Wound Management Market (By Wound Type: Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, Surgical & Traumatic Wounds, Burns, Other Wounds; By Treatment: Bioengineered Skin Substitutes, Hyperbaric Oxygen Therapy, Plastic Surgical Techniques, Specialized Dressings And Therapies, Transcutaneous Oxygen Testing, Vascular Surgery, Negative Pressure Wound Therapy (NPWT), Platelet-Rich Plasma (PRP) Treatments, Stimulation Of Fibroblast Cells With Radiofrequency, Ultrasound For Debridement; By End-User: Hospitals & Clinics, Long-Term Care Facilities, Home Care Settings) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027

The global wound management market is expected to grow at a CAGR of around 4.7% from 2020 to 2027 and expected to reach the market value of around US$ 26.2 Bn by 2027.

A wound is described as any event that causes the tissue's normal architecture and function to be disrupted. A closed wound, such as a bruise or sprain, or an open wound, such as an abrasion, laceration, avulsion, or a ballistic or surgical wound, are examples. A chronic wound may develop from even a minor injury when the skin and wound management processes are disrupted by underlying disease. Open wounds account for approximately 4.5% of annual emergency department (ED) visits, according to SAEM estimates. Patients who come to the emergency department with wounds are normally concerned regarding chronic wounds.

Government support propels wound management market globally

The University of Texas (UT) Southwestern Medical Center treats complicated and non-healing wounds on every part of the body caused by diabetes, vascular disease, and other health issues. University of Texas Southwestern Medical Center also runs a project called Wound Care Service Program. The program offers leading-edge treatment for diabetes-related wounds coupled with prevention management for the growing patient pool. Also, offer emergency department (ED) in the hospital for the outpatient clinic that provides continuity of care. UT Southwestern conducts clinical trials that offer patients access to wound care treatments and research that is highly specialized. Apart from that, the State of Victoria runs the "Connected Wound Care Project". The connected wound care project is a successful collaboration between the regional Wounds Victoria Clinical Nurse Consultants, the Royal District Nursing Service, and the department. The project is highly focused on educational and information resources to assist nurses and the people for preventing and managing wounds.

Advancements in treatment options bolster the growth of wound management market globally

Bioengineered skin replacements, hyperbaric oxygen therapy, minimally invasive procedures, plastic surgical methods, advanced dressings and treatments, transcutaneous oxygen monitoring, and vascular surgery are among the specialized wound equipment and broad spectrum of treatment and support for any patient requiring a wide range of intervention and testing. The body is exposed to 100% oxygen at a pressure higher than average in hyperbaric oxygen therapy. Diabetics, most of whom are elderly and suffering from chronic wounds, are gradually undergoing hyperbaric therapy. Twenty outpatient sessions can bring a hospital US$ 9,000 as per the estimates released by the KAISER FAMILY FOUNDATION undergoing hyperbaric therapy. Additionally, bioengineered skin replacements have risen in popularity in the wound care market globally. Furthermore, recent developments in skin tissue engineering have a high potential for improving clinical outcomes for chronic and acute wound care. As a result, the ultimate goal of skin tissue engineering is to create a complex scar-free skin replacement that can be transplanted in large amounts with a low risk of failure by the host's body in only one surgical procedure. Innovative treatments and therapies are another treatment choice for wound management. Negative pressure wound therapy, platelet-rich plasma (PRP) therapies, radiofrequency stimulation of fibroblast cells, and ultrasound for debridement and bacterial reduction are among them.

Market Trends

Immunomodulatory biomaterials for early transplant integration and wound healing/management

The incidence of postoperative morbidity and graft failure is decreasing due to ongoing advancements in transplantation surgical procedures and advancements in immunosuppressive therapies. The distribution of immunomodulators is one tool for wound care that has received a lot of attention in the global market. These immunomodulators aid to accelerate wound healing and tissue integration by attracting and organizing anti-inflammatory, pro-regenerative immune cells on the local level. These immune cells help to promote tissue regeneration and immunity by suppressing immune activation and cytokine production of factors that trigger pathologic inflammation and rejection.

