The U.S. and Latin America chronic wound care market size was estimated at USD 6.45 billion in 2023 and is projected to hit around USD 9.66 billion by 2033, growing at a CAGR of 4.12% during the forecast period from 2024 to 2033.
Key Takeaways:
U.S. And Latin America Chronic Wound Care Market Overview
The chronic wound care market in the United States and Latin America is witnessing significant growth and transformation due to a myriad of factors, including the rising prevalence of chronic wounds, advancements in healthcare technologies, and evolving regulatory landscapes. This overview aims to provide a comprehensive understanding of the current state of the market, highlighting key trends, challenges, and opportunities that shape the landscape of chronic wound care in these regions.
U.S. And Latin America Chronic Wound Care Market Growth
The growth of the chronic wound care market in the United States and Latin America is propelled by a confluence of factors. Firstly, the escalating prevalence of chronic wounds, including diabetic ulcers, pressure sores, and venous ulcers, has underscored the urgent need for advanced wound care solutions. As the aging population increases and lifestyle-related conditions become more prevalent, the demand for effective wound management continues to rise. Additionally, technological advancements in wound care, such as the development of innovative dressings, bioactive materials, and smart monitoring devices, contribute significantly to improved patient outcomes, fostering market expansion. The dynamic regulatory landscape, though presenting challenges, also plays a pivotal role by providing a framework for product approvals and ensuring patient safety. Furthermore, the competitive landscape, marked by the presence of key market players investing in research and development, further fuels innovation and market growth. In navigating these growth factors, stakeholders in the U.S. and Latin America chronic wound care market are poised to contribute to the evolution of comprehensive and effective solutions for chronic wound management.
U.S. And Latin America Chronic Wound Care Market Report Scope
Report Attribute | Details |
Market Size in 2024 | USD 6.72 Billion |
Market Size by 2033 | USD 9.66 Billion |
Growth Rate From 2024 to 2033 | CAGR of 4.12% |
Base Year | 2023 |
Forecast Period | 2024 to 2033 |
Segments Covered | Product, Application, End-use, region |
Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Key Companies Profiled | Smith & Nephew PLC; Mölnlycke Health Care AB; ConvaTec Group PLC; Baxter International; Coloplast Corp.; Medtronic; 3M; Derma Sciences (Integra LifeSciences); Medline Industries, Inc.; Ethicon (Johnson & Johnson); B. Braun SE; Cardinal Health, Inc.; Organogenesis Inc; MIMEDX Group, Inc. |
U.S. And Latin America Chronic Wound Care Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Segments Insights:
Product Insights
On the basis of product, the market is segmented into advanced wound dressing, surgical wound care, traditional wound care, and wound therapy devices. The advanced wound dressing segment dominated the U.S. & Latin America chronic wound care market with the highest market share of around 36% in 2023. Also, it is expected to grow at the highest compound annual growth rate (CAGR) of 4.39% from 2024 to 2033. Advanced wound dressing is mainly used to treat chronic and nonhealing wounds. Some products of advanced wound dressings are equipped with antimicrobial agents, such as honey & silver, for rapid wound healing and preventing further infections. The limitations of traditional wound dressings have propelled the growth of this market.
Moreover, increasing cases of diabetes are also expected to propel segment growth over the forecast period. For instance, in November 2022, according to the Pan American Health Organization (PAHO), about 62 million people live with diabetes in the Americas. Also, the number of people with diabetes in the region is projected to reach 109 million by 2040. These factors are expected to propel the segment growth over the forecast period.
Application Insights
Based on application, the market is segmented into diabetic foot ulcers, pressure ulcers, venous leg ulcers, and others. The diabetic foot ulcers segment dominated the U.S. & Latin America chronic wound care market with the largest market revenue share in 2023. This growth might be attributed to factors such as the increasing incidence of diabetes and diabetic foot ulcers is a major factor driving the segment growth. For instance, according to an NIH report, last updated in August 2023, in the U.S., diabetes is a major cause of non-traumatic amputations. Overall, 5% of patients with diabetes develop foot ulcers, and 1% may lead to amputation. These factors are expected to boost the segment growth over the forecast period.
The pressure ulcers segment is expected to grow at the highest compound annual growth rate (CAGR) from 2024 to 2033. The geriatric population is more vulnerable to pressure ulcers. An increase in the geriatric population may lead to a rise in the number of pressure ulcer patients, which is expected to propel segment growth over the forecast period. For instance, in August 2022, according to NCBI, about 1 to 3 million people in the U.S. develop pressure ulcers every year. Similarly, as per the same source, the incidence of pressure ulcers in hospitalized patients may range from 5% to 15%. These factors are expected to propel the segment growth over the forecast period.
End-Use Insights
The hospitals end-use led the market in 2023. Hospitals use wound care products to treat a variety of wounds, including surgical wounds, burns, pressure ulcers, and diabetic foot ulcers. The demand for advanced wound care products in hospitals is driven by factors such as the growing incidence of chronic wounds, an increase in the number of surgeries, and a rise in the aging population. Surgical wound care dressings and Negative Pressure Wound Therapy (NPWT) are predominantly suitable for hospital use and are not feasible for homecare. This results in the increasing patient pool in hospitals will propel the segment growth over the forecast period.
