Wound Healing Market is Projected to Exceed USD 40.1 billion by 2031 with an 4.6% CAGR | Analysis by Transparency Market Research, Inc.

Nanotechnology and 3D printing will drive the growth of the wound healing market.

Wilmington, Delaware, United States, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The wound healing industry was worth US$ 26.9 billion in 2022. The market is expected to increase by 4.6% between 2023 and 2031, reaching US$ 40.1 billion by 2031. Researchers are investigating the possibility of producing skin substitutes and wound dressings on demand using 3D printing technology. This method enhances the accuracy and efficacy of wound care by enabling the development of patient-specific treatments. Research on tissue scaffolds and 3D-printed skin grafts is ongoing and might completely change the way wounds are treated.

Biologics and advanced therapies are being discovered and applied in wound healing at an accelerated rate. Stem cell treatments, growth factors, and regenerative medicine techniques promote the body's healing abilities. These novel treatments can greatly improve wound closure, particularly in chronic and non-healing wounds.

Smart technology integration in wound care is growing in popularity. Real-time data on the wound healing process can be obtained using smart wound dressings with sensors that can monitor multiple factors, including temperature, pH, and infection signs. In addition, wearable devices and remote monitoring tools let medical staff keep tabs on patients' progress and act quickly when needed.

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Targeted therapy, nanomaterial-based wound dressings, and enhanced medication delivery systems are all possible using nanotechnology. A therapeutic substance can be formulated into a nanoparticle to control release at a specific rate, promoting optimal healing conditions. The growing use of telemedicine and remote patient monitoring will probably impact wound care. To facilitate rapid interventions and progress tracking, patients can obtain instructions on wound care procedures, and healthcare experts can remotely assess wounds.

Global Wound Healing Market: Key Players

Leading wound healing companies are improving their marketing strategies to make their brand more visible in global markets. As part of their strategy to meet consumer demands, they are introducing new wound care products in order to provide efficient wound care. Enhancing product portfolios and maintaining profitability is possible through increased product development investments.

  • 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

Key Developments

  • In January 2023, Convatec, a global medical technology and products company, introduced ConvaFoam in the United States. With ConvaFoam, medical professionals and patients can benefit from an innovative family of foam dressings.

Key Findings of the Market Report

  • Based on wound type, chronic wounds are expected to drive demand for the wound healing market.
  • In terms of products, bandages are expected to drive wound healing market demand.
  • The global market was dominated by North America in 2022.
  • Increasing minimally invasive surgeries is driving the wound healing market value upward.

Global Wound Healing Market: Growth Drivers

  • The increased prevalence of chronic wounds worldwide. The rising incidence of diabetes, an ageing population, and lifestyle-related variables have made chronic wounds, including diabetic foot ulcers and pressure ulcers, a significant healthcare concern. Due to the growing number of patients suffering from chronic wounds, the wound care market is expanding.
  • Technological improvements in wound care products and therapies mostly drive the industry. Prolonged research and development endeavors have resulted in the launch of inventive remedies, such as growth factors, bioactive dressings, and sophisticated wound closure methods.
  • With these technologies, patients are expected to heal more quickly, experience fewer infections, and have better overall results. The market is expanding and becoming increasingly diverse as more practitioners use these innovative wound care products.
  • The wound healing market is growing as patient outcomes and healthcare quality increase. Globally, healthcare systems are highlighting how crucial it is to avoid wound complications, including infections and delayed healing, to improve patient outcomes and save expenses. Adopting advanced wound care products and therapies is driven by heightened awareness among patients and healthcare professionals, which fosters market growth.

Global Wound Healing Market: Regional Landscape

  • Wound healing is expected to be a leading market in North America. Chronic sores like diabetic foot ulcers are largely caused by diabetes, one of the major chronic diseases in North America. Diabetes is very common in the area, and its consequences can frequently result in chronic sores that need to be treated by a specialist. The healthcare industry needs advanced wound care products and therapies.
  • Continuous research and technological breakthroughs in medical devices, biotechnology, and wound care products boost the wound healing market in North America. The region has embraced advanced wound dressings, bioactive materials, growth factors, and creative wound closure methods. These technological advancements seek to minimize problems, speed up healing, and improve wound efficacy.

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Global Wound Healing Market: Segmentation

By Product

  • Dressings
  • Foam Dressings
  • Hydrocolloid Dressings
  • Hydrogel Dressings
  • Alginate Dressings
  • Collagen Dressings
  • Others
  • Bandages
  • Elastic Bandages
  • Compression Bandages
  • Adhesive Bandages
  • Liquid Bandages
  • Others
  • Topical Agents
  • Hemostatic Agents
  • Antimicrobials
  • Wound Cleansers
  • Others
  • Wound Closure Agents
  • Sutures
  • Absorbable
  • Non-absorbable
    • Adhesives & Sealants
    • Staplers
  • Manual
  • Powered
  • Strips
  • Sterile
  • Non-sterile
  • Others
  • Gauzes & Sponges
  • Sterile
  • Non-sterile
  • Tapes
  • Cloth Tapes
  • Paper Tapes
  • Silicon Tapes
  • Others
  • Therapy Devices
  • Negative Pressure Wound Therapy Devices
  • Oxygen Therapy Devices
  • Others (Electro-magnetic Wound Therapy Devices)
  • Others

By Wound Type

  • Acute Wound
  • Surgical & Traumatic Wounds
  • Burns
  • Chronic Wound
  • Infectious Wounds & Other Ischemic Wounds
  • Ulcers
  • Pressure Ulcers
  • Diabetic Foot Ulcers
  • Arterial & Venous Ulcers
  • Others

By Region

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

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