The factors driving the market growth include rising aging population, government support in the form of funding for development of wound care products, increasing incidence of chronic diseases such as diabetes and growing obese population. However, factors such as high costs of advanced wound care products may restrain the market growth; especially in the cost-sensitive market.

North America dominates the wound care market with the U.S. accounting for the major market share. Asia is poised to grow at the highest CAGR during the forecast period, owing to the increasing awareness for wound care products, rising aging population, rising diabetic wounds due to changing lifestyle factors, and growing population with pressure ulcers. Furthermore, many players are focusing on the market in Asia. For instance, January 2016 Avita Medical (UK) signed a distribution agreement with INDEE Medical for distribution of its ReCell device in Japan. In 2012, Smith & Nephew (U.K.) planned to launch 23 new wound care products in the Asian and Chinese markets. Furthermore, in December 2012, ConvaTec (U.S.) started its operations in Bangalore, India, to bring novel healthcare technologies, products, and treatments to the Indian market, thereby establishing its footprint in the Asian market. Such developments are likely to spur the Asian market to grow in the coming years.

The prominent players in the wound care market are 3M Company (U.S.), Baxter International, Inc. (U.S.), Coloplast A/S (Denmark.), Convatec Healthcare B.S.A.R.L (U.S.), Covidien PLC (Ireland), Derma Sciences, Inc. (U.S.), Ethicon, Inc. (U.S.), Hollister, Inc. (U.S.), Ethicon, Inc. (U.S.), Acelity L.P/ (U.S.), Mölnlycke Health Care (Sweden), and Smith & Nephew (U.K.).

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