Top 5 key Players in the Wound Care Market: Emerging Market Trends And Growth Insights

Introduction

Wound care market refers to the product and services for managing wounds, preventing infection, and promoting healing. Wound care is the process of treating wounds, such as cleaning, dressing, and managing infection. It also involves removing dead tissue and providing instructions on how to care for the wound. The market is further comprising of increasing adoption of regenerative medicine and advancements in products such as dressings, devices, biological skin substitutes, sutures, and staplers. The need for wound care products and services is being driven by a growing population with an increased knowledge of healthcare needs, rapid urbanization, and improved healthcare infrastructure. The market is also growing as a result of an increase in surgical operations and the incidence of chronic illnesses. Furthermore, the market for wound care in these areas is being supported by government programs aimed at improving healthcare affordability and accessibility. The ability to invest in cutting-edge wound care solutions is growing as economies expand, creating a favorable environment for market expansion in developing nations.     

 

Key Market Insights

The Global Wound Care Market Size is expected to grow from USD 21.2 Billion in 2023 to USD 37.5 Billion by 2033, at a CAGR of 5.87% during the forecast period 2023-2033. The increasing cases of chronic diseases and surgical procedures as well as need for the advanced wound care solutions are significantly driving the global wound care market. 

 

Emerging Market Trend: Advanced wound care solutions

Advanced wound care products includes alginates, hydrogels, hydrocolloids, and film and foam dressings keep the wound hydrated to promote quick healing. Patients suffering from chronic wounds can find relief owing to the latest wound care products’ with affordability and accessibility. Surgical procedures often cause tissue damage, extreme bleeding, or wound infections. By reducing wound bacterial colonization and infection, the use of advanced wound care products such as honey wound dressings, which are packed with antimicrobial compounds, has become a viable option to hasten the healing process.

 

List of Key Companies

• Smith & Nephew
• 3M
• ConvaTec Inc.
• Cardinal Health
• Coloplast A/S
• Mölnlycke Health Care AB
• Medtronic
• PAUL HARTMANN AG
• Johnson & Johnson Services, Inc.
• Organogenesis
• Others

 

Top 5 key Players in the Wound Care Market

 

• Smith & Nephew

Smith & Nephew is a British multinational medical equipment manufacturing company headquartered in Watford, England. The company is a global manufacturer of advanced wound management products and other therapy products. More than 100 nations sell its products. It is a part of the FTSE 100 Index and is traded on the London Stock Exchange. In October 2024, Smith+Nephew, the global medical technology company, is announced that its RENASYS EDGE Negative Pressure Wound Therapy (NPWT) System has won the Red Dot Award for Design Concept 2024 in the Medical Devices and Technology Category, recognizing its intuitive pairing of NPWT housed in a patient-friendly design.  

 

• Mölnlycke Health Care AB

Mölnlycke Health Care AB is a Swedish medical device company headquartered in Gothenburg and active internationally. The company manufactures and sells wound care and single-use surgical products and is a service provider to the healthcare sector. The wound care division includes dressings, compression products and skin care products and emollients. The company generated a revenue of USD 970.2 million from this segment in 2020. In July 2024, Mölnlycke Health Care, announced an investment of US $15m in MediWound Ltd., a global leader in next-generation enzymatic therapeutics focused on non-surgical wound debridement, through a definitive share purchase agreement in a private investment in public equity (PIPE).

 

• ConvaTec Inc.

ConvaTec Inc. is a medical products and technologies company based in London, England, offering products and services in the areas of advanced wound care, ostomy care, continence care and infusion care. It is the fourth-largest company in the market with a 7% market share. The company generated a revenue of USD 546.8 million from this market in 2019. In March 2023, Convatec received clearance from the U.S. Food and Drug Administration for its InnovaBurn placental extracellular matrix medical device for management of complex surgical wounds and burns, including partial-thickness second-degree burns.

 

• Organogenesis

Organogenesis is a leading regenerative medicine company focused on the development, manufacture and commercialization of solutions for the advanced wound care and surgical and sports medicine markets. Organogenesis offers a comprehensive portfolio of innovative regenerative products to address patient needs across the continuum of care. The company’s mission is to provide an integrated portfolio of healing solutions that improve lives while lowering the overall cost of health care. The company’s advanced products include Apligraf, Dermagraft, PuraPly, Affinity, and NuShield. The company generated a revenue of USD 294.6 million in 2020 from this market segment. In November 2024, Organogenesis Holdings welcomes the U.S. Centers for Medicare & Medicaid Services' decision on local coverage determination (LCD) for skin substitute grafts and cellular tissue-based products treating diabetic foot ulcers and venous leg ulcers.

 

• MiMedx

MiMedx Group is a biomedical company based in Marietta, Georgia, founded in 2008. It is traded on the NASDAQ as MDXG. The CEO is Tim Wright. Using tissues from birth such as the placenta, amniotic sac, and umbilical cord, MiMedx creates skin for skin grafts. As of November 2020, MiMedx had supplied more than two million allografts for skin grafts to address persistent wounds such as diabetic foot ulcers that often result in amputation, burns, and other urgent health issues. In November 2024, MiMedx Group, Inc. provided the following update on the Local Coverage Determinations (“LCDs”) regarding “Skin Substitute Grafts/Cellular and Tissue-Based Products for the Treatment of Diabetic Foot Ulcers and Venous Leg Ulcers.”

 

Conclusion

Significant technological developments are still being made in the industry, such as the creation of novel wound care solutions that use materials with improved healing capabilities and the incorporation of smart technologies for real-time administration and monitoring. Furthermore, research and development projects, strategic partnerships, and legislative developments are reshaping the wound care sector, encouraging innovation, and improving patient outcomes as players place a higher priority on patient-centric approaches.

 

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