Global Wound Therapy Devices Market Analysis to 2030

Dublin, June 11, 2024 (GLOBE NEWSWIRE) — The “Wound Therapies Market – Global and Regional Analysis: Product Focus, Region, Country-Level Analysis and Competitive Landscape – Analysis and Forecast 2023-2030” report includes added ResearchAndMarkets.com offering.

The global wound care market is on a rapid growth path and is expected to reach $6.47 billion by 2030. This market is expected to expand at a compound annual growth rate (CAGR) of 4.42% during 2023-2030. Driving such growth is a growing geriatric population, a higher incidence of chronic disease and acute wounds, and increasing patient demand for advanced devices such as NPWT.

Market segmentation

Segmentation 1: by product

Negative Pressure Wound Therapy (NPWT)
Hyperbaric Oxygen Therapy (HBOT)
Unloading devices
Electrical stimulation
Compression bandages

In terms of products, the market for wound therapy devices is led by negative pressure wound therapy (NPWT), which had a 44.47% share in 2022.

Segmentation 2: by region

North America: USA and Canada
Europe: United Kingdom, Germany, France, Italy, Spain, Netherlands, Switzerland, Russian Federation, Turkey, Poland, Belgium, Sweden, Ireland, Norway, Austria, Denmark, Finland, Portugal, Czech Republic, Romania, Greece, Slovakia and Ukraine
Asia Pacific: Japan, China, India, South Korea, Australia, Malaysia and Thailand
Latin America: Brazil, Mexico, Colombia, Argentina and Chile
Rest of the world

Within the region, North America is expected to maintain its dominant position at a constant compound annual growth rate (CAGR) of 3.44% during 2023-2030. This sustained growth can be attributed to the advanced healthcare infrastructure in the region, widespread awareness of wound care, and a noticeable increase in the number of chronic wounds among an aging population. The emphasis on research and development in North America has also facilitated the emergence of innovative wound therapy device products, supported by a strong regulatory environment and health policies favoring advanced wound care solutions.

Latin America and the rest of the world are expected to record the highest growth rates, with a CAGR of 6.22% and 6.37% respectively, indicating a rapidly growing presence in the market. The growth of these regions is likely driven by improvements in healthcare infrastructure, increasing awareness of effective wound care, and increasing access to advanced treatments. These dynamics highlight the growing global demand for effective wound care solutions and the significant opportunities for market participants in various healthcare areas.

Key market players and competition summary

The global competitive landscape of the wound care products market is defined by the presence of several key players, each contributing to the market growth through innovation, business expansion, financing, strategic partnerships, and focus on product portfolio expansion. Leading companies in this industry distinguish themselves by their commitment to research and development, which enables them to introduce advanced wound care solutions that address a range of needs, from basic wound protection to complex wound care scenarios.

Some well-known and well-established brands in this market are:

3M
Smith & Nephew Limited
DeRoyal Industries, Inc.
AccelHeal
Sky Medical Technology Ltd.
Getinge AB
Industry Medline
ConvaTec
Gentleman
GWR Medicine

Key features

Report attribute	Details
number of pages	54
Forecast period	2023-2030
Estimated market value (USD) in 2023	$4.78 billion
Projected market value (USD) until 2030	$6.47 billion
Compound annual growth rate	4.4%
Regions covered	Global

More information about this report can be found at https://www.researchandmarkets.com/r/qo1x4q

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Wound care device market