Wound Care Centers Market to Grow with a CAGR of 4.59% through 2028

Increasing awareness and education and expanding healthcare infrastructure is expected to drive the Global Wound Care Centers Market growth in the forecast period, 2024-2028.

 According to TechSci Research report, “Wound Care Centers Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Wound Care Centers Market stood at USD 41.83 billion in 2022 and is anticipated to grow with a CAGR of 4.59% in the forecast period, 2024-2028. This can be attributed to regulatory support and quality standards. The wound care industry is subject to stringent regulations and quality standards to ensure patient safety and the efficacy of treatments. This regulatory oversight has fostered confidence in the services offered by wound care centers, further driving their growth.

Furthermore, collaboration between wound care centers and other healthcare providers is becoming more common. Integrated care models that span hospitals, clinics, home healthcare, and primary care are being established. Such collaborations ensure a continuum of care for patients with wounds and help in addressing the complex healthcare needs of these individuals.

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According to the 2019 Hospital Statistics report from the American Hospital Association, the total revenue generated by hospitals from outpatient services reached USD 472 billion in 2017, while revenue from inpatient services amounted to USD 498 billion. The proportion of revenue coming from inpatient services increased from 83% in 2013 to 95% in 2017. This rising trend in the admission of patients with wound-related issues to healthcare facilities is expected to lead to an increased demand for services, thereby driving the market's growth during the forecast period.

Additionally, the escalating prevalence of diabetes is anticipated to be a significant market driver in the coming years. According to the International Diabetes Federation, around 537 million adults aged 20-79 were affected by diabetes in 2021, and this number is projected to surpass 783 million by 2045. Diabetic patients often experience slow-healing wounds, which can lead to complications ranging from localized infections to life-threatening conditions such as tissue or bone infections. For example, diabetic foot ulcers are expected to afflict 1 in 4 diabetic patients, which can progress to the point of requiring foot amputation. The American Diabetes Association reports approximately 154,000 diabetes-related amputations in the United States.

Chronic wounds, including pressure ulcers, diabetic foot ulcers, and leg ulcers, are prevalent issues, particularly among the elderly population. The Journal of the German Society of Dermatology indicates that the number of people with venous leg ulcers exceeds those with pressure ulcers. Venous leg ulcers resulting from venous hypertension necessitate prolonged stays in healthcare facilities. Studies suggest that one in 170 adults is affected by venous leg ulcers. Thus, the increasing prevalence of leg ulcers is expected to stimulate the growth of the wound care center market in the future. According to a report published by the National Library of Medicine (NLM), the annual incidence of diabetic foot ulcers globally ranges from 9.1 to 26.1 million cases.

Moreover, the rising number of long-term care patients in the United States is anticipated to be a driving force for the market in the forecast period. Long-term care, which is insurance-based, has seen significant growth due to the increasing number of elderly patients. The American Affairs Journal reports that approximately 11 million patients currently utilize long-term care, a number expected to double by the end of 2050. Developed economies have a high population of individuals aged over 85, which in turn increases the incidence and prevalence of chronic conditions.

The Global Wound Care Centers Market is segmented into type, procedure, regional distribution, and company.

Based on its type, the healthcare sector's hospitals category secured the largest portion of revenue in 2022. This was primarily due to the presence of well-established healthcare facilities and an expanding patient base in developed economies. Additionally, the anticipated growth in the number of professional caregivers and hospital staff is poised to stimulate the wound care center market in the future. According to Makeshift, there were approximately 5.7 million individuals employed in U.S. hospitals.

In the coming forecast period, the clinic segment is expected to exhibit the highest CAGR. This growth can be attributed to patients' strong preference for clinics, driven by concerns about the increasing incidence of hospital-acquired infections (HAIs). According to the Centers for Disease Control (CDC), approximately 1.7 million people fall victim to HAIs annually, with more than 99,000 patients succumbing to these infections in the U.S. This number surpasses the fatalities caused by wounds resulting from radiation, car accidents, and other factors. Furthermore, the proliferation of wound care clinics and specialists is anticipated to propel the growth of this segment. Patients find these clinics to be well-equipped and easily accessible for the treatment of ulcerative wounds and other long-term wound-related issues.

Based on procedure, the segment specializing in advanced wound dressings dominated the revenue share in 2022 and is projected to demonstrate the swiftest CAGR during the forecast period. This trend can be attributed to the continuous introduction of novel and effective products, including biological skin substitutes and intricate dressing solutions. The increasing incidence of burn cases and a rising number of burn victims are expected to drive the growth of this segment, primarily due to the escalating utilization of skin substitute procedures. Skin substitutes offer rapid wound healing, are suitable for less vascularized wound beds, enhance the dermal component of healed wounds, mitigate factors that hinder wound healing, and minimize subsequent scarring. These factors are anticipated to generate heightened demand for skin substitutes within healthcare facilities.

Furthermore, negative pressure wound therapy is predicted to experience substantial growth throughout the forecast period, primarily owing to its expanding application in the management of both chronic and acute wounds within care centers. Negative pressure wound therapy, also recognized as vacuum-assisted wound closure, consistently or intermittently applies sub-atmospheric pressure to the wound surface. It's noteworthy that this approach also holds potential benefits in veterinary medicine. Nonetheless, its application is limited to specific wound types due to the ongoing need for further clinical evidence to support its efficacy.

 Major companies operating in Global Wound Care Centers Market are:

• Hologic Inc
• Woundtech
• Oxyheal Health Group Inc
• Wound Care Advantage, LLC.
• Wound Care Specialists, LLC
• Restorix Health Inc
• Systagenix Wound Management Ltd
• Molnlycke Health Care AB

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“The global wound care centers market is evolving to meet the changing needs and expectations of patients and healthcare providers. Telewound care services, AI and machine learning, advanced wound dressings, personalized approaches, regenerative medicine, and patient-centric care are driving innovation in the field. As these trends continue to shape the market, patients can expect more accessible, effective, and sustainable wound care solutions, while healthcare professionals can look forward to improved outcomes and enhanced quality of care. Keeping a watchful eye on these trends is crucial for staying at the forefront of the evolving wound care landscape,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.