgical procedures. Meanwhile, chronic diseases such as CVD, diabetes, cancer, and chronic respiratory diseases are on the rise and account for more than 61% of deaths in the region.

Furthermore, some smart technologies, such as smart wound and bioactive dressing, are becoming more popular in the region. These factors increased the demand for advanced wound care technologies in health systems.

COMPETITIVE LANDSCAPE

Key Vendors

• 3M
• B. Braun SE
• Cardinal Health
• Convatec Group Plc
• Medtronic
• Molnlycke Health Care
• PAUL HARTMANN AG
• Smith & Nephew
• Coloplast Group
• Johnson & Johnson (Ethicon)

Other Prominent Vendors

• ACell
• AediCell
• AlloSource
• AMERX Health Care
• AOTI
• Integra LifeSciences Corporation
• Baxter
• CONMED Corporation
• Cork Medical
• CRYOLIFE
• DeRoyal Industries
• Hollister Incorporated
• Intuitive Surgical
• Medline Industries
• MiMedx
• MPM Medical
• MTF Biologics
• Organogenesis
• Synovis Micro Companies Alliance
• Axio Biosolutions
• Changzhou Haida Medical Equipment
• CryoLife (Artivion)
• Frankenman International
• GPC Medical
• Meril Life Sciences
• Orion Sutures
• Reach Surgical
• Suture India (Healthium Medtech Limited)
• Triage Meditech
• Waston Medical
• Advancis Medical
• BD
• BSN Medical - Essity Health & Medical
• BTI Biotechnology Institute
• Vivostat
• Carilex Medical
• Cohera Medical
• Covalon Technologies
• Grena
• Intuitive Surgical Operations
• Lohmann & Rauscher (L&R)
• Ocular Therapeutix
• Peters Surgical
• Purple Surgical
• URGO GROUP
• Sealantis
• Sechrist Industries
• Sonoma Pharmaceuticals
• Talley Group
• Tricol Biomedical

KEY QUESTIONS ANSWERED

• How big is the global wound care market?
• What are the key drivers of the global wound care market?
• What is the growth rate of the global wound care market?
• Who are the major players in the global wound care market?
• Which region is the fastest-growing in the global wound care market?

Key Attributes:

Key Topics Covered:

Chapter 1: Wound Care Market Overview

• Executive Summary
• Key Findings

Chapter 2: Wound Care Market Market

• Global: Projected Revenue of Wound Care Market (2020-2029; $ Billions)

Chapter 3: Wound Care Market Prospects & Opportunities

• Teleradiology Market Opportunities & Trends
• Teleradiology Market Drivers
• Teleradiology Market Constraints

Chapter 4: Wound Care Market Segmentation Data

Global: Projected Revenue by Product Type (2020-2029; $ Billions)

• Advanced Wound Care Products
• Sutures & Stapling Devices
• Traditional Wound Care Products
• Hemostats & Surgical Sealants

Global: Projected Revenue by Wound Type (2020-2029; $ Billions)

• Acute Wound
• Chronic Wound

Global: Projected Revenue by End-user (2020-2029; $ Billions)

• Hospitals & Specialty Wound Care Clinics
• Long-Term Care Facilities
• Home Healthcare
• Other End-users

Chapter 5: Key Regions Overview

North America: Projected Revenue of Wound Care Market (2020-2029; $ Billions)

• Projected Revenue of Wound Care Market in the US
• Projected Revenue of Wound Care Market in Canada

Europe: Projected Revenue of Wound Care Market (2020-2029; $ Billions)

• Projected Revenue of Wound Care Market in Germany
• Projected Revenue of Wound Care Market in France
• Projected Revenue of Wound Care Market in the UK
• Projected Revenue of Wound Care Market in Italy
• Projected Revenue of Wound Care Market in Spain

APAC: Projected Revenue of Wound Care Market (2020-2029; $ Billions)

• Projected Revenue of Wound Care Market in China
• Projected Revenue of Wound Care Market in India
• Projected Revenue of Wound Care Market in Japan
• Projected Revenue of Wound Care Market in South Korea
• Projected Revenue of Wound Care Market in Australia

Latin America: Projected Revenue of Wound Care Market (2020-2029; $ Billions)

• Projected Revenue of Wound Care Market in Brazil
• Projected Revenue of Wound Care Market in Mexico
• Projected Revenue of Wound Care Market in Argentina

Middle East & Africa: Projected Revenue of Wound Care Market (2020-2029; $ Billions)

• Projected Revenue of Wound Care Market in Turkey
• Projected Revenue of Wound Care Market in South Africa
• Projected Revenue of Wound Care Market in Saudi Arabia

Chapter 6: Wound Care Market Industry Overview

• Competitive Landscape
• Key Vendor Profiles
• Other Prominent Vendors
• Key Strategic Recommendations

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