The global wound care market is growing at 7.5% CAGR owing to the increased prominence of chronic situations that result in chronic, surgical, severe, and traumatic wounds increased expenditure on chronic wounds, mounting adoption of regenerative medicines in wound management, and technological development. In addition, the market will grow at a constant pace owing to improvement in healthcare safety standards, supportive regulatory norms, rising usage of wound care products, increased demand for developed wound care products, and growing affluence. Nevertheless, the increased potential in emerging countries and the rising number of mergers and acquisitions will create opportunities in the global wound care market.

Bioactive therapies such as skin substitutes, growth factors, etc., will gain prominence by medical professionals for wound healing particularly treating late-stage wounds. The industry players are concentrating on allograft, xenograft, nanofiber, dermal substitutes, and cell-based therapies that will cater to the need for urgent and effective wound management patients.

The COVID-19 pandemic had a staggering impact on the global wound care market as wound management was not included in essential procedures. Moreover, the government of various countries has reallocated their healthcare resources in wound clinics (beds, nurses, essential personnel) to manage COVID-19 patients.

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Based on product, advanced wound care products dominates the market as it is being adopted as the first line of therapy and increased adoption in foam dressings, antimicrobial dressings, alginate dressings, etc. Based on wound type, the chronic wound dominates the market owing to the rising population suffering from diabetic foot ulcers, pressure ulcers, etc., and increased spending to treat these conditions.

North America dominates the wound care market owing to the rising incidences of chronic diseases, rising incidences of burn injuries, technological development, and increased expenditure on surgical and chronic wounds. The rising cases of sports injuries, road accidents, and the presence of major companies, and availability of expert specialists, and enhancement in healthcare infrastructure are anticipated to drive the wound care market in the region.

Various product launches have taken place. For instance, Smith+Nephew launched ARIA, a digital ecosystem and application that is designed to connect delivery of patient care with providers during surgical and clinical procedures. ARIA is powered by the company’s Real Intelligence digital ecosystem and Positive Connections ASC solutions program, Integra LifeSciences Holding Corporation has launched AmnioExcel® Plus Placental Allograft Membrane in its wound care offering to take care of soft tissue repair.

The prominent players in the wound care industry include Acelity L.P. Inc., Smith & Nephew plc, Johnson & Johnson, Medtronic plc, Coloplast Corporation ConvaTec, Organogenesis Inc., Integra Life Sciences Holdings Corporation, and 3M Company.

Source: VynZ Research