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Chronic Wound Care Market: Industry Trends, Comprehensive Analysis, and Growth Drivers
Chronic Wound Care Market
As per the report, the chronic wound care market size has grown strongly in recent years. It will grow from $14.23 billion in 2023 to $15.27 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The chronic wound care market size is expected to see strong growth in the next few years. It will grow to $20.43 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
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Surging Number Of Sports Injuries Driving The Chronic Wound Care Market
The surging number of sports injuries is expected to drive the chronic wound care market going forward. Sports injuries refer to physical harm or trauma sustained during participation in sports or recreational activities. The number of sports injuries is on the rise due to various reasons, such as increased intensity of training, a lack of proper warm-up, inadequate protective gear, and poor technique. Chronic wound care aids in treating the surging number of sports injuries by promoting faster healing, preventing infections, and minimizing the risk of complications, thereby facilitating a quicker return to physical activity. For instance, in March 2024, according to the National Safety Council, a US-based non-profit public service organization, in 2022, there were 3.6 million emergency department treatments for sports and recreational equipment-related injuries, up from a record low in 2020, with a 20% increase in 2021 and a further 32% increase in 2022 compared to the previous year. In addition, the number of injuries associated with exercise and exercise equipment grew from 409,224 in 2021 to 445,642 in 2022. Therefore, the surging number of sports injuries is driving the chronic wound care market.
Increasing Focus On Innovative Systems In The Chronic Wound Care Market
Major companies operating in the chronic wound care market are increasing their focus on developing advanced solutions, such as negative pressure wound therapy (NPWT) systems, to enable more comfortable and convenient home-based treatment. A negative pressure wound therapy (NPWT) system refers to a medical device that applies controlled suction to a wound, promoting healing by removing excess fluid, reducing edema, and enhancing tissue perfusion. For instance, in April 2024, Smith & Nephew, a UK-based medical equipment manufacturing company, launched the RENASYS EDGE in the US as a patient-centric option for treating chronic wounds. This system features a lightweight, compact design and an intuitive interface for clinicians. Its user-friendly interface provides step-by-step advice on therapeutic applications, and technical support is available with a single click during setup via the system's near-field communication function. Smith+Nephew also provides 24-hour patient support and a clinical helpline. Its technological advancements, such as increased portability and the incorporation of near-field communication, not only improve patient comfort but also address the growing demand for effective home-based care, potentially lowering healthcare costs associated with chronic wound management in the wound care market.
The chronic wound care market covered in this report is segmented -
1) By Product: Advanced Wound Dressing, Surgical Wound Care, Suture And Staples, Tissue Adhesive And Sealants, Anti-infective Dressing, Traditional Wound Care, Wound Therapy Devices
2) By Application: Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, Other Applications
3) By End-User: Hospitals, Clinics, Homecare Settings, Other End-Users
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Major companies operating in the chronic wound care market are Cardinal Health Inc., Johnson & Johnson, 3M Company, Medtronic PLC, Becton Dickinson and Company, Stryker Corporation, Teva Pharmaceuticals, Baxter International Inc., Essity AB (BSN Medical), Medline Industries Inc., Avery Dennison Corporation, Smith & Nephew PLC, Ethicon Inc., Coloplast AS, B. Braun Holding GmbH & Co. KG, Paul Hartmann AG, ConvaTec Group PLC, Mölnlycke Health Care AB, Integra LifeSciences Holdings Corporation, Acelity L.P. Inc., Organogenesis Holdings Inc., MTF Biologics, MIMEDX Group Inc., Vericel Corporation, Anika Therapeutics Inc., Sigvaris Group, Marine Polymer Technologies Inc., Oneness Biotech Co. Ltd., Tissue Regenix Group PLC, Alleva Medical Ltd. (Devon Medical Products)
Contents of the report:
1. Executive Summary
2. Chronic Wound Care Market Report Structure
3. Chronic Wound Care Market Trends And Strategies
4. Chronic Wound Care Market - Macro Economic Scenario
5. Chronic Wound Care Market Size And Growth
…..
27. Chronic Wound Care Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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