Wound Healing Market Synopsis

Wound Healing Market Size Was Valued at USD 28.1 Billion in 2023, and is Projected to Reach USD 42.1 Billion by 2032, Growing at a CAGR of 4.6% From 2024-2032.

Wound healing is a biological process that entails the restoration or regeneration of lost tissues. The wound healing process can be classified into four phases namely, the coagulation phase, the inflammatory phase, the proliferation phase and the remodeling phase. Wound dressing, feeding and general health of the patients also determine the time and rate at which the wounds will heal. In some cases, sophisticated wound care products, such as topical agents, wound ointments, and therapies, may be applied to optimize the wound healing process. There are two principal types of wound healing commonly quoted – Primary Intention, that is the clean, well-contoured wound that heals with little or no tissue loss and Secondary Intention, which is the large, open wound with tissue loss that heals by granulation and contraction and reduces in infection risk.

• An increase in the number of occurrences of population contracting the chronic diseases is expected to boost the growth of the wound healing market. In addition, the increase in the number of attempts by jurisdiction and governments to develop the healthcare systems and increase awareness of the advantages of using advanced wound care products in wound healing is also believed to boost the growth of the wound healing market.
• The factors favoring increase in growth of the wound healing business include for instance; increase in incidence of road accidents and injuries, rise in usage of developmental medications, and raise in incidences of illnesses affecting the wound healing process.
• The new advancements in the science of developed wound healing, and expanding slot in the active wound healing products will also provide opportunities in the wound healing industry. Meanwhile, emerging economies are expected to open greater opportunities in the wound healing market for manufacturers. Furthermore, the overall market of wound healing has been impacted by the COVID-19 pandemic in a negative way.
• In the wound healing market, most of the manufacturing companies experience cessation of their key players and manufacturing procedures due to the virus outbreak. In addition, enterprise activities have been suspended since new government overriding, which particularly affects revenue shift of the wound healing market.

Wound Healing Market Trend Analysis

Increase in Cases of Traumatic Injuries

• Acute injuries occur due to a specific act that leads to bodily damage. Traumatic injuries include breaks or fractures, head injuries like concussion, bruises, and wounds or burns. Seeking early medical care is important due to enhanced diagnosis, treatment, and healing. Traffic accidents are responsible for the most traumatic injuries of young persons and children. There is low awareness of road safety on the part of drivers, as well as a rise in traffic jam instances as contributing factors to the escalating accident levels across the world. Therefore, rising occurrences of traumatic injuries are enhancing the market development of wound healing.
• As per WHO report which was issued in June 2022, globally about 1. Every year, 3 million people die due to road traffic accidents. Increase in the cases of surgical procedures that require less invasive procedures is also boosting the wound healing market value. Minimally invasive surgeries imply that there are fewer cuts made hence resulting in smaller injuries. These wounds must be treated well not to lead to severe infections.
• In January 2023, the National Institutes of Health report revealed that surgical site infection may occur in up to 0.5% to 3% of patients who undergo surgery; therefore, increasing the need for proper wound closure.

Growth in Investments in Research and Development

• Wound healing depends on the use of enhanced biomaterial, regenerative medicine, or tissue repair processes. To promote advanced wound healing, healthcare organizations are investing considerable resources in their research and development efforts. Some of the trends that help in the growth of the wound healing market include technological developments and increased usage of regenerative tissues. Rising incidence of chronic diseases especially among the geriatric population is a major factor contributing to the growth of the wound healing market. Diabetes is among the leading causes of chronic injuries in elderly population.
• National Center for Biotechnology Information revealed that incidence of diabetic foot ulcers globally was in between 9. 1 million and 26. 1 million. Moreover, life time risk for developing a diabetic foot ulcer in diabetic patients was found to be ranging from 15 to 25 percent.

