The global wound care products market is expected to grow at a significant CAGR during the forecast period (2021-2027). Acute wounds, chronic wounds, and surgical wounds have a negative impact on the wound healing process. A growing geriatric population, rising traumatic wounds, increasing number of surgeries, and the rising incidence of diseases such as obesity and diabetes have contributed to an increase in the prevalence of acute, chronic, and surgical wounds over the last decade. Diabetes and obesity can increase the overall incidence and complexity of wounds such as infections, ulcerations (leg or foot ulcers), and chronic wounds, all of which necessitate treatment (wound management) and result in astronomical medical costs. As per the International Diabetes Foundation (IDF), around 463 million people had diabetes globally in 2019. The global prevalence of diabetes is projected to augment to 578 million by 2030, and 700 million by 2045. Moreover, around two-thirds of people having diabetes live in urban areas.
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The key companies operating in the industry are highly inclined towards the adoption of different growth strategies including capacity expansion, partnerships, mergers and acquisitions, geographical expansion, new product launch, and product innovation to remain competitive in the marketplace. For instance, in October 2019, Acelity Inc. and its KCI subsidiaries, one of a major medical technology company focused on advanced wound care and speciality surgical applications, were acquired by 3M. In February 2021, AxioBiosolutions, an India-based wound care company declared the CE mark certification for its next-generation advanced wound care product range, MaxioCel. Axio was able to enter the advanced woundcare market all around the world due to this approval. MaxioCel is a next-generation advanced woundcare dressing based on Bioactive Microfiber Gelling technology, which promotes faster granulation and hence speeds healing.
Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
Segment Covered-
- By Product
- By Wound
- By End-User
Regions covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape: 3M Co., Smith and Nephew plc, and Integra Lifesciences Corp., among others.
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Global Wound Care Products Market Report by Segment
By Product
- Dressings
- Devices
- Grafts
- Matrices
- Others
By Wound
- Traumatic
- Diabetic Ulcers
- Others (Burn, Surgical)
By End User
- Hospitals
- Clinics
- Others
Global Wound Care Products Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
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