U.S. Wound Care Market Growth & Trends
The U.S. wound care market size is anticipated to reach USD 11.42 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 4.11% from 2024 to 2030. An increase in number of accidents, rising geriatric population, increasing number of ambulatory surgical centers (ASCs). Also, rapid advancements in healthcare technology are key contributors to the market growth.
The prevalence of chronic disorders that affect skin integrity, such as diabetes and peripheral vascular disease (venous hypertension, arterial insufficiency), is growing with the rising geriatric population. Skin breakdown, ulceration, and the formation of chronic sores are common results of these diseases. Furthermore, the elderly have a weakened immune system and a higher risk of infection, which makes wound treatment more difficult for them. This increases the need for sophisticated wound care solutions, particularly in cases of severe wounds. Thereby boosting the need for advanced wound care products. For instance, in May 2023, according to the United Health Foundation, more than 55.8 million adults ages 65 and older live in the U.S., accounting for about 16.8% of the nation’s population. These factors are expected to boost the market growth over the forecast period.
The increasing prevalence of chronic diseases is a major factor driving the market growth in the U.S. Antimicrobial resistance, unhealthy and sedentary lifestyles, and alcohol and tobacco use are some of the factors that are causing the prevalence of non-communicable diseases to rise. For instance, in December 2022, the CDC estimated that 6 in 10 adults in the U.S. currently live with a chronic disease such as cancer, heart disease, or diabetes. Moreover, according to the National Association of Chronic Disease Directors, 2022, nearly 60% of adult Americans have at least one chronic disease. These above-mentioned factors are expected to propel the market growth over the forecast period.
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U.S. Wound Care Market Report
U.S. Wound Care Market Report Highlights
- Based on the product, the advanced wound dressing segment dominated the market in 2023 with the largest share owing to the increasing cases of diabetes.
- Based on application, the chronic wounds segment dominated the market in 2023 with the highest share owing to an increasing incidence of diabetes and diabetic foot ulcers.
- The hospital’s segment held the largest share of the overall end-use market in 2023 owing to the growing incidence of chronic wounds, an increase in the number of surgeries, and a rise in the aging population.
- Based on mode of purchase, the prescribed segment dominated the market in 2023 with the highest share because as per Health Policy Institute, around 66% of the U.S. consumes prescription medicines.
- Based on distribution channel, the institutional sales segment dominated the market in 2023 with the highest share owing to as majority of the products for advanced wound care are directly distributed across various settings, such as hospitals & other healthcare facilities.
