Market Size of US Wound Care Management Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.39 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
US Wound Care Management Devices Market Analysis
The United States Wound Care Management Market size is expected to grow from USD 4,708.16 million in 2023 to USD 5,562.17 million by 2028, registering a CAGR of 3.39% during the forecast period (2023-2028).
The COVID-19 pandemic had a significant impact on the healthcare systems, with substantial consequences not only for COVID-19-infected patients but also for others. The severity of the pandemic resulted in the cancellation of wound treatment and wound care procedures to manage and reserve resources. In addition, due to the pandemic and restrictions, many hospitals and specialty clinics temporarily closed their wound care departments. For instance, in a survey published by the International Wound Journal in December 2021, it was observed that health services spending in the United States had been reduced by 2.4% during the pandemic compared to the previous years. In addition, as per the same source, patient visits to ambulatory care sites such as outpatient centers have decreased by 60% during the initial phase of the pandemic. Thus, reduced patient visits to wound care centers have severely impacted the market growth. However, with the resumed services and upliftment of COVID-19 restrictions coupled with the increased hospital and wound care visits, the demand for effective treatment for faster wound healing is likely to increase, which is expected to increase the need for the studied market during the coming years.
The market growth in the United States is the rising aging population, the growing number of surgical procedures, and the increasing incidences of chronic wounds, ulcers, and diabetic ulcers.
The rising cases of pressure ulcers, the rise in accident cases, and burn injuries across the United States are expected to spur the market's growth. For instance, according to the data published by the National Pressure Injury Advisory Panel (NPIAP) in January 2021, around 2.5 million people are reported annually with pressure ulcers in the United States. In addition, as per the report published by the American Burn Association in February 2021, more than 400,000 people receive burn injury treatment annually in the United States. Thus, due to such instances, the demand for wound care products is anticipated to gain demand and drive the studied market growth during the forecast period.
Furthermore, the increasing focus of the market players on developing effective wound care dressing and solutions contributes to the market's growth. For instance, in October 2021, RedDress and MediGroup partnered to provide the members of MediGroup with RedDress' cutting-edge ActiGraft system for wound treatment. ActiGraft aims to deliver an affordable and productive wound solution to MediGroup's members to help improve the health and lives of patients with chronic, non-healing wounds, including diabetic foot ulcers, pressure injuries, venous ulcers, traumatic wounds, and post-surgical wounds. Thus, such developments are predicted to fuel the market's growth studied.
However, the concerns with stringent regulations, reimbursement policies, and high treatment costs will likely restrain the market growth over the forecast period.
US Wound Care Management Devices Industry Segmentation
As per the report's scope, wound management products are majorly used to treat wounds. Wounds and injuries are common afflictions that affect billions of people worldwide. The products are highly resistant to environmental inhibitors and foreign particles and are used by a nurse under the physician's orders and supervision for many reasons. The United States Wound Care Management Market is segmented by Product (Wound Care and Wound Closure) and Wound Type (Chronic Wound and Acute Wound). The report offers the value (in USD) for the above segments.
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US Wound Care Management Market Size Summary
The United States wound care management devices market is poised for growth, driven by factors such as an aging population, an increase in surgical procedures, and a rise in chronic wounds, ulcers, and diabetic foot ulcers. The market experienced a setback during the COVID-19 pandemic due to the cancellation of wound treatment procedures and reduced patient visits to care centers. However, with the resumption of services and the lifting of restrictions, there is an anticipated increase in demand for effective wound healing treatments. The market is further bolstered by the rising cases of pressure ulcers, accident-related injuries, and burn injuries, which are expected to drive the demand for wound care products. Additionally, the focus of market players on developing advanced wound care dressings and solutions, such as the partnership between RedDress and MediGroup, is contributing to the market's expansion.
The suture wound closure segment is expected to witness significant growth due to the increasing number of surgeries and the prevalence of chronic wounds and ulcers. The adoption of absorbable sutures, which offer better patient satisfaction and cosmesis, is on the rise, further fueling segment growth. The growing incidence of diabetic foot ulcers, linked to the rising number of diabetes cases in the United States, is also anticipated to drive demand for wound care management products. The competitive landscape of the market features major players like 3M Company, B Braun SE, and Johnson & Johnson, who are continuously innovating and launching new products to meet the evolving healthcare needs. Recent advancements, such as 3M Health Care's FDA-cleared Veraflo Therapy and Convatec's ConvaFoam dressings, highlight the ongoing efforts to enhance wound management and promote healing.
US Wound Care Management Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Incidences of Chronic Wounds, Ulcers and Diabetic Ulcers
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1.2.2 Increase in the Number of Surgical Procedures
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1.2.3 Rising Aging Population
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1.3 Market Restraints
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1.3.1 Concerns with Stringent Regulations and Reimbursement Policies
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1.3.2 High Treatment Costs
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Buyers/Consumers
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1.4.2 Bargaining Power of Suppliers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD)
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2.1 By Product
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2.1.1 Wound Care
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2.1.1.1 Dressings
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2.1.1.2 Wound Care Devices
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2.1.1.3 Topical Agents
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2.1.1.4 Other Wound Care Products
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2.1.2 Wound Closure
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2.1.2.1 Suture
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2.1.2.2 Surgical Staplers
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2.1.2.3 Tissue Adhesive, Strips, Sealant, and Glue
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2.2 By Wound Type
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2.2.1 Chronic Wound
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2.2.1.1 Diabetic Foot Ulcer
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2.2.1.2 Pressure Ulcer
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2.2.1.3 Venous Ulcer
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2.2.1.4 Other Chronic Wounds
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2.2.2 Acute Wound
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2.2.2.1 Surgical Wounds
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2.2.2.2 Burns
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2.2.2.3 Other Acute Wounds
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US Wound Care Management Market Size FAQs
What is the current United States Wound Care Management Market size?
The United States Wound Care Management Market is projected to register a CAGR of 3.39% during the forecast period (2024-2029)
Who are the key players in United States Wound Care Management Market?
3M Company, ConvaTec Group PLC, Johnson and Johnson, Smith & Nephew and Medtronic are the major companies operating in the United States Wound Care Management Market.
