Wound Care Management Devices Market

Wound Care Management Devices Market Size (2022 to 2027)

The size of the global wound care management devices market is estimated to be growing at a CAGR of 3.8% during the forecast period. The market size is predicted to value USD 25.18 billion by 2027 from USD 20.89 billion in 2022.

Wound Care Management Devices Market Share Insights:

• Based on product, the advanced wound care segment dominated the market in 2021.
• Based on wound type, the burns segment is anticipated to hold a promising share in the wound care management devices market in 2021.
• North America had the dominating share of the global market in 2021.
• The European region is anticipated to be worth USD 7.29 billion by 2027.
• The Asia-Pacific region is expected to grow at a CAGR of 5.68% from 2022 to 2027.

Injuries and wounds are common conditions that impact billions of individuals worldwide. The products are resistant to environmental inhibitors and particles, and a nurse supplies them under the direction and supervision of a physician for various reasons. To treat chronic wounds, wound care devices are available on the market. Accidents, burns, trauma, and natural disasters can all result in wounds. Chronic and acute wounds are the two forms of wounds that are commonly seen. Obesity, cardiovascular disease, and diabetes are a few lifestyle diseases that can cause chronic wounds. Surgical or traumatic wounds, on the other hand, are acute wounds. Wound care treatment has used pharmacological drugs such as angiotensin-converting enzyme (A.C.E.) inhibitors, monoclonal antibodies, topical immunosuppressants, and xanthine oxidase inhibitors.

MARKET DRIVERS:

Factors such as increased cases of burns, increasing demand for anti-infective dressings, and rising prevalence of diabetic ulcers and foot ulcers propel the wound care management devices market.

In addition, the National Center for Biotechnology Information (NCBI) said that between 2 and 3% of the population in developed countries are expected to suffer chronic injury in their lifetime. Other factors responsible for the market's growth include technological advancements by significant players and increased awareness of the importance of wound care management.

Diabetes is the leading injury-causing illness, along with other chronic diseases, and in adults over 63, the diabetic population is over 27%. The incidence of chronic wounds, particularly foot ulcers, is increasing among the diabetic population. Besides, according to the 2020 report of the Federal Statistical Office of Germany, there are currently around 83 million inhabitants in Germany. Of these 16.4 million inhabitants, they are over 65 years old, which is expected to reach 22.5 million by 2050. As the number of older people is likely to increase soon, they are more prone to chronic diseases such as diabetes. This population is expected to experience skin ulcers shortly after diabetic foot, positively impacting the market. Therefore, the number of diabetic patients is anticipated to escalate with the rise in the geriatric population, stimulating the growth of wound care management devices during the prognostic period.

Furthermore, the growing focus of market participants to develop advanced wound care management devices due to increasing investments by the governments is anticipated to drive the wound care management devices market forward. Additionally, increasing product approvals and growing public and private companies funding are expected to promote the market’s growth rate. Further, the wound care management devices market is expected to be driven by pharmaceutical companies willing to invest in affordable wound care technologies due to chronic wounds' current financial burden. This growth is attributed to the changing preference of healthcare professionals for painless wound closure devices and the increased demand for minimally invasive therapies worldwide. Moreover, the increasing use of absorbable synthetic sutures in cosmetic surgeries is expected to drive market growth shortly. According to the International Society for Aesthetic Plastic Surgery data, approximately 11,061,134 cosmetic surgery procedures were performed worldwide in 2019.

MARKET RESTRAINTS:

However, the high cost of wound care products and strict government regulations for product approval are expected to impact the market's growth during the forecast period negatively. Due to the high cost of the devices, hospitals and clinics are seeking an alternative process for wound healing. Unfavorable reimbursement policies for developing wound care products and the experience of discomfort in several patients is a significant side effect of slowing down market growth in many regions, furthermore, Due to decreasing the quality of the products, which may result in an increase of side effects for the patients after using the devices, impede the market growth.

