Wound Care Market is Estimated to Develop at a Moderate 3.1% CAGR through 2031

The wound care market is projected to grow significantly between 2024 and 2031, driven by advancements in wound dressing products and increasing demand across healthcare settings, particularly for chronic and acute wounds. Key factors include the expansion of home healthcare services and innovations in surgical wound management.
Global Wound Care Market [https://www.skyquestt.com/report/wound-care-market] size was valued at USD 13.18 Billion in 2023 to USD 16.32 Billion by 2031, growing at a CAGR of 3.1 % in the forecast period (2024-2031).Surging numbers of surgeries around the world are projected to primarily augment the demand for wound care over the coming years. Advancements in wound care technologies and rising availability of novel wound care products will also help boost wound care market growth across the study period and beyond. Growing prevalence of diabetes will also help promote sales of wound care products in the future.

Launching innovative wound care products that can be used for multiple types of wounds is the primary focus of every wound care company operating in this market. Increasing emphasis on integration of advanced technologies to enhance wound care and improve patient outcomes is also expected to foster innovation in this market going forward.

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Innovation Remains Quintessential for Success of Any Wound Care Company

The global wound care market is currently classified as highly fragmented owing to the presence of multiple regional and international market players. Emphasis on use of 3D printing to develop smart wound care solutions efficiently and faster is projected to be a key trend for all wound care providers in the future. Use of novel biomaterials and high investments in research and development of advanced wound care will also continue to create new opportunities for wound care companies across the forecast period and beyond. Using a regenerative medicine approach for wound care is a truly innovative way in which some companies are revolutionizing the global wound care market. Collaborations are also estimated to emerge as preferred strategies by new as well as established wound care providers to enhance their global market share.

Kerecis, a renowned name in the wound care space with its unique regenerative medicine approach announced the launch of its new wound care offering called The Shield Standard in February 2024. The new fish-skin graft product was launched to treat acute and chronic wounds and ulcers.

Smith+Nephew, a renowned name in the healthcare business, announced the launch of a new wound care offering for the United States market in April 2024. The Renasys Edge Negative Pressure Wound Therapy (NPWT) System was intended to revolutionize home-based chronic wound care.

An integrated dressing and drape that can easily be applied in under two minutes and reduce wound care costs by around 41% was launched in September 2024. Solventum was behind the launch of V.A.C. Registered Peel and Place Dressing as it focuses on improving its market share in the global wound care market.

Aroa Biosurgery, a regenerative medicine company based in New Zealand joined hands with HCAH, a healthcare solution provider in India to launch a new wound care initiative in September 2024. The initiative will initially focus on solving the issue of bed sores among patients.

A new soft skin adhesive especially designed to improve wound care was launched by DuPont in October 2023. DuPont Liveo MG 7-9960 is a non-cytotoxic, non-irritating, and non-sensitizing adhesive designed to provide good wound care for people with highly sensitive and fragile skin.

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Launching new products will remain the top priority for almost all wound care providers in the future. Taking an innovative approach and using advanced technologies will help wound care companies stand out from the competition. Regenerative medicine used in wound care is projected to have a bright outlook in the long run.

Wound Care Market Segmental Analysis:

Product

Advanced Wound Dressing

Surgical Wound Care

Traditional Wound Care

Wound Therapy Devices

Application

Chronic Wounds

Diabetic Foot Ulcers

Pressure Ulcers

Venous Leg Ulcers

Other Chronic Wounds

Acute Wounds

Surgical & Traumatic Wounds

Burns

End Use

Outpatient Facilities

Home Care

Research & Manufacturing

Mode of Purchase

Prescribed

Non-prescribed (OTC)

Distribution Channel

Institutional Sales

Retail Sales

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This report covers the following players:

Smith & Nephew

Molnlycke Health Care AB

ConvaTec Group PLC

Ethicon (Johnson & Johnson)

Baxter International

URGO Medical

Coloplast Corp.

Medtronic

3M

Derma Sciences Inc. (Integra LifeSciences)

Medline Industries

Advancis Medical

B. Braun Melsungen AG

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This release was published on openPR.