Chronic Wound Care Market Outlook from (2023 to 2033)
The global chronic wound care market size is expected to rise at a CAGR of 3.8% during the projected period 2023 to 2033. The market value is projected to increase from US$ 17,272.4 million in 2023 to US$ 25,042.5 million by 2033. The chronic wound care market was valued at US$ 16,689.3 million in 2022 and is anticipated to exhibit a y-o-y growth of 3.5% in 2023.
Attributes
Key Insights
Chronic Wound Care Market Size (2022A)
US$ 16,689.3 million
Estimated Chronic Wound Care Market Value (2023E)
US$ 17,272.4 million
Projected Chronic Wound Care Market Value (2033F)
US$ 25,042.5 million
Value-based CAGR (2023 to 2033)
3.8%
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Chronic Wound Care Market Overview
Pharmaceutical goods and therapies, specially created for the management and treatment of chronic wounds, are set to be included in the chronic wound care pharmaceutical market. Growing cases of sports injuries, rising diabetes prevalence, and shifting lifestyles are expected to propel market expansion.
The incidence rate of chronic wounds is predicted to rise globally due to the rising rates of chronic diseases such as cancer, diabetes, and several autoimmune disorders. The surging incidence of non-communicable diseases is attributed to factors such as antimicrobial resistance, unhealthy and sedentary lifestyles, and alcohol and tobacco use.
The COVID-19 pandemic has raised the demand for protective clothing, hand sanitizers, respiratory supplies, diagnostic and laboratory disposables, and medicine delivery products. In the forecast period, it is projected that growing consumer awareness of the advantages of hygiene and cleanliness will propel the market for hand sanitizers, clothing, and sterilization supplies.
Another important aspect that is expected to propel market expansion is the increasing prevalence of obesity, which is linked to lower extremity amputations and chronic wounds. Due to decreased vascular activity in adipose tissue, obese individuals are more likely to develop pressure ulcers. The inability of these individuals to adjust their position in bed serves as a prelude to injuries caused by pressure.
The creases in their skin can create the perfect environment for microbes to proliferate. These microbes break down the skin, which results in ulcers, which can increase the demand for these solutions, which will push the market.
Technological Advancements in Treatment Options Fuel Market Expansion
The chronic wound care sector is expanding as a result of technological developments in treatment choices. The potential for patient outcomes, healing time, and effectiveness of wound care to be dramatically improved by technological advancements is great.
For instance, TRUSHIELD NXT, a surgical wound dressing with a 3D hydrocellular substrate and distinct infection prevention technology, was introduced by Healthium Medtech Limited in October 2021.
Consumers are anticipated to be encouraged to use cutting-edge wound care solutions for the urgent treatment of diabetic foot ulcers and other ailments. This is attributed to key players' investments in research and development and the introduction of a range of novel wound-healing products, including foam dressings and others.
In developed nations, a sizable amount of healthcare spending is allocated to treating wounds. According to studies conducted by Health Science Reports 2022, 50% of hospitalized patients have wounds, compared to 1% to 2% of the general population worldwide who live in affluent nations.
Chronic wounds take longer than the anticipated 30 days to heal. Technologies have been created to solve difficulties in wound care to reduce discomfort, accelerate healing, or reduce wound infections.
It is clear from these trends and advancements in wound care that the global healthcare sector is aggressively addressing the difficulties in treating wounds. It aims to improve patient outcomes and raise the standard of care for those with chronic wounds.
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2018 to 2022 Chronic Wound Care Market Insights Vs. 2023 to 2033 Demand Forecast
The global chronic wound care market recorded a CAGR of 2.2% in the historical period from 2018 to 2022. The chronic wound care market value was around 63.8% of the global advance wound dressing market.
The global wound dressing market was worth US$ 26,165.24 million in the same period. The increasing incidence of diabetic foot ulcers in the elderly in developing countries is leading to a growing demand for antimicrobial wound dressing products.
Attributes
Details
Historical CAGR (2018 to 2022)
2.2%
Forecast CAGR (2023 to 2033)
3.8%
For instance, research published by the National Center for Biotechnology Information in August 2021 states that 1.0% of diabetics in the United States suffer an amputation, and 5.0% of diabetics in the country have foot ulcers. Diabetic foot ulcers can also lead to lower limb amputations and gangrene. These are the most common conditions in hospital wards in less developed countries, which can spur the demand for antimicrobial wound dressing products.