Impact of COVID-19 on the global wound care management devices market:

The new COVID-19 pandemic has been declared an emergency public health issue by the WHO. The pandemic has negatively impacted advanced wound care dressings and devices. Countries worldwide reallocated the resources such as hospital beds, nurses, and medical devices to manage COVID-19 patients. Healthcare providers have shifted to new models of care for chronic wounds, like telehealth platforms and consultations. Healthcare services like specialized wound care clinics and hospitals with wound care departments have been closed with the available number of hospital beds as they are used for COVID-19 patients. As per the statistics published by Tissue Analytics, Inc., an estimated 40% drop in inpatient visits in wound care centers during March and April 2020 compared to 2019. However, owing to the reduced impact of COVID-19 and the increasing adoption of new normalization, the global wound care management devices market is anticipated to showcase a healthy CAGR during the forecast period.

REPORT COVERAGE:

This research report on the global wound care management devices market is segmented and sub-segmented based on type, production technologies, and region.

Wound Care Management Devices Market - By Product:

• Advanced Wound Management Products
  • Advanced Wound Dressing
    • Foam dressing
    • Hydrocolloid dressings
    • Film dressings
    • Alginate dressing
    • Hydrogel dressing
    • Collagen dressing
    • Other

• Therapy Devices
  • Negative Pressure Wound Therapy
  • Pressure Relief Devices
  • Oxygen and Hyperbaric Oxygen Devices
  • Electric Stimulation Devices
  • Other Therapy Devices
• Active Wound Care
  • Artificial Skin and Skin Substitutes
  • Topical Agents
• Surgical Wound Care
  • Tissue Adhesives, Sealants & Glues
  • Anti-infective Dressings
• Traditional /Basic Wound Care
  • Medical Tapes
  • Dressings
  • Cleansing Agents

Based on the product type, the therapy device segment is expected to dominate the global wound care management device market, owing to many product registrations and its advantages over traditional methods of promoting wound healing by hydration. These devices reduce the risk of infection at the wound site, thereby improving wound healing procedures.

The traditional segment is also expected to register a healthy CAGR during the forecast period. The medical tapes and the dressing sub-segment among the wound care segments have the highest market share. This dominance can be attributed to the comprehensive utilities of the segment. For instance, most people working in kitchens may have minor injuries while cooking due to hot and sharp utensils needing medical tapes to reduce pain and swelling. Additionally, people working in and outside industries have minor scratches on their skin on multiple occasions due to demanding and fast jobs.

Wound Care Management Devices Market - By Type of Wound:

• Chronic Wounds
  • Diabetic Foot Ulcers (D.F.U.)
  • Pressure Ulcer
  • Venous Leg Ulcer
  • Other Chronic Wounds

• Acute Wounds
• Surgical & traumatic wounds
• Burns

The burns segment is expected to be the most lucrative market segment based on the type of wound due to the higher frequency of burns. These can come from flames, vapors, or agents such as chemicals, tar, and electricity. The diabetic foot ulcer segment is estimated to increase at a significant CAGR over the prognosis period due to the increasing number of diabetic patients. They're more prone to foot ulcers. According to data published by the American Podiatric Medical Association, in 2020, about 17% of diabetic patients developed foot ulcers, of which about 7% were hospitalized due to other ulcer-related complications and infections. In addition, diabetes is one of the leading causes of non-traumatic lower-limb amputations in the United States, and about 15-25% are diabetic patients. Hence, increasing the diabetic population in the world is expected to boost the wound care management devices market for the diabetic foot ulcer segment.

Wound Care Management Devices Market - By End User:

• Hospitals
• Clinics
• Home Care Settings

Based on the end-user, the home care settings segment is expected to witness the fastest growth rate due to the growing awareness of wound care management devices and their use. In addition, the increasing older population suffering from chronic wounds and the people who are disabled due to injuries from accidents choosing to have at-home treatment by healthcare professionals supports market growth. Furthermore, home healthcare reduces the traveling distance for the patients and helps them feel comfortable while taking treatment at home while having a fast recovery without any stress.

The hospital segment is second to the home care settings due to the increasing use of advanced hospital wound-healing devices.

