Global Chronic Wound Care Market Size By Type (Diabetic Ulcers, Pressure Ulcers, Venous Ulcers, Others), Product (Advanced Wound Dressings, Wound Care Therapy, Active Therapy, Others), End-User (Hospitals and Wound Care Centers, Homecare Settings, Others), and Region - Market Share, Trend Analysis, Competitive Intelligence, Historical Data, and Forecast 2023 - 2030

Market Perspective

Global Chronic Wound Care Market size was worth around USD 11.17 billion in 2022 and is anticipated to grow to around USD 15.51 billion by 2030 at a CAGR of around 4.28% between 2023 - 2030.

The global chronic wound care market is set to experience substantial growth due to various market drivers. The increasing prevalence of chronic wounds is one of the primary factors driving this growth. This trend is attributed to the growing incidence of chronic conditions like diabetes, obesity, vascular diseases, and aging populations. This has resulted in a larger patient pool that requires effective wound care products and treatments, thereby boosting the demand for them. However, the growth potential of the market is hindered by limited reimbursement policies in certain healthcare systems. These policies do not cover the cost of advanced wound care products and treatments, discouraging healthcare providers from adopting them. Consequently, the overall growth of the global market could slow down.

Key Insights

• Based on type, the diabetic ulcers segment held the dominating position with a market value of USD 4.33 billion in 2022.
• Based on product, the advanced wound dressings segment is expected to acquire the largest share market share of 53.74% by 2030
• Based on end-user, the hospitals and wound care centers segment holds the largest market share of 50.65% in 2022
• On the basis of region, North America is expected to generate revenue of USD 6.69 billion by 2030

Government Initiatives Drive Growth of the Market

Government initiatives and support play a crucial role in driving the growth of the global chronic wound care market. Recognizing the burden posed by chronic wounds, governments, and healthcare organizations are actively taking steps to address this issue. Governments are implementing various programs to enhance wound care education, both among healthcare professionals and the general public. By increasing awareness and knowledge about wound care, these initiatives aim to improve early detection and treatment, leading to better patient outcomes. Moreover, governments are supporting research and development in the field of wound care. By funding studies and clinical trials, they facilitate the development of innovative products and treatments that can effectively address chronic wounds. For instance, the Center for Medicare and Medicaid Services, United States (CMS), introduced a reimbursement policy that covers the use of cellular and tissue-based products for wound healing, such as skin substitutes. These products are often utilized in the treatment of chronic wounds that are difficult to heal. These efforts aim to improve wound care practices, advance treatment options, and make them more accessible, ultimately aiding the market's growth.

Developing Regions Face Challenges in Overcoming Cost Barriers in the Global Chronic Wound Care Market

The high cost of advanced wound care products presents a significant challenge to the global chronic wound care market. These innovative products can be expensive, creating barriers to their adoption and accessibility. For instance, there is limited adoption of advanced wound care products in developing regions with constrained healthcare budgets. The high costs associated with these products make them less affordable for healthcare systems operating under limited resources. As a result, patients in these regions may have limited access to these advanced solutions, hindering their ability to receive optimal wound care. The combination of high-cost barriers and a shortage of skilled professionals contribute to the limited availability of advanced wound care treatments, especially in underserved areas. As a result, individuals in these regions may not have access to the necessary treatments for healing chronic wounds, leading to potential health complications and exacerbating the existing problem of limited healthcare resources in these areas.

Recent Development

January 2023: Healiva acquired two wound-healing cell therapy assets from healthcare giant Smith & Nephew PLC. The deal includes the rights to ReNovaCell, a mesenchymal stem cell-based therapy for chronic wounds, and the current GMP-compliant manufacturing facility where the product is made. Healiva plans to advance the development of ReNovaCell for use in chronic wound care with a focus on diabetic foot ulcers and venous leg ulcers.

October 2022: Healthium Medtech, launched a new wound dressing portfolio that features a range of products, including foam, hydrocolloid, and film dressings. The portfolio was developed with input from healthcare providers and is intended to help improve patient outcomes and reduce the risk of complications. The new products will be marketed under Healthium’s Trugraft brand.

