Exploring Key Insights of the Chronic Wound Care Market: Growth Prospects, Emerging Trends, and Opportunities
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How Rapidly is the Chronic Wound Care Market Expected to Expand Between 2025 and 2034 Based on Current Trends?
The market size for chronic wound care has notably expanded over the past few years. It is projected to escalate from $15.27 billion in 2024 to $16.47 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.8%. Factors such as the aging population, increased occurrence of chronic diseases and diabetes, elevated awareness concerning wound management, and enhanced accessibility to healthcare services have contributed to the growth during the historic period.
The market for chronic wound care is anticipated to experience robust growth in the upcoming years. The market value is projected to reach $21.95 billion by 2029, with a compound annual growth rate of 7.5%. Factors contributing to the growth during the forecast period include the increasing demand for wound care products, an uptick in healthcare expenditure in developing nations, and focus on preventive measures and personalised treatments in wound care. Advanced infection control measures are also key drivers of this growth. The future will see trends such as incorporation of digital solutions in wound care management, proliferation of wound care clinics and specialised centres, utilisation of artificial intelligence for wound evaluation and treatment strategy, enhanced cooperation between wound care experts and other medical professionals, along with the invention of innovative biomaterials for wound dressings.
What Major Innovations Are Driving the Accelerated Growth of the Chronic Wound Care Market?
An escalating volume of sport-connected injuries is projected to propel the chronic wound care market in the future. Sports injuries are the result of physical damage or harm incurred while engaging in sports or recreational games. This rise can be attributed to various factors like amplified training intensity, impaired warm-up routine, insufficient protective gear, and untrained technique. Chronic wound care contributes to the treatment of these rising injuries, fostering speedy recovery, infection prevention, and reducing complication risks, thus enabling a swift return to athletic endeavours. For instance, the National Safety Council, a non-profit public service organization in the US, reported in March 2024, that there was a notable rise to 3.6 million emergency treatments for injuries related to sports and recreational gear in 2022, an increase from the record low in 2020, witnessing a 20% growth in 2021 and a further 32% surge in 2022, compared to each preceding year. Additionally, in 2022, injuries associated with workouts and exercise equipment rose to 445,642 from 409,224 in 2021. Therefore, the burgeoning number of sports injuries is a prime factor propelling the growth of the chronic wound care market.
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Which Key Players Are Shaping the Future of the Chronic Wound Care Market?
Major companies operating in the chronic wound care market are:
• Cardinal Health Inc.
• Johnson & Johnson
• 3M Company
• Medtronic PLC
• Becton Dickinson and Company
How Are the Latest Trends Influencing the Growth of the Chronic Wound Care Market?
Top-tier companies engaged in the chronic wound care market are shifting their focus towards creating cutting-edge solutions like negative pressure wound therapy (NPWT) systems, which make home-based treatment more comfortable and handy. A NPWT system constitute a medical device that utilizes controlled suction on the wound, enabling healing by the elimination of surplus fluid, reducing swelling, and boosting tissue circulation. For instance, Smith & Nephew, a medical equipment manufacturing firm based in the UK, released the RENASYS EDGE in the US in April 2024. This product is designed to provide a patient-focused method to treat chronic wounds. Highlighting a compact, lightweight design and an instinctive interface for medical professionals, it offers step-by-step guidance on therapy applications, and it includes a single-click support during setup via the system’s near-field communication feature. Furthermore, Smith+Nephew offers 24/7 patient support and a helpline for clinical concerns. The inclusion of technical advancements such as greater portability and near-field communication, enhance the patients’ comfort and meet the increasing requirement for effective home-based care, potentially reducing the health care expenses related to chronic wound management in the wound care market.
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What Are the Strategic Segments Comprising the Chronic Wound Care Market and Their Growth Contributions?
The chronic wound care market covered in this report is segmented –
1) By Product: Advanced Wound Dressing, Surgical Wound Care, Suture And Staples, Tissue Adhesive And Sealants, Anti-infective Dressing, Traditional Wound Care, Wound Therapy Devices
2) By Application: Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, Other Applications
3) By End-User: Hospitals, Clinics, Homecare Settings, Other End-Users
Subsegments:
1) By Advanced Wound Dressing: Hydrocolloid Dressings, Foam Dressings, Alginate Dressings, Hydrofiber Dressings, Collagen Dressings, Film Dressings, Silicone Dressings, Composite Dressings
2) By Surgical Wound Care: Post-operative Dressings, Surgical Drapes, Surgical Sponges, Adhesive Bandages, Hemostatic Agents
3) By Suture And Staples: Absorbable Sutures, Non-Absorbable Sutures, Surgical Staples, Suture Kits
4) By Tissue Adhesive And Sealants: Cyanoacrylate Adhesives, Fibrin Sealants, Collagen-Based Adhesives, Synthetic Polymers
5) By Anti-Infective Dressing: Silver-Based Dressings, Honey-Based Dressings, Iodine-Based Dressings, Antibiotic-Impregnated Dressings
6) By Traditional Wound Care: Gauze Dressings, Bandages, Cotton Wool, Adhesive Plasters, Antiseptic Creams And Ointments
7) By Wound Therapy Devices: Negative Pressure Wound Therapy (NPWT) Devices, Electrical Stimulation Devices, Oxygen Therapy Devices, Infrared Therapy Devices, Ultrasound Therapy Devices
What Regions Are At the Forefront of Chronic Wound Care Market Expansion?
North America was the largest region in the chronic wound care market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the chronic wound care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is the Chronic Wound Care Market Classified and Defined in Market Analysis?
Chronic wound care refers to the specialized medical treatment and management of wounds that fail to progress through the normal stages of healing within an expected timeframe, often lasting for an extended duration. It is utilized to address a variety of persistent wounds, aiming to promote healing and prevent complications.
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