Acute Wound Care Market

Market Overview

The global acute wound care market size was valued at USD 8.56 billion in 2021. It is projected to reach USD 12.49 billion by 2030, growing at a CAGR of 4.29% during the forecast period (2022–2030).

Products for advanced wound care (AWC) are intended to treat acute and chronic wounds as they require additional time to heal and are costly to treat. Advanced wound care is becoming the standard treatment for chronic wounds. Advanced wound care solutions are gradually replacing conventional wound care treatments due to their efficacy and efficiency in controlling wounds by promoting faster healing. They aid in maintaining a hydrated environment, maintaining a constant temperature, allowing the passage of oxygen, protecting the wound from extrinsic infection, and alleviating the pain associated with dressing changes.

In addition to hydrocolloids, hydrogels, film and foam dressings, and alginates, advanced wound care products also include hydrogels. Film, gauze, hydrogel, hydrocolloid, and foam dressings are necessary to treat chronic wounds. Advanced wound care solutions, including silver and alginates, are also utilized to remove excess fluids and prevent infections. These goods contain growth factors, commonly known as hormone-like compounds. Additionally, skin grafts and biomaterials are utilized to repair and close more extensive wounds that cannot close on their own.

Market Dynamics

Market Drivers

Rising Incidence of Diseases and Conditions Limiting Wound Healing to Foster Market Growth

Physical health difficulties such as acute, chronic, and surgical wounds hinder wound recovery. The frequency of acute, chronic, and surgical wounds has increased considerably, primarily due to an aging global population, increasing traumatic wounds, the number of operations, and the increasing prevalence of diseases such as obesity and diabetes. Diabetes and obesity can increase the incidence and severity of wounds such as infections, ulcerations (leg or foot ulcers), and chronic wounds, which require treatment (advanced wound management). Advanced wound care treatments include hydrophilic foam dressings, hydrogels, hydrofibers, and alginates, which can absorb up to twenty times their weight. Since plantar incisions heal slowly, patients are immobile for a prolonged period. This will enhance the demand for advanced wound care products since wound drainage and faster healing will necessitate more advanced wound management.

Technologically Advancements to Propel Growth

Increasing investments in R&D and introducing innovative products by market leaders such as B. Braun Melsungen AG and ConvaTec Group PLC are anticipated to boost the demand for these products, particularly in developed nations. For instance, ConvaTec Group PLC debuted ConvaMax to the global market. The novel ConvaMax bandage was designed to care for severely oozing lesions, such as leg ulcers, pressure ulcers, and diabetic foot ulcers. In addition, market participants' specific clinical benefits of negative pressure wound therapy (NPWT) and the development of enhanced features, such as single-use, are driving healthcare practitioners' global acceptance of NPWT devices.

Market Restraints

High Cost of Advanced Wound Care Products to Hinder Market Growth

The high cost of these products and chronic wound therapies may restrict their use, especially in economically sensitive regions like Asia and the rest of the world. Patients and medical professionals in these settings generally prefer sophisticated wound care products with a lower price point. However, with growing awareness of the efficacy of these therapies, the use of advanced wound care products is expected to expand. Although these goods are more expensive than regular gauzes, recent research has shown that they are more cost-effective over the long run because of lower labor costs.

Market Opportunities

Growing Possibilities in Emerging Economies to Boost Market Opportunities

The market for advanced wound care in Europe and North America is reasonably developed. Still, the Asia Pacific and Latin American markets are comparatively underdeveloped and offer significant potential for expansion. Consequently, several players actively work to bolster their presence in these areas.

Major market participants have significant opportunities for expansion in developing economies like India, South Korea, Malaysia, and Vietnam, as well as in countries of Africa and the Middle East like Israel, Saudi Arabia, and the United Arab Emirates. This is due to the fact that regulatory barriers have been lowered, healthcare infrastructure has advanced, the number of patients has increased, and total healthcare spending has increased. In addition, the regulatory framework in the Asia Pacific area is more malleable and user-friendly for commercial enterprises than that of industrialized nations.

Regional Analysis

The global acute wound care market is segmented into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

North America is the most dominant in global wound care and is anticipated to have a substantial increase during the forecast period. Significant factors promoting market expansion in this region include the enormous population base and a growing patient pool in countries like the United States. Additionally, since older people are more likely to sustain wounds, there will be a greater need for wound care supplies in this area. Additionally, the increasing incidence of road accidents and the availability of qualified specialists in North America can fuel the demand for wound care products.

Asia-Pacific is anticipated to experience the highest CAGR of 5.28% during the forecast period. This is due to a shift in lifestyle, which has increased the prevalence of chronic diseases in this region. In addition, the increase in medical tourism in this region fuels the rise in surgical procedures. As a result of the reasons mentioned above, Asia-Pacific is predicted to experience the highest growth rate throughout the projection period.

Segmental Analysis

The global acute wound care market is segmented by product, application, and end-user.

By Product

Based on product, the market is segmented into advanced wound dressing and surgical wound care.

The advanced wound dressing segment will dominate the global wound care market during the forecast period. Most advanced wound dressings are used to treat chronic and non-healing wounds. Consequently, an increase in chronic wounds, such as diabetic foot ulcers, is anticipated to boost the market. According to The Independent Diabetes Trust, 115,000 people in the United Kingdom may develop a diabetic foot ulcer at any given moment, whereas 278,000 people are treated annually for venous leg ulcers. On average, these wounds require 200 days to heal. As a result of the factors above, the wound care market is anticipated to expand throughout the projected period.

By Application

Based on application, the market is divided into chronic wounds and acute wounds.

The chronic wounds segment will dominate the wound care market and is predicted to experience a significant increase during the forecast period. The rising senior population and the prevalence of diabetic foot ulcers, venous pressure ulcers, and other chronic wounds are anticipated to drive the segment's rise. The incidence of varicose veins in the United States is rising annually.

According to the American Heart Association journal, roughly 27%, or one in four Americans, have varicose veins. A rise in the incidence of varicose veins may result in the formation of venous leg ulcers, hence driving the market. The acute wound segment is anticipated to grow at a CAGR of 4.24% during the projection period. The rising incidence of traumatic wounds and burns is the primary factor driving the segment's expansion. Reduced surgery site infections, more remarkable patient outcomes and satisfaction, and shorter hospital stays are among the benefits of acute wound products.

By End-User

Based on end-user, the market is divided into hospitals, clinics, and home healthcare.

The hospital segment will dominate the wound care market during the forecast period. This segment's rise can be linked to an increase in surgical operations worldwide due to sedentary lifestyles and bariatric surgeries that necessitate using these products to prevent surgical site infections. Additionally, surgical wound care dressings and NPWT are primarily suited for hospital use and cannot be administered at home. In addition, hospitals are significant purchasers of wound care products due to their long-term supplier contracts. The elements will likely cause the category to grow throughout the forecast period.

Recent Developments

• In March 2022, Smith & Nephew announced a new study showing GRAFIX™ Membrane cut the diabetic foot ulcer recurrence rate in half compared to leading competitors.
• In June 2022, Mölnlycke Health Care AB, Mepilex Ag in managing partial-thickness burns: A review of the clinical evidence.
• In May 2022, Convatec invests in BlueWind Medical to fund the development of innovative neuromodulation technology.
• In June 2022, Baxter Issues Urgent Medical Device Correction to Reinforce Important Safety Information Regarding Possible Risk of Oxygen Desaturation While Using Volara Device in Line with Ventilator in a Home Care Environment.