Wound Care Products Market Analysis | 2021-2026

Market Insights

The wound care products market was estimated at USD 20.2 billion in 2020 and is likely to grow at a CAGR of 5.1% during 2021-2026 to reach USD 27.0 billion in 2026.

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Market Dynamics

Introduction

Wound care products are medical supplies and materials used to manage and treat various types of wounds, including cuts, abrasions, burns, ulcers, and surgical incisions. These products are designed to facilitate the healing process, prevent infection, reduce pain, and protect the wound from further damage.

COVID-19 Impact 

The market growth was affected when governments across geographies imposed lockdowns, resulting in trade restrictions and supply chain disruptions. Also, many non-essential medical and surgical procedures including wound treatment were halted, affecting the market growth. However, the continuous care of a chronic wound is essential to avoid any sort of infection. Thus, the demand for chronic wound care products was not affected to a greater extent than other types of wounds.

Market Drivers 

The global market growth is primarily driven by increased spending on the healthcare industry coupled with rising geriatric populations. The increasing prevalence of chronic diseases such as diabetes and cardiovascular diseases among others due to busy lifestyles and unhealthy diets is expected to propel the market growth at a significant rate during the review period. Growing emphasis on the development of advanced wound care products by the key market players is likely to create lucrative market growth opportunities.

Key Players

The following are the key players in the wound care products market (arranged alphabetically)

• 3M Health Care (The U.S),
• Acelity L.P., Inc. (The U.S),
• ConvaTec, Inc. (The U.S),
• Coloplast Corp. (Denmark),
• Derma Sciences (The U.S), and
• Integra Lifesciences Corporation (The U.S),
• Medline Industries, Inc. (The U.S),
• MPM Medical, Inc. (The U.S),
• Molnlycke Health Care (Sweden),
• Medtronic plc (Ireland).
• Organogenesis Inc. (The U.S),
• Smith and Nephew Plc. (UK),

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

End User Trends

"Hospitals and specialty wound care clinics accounted for the largest share in 2020".

Based on end users, the market has been divided into hospitals and specialty wound care clinics, long-term care facilities, and home healthcare. Hospitals and specialty wound care clinics accounted for the largest share in 2020 on account of widespread product usage and the rising number of hospitals and clinics. The long-term care facilities segment is likely to register healthy growth during the review period.

Regional Analysis

"Europe accounted for the largest market share in 2020".

The market in Europe accounted for the largest share in 2020 due to the presence of an established healthcare industry and key market players such as Smith and Nephew Plc. (U.K). Additionally, the high demand for advanced wound care products coupled with the rising geriatric population in the developed markets is another factor fuelling the product demand. The market in the Asia-Pacific region is projected to register a healthy growth rate on account of high product in developing countries including India and China with increased spending on healthcare infrastructure development.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s wound care products market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The wound care products market is segmented into the following categories.

By Type

• Collagen Products
• Antimicrobial Dressings
• Foam Dressings
• Gauze
• Hydrocolloids
• Film Dressings
• Other

By Application Type

• Acute Wounds
• Chronic Wounds
• Surgical Wounds

By End User Type

• Hospitals and Specialty Wound Care Clinics
• Long-Term Care Facilities
• Home Healthcare

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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