Wound Care Management Devices Market: Trends, Growth, and Forecast 2024-2031

Industry Overview
Global Wound Care Management Devices Market is estimated to reach at a CAGR of 6% during the forecast period 2024-2031.

Wound management products play a crucial role in treating complex wounds, addressing a common affliction affecting billions worldwide. These products are designed to be highly resistant to environmental inhibitors and foreign particles, making them essential tools for nurses under physician supervision. The increasing prevalence of risk factors and the demand for cost-efficient treatments are driving advancements in wound care products, ensuring better outcomes for patients.

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Industry Dynamics

The growing prevalence of diseases & conditions affecting wound healing capabilities is expected to drive the growth in the forecast period.

The prevalence of acute, chronic, and surgical wounds has increased significantly over the past decade, primarily due to the growing global geriatric population, rising traumatic wounds, increasing number of surgeries, and the increasing prevalence of conditions like obesity and diabetes. Diabetes and obesity can increase the overall incidence and complexity of wounds such as infections, ulcerations (leg or foot ulcers), and chronic wounds, which require treatments (wound management) and incur exorbitant medical expenses.

Diabetes is a major wound-causing disease along with other chronic diseases. In adults over 65 years, the population suffering from diabetes is more than 25%. The incidence of chronic wounds, especially foot ulcers, is increasing among the diabetic population. Moreover, as per Germany Federal Statistical Office 2020 report, there is about 83 million population in Germany. Of these, 16.2 million people are above 67 years of age, which is projected to reach 21.4 million in 2040. As the elderly population is expected to increase shortly and are more prone to chronic diseases like diabetes, this population is expected to experience diabetic foot ulcers shortly, which is expected to impact the market positively. Further, the increase in product launches is expected to propel market growth. For instance, In February 2020, Integra LifeSciences Holdings Corporation (Sweden) launched AmnioExcel Plus Placental Allograft Membrane.

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Industry Segmentation

By Wound Type
Surgical & Traumatic Wounds
Diabetic Foot Ulcers
Pressure Ulcers
Venous Leg Ulcers
Burns & Other Wounds

By Product
Surgical Wound Care Products
Advanced Wound Care Products
Wound Therapy Devices
Traditional Wound Care Products

By End-User
Hospitals & Clinics
Long-term Care Settings
Home Care Settings
Other End Users

Industry Key Players
Major players are Johnston & Johnson Consumer Inc, 3M Company, Medtronic Plc, Smith & Nephew, ConvaTec Inc, B. Braun Melsungen AG, Coloplast Group, Integra LifeSciences, Cardinal Health and Mölnlycke Health Care AB.



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