The market for wound care centers is expected to grow at a CAGR of around 6.2% from 2020 to 2027 and expected to reach the market value of around US$ 53.5 Bn by 2027.
A wound care center is a medical facility to treat wounds that do not heal. The symptoms of a non-healing wound are; if the wound not started to heal in 2 weeks, or not completely healed in 6 weeks. Some of the common types of non-healing wounds include pressure sores, surgical wounds, radiation sores, foot ulcers due to diabetes, poor blood flow, chronic bone infection (osteomyelitis), and swollen legs. Whereas, certain wounds may not heal well due to diabetes, poor circulation, nerve damage, bone infection, being inactive or immobile, weak immune system, poor nutrition, excess alcohol use, and Smoking.
According to the studies, 30% of patients with chronic wounds have experienced depressive symptoms or anxiety, whereas 50% of people with a stoma reported higher than normal levels of anxiety, and 16% have experienced mild to moderate levels of depression.
According to World Health Organization (WHO), outcomes in depression among chronic care patients can be improved by having integrated and patient-centered care in the community.
The increasing number of surgical procedures worldwide along with the growing geriatric population is driving the market growth. The growing number of conditions such as foot ulcers caused by diabetes, sun radiation sores, pressure sores, and disorders caused by bad blood circulation, particularly among population geriatric population which is prone to various disorders are supporting the growth of wound care centers worldwide. The growing admission of wound patients in care centers, as well as the growing prevalence of diabetes due to unhealthy diets and junk food, is further propelling the number of patients with urgent wound care.
On the other side, the high cost of product/service is projected to hinder the growth over the forecast period.
Segment Instance of Global Wound Care Centers Market
Hospitals leading the market with maximum revenue share in 2019
Based on the type of wound care center, the hospital segment is leading the market with maximum share (%) in terms of revenue in 2019. The increasing number of hospitals across the globe especially in developed and developing economies is further bolstering the market value. The high dependency of people on the hospitals, instead of the clinic for the chronic condition is another factor supporting the segmental market value. The huge number of hospitals across the globe as compared to the clinics is additionally bolstering the regional market value.
North America accounted for the maximum revenue share in the Wound Care Centers Market
In 2019, North America leads the market with maximum revenue share, and the region is also projected to maintain its dominance over the forecast period from 2020 to 2027. The well-established and supportive healthcare infrastructure of the region to perform the surgical procedures is further supporting the regional market value. The presence of major players in the region along with their offerings especially in the US and Canada are bolstering the regional market value. The continuous efforts made by the players to provide better treatment is additionally proliferating the market growth.
Asia Pacific is projected to exhibit fastest growth over the forecast period from 2020 to 2027
Asia Pacific is estimated to exhibit the fastest growth over the forecast period from 2020 to 2027. The developing and expanding healthcare infrastructure of the region is primarily supporting the regional market value. The major developing economies of the region including China and India are the major revenue contributors due to their developing infrastructure and high spending power of the people. The increasing spending on the infrastructural development of the hospitals and clinics is further boosting the regional market value.
Key Market Players
The players profiled in the report include Hologic, Mölnlycke Health Care AB, Oxyheal, RestorixHealth, Systagenix Wound Management Limited, Wound Care Advantage, Wound Care Specialists, Woundtech, and others
Market By Type
Market By Procedure
Negative Pressure Wound Therapy
Hyperbaric Oxygen Therapy
Market By Geography
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Rest of Latin America
Middle East & Africa
• South Africa
• Rest of Middle East & Africa
The market for wound care centers is expected to reach a market value of around US$ 53.5 Bn by 2027.
The wound care centers market is expected to grow at a CAGR of around 6.2% from 2020 to 2027.
Hospitals is the leading segment by type in the wound care centers market
The increasing number of surgical procedures worldwide, growing geriatric population, growing number of conditions such as foot ulcers caused by diabetes, sun radiation sores, and pressure sores among others are the key drivers of the global wound care centers market.
Hologic, Mölnlycke Health Care AB, Oxyheal, RestorixHealth, Systagenix Wound Management Limited, Wound Care Advantage, Wound Care Specialists, Woundtech, and others are some of the prominent players in the market.
North America held the maximum market share in the wound care centers market
Asia Pacific is expected to be the fastest growing market over the forecast period