Wound Healing Market Segment Analysis:

Wound Healing Market Segmented based on Product Type, Application and End User

By Application, chronic wound segment is expected to dominate the market during the forecast period

• Depending on the application, the type of wound care market is split into the chronic wound type and acute wound type. Among the segments mentioned, the chronic wounds segment comprised the largest share of the market in 2023. These ulcers are a result of increased percentage of patient base with diabetic foot ulcers and pressure ulcers and the rise in expenses on the treatment of such ailments.
• A recent report by IDF in 2021 reflected that 571 million people were suffering from diabetes worldwide and this number will rise to 643 million by 2030 and 783 million by 2045.

By End User, Hospitals segment held the largest share in 2023

• According to the end user the market can be segmented into hospital, clinics, home cares, and others. The hospitals segment dominated this market in 2023 due to rising multispecialty hospitals having complete sub departments for wound closure particularly in the emerging economies.
• Among the two application segments, namely homecare settings and other settings, the former is anticipated to exhibit a higher compound annual growth rate between 2018 and 2023. This is attributed to the growth in prevalence of chronic wounds among the geriatric population and growing trend of patients’ preference towards home care based treatments.
• The clinics segment and others are forecast to record high compound annual growth rate because of the rising interest by players in the public and private domain for investing in small and medium clinics. There is also a rise in the healthcare facility’s long-term care centres to enhance the capacity of the healthcare system globally, which in turn driving the segment.

Wound Healing Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• North America was the largest market in the years considered, particularly in the year 2022. Higher growth in road accidents and enhanced accessibility to medical service provider is expected to have a positive impact on the global wound healing market during the prediction period. Increased rate in growth of the geriatric population is also leading to increased incidences of chronic diseases resulting in injuries.
• North America is leading the wound healing market owing to increasing incidences to severe and chronic wounds along with the presence of developed healthcare structures and proper reimbursement policies by the governments of developed countries are also expected to bolster the growth of the same in the near future. The demand in the Asia Pacific region is expected to depict a significantly high growth rate because of the factors such as a rising population of geriatrics, increasing surgical procedures, enhanced expenditure on heath, expansion of the health care facilities and services, and a vast patient population.

Active Key Players in the Wound Healing Market

• Baxter
• Medical Devices Business Services, Inc.
• Mölnlycke Health Care AB
• 3M
• Integra LifeSciences
• Smith & Nephew
• Cardinal Health
• B. Braun SE
• Convatec Group PLC
• Svenska Cellulosa Aktiebolaget SCA (publ)
• Coloplast Group
• Hill-Rom Holdings, Inc.
• Medline Industries, Inc.
• Hollister Incorporated, Other Active Players

Key Industry Developments in the Wound Healing Market:

• In June 2023, Evonik company JeNaCell offering high quality biomaterials launched the wound dressing epicite balance to the German market. Ideally and especially suitable for the treatment of venous leg ulcer, soft tissue injuries, arterial leg ulcer, pressure ulcer and diabetic foot ulcer which are the low to moderate exudating type of chronic wounds.
• In January 2023, a global medical products and technologies company Convatec introduced its ConvaFoam in the United States market It is a family of sophisticated foam dressings that caters to the needs of medical professionals and their patients.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Wound Healing Market by Product Type
 4.1 Wound Healing Market Snapshot and Growth Engine
 4.2 Wound Healing Market Overview
 4.3 Dressings
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Dressings: Geographic Segmentation Analysis
 4.4 Bandages
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Bandages: Geographic Segmentation Analysis
 4.5 Tropical Agents
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Tropical Agents: Geographic Segmentation Analysis
 4.6 Wound Closure Agents
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 Wound Closure Agents: Geographic Segmentation Analysis
 4.7 Gauges
  4.7.1 Introduction and Market Overview
  4.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.7.3 Key Market Trends, Growth Factors and Opportunities
  4.7.4 Gauges: Geographic Segmentation Analysis
 4.8 Sponges
  4.8.1 Introduction and Market Overview
  4.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.8.3 Key Market Trends, Growth Factors and Opportunities
  4.8.4 Sponges: Geographic Segmentation Analysis
 4.9 Tapes
  4.9.1 Introduction and Market Overview
  4.9.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.9.3 Key Market Trends, Growth Factors and Opportunities
  4.9.4 Tapes: Geographic Segmentation Analysis
 4.10 Therapy Devices
  4.10.1 Introduction and Market Overview
  4.10.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.10.3 Key Market Trends, Growth Factors and Opportunities
  4.10.4 Therapy Devices: Geographic Segmentation Analysis

