The Wound Skin Care Market is expected to be valued at US$ 8.5 billion in 2023, rising to US$ 13.2 billion by 2033. During the forecast period, the market is expected to grow at a CAGR of 4.5%. The market has been a semi-consolidated market growing at a rapid rate and is expected to witness lucrative growth with the rising number of patients with acute and chronic wounds, favourable reimbursement policies in emerging countries and the introduction of advanced products are anticipated to drive the market’s growth in the forecast period.
What is Driving Demand for Wound Skin Care?
There are various factors that are help in driving the wound skin care market. Wound caused by minor and major accidents are constantly increasing since few years whereby depend on effective medications and treatment for rapid healing. Various chronic diseases moreover contribute to the rising concern of the wounds worldwide.
The high rate of SSI (surgical site infection) occurrences in surgeries for patients with cancer and diabetes likewise requires the negative pressure wound therapy. The market growth in the healthcare sector is proved with the fact that around SSIs holds for 38% of all the nosocomial infections in surgical patients. This indicates the need for wound skin care management and treatment thus boosting the demand for the market.
The launch of advanced products and rising investment in research & development by market players is anticipated to boost the demand for these products, especially in emerging countries. This is leading to the market growth.
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Increasing prevalence of conditions & diseases affecting wound healing capabilities likely to drive the Wound Skin Care Sales
Physical health conditions, like acute wounds, surgical wounds and chronic wounds have an adverse effect on the wound healing process. The pervasiveness of surgical, chronic, and acute wounds has shown considerably growth over the past decade, mainly because of the rising worldwide geriatric population, the increasing prevalence of conditions like diabetes and obesity, increasing number of surgeries, and rising traumatic wounds.
Obesity and diabetes can lead to growth in overall incidence and complexity of wounds like infections, chronic wounds, and ulcerations (leg or foot ulcers), which require treatments (wound management) and incur excessive medical expenses.
US and Canada Wound Skin Care Market Outlook
North America, majorly United States and Canada dominated the Wound Skin Care market. U.S. Wound Skin Care market will forecast significant growth due to rising cases of road accidents, sports injuries, and the presence of various major companies in the country.
Also, increase in prevalence of people suffering from various chronic diseases is anticipated to have a positive impact on the market growth. In addition, rise in initiatives undertaken by governments and authorities to develop healthcare systems and spread awareness regarding advantages of wound care products are furthermore projected to drive the growth of the market.
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Europe Demand Outlook for Wound Skin Care
Europe is second-biggest market and is anticipated to register a significant growth because of the well-established infrastructure in countries like the Germany, U.K, etc., and hence rise in the adoption of innovative products in such countries.
Rising prevalence of diabetes is anticipated to drive the market growth over the forecast period. For example, as per the report North West Coast Strategic Clinical Networks of National Health Services, there were around 4.5 million individuals with diabetes in 2017 alone in the U.K. As per the same source, in 2017, approximately 200,000 diabetes patients are suffering from diabetic foot ulcers in U.K.
Over 64,000 diabetes patients in Wales and England are expected to have foot ulcers at any given time. These factors add to the market growth over the forecast period.
Who are the Key Manufacturers and Suppliers of Wound Skin Care?
Some of the leading manufacturers and suppliers of Wound Skin Care include
- Derma Sciences Inc. (Integra LifeSciences)
- Medline Industries, Inc
- Advancis Medical USA LLC
- B. Braun Melsungen AG
- Baxter International, Inc.
- Coloplast Corp.
- Medtronic PLC
- The 3M Company Smith & Nephew PLC
- Mölnlycke Health Care AB
- Acelity (KCI Licensing, Inc.)
- ConvaTec Group PLC
- ?Ethicon Inc. (Johnson & Johnson)
The Wound Skin Care market is semi-consolidated, with the existence of a many of large-scale players available in worldwide markets, and various small-scale participants in specific regional markets. Furthermore, a strong focus on the strategic growth of their product portfolio through partnerships & acquisitions is anticipated to provide a strong foothold to the players in the market.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Key Segments
By Product:
- Advanced Wound Care Products
- Surgical Wound Care Products
- Traditional Wound Care Products
- Negative Pressure Wound Therapy
- Wound Therapy Devices
By Application:
- Acute Wounds
- Traumatic and Surgical Wounds
- Burns
- Chronic Wounds
- Pressure Ulcers
- Diabetic Foot Ulcers
- Venous Leg Ulcers
- Others
By End User:
- Hospitals & Clinics
- Specialty Clinics
- Home Care Settings
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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