The market for chronic wound care medications is propelled by continued efforts to discover novel and efficient treatment alternatives. It is also projected to be supported by the rising expenditure in healthcare facilities and the expanding use of cutting-edge wound care technologies.
Such advancements are intended to improve patient outcomes and reduce healthcare expenses related to managing chronic wounds. These are further expected to raise the general standard of living for those who have chronic wounds.
Trends and Opportunities in the Chronic Wound Care Market
Attributes
Key Factors
Chronic Wound Care Market Trends
Advanced Therapies and Biologics: Bioengineered skin substitutes, growth factors, and stem cell-based therapies are examples of advanced wound care therapies that are gaining popularity. The goals of these advancements are to enhance chronic wound healing and hasten wound healing.
Telemedicine and Remote Monitoring: Since the COVID-19 epidemic, there has been a surging use of telemedicine and remote monitoring technology. This eliminates the need for in-person visits and enables prompt wound assessment and management.
Personalized Wound Care Programs: It's becoming more popular to design wound care programs based on the requirements of certain patients. This entails taking into account variables such as the kind of wound, the patient's general health, way of life, and preferences.
Smart Dressings and Devices: Real-time tracking of the process of wound healing is now possible with the introduction of smart dressings and wound monitoring devices that are outfitted with sensors and IoT technology. These gadgets can give medical professionals useful information they need to make wise choices.
Growth Hindrances
High Cost of Advanced Therapies: Growth factors and bioengineered skin substitutes are examples of advanced wound care products and therapies that can be costly. This expense can provide a serious obstacle, particularly for those without sufficient insurance.
Limited Reimbursement Policies: The cost of a handful of advanced wound care procedures cannot be sufficiently covered by reimbursement policies in underdeveloped areas. This can restrict patients' access to innovative treatments.
Regulatory Obstacles: The market for chronic wound care must comply with strict regulations. Getting approvals for novel treatments or products can be an expensive and time-consuming procedure.
Upcoming Opportunities
Technological Advancements: There is a lot of room for expansion in the field of wound care technologies, which include smart wound monitoring devices, bioengineered skin substitutes, and sophisticated dressings.
Biologics and Regenerative Therapies: A promising path to improving wound healing results is the development of biologic wound healing agents, such as growth factors, stem cells, and tissue-engineered products.
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Comparative Overview of Adjacent Chronic Wound Care Markets
The section covers a comparative view of three markets similar to the global chronic wound care market. As per estimations, the chronic pulmonary hypertension treatment market would lead out of the three markets.
The market for chronic wound care is set to reach a valuation of US$ 25,042.5 million by 2023. The chronic pulmonary hypertension treatment and chronic hepatitis B virus testing markets are projected to reach US$ 7 billion and US$ 919 million, respectively, in 2023.
Chronic Wound Care Market:
Attributes
Chronic Wound Care Market
CAGR (2023 to 2033)
3.8%
Market Value (2023)
US$ 25,042.5 million
Growth Factor
Rising patient and healthcare professional knowledge of the value of appropriate wound care and the accessibility of cutting-edge therapies can propel market expansion.
Key Trend
The value of patient education and participation in their own wound management is becoming increasingly apparent. Better results can result from providing patients with the information and resources they need to manage themselves.
Chronic Hepatitis B Virus Testing Market:
Attributes
Chronic Hepatitis B Virus Testing Market
CAGR (2023 to 2033)
6.9%
Market Value (2023)
US$ 919 million
Growth Factor
Early diagnosis and detection of chronic hepatitis B virus for timely treatment and prevention of disease progression are increasingly emphasized.
Key Trend
Continuous advancements in diagnostic technology, including serology, point-of-care testing, and nucleic acid testing (NAT), are improving the accuracy and efficacy of HBV testing.
Chronic Pulmonary Hypertension Treatment Market:
Attributes
Chronic Pulmonary Hypertension Treatment Market
CAGR (2023 to 2033)
5%
Market Value (2023)
US$ 7 billion
Growth Factor
A key trend in the treatment of CPH is the development of specific treatments, such as endothelin receptor antagonists, phosphodiesterase-5 (PDE-5) inhibitors, and prostacyclin analogs.
Key Trend
In an effort to enhance patient outcomes and optimize therapy efficacy, physicians are increasingly investigating combination medicines. Drug combinations with multiple modes of action can provide beneficial benefits when blended.
Country-wise Insights
In the table below, the CAGRs of the top six countries are given for the review period 2023 to 2033. China and India are expected to remain dominant by exhibiting CAGRs of 8.9% and 9.1%, respectively. The United States and Japan are anticipated to follow with CAGRs of 1.2% and 4.8%, respectively.
