The market growth is largely driven by factors such as the growing prevalence of chronic conditions resulting in chronic, surgical, acute, and traumatic wounds; increasing spending on chronic wounds; rising use of regenerative medicine in wound management; and technological advancements. The high growth potential of emerging economies and the growing number of acquisitions by key players have also opened an array of opportunities for the growth of the wound care market.
The Surgical & traumatic wounds segment accounted for the largest share of the market, by wound type segment, in 2020
The wound care market, by wound type, is segmented into surgical & traumatic wounds, diabetic foot ulcers, pressure ulcers, venous leg ulcers, and burns & other wounds. In 2020, the surgical & traumatic wounds segment accounted for the largest share in the market. The increasing number of traumatic & surgical wounds is expected to drive the demand for wound care products. The market growth is also largely driven by the rising incidence of diabetes and diabetic foot ulcers due to the high prevalence of pressure ulcers and venous leg ulcers in the geriatric population.