Originally published on Technavio:Wound Care Market Analysis Across North America, Europe, Asia, and Rest of World (ROW) - Covering US, Germany, France, UK, Japan - Size and Forecast 2023-2027

The estimated growth of the Wound Care Market is USD 6.83 billion, with a Compound Annual Growth Rate (CAGR) of 5.98% projected between 2022 and 2027.

The increased adoption of advanced products in hospitals and Ambulatory Surgical Centers (ASCs) has led to a significant rise in both acute and chronic wounds. Factors contributing to the surge in acute cuts include abrasions, punctures, lacerations, and incisions. Simultaneously, chronic wounds such as diabetic ulcers, venous ulcers, and pressure ulcers are on the rise, escalating the demand for advanced devices
Wound Care Market Size

The primary market trend is the increasing demand for combination dressings. In the global market, popular antimicrobials like honey, iodine, and silver are used. To improve treatment outcomes, numerous advanced dressings incorporate antimicrobial agents. Combination dressings, such as alginate dressings with microbial properties, are gaining popularity due to their benefits. They prevent infections and maintain moisture at the wound site by absorbing a small amount of exudate.

Main Challenges
The major challenge for the market is the high cost of wound treatments and advanced products. In the US, expenditure exceeds USD 45- USD 55 billion. Patients often require frequent dressing changes, with the initial purchase cost of conventional Negative Pressure Wound Therapy (NPWT) devices ranging from USD 20,000 to USD 30,000. Additional costs for consumables like dressings and canisters add to the financial burden.

The treatment of traumatic injuries is expensive due to prolonged hospital stays, material-intensive care, and the need for multiple procedures, long-term rehabilitation, and expensive equipment. The total healthcare cost per burn patient in high-income countries exceeds USD 85,000. Patients in low and middle-income countries struggle with affordability, and countries like Australia limit funding for chronic care, requiring patients to bear high out-of-pocket costs. These factors influence market growth and trends during the forecast period.
Product Analysis
The advanced wound segment is expected to witness significant market share growth during the forecast period. Designed for complex wounds, advanced dressings include moist dressings and antimicrobial dressings. The segment is projected to grow rapidly due to the increasing incidence of chronic wounds and burns, a rising population, clinics, and new product launches. However, competition among companies, the high cost of advanced wound dressings, and limited product differentiation leading to price wars affect segment growth.

Application Analysis
The chronic wound segment is experiencing market growth due to the rising prevalence of chronic diseases like diabetes, obesity, cancer, and cardiovascular diseases (CVDs), all major risk factors for chronic wounds. According to the Centers for Disease Control (CDC), 6 out of 10 adults in the US have a chronic disease, and 4 in 10 adults have two or more chronic symptoms. Chronic diseases contribute to rising death and disability rates, with an annual healthcare cost of USD 4.1 trillion. The pandemic has further increased the demand for chronic wound care. The growing number of chronic disease conditions and the complexity of these wounds are expected to drive market growth during the forecast period.

Regional Analysis
To Learn deeper into this report , View Sample PDF

For insights into the market share of various regions, view a PDF sample now.

North America is estimated to contribute 41% to the market's growth during the forecast period. Analysts have detailed regional trends and drivers shaping the market in the coming years. The US and Canada are key contributors to this region's growth, driven by factors such as the increasing prevalence of acute and chronic wounds, a growing number of surgical procedures, adoption of technologically advanced NPWT devices, and a significant market presence of leading companies.

For more information please contact.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/