Country
Value-based CAGR
United States
1.2%
Germany
1.1%
United Kingdom
0.9%
Japan
4.8%
China
8.9%
India
9.1%
Highly Developed Healthcare Infrastructure in the United States to Raise Demand
The United States dominated the global chronic wound care market with a 34.9% share in 2022. It is projected to continue experiencing high growth throughout the forecast period. The North America market is expected to surge with a CAGR of 1.2% over the forecast period due to the rising prevalence of chronic wounds.
Between 2.4 and 4.5 million people in the United States alone are estimated to be impacted by chronic wounds, according to the Advances in Wound Care Report 2015. Chronic leg and foot ulcers, which are related to chronic venous insufficiency, arterial disease, high blood pressure, or neuropathy, are common in people with vascular disease or diabetes.
The rising incidence of chronic diseases such as diabetes, obesity, and vascular diseases has contributed to an increasing number of patients with chronic wounds. This has created a substantial demand for effective wound care drugs in the market.
The growing awareness among healthcare professionals and patients about the importance of early and effective wound management has led to an increased demand for advanced wound care products and drugs. These would help promote faster healing and reduce the risk of complications.
Growing Government Focus on Healthcare Reforms to Drive Sales in China
China dominates the global chronic wound care market and held a 4.2% market share in 2022. It is projected to continue experiencing high growth throughout the forecast period.
The government of China has been focusing on healthcare reforms to improve the accessibility and quality of healthcare services across the country. These initiatives are set to create a conducive environment for manufacturers to introduce and promote chronic wound care in the market.
China's pharmaceutical market has been rapidly expanding, driven by a combination of factors, including increased healthcare expenditure, a growing middle class, and a greater focus on healthcare research and development. This presents an opportunity for manufacturers to tap into the market potential and cater to the growing demand for chronic wound care.
Rising Healthcare Professionals in India to Spur Demand
India held about 4.1% share of the global market in 2022 and is projected to showcase robust growth during the forecast period. The prevalence of chronic conditions such as diabetes, obesity, and cardiovascular diseases is rising in India. These conditions often lead to chronic wounds, creating a significant demand for effective wound care drugs and treatments.
There has been a significant increase in awareness among healthcare professionals and patients regarding the importance of early intervention and effective wound management in India. This heightened awareness has led to a greater demand for advanced wound care products and drugs that facilitate faster healing and reduce the risk of complications.
Awareness Campaigns Related to Wound Care to Surge Demand in Germany
In 2022, Germany held a dominant revenue in the chronic wound care market and is expected to surge at a CAGR of 1.1% through 2033. There are now more specialized wound treatment clinics and facilities available in Germany. These clinics would provide cutting-edge care and knowledge about handling long-term wounds.
Advanced wound dressings with antibacterial qualities are in demand as infection control is crucial to wound care. International enterprises, research centers, and healthcare organizations often collaborate with each other in Germany. These collaborations seek to improve wound care treatments by utilizing knowledge and technology.
In Germany, education and awareness campaigns about the care and prevention of wounds are essential. Patients and medical personnel can both gain from continuing education regarding optimal techniques for managing wounds.
In Germany, telemedicine and remote monitoring technologies are becoming increasingly popular. The use of these technologies eliminates the necessity for in-person visits for consultations and wound evaluations.
Regenerative medicine and tissue engineering, which can find use in the treatment of chronic wounds, have attracted considerable interest in Germany. Healthcare professionals are becoming more conscious of environmental sustainability. Eco-friendly manufacturing methods can provide them with a competitive advantage.
Government Funding for Bioengineering to Drive Sales in Japan
Japan’s chronic wound care market is poised to exhibit a CAGR of 4.8% during the assessment period. Due to its high elderly population, Japan has a substantial market for services and goods related to chronic wound care. The need for enhanced wound care treatments is set to be fueled by the rise of chronic disorders such as diabetes and vascular diseases.
Japan regulates healthcare items under strict guidelines. In order for manufacturers to promote and distribute wound care products in the nation, they must abide by the Pharmaceutical Affairs Law and other pertinent rules.
The country’s market is distinguished by a significant focus on innovation in technology. There is a market for advanced wound care goods, such as wound healing devices and bioengineered dressings.
Buyers in Japan are renowned for having a taste for premium goods. For manufacturers to be successful in this industry, strict standards of quality and safety must be upheld.
In Japan, home healthcare is becoming more popular due to the country's increasing aging population. This involves the requirement for at-home, efficacious treatments for chronic wound care.