Chapter 5: Wound Healing Market by Application
 5.1 Wound Healing Market Snapshot and Growth Engine
 5.2 Wound Healing Market Overview
 5.3 Chronic Wounds
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Chronic Wounds: Geographic Segmentation Analysis
 5.4 Acute Wounds
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Acute Wounds: Geographic Segmentation Analysis

Chapter 6: Wound Healing Market by End User
 6.1 Wound Healing Market Snapshot and Growth Engine
 6.2 Wound Healing Market Overview
 6.3 Hospitals
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Hospitals: Geographic Segmentation Analysis
 6.4 Clinics
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Clinics: Geographic Segmentation Analysis
 6.5 Homecare Settings
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Homecare Settings: Geographic Segmentation Analysis
 6.6 Others
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Others: Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Wound Healing Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions
  
 7.2 BAXTER
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 MEDICAL DEVICES BUSINESS SERVICES INC
 7.4 MÖLNLYCKE HEALTH CARE AB
 7.5 3M
 7.6 INTEGRA LIFESCIENCES
 7.7 SMITH & NEPHEW
 7.8 CARDINAL HEALTH
 7.9 B BRAUN SE
 7.10 CONVATEC GROUP PLC
 7.11 SVENSKA CELLULOSA AKTIEBOLAGET SCA
 7.12 COLOPLAST GROUP
 7.13 HILL-ROM HOLDINGS INC
 7.14 MEDLINE INDUSTRIES INC
 7.15 HOLLISTER INCORPORATED
 7.16 OTHER ACTIVE PLAYERS

