The North America wound care market is expected to grow from US$ 7,920.27 million in 2022 to US$ 11,178.22 million by 2028. It is estimated to register a CAGR of 5.9% from 2022 to 2028.
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Rising Chronic Diseases Drive North America Wound Care Market
The North America wound care market is experiencing significant growth, primarily fueled by the increasing prevalence of chronic diseases like diabetes and cancer, which compromise the body's natural healing capabilities.
Diabetes' Impact on Wound Healing:
Diabetes, a pervasive chronic disease, severely impairs the immune system and complicates wound healing. As of July 2021, an estimated 500 million people globally suffer from diabetes mellitus (DM), a number projected to rise dramatically. In the US alone, diabetes incurs over $300 billion annually in medical costs and lost workdays. A study by the National Center for Biotechnology Information (NCBI) indicates that 1 in 3 people in the general population and 1 in 5 DM patients will develop a chronic non-healing wound, such as a diabetic foot ulcer (DFU), in their lifetime. The high blood sugar levels associated with diabetes foster biofilm formation, making diabetic wounds particularly challenging to treat. This prolonged healing process creates a sustained demand for wound dressings.
Cancer and Surgical Wound Care:
The rising incidence of cancer has led to more surgical interventions. Many surgical wounds resulting from cancer operations are large and deep, producing exudate that requires frequent management. Wound dressings are crucial in preventing postoperative infections. Advanced wound dressings, including hydrogels, alginates, and foams, are vital for effective wound management and infection prevention in these cases.
North America Wound Care Market Overview
The North America wound care market includes the US, Canada, and Mexico. The US dominated the market in 2022, largely due to the high rates of chronic ulcers and diabetes.
In the US, the primary diagnosis of chronic ulcers conservatively costs an estimated $28 billion annually, with secondary diagnoses adding up to $31.7 billion each year. The American Diabetes Association (ADA) reports that over 9-12 million Americans suffer from chronic ulcers. The mortality rate for leg ulcers after initial amputation dramatically increases from 20-50% within three years to 70% after five years.
Furthermore, statistics from Mary Ann Liebert, Inc., publishers, show that 3% of the US population over 65 years old has open wounds. With the US government projecting the elderly population to exceed 77 million by 2060, chronic wounds are expected to become an even more persistent problem in this demographic. This aging population's growing need for wound care treatments is a key driver for the US wound care market growth.
The North America wound care market is segmented by product, wound type, end user, and country.
Product Segmentation:
- Advanced Wound Dressing: Held the largest market share in 2022.
- Surgical Wound Care
- Traditional Wound Care
- Wound Therapy Devices
Wound Type Segmentation:
- Chronic Wounds: Held a larger market share in 2022.
- Acute Wounds
End User Segmentation:
- Hospitals: Held the largest market share in 2022.
- Specialty Clinics
- Home Healthcare
- Others
Country Segmentation:
- US: Dominated the North America wound care market in 2022.
- Canada
- Mexico
Key Players in the North America Wound Care Market:
- 3M Co
- Baxter International Inc
- Coloplast AS
- ConvaTec Group Plc
- Ethicon USA LLC
- Integra LifeSciences Holdings Corp
- Medtronic Plc
- MiMedx
- PAUL HARTMANN AG
- Smith & Nephew Plc
North America Wound Care Strategic Insights
Strategic insights for the North America Wound Care provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
North America Wound Care Regional Insights
The geographic scope of the North America Wound Care refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
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