Segmentation Analysis

Based on type, the market is segmented into diabetic ulcers, pressure ulcers, venous ulcers, and others. The diabetic ulcers segment held the lion's share of 38.77% in 2022. The increasing prevalence of diabetes worldwide has led to a rise in the number of diabetic patients with chronic wounds, particularly diabetic ulcers. Diabetic ulcers tend to be more complex and challenging to treat compared to other types of chronic wounds, requiring specialized care and advanced wound management solutions. Additionally, the growing awareness among healthcare professionals about the importance of early detection and appropriate management of diabetic ulcers has further driven the demand for chronic wound care products and services in this segment.

Based on product, the market is classified into advanced wound dressings, wound care therapy, active therapy, and others. The advanced wound dressings segment is dominating the market and is expected to generate the highest revenue of USD 8.33 billion by 2030. Advanced wound dressings offer enhanced functionality and improved wound healing outcomes compared to traditional dressings. They provide better moisture management, and infection control, and promote a favorable wound-healing environment. The expanding geriatric population, coupled with an increase in chronic diseases and surgical procedures, has fueled the demand for advanced wound dressings.

Based on end-user, the market is divided into hospitals and wound care centers, homecare settings, and others. The hospitals and wound care centers segment is dominating the market and is expected to grow with the highest CAGR of 4.70% during the forecast period. Hospitals and wound care centers serve as primary healthcare settings for the treatment of chronic wounds, offering comprehensive care and specialized services. They have well-equipped infrastructure, advanced technologies, and skilled healthcare professionals, making them the go-to choice for patients with chronic wounds. The need for wound care services in these facilities has increased due to the rising burden of chronic wounds driven by factors including an aging population, as well as an increase in the incidence of diabetes, and obesity.

North America Leads the Market Due to High Emphasis On Quality Standards

North America boasts a strong and stable economy, with countries like the United States and Canada playing pivotal roles in global trade and commerce. This economic strength translates into robust consumer spending power, driving market growth and demand for products and services. North America is home to numerous technological and innovation hubs, fostering advancements in industries such as technology, healthcare, and manufacturing. This advantage attracts investment, research, and development, leading to cutting-edge products and services that gain global recognition. North America has a well-developed infrastructure, including transportation networks and communication systems, enabling efficient business operations. Furthermore, the region's emphasis on quality standards, regulatory frameworks, and intellectual property protection contributes to its dominant position.

Asia-Pacific Emerges as the Fastest-Growing Region in the Market

Asia-Pacific is the fastest-growing region in the market with a CAGR of 5.33%. The large population, particularly in countries like China and India, presents a significant market opportunity. The rising prevalence of chronic diseases, including diabetes and obesity, coupled with an aging population, has led to an increased incidence of chronic wounds in the region. This growing patient pool drives the demand for chronic wound care products and services. Healthcare infrastructure and access to medical services have been improving in Asia-Pacific, allowing for better diagnosis and management of chronic wounds. The region has been witnessing advancements in wound care technologies and the adoption of innovative treatment methods, further fueling market growth.

Competitive Landscape

The global chronic wound care market is fragmented with key players such as JOHNSON & JOHNSON, 3M, Smith & Nephew PLC, Mölnlycke Health Care AB, Coloplast Corp., ConvaTec Group PLC, Integra LifeSciences Holdings Corporation, Medline Industries, Inc., Paul Hartmann AG, Healthium Medtech, amongst others. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

The global medical marijuana packaging market is segmented as follows:

By Type

• Diabetic Ulcers
• Pressure Ulcers
• Venous Ulcers
• Others

By Product

• Advanced Wound Dressings
• Wound Care Therapy
• Active Therapy
• Others

By End-User

• Hospitals and Wound Care Centers
• Homecare Settings
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• Middle East & Africa
  • GCC
  • South Africa
  • North America
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America