Segmentation Analysis

Wound management market is segmented based on wound type, treatment, and end-user. Based on wound type, the market is segmented based on diabetic foot ulcers, pressure ulcers, venous leg ulcers, surgical & traumatic wounds, burns, and other wounds. By treatment, the wound management market is segmented based on bioengineered skin substitutes, hyperbaric oxygen therapy, plastic surgical techniques, specialized dressings and therapies, transcutaneous oxygen testing, vascular surgery, negative pressure wound therapy (NPWT), platelet-rich plasma (PRP) treatments, stimulation of fibroblast cells with radiofrequency, and ultrasound for debridement. By end-user, the market is segmented based on hospitals & clinics, long-term care facilities, and home care settings.

Diabetic foot ulcers have gained a foothold in the wound management market globally, relying on wound type. Diabetic Foot (DF) is one of the most common admission complications, putting significant medical and financial pressure on the healthcare system. Any person with diabetes's lifetime risk of developing a foot ulcer is as high as 25%, and it is the most popular cause for diabetic patient hospital stay (about 30%) and consumes about 20% of overall healthcare costs, which is more than any other diabetic complication.

Bioengineered skin tissue is expected to dominate the global wound management market based on treatment. Bioengineered skin tissue has evolved over the years from individual skin cell applications to cell-scaffold combinations for the care, healing, and closure of acute and chronic skin wounds. These significant advancements help in the reduction of morbidity and mortality associated with both acute and chronic wounds. Hospitals & clinics as end-users would drive the global wound management market upward. This can be attributed to higher patient satisfaction, better care quality, and increased caregiver efficiency. Furthermore, for acute cases, the use of advanced skin treatments and therapies is high in hospitals and healthcare providers, making them the largest segment.

Regional Overview

The increasing incidence of sports injuries, road accidents, and the existence of a wide pool of well-known players in this region have a positive impact on wound management in North America. Additionally, availability of skilled professionals and consistent improvement witnessed in healthcare infrastructure are the stimulating factors that drive the wound management market till the forecast period. The Asia-Pacific region, on the other hand, is projected to have the fastest growing regional market for wound management. Medical tourism is increasingly in emerging economies such as India, China, and Japan, which has a positive impact on the wound management market's ability to achieve its full potential.

Competitive Analysis

The prominent players involved in global wound management market involve Johnson & Johnson Services, Inc., ConvaTec Group PLC, Integra Lifesciences Corporation, Mölnlycke Health Care, Smith & Nephew plc, Acelity L.P. Inc., Coloplast A/S, PAUL HARTMANN AG, and among others

Market Segmentation

Market By Wound Type
Diabetic Foot Ulcers
Pressure Ulcers
Venous Leg Ulcers
Surgical & Traumatic Wounds
Burns
Other Wounds

Market By Treatment
Bioengineered Skin Substitutes
Hyperbaric Oxygen Therapy
Plastic Surgical Techniques
Specialized Dressings And Therapies
Transcutaneous Oxygen Testing
Vascular Surgery
Negative Pressure Wound Therapy (NPWT)
Platelet-Rich Plasma (PRP) Treatments
Stimulation Of Fibroblast Cells With Radiofrequency
Ultrasound For Debridement

Market By End-User
Hospitals & Clinics
Long-Term Care Facilities
Home Care Settings

Market By Geography

North America
•    U.S.
•    Canada

Europe
•    U.K.
•    Germany
•    France
•    Spain
•    Rest of Europe

Asia-Pacific
•    China
•    Japan
•    India
•    Australia
•    South Korea
•    Rest of Asia-Pacific

Latin America
•    Brazil 
•    Mexico
•    Rest of Latin America

Middle East & Africa
•    GCC
•    South Africa
•    Rest of Middle East & Africa