Category-wise Insights
The table below signifies the leading sub-categories under product, wound type, and distribution channel categories in the chronic wound care market. Advanced wound dressing is expected to dominate the market for chronic wound care by exhibiting a 3.0% CAGR in the evaluation period. Under the wound type category, the other ulcers segment is projected to lead the global market at a 1.8% CAGR.
Segment
Value CAGR
Advanced Wound Dressings (Product)
3.0%
Other Ulcers (Wound Type)
1.8%
Hospitals (Distribution Channel)
1.2%
Advanced Wound Dressings to be Highly Preferred in the Market by 2033
Advanced wound dressings in terms of the product segment held a share of 40.9% in 2022, and the same trend is set to be followed over the forecast period. The increasing incidence of diabetic foot ulcers in the elderly in developing countries is leading to a steady demand for advanced wound dressing products.
According to estimates by the International Diabetes Federation, the prevalence of diabetic foot ulcers in developed countries was around 2% in 2017, while it was over 20% in resource-poor countries in the Caribbean. This is driving the demand for low-cost antimicrobial wound dressing products in inpatient care and private homes.
Other Ulcers Wound Types to be Popular in the Healthcare Sector
The other ulcers segment dominates the wound type segment and held around 49.6% market share in 2022. Increasing research and development investments in wound care are projected to boost the market for chronic wound care.
The goal of research and development is to create novel dressing materials, incorporate cutting-edge technology, and improve the antibacterial qualities of dressings. Through these expenditures, businesses want to stay competitive and meet the changing demands of both patients and healthcare professionals.
The development of antimicrobial wound dressings with improved qualities and functions is the focus of research and development spending. This includes the development of dressings with higher biocompatibility, longer wear times, improved moisture management, and simplicity of use. Also, the aim of research and development is to develop novel solutions that specifically address the needs of patients and healthcare professionals.
Hospital to be the Leading Distribution Channel in the Global Market
The hospital segment dominates in terms of end-users. The segment held about 31.4% market share in 2022. Hospitals frequently have specialized wound care units with cutting-edge technology and qualified medical staff who are committed to efficiently managing chronic wounds.
Patients with severe or complex chronic wounds frequently need inpatient care for proper monitoring and treatment, which is effectively given in hospital settings. To ensure thorough and integrated treatment regimens for patients with chronic wounds, hospitals frequently facilitate multidisciplinary collaboration among several healthcare professionals. It includes wound care specialists, nurses, and chemists; this improves patient outcomes and boosts the effectiveness of healthcare as a whole.
Competitive Landscape
Collaboration among healthcare professionals from other disciplines, such as surgeons, nurses, microbiologists, and researchers, can improve patient outcomes and promote the use of novel wound care solutions, such as antimicrobial dressings.
Market participants are adopting several strategies, such as collaborations, mergers and acquisitions, and product launches, to strengthen their presence in the market. Furthermore, leading companies are capitalizing heavily on research and development to bring innovative products and advanced technology to market.
For instance,
In April 2022, Lupin completed the acquisition of Anglo-French brands.
Teva Pharmaceuticals and the Attorney General of Rhode Island settled in March 2022 regarding the state's and its sub-divisions opioid-related claims.
In January 2023, to offer epifix, allogeneic placental tissue for wound healing in Japan, Mimedx and Gunze Medical Limited inked an exclusive distribution deal.
In November 2022, Medela LLC and Medpro collaborated to increase access to the latter's wound care systems.
In March 2022, COnvaTech Group acquired Traid Life Science to enter the wound biologics market.
Scope of the Report
Attribute
Details
Chronic Wound Care Market Size (2023)
US$ 17,272.4 million
Chronic Wound Care Market Forecast Value (2033)
US$ 25,042.5 million
Value-based CAGR (2023 to 2033)
3.8%
Forecast Period
2023 to 2033
Historical Data Available for
2018 to 2022
Market Analysis
Value (US$ million)
Key Regions Covered
North America, Latin America, East Asia, South Asia Pacific, Western Europe, Eastern Europe, Central Asia, Russia and Belarus, Balkan and Baltic Countries, Middle East and Africa
Key Countries Covered
United States, Canada, Brazil, Mexico, Argentina, China, Japan, South Korea, India, Indonesia, Thailand, Philippines, Malaysia, Vietnam, Australia and New Zealand, Western Europe, Eastern Europe, Germany, GCC Countries, Türkiye, Northern Africa, South Africa, Israel.
