Chronic Wound Care Market - Forecasts from 2023 to 2028

The chronic wound care market is expected to grow at a CAGR of 7.66% from US$7.539 billion in 2021 to US$12.63 billion in 2028.

Chronic wounds are those that do not heal in a typical, timely, and ordered sequence and are widespread and frequently mistreated. Multiple underlying causes coupled with increasing cases of diabetes and vascular disorders are major factors in the chronic wound care market. Moreover, the aging population and their higher chance of developing a chronic wound and technological innovations by the market players are further contemplated to boost the chronic wound care market.

Multiple Underlying Causes

People who experience chronic wounds frequently have underlying medical conditions that make even slight pressure result in chronic wounds. A compromised immune system, such as that caused by cancer, is another risk factor for wounds that don't heal properly or become infected. The rising number of cancer cases thus contributes to the formation of chronic wounds. According to the WHO, cancer is a major cause of death worldwide with 10 million deaths in 2020, and 400,000 youngsters are diagnosed with cancer each year. Pressure ulcers (also known as bedsores) can form on certain portions of the body under prolonged pressure from people who spend a lot of time laying in bed or using a wheelchair. These multiple causes are collectively contributing to the increased number of chronic wounds thereby propelling the chronic wound care market. For instance, pressure injuries affect around 1-3 million US adults every year as per the NCBI.

Growing Prevalence of Diabetes

The lifetime chance of developing a foot ulcer ranges from 19% to 34%, and this risk is increasing as persons with diabetes live longer and have more complicated medical conditions. With recurrence rates of 65% at 3-5 years, a lifetime lower-extremity amputation incidence of 20%, and 5-year death of 50-70%, morbidity following initial ulceration is substantial as per the Diabetic Journal Organization. The growing case of diabetes is highly contributing to diabetic ulcers. For instance, around 422 million people are living worldwide with diabetes and the prevalence rate increased by 3% between 2000 and 2019 according to the WHO. These growing cases of diabetes and a higher chance of developing foot ulcers are expected to propel the chronic wound care market.

Aging Population

People over 65 years of age are most commonly affected by chronic wounds as per the NCBI. The growing aging population is thereby boosting the chronic wound care market. For instance, one in six persons on the planet will be 60 years of age or older by the year 2030 and there will be 1.4 billion people aged 60 years or above s compared to 1 billion in 2020, according to the WHO. According to the Journal of the German Society of Dermatology, venous leg ulcer incidence is found to be almost three times higher in people over the age of 80, and pressure ulcer incidence is five to seven times higher in people over 80 years compared to people in their 65 to 70 years. According to the WHO, the number of people 80 or older is predicted to triple between 2020 and 2050 to reach 426 million. This growing older population is expected to aid the chronic wound care market.

Restraints in the Market

Apart from all the growth drivers, a few factors are expected to limit the chronic wound care market growth. The high cost of wound care dressings, devices, and bioactive products is a major restraining factor in the chronic wound care market. For instance, individual patient care costs in the US range from $20,900 to $151,700 for wound management as per the estimates of Essential Health Organization. Moreover, the lack of reimbursement policies and varied medication practices in wound care management further limits the market growth.

North America is Expected to Grow Significantly

The North American region is expected to hold a significant share of the chronic wound care market during the forecast period. Various factors attributed to such a share are technological advancements, an increasingly older population, and a higher prevalence of other chronic illnesses causing chronic wounds. Additionally, the presence of major market players such as Smith and Nephew, Cardinal Health, and 3M are further expected to bolster the chronic wound care market in the region.

Major Market Players

• Smith and Nephew is one of the leading companies offering sports medicine, ENT, and advanced wound management. The company launched a WOUND COMPASS Clinical Support App in July 2022 to reduce the practice variation in wound care by aiding in wound assessment and decision-making.
• Cardinal Health, founded in 1971 serves around 90% of U.S. hospitals and more than 60,000 U.S. pharmacies. Cardinal Health offers a comprehensive portfolio of wound care products including AMD Antimicrobial Dressings, alginate dressings, foam dressings, hydrocolloids, and other wound solutions.
• Coloplast is a US-based company that offers medical solutions through interventional urology, wound, and skin care products and services. Biatin® Silicone, Biatin® Silicone Lite, Biatin® Non-Adhesive Foam Dressing, and Biatin® Alginate Ag Dressing are some of the wound care products offered by the company.

Key Market Developments

• In June 2023, Evonik Company launched an addition to the JenaCell portfolio for chronic wound dressing named epicite® in Germany. It enables superior wound cleansing and reactivates the healing of slow-healing wounds.
• In March 2023, In a joint announcement with Quintess Medical, Bactiguard announced the introduction of its wound care services in the UK and Ireland. The wound care products offered by the company are biocompatible, and Ph-neutral and can be used for both acute and chronic wounds.
• In October 2022, Healthium Medtech launched Theruptor Novo especially designed for diabetic ulcers and leg ulcers. It is made with a unique 3-D hydro cellular substrate that enables adequate exudates and moisture management and offers an optimal wound-healing environment.

Segmentation:

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 Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others