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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"Global Wound Care Centers Market”
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.
“Wound Care Centers Market
By Type (Hospitals, Clinics, Others), By Procedure (Debridement, Negative
pressure wound therapy, Compression therapy, Hyperbaric oxygen therapy,
Specialized dressings, Infection control), By
Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of
Global Wound Care Centers Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Wound
Care Centers Market.
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