Wound Care Management Devices Market Size, Share, Industry Trends and Forecast to 2030

1. Market Size & CAGR of Wound Care Management Devices market in 2021

The global wound care management devices market had a market size of USD 15.21 billion in 2021, with a compound annual growth rate (CAGR) of 4.5%. The market is expected to reach USD 20.11 billion by the end of 2021. The growth of the market can be attributed to various factors such as the increasing prevalence of chronic wounds, rising geriatric population, and advancements in wound care technologies.

2. COVID-19 Impact on the Wound Care Management Devices Market

The COVID-19 pandemic has had a significant impact on the wound care management devices market. Due to the strain on healthcare systems and resources, there has been a disruption in the supply chain of wound care products. Additionally, with the focus on treating COVID-19 patients, there has been a decline in elective procedures, leading to a decrease in the demand for wound care management devices.

3. Wound Care Management Devices Dynamics

The wound care management devices market is driven by factors such as the increasing prevalence of chronic wounds, diabetic foot ulcers, and pressure ulcers. In addition, the growing geriatric population, advancements in wound care technologies, and the rising awareness about wound care management are contributing to the market growth. However, factors such as high costs associated with advanced wound care devices and lack of reimbursement policies in certain regions are hindering the market growth.

4. Segments and Related Analysis

4.1 Types of Wound Care Management Devices

The wound care management devices market can be segmented into negative pressure wound therapy (NPWT) devices, hyperbaric oxygen therapy devices, electrical stimulation devices, and others. The NPWT devices segment accounted for the largest market share in 2021, driven by the increasing prevalence of chronic wounds and diabetic foot ulcers.

4.2 End-users of Wound Care Management Devices

The end-users of wound care management devices include hospitals, clinics, homecare settings, and others. Hospitals are the largest end-users of these devices, owing to the high patient inflow and availability of advanced wound care technologies.

5. By Region Analysis

The wound care management devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest market share in 2021, attributed to the presence of well-established healthcare infrastructure, high healthcare expenditure, and the increasing prevalence of chronic wounds in the region.

6. Key Market Players and Competitive Landscape

Key players in the wound care management devices market include Smith & Nephew, Mölnlycke Health Care, Coloplast, 3M Healthcare, Acelity, ConvaTec, Medtronic, DeRoyal Industries, and others. These companies are focusing on product innovations, strategic collaborations, and acquisitions to strengthen their market presence.

7. Recent Happenings in the Wound Care Management Devices Market

In recent developments, Smith & Nephew launched a new advanced wound care device for the treatment of chronic wounds. Mölnlycke Health Care announced a partnership with a leading research institute to develop innovative wound care solutions. Coloplast introduced a new range of wound dressings with advanced features for improved patient outcomes.