Chapter 8: Global Wound Healing Market By Region
 8.1 Overview
 8.2. North America Wound Healing Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Product Type
   8.2.4.1 Dressings
   8.2.4.2 Bandages
   8.2.4.3 Tropical Agents
   8.2.4.4 Wound Closure Agents
   8.2.4.5 Gauges
   8.2.4.6 Sponges
   8.2.4.7 Tapes
   8.2.4.8 Therapy Devices
  8.2.5 Historic and Forecasted Market Size By Application
   8.2.5.1 Chronic Wounds
   8.2.5.2 Acute Wounds
  8.2.6 Historic and Forecasted Market Size By End User
   8.2.6.1 Hospitals
   8.2.6.2 Clinics
   8.2.6.3 Homecare Settings
   8.2.6.4 Others
  8.2.7 Historic and Forecast Market Size by Country
   8.2.7.1 US
   8.2.7.2 Canada
   8.2.7.3 Mexico
 8.3. Eastern Europe Wound Healing Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Product Type
   8.3.4.1 Dressings
   8.3.4.2 Bandages
   8.3.4.3 Tropical Agents
   8.3.4.4 Wound Closure Agents
   8.3.4.5 Gauges
   8.3.4.6 Sponges
   8.3.4.7 Tapes
   8.3.4.8 Therapy Devices
  8.3.5 Historic and Forecasted Market Size By Application
   8.3.5.1 Chronic Wounds
   8.3.5.2 Acute Wounds
  8.3.6 Historic and Forecasted Market Size By End User
   8.3.6.1 Hospitals
   8.3.6.2 Clinics
   8.3.6.3 Homecare Settings
   8.3.6.4 Others
  8.3.7 Historic and Forecast Market Size by Country
   8.3.7.1 Bulgaria
   8.3.7.2 The Czech Republic
   8.3.7.3 Hungary
   8.3.7.4 Poland
   8.3.7.5 Romania
   8.3.7.6 Rest of Eastern Europe
 8.4. Western Europe Wound Healing Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Product Type
   8.4.4.1 Dressings
   8.4.4.2 Bandages
   8.4.4.3 Tropical Agents
   8.4.4.4 Wound Closure Agents
   8.4.4.5 Gauges
   8.4.4.6 Sponges
   8.4.4.7 Tapes
   8.4.4.8 Therapy Devices
  8.4.5 Historic and Forecasted Market Size By Application
   8.4.5.1 Chronic Wounds
   8.4.5.2 Acute Wounds
  8.4.6 Historic and Forecasted Market Size By End User
   8.4.6.1 Hospitals
   8.4.6.2 Clinics
   8.4.6.3 Homecare Settings
   8.4.6.4 Others
  8.4.7 Historic and Forecast Market Size by Country
   8.4.7.1 Germany
   8.4.7.2 UK
   8.4.7.3 France
   8.4.7.4 Netherlands
   8.4.7.5 Italy
   8.4.7.6 Russia
   8.4.7.7 Spain
   8.4.7.8 Rest of Western Europe
 8.5. Asia Pacific Wound Healing Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Product Type
   8.5.4.1 Dressings
   8.5.4.2 Bandages
   8.5.4.3 Tropical Agents
   8.5.4.4 Wound Closure Agents
   8.5.4.5 Gauges
   8.5.4.6 Sponges
   8.5.4.7 Tapes
   8.5.4.8 Therapy Devices
  8.5.5 Historic and Forecasted Market Size By Application
   8.5.5.1 Chronic Wounds
   8.5.5.2 Acute Wounds
  8.5.6 Historic and Forecasted Market Size By End User
   8.5.6.1 Hospitals
   8.5.6.2 Clinics
   8.5.6.3 Homecare Settings
   8.5.6.4 Others
  8.5.7 Historic and Forecast Market Size by Country
   8.5.7.1 China
   8.5.7.2 India
   8.5.7.3 Japan
   8.5.7.4 South Korea
   8.5.7.5 Malaysia
   8.5.7.6 Thailand
   8.5.7.7 Vietnam
   8.5.7.8 The Philippines
   8.5.7.9 Australia
   8.5.7.10 New Zealand
   8.5.7.11 Rest of APAC
 8.6. Middle East & Africa Wound Healing Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Product Type
   8.6.4.1 Dressings
   8.6.4.2 Bandages
   8.6.4.3 Tropical Agents
   8.6.4.4 Wound Closure Agents
   8.6.4.5 Gauges
   8.6.4.6 Sponges
   8.6.4.7 Tapes
   8.6.4.8 Therapy Devices
  8.6.5 Historic and Forecasted Market Size By Application
   8.6.5.1 Chronic Wounds
   8.6.5.2 Acute Wounds
  8.6.6 Historic and Forecasted Market Size By End User
   8.6.6.1 Hospitals
   8.6.6.2 Clinics
   8.6.6.3 Homecare Settings
   8.6.6.4 Others
  8.6.7 Historic and Forecast Market Size by Country
   8.6.7.1 Turkey
   8.6.7.2 Bahrain
   8.6.7.3 Kuwait
   8.6.7.4 Saudi Arabia
   8.6.7.5 Qatar
   8.6.7.6 UAE
   8.6.7.7 Israel
   8.6.7.8 South Africa
 8.7. South America Wound Healing Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Product Type
   8.7.4.1 Dressings
   8.7.4.2 Bandages
   8.7.4.3 Tropical Agents
   8.7.4.4 Wound Closure Agents
   8.7.4.5 Gauges
   8.7.4.6 Sponges
   8.7.4.7 Tapes
   8.7.4.8 Therapy Devices
  8.7.5 Historic and Forecasted Market Size By Application
   8.7.5.1 Chronic Wounds
   8.7.5.2 Acute Wounds
  8.7.6 Historic and Forecasted Market Size By End User
   8.7.6.1 Hospitals
   8.7.6.2 Clinics
   8.7.6.3 Homecare Settings
   8.7.6.4 Others
  8.7.7 Historic and Forecast Market Size by Country
   8.7.7.1 Brazil
   8.7.7.2 Argentina
   8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research