Wound Care Management Devices Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Geographically, the North American wound care management devices market dominated the global market in 2021 and is estimated to sustain its stronghold for a few more years. North America is expected to dominate the global market during the forecast period, owing to the increasing prevalence of foot ulcers. The American Podiatric Medical Association (A.P.M.A.) said in 2020 that diabetes is the leading cause of non-traumatic lower-limb amputation in the United States. About 15 to 25% of patients who suffer from foot ulcers require amputation. The availability of wound care management devices online is the primary factor driving Canada's market forward. Due to increasing diabetic foot ulcer diseases in diabetic people, manufacturers are focusing on the production of different types of wound care management devices according to the severity of the wound.

The European wound care management devices market is expected to accumulate a significant market share due to the increase in accident cases. According to an article published by Deutsche Welle, around 387,500 people in Germany were injured due to traffic accidents in 2019, increasing 5,906 cases since 2017.

The wound care management devices market in the Asia Pacific is anticipated to increase its market share due to technological advancements. In addition, the market for wound care management devices in the Asia-Pacific area is expected to grow at the fastest CAGR due to the increasing number of surgeries causing injury and increasing healthcare spending. India's increasing patient death rate due to burns and wound infections is the primary factor for the market growth. An innovator in India manufactures burn-dressing devices according to the patient's needs. An advanced system was introduced in India for wound dressing with the help of increasing investment by the government. China is in a very high-income state as the manufacturer of advanced wound care devices in the world. In Japan, the number of clinical trials for manufacturing devices for wound healing has increased. Additionally, the Increasing device approvals in Japan also drive the market forward. For instance, in 2021, M.I.M.E.D.X. Group Inc. announced the approval of using an amniotic tissue as a platform for regenerative medicine by the Japanese Ministry of Health, Labor and Welfare (J.M.H.L.W.) to market E.P.I.F.I.X. in Japan.

The Latin American wound care management devices market is anticipated to witness steady growth during the forecast period. On the other hand, the wound care management devices market in the Middle East and Africa is expected to grow slowly, owing to the development of healthcare infrastructure in Latin America and the Middle East region.

KEY MARKET PARTICIPANTS:

Companies playing a leading role in the global wound care management devices market profiled in this report are Coloplast A/S (Denmark.), Baxter International Inc. (U.S.), Hollister Inc. (U.S.), MéInlycke Health Care (Sweden), 3M Company (U.S.), Covidien P.L.C. (Ireland), Ethicon Inc. (U.S.), Derma Sciences Inc. (U.S.), Convatec Healthcare B.S.A.R.L. (U.S.), Acelity L.P/ (U.S.) and 'Smith & Nephew (U.S). In addition, top companies operating in this market have adopted acquisitions and new product launches to stabilize and maximize their market share.

RECENT MARKET HAPPENINGS:

• In 2022, Smith+Nephew announced building a new R&D and manufacturing facility in the United Kingdom for Advanced Wound Management. In addition, they introduced smart glasses for the operating room to provide remote technical support for U.K. surgeons.
• In 2022, 3M company launched 3M Spunlace Extended Wear Adhesive Tape on Liner, 4576. It is attached to the skin for up to a 21-day wear time.
• In 2022, Cardinal Health launched the first surgical incise drape using the antiseptic chlorhexidine gluconate. Cardinal Health surgical drape helps in reducing the contamination risk.
• In 2022, N.M.P.A. approved 210 medical devices, including 25 Class III imported, 22 Class II, and 161 Class III domestic products.
• In June 2018, Acelity L.P. Inc. agreed to acquire Crawford. The acquisition is to enlarge its portfolio of advanced wound dressings, strengthening its position.
• In February 2018, Hollister Inc. decided to divest portions of its wound care business. The Hollister wound care product includes brands like HydroferaBlue and Endoform.
• In December 2017, Smith+Nephew introduced a handheld imaging device that instantly measures the wound surface area. The company has launched the product in Europe, one of the Hitech devices.
• In January 2017, Integra Lifesciences acquired Derma Sciences, specializing in MedTech in tissue regeneration for advanced burn and wound care.