The home healthcare segment is expected to grow at the highest compound annual growth rate (CAGR) from 2024 to 2033. An increase in the aging population and technological advancement in chronic wound care is expected to drive the segment growth. Furthermore, home healthcare services are often more cost-effective than inpatient care, making them an attractive option for patients, insurers, and healthcare providers. These factors are expected to boost the segment growth over the forecast period.
Recent Developments
Key Companies & Market Share Insights
Some of the key players operating in the market include Smith & Nephew PLC; Mölnlycke Health Care AB; ConvaTec Group PLC; Baxter International; Coloplast Corp.; Medtronic; 3M; Derma Sciences (Integra LifeSciences); Medline Industries, Inc.; Ethicon (Johnson & Johnson); B. Braun SE
Key U.S. And Latin America Chronic Wound Care Companies:
Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the U.S. And Latin America Chronic Wound Care market.
By Product
By Application
By End-use
By Regional
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Product
1.1.2. Application
1.1.3. End-use
1.1.4. Regional scope
1.1.5. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. Nova one advisor’s internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.3.5. Details of primary research
1.3.5.1. Data for primary interviews in North America
1.3.5.2. Data for primary interviews in Europe
1.3.5.3. Data for primary interviews in Asia Pacific
1.3.5.4. Data for primary interviews in Latin America
1.3.5.5. Data for Primary interviews in MEA
1.4. Information or Data Analysis
1.4.1. Data analysis models
1.5. Market Formulation & Validation
1.6. Model Details
1.6.1. Commodity flow analysis (Model 1)
1.6.1.1. Approach 1: Commodity flow approach
1.6.2. Volume price analysis (Model 2)
1.6.2.1. Approach 2: Volume price analysis
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
1.9.1. Objective 1
1.9.2. Objective 2
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Product outlook
2.2.2. Application outlook
2.2.3. End-use outlook
2.2.4. Regional outlook
2.3. Competitive Insights
Chapter 3. U.S. & Latin America Chronic Wound Care Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.1.1. Increasing prevalence of chronic diseases and conditions affecting wound healing capabilities
3.2.1.2. Introduction of innovative and advanced wound products
3.2.1.3. Rising geriatric population
3.2.1.4. Increasing number of ambulatory surgical centers (ASCs)
3.2.1.5. Steep rise in the number of hospitals & urgent care centers and an increase in hospital admissions
3.2.2. Market restraint analysis
3.2.2.1. Stringent manufacturing policies
3.2.2.2. High cost of advanced wound care products and chronic wound treatments
3.2.3. Market opportunity analysis
3.3. U.S. & Latin America Chronic Wound Care Market Analysis Tools
3.3.1. Industry Analysis – Porter’s
3.3.1.1. Supplier power
3.3.1.2. Buyer power
3.3.1.3. Substitution threat
3.3.1.4. Threat of new entrant
3.3.1.5. Competitive rivalry
3.3.2. PESTEL Analysis
3.3.2.1. Political landscape
3.3.2.2. Technological landscape
3.3.2.3. Economic landscape
3.3.3. Covid-19 Impact Analysis
Chapter 4. U.S. & Latin America Chronic Wound Care Market: Product Estimates & Trend Analysis
4.1. Definitions and Scope
4.1.1. Advanced wound dressing
4.1.2. Surgical wound care
4.1.3. Traditional wound care
4.1.4. Wound therapy devices
4.2. Product Market Share, 2021 & 2033
4.3. Segment Dashboard
4.4. U.S. & Latin America Wound Care Market by Product Outlook
4.5. Market Size & Forecasts and Trend Analyses, 2023 to 2030 for the following
4.5.1. Advanced wound dressing
4.5.1.1. Advanced wound dressing market estimates and forecast 2021 - 2033
4.5.1.2. Foam dressings
4.5.1.2.1. Foam dressings market estimates and forecast 2021 - 2033
4.5.1.3. Hydrocolloid dressings
4.5.1.3.1. Hydrocolloid dressings market estimates and forecast 2021 - 2033
4.5.1.4. Film dressings
4.5.1.4.1. Film dressings market estimates and forecast 2021 - 2033
4.5.1.5. Alginate dressings
4.5.1.5.1. Alginate dressings market estimates and forecast 2021 - 2033
4.5.1.6. Hydrogel dressings
4.5.1.6.1. Hydrogel dressings market estimates and forecast 2021 - 2033
4.5.1.7. Collagen dressings
4.5.1.7.1. Collagen dressings market estimates and forecast 2021 - 2033
4.5.1.8. Other advanced dressings
4.5.1.8.1. Other advanced dressings market estimates and forecast 2021 - 2033
4.5.2. Surgical wound care
4.5.2.1. Surgical wound care market estimates and forecast 2021 - 2033
4.5.2.2. Sutures & staples
4.5.2.2.1. Sutures & staples market estimates and forecast 2021 - 2033
4.5.2.3. Tissue adhesives & sealants
4.5.2.3.1. Tissue adhesives & sealants market estimates and forecast 2021 - 2033
4.5.2.4. Anti-infective dressing
4.5.2.4.1. Anti-infective dressing market estimates and forecast 2021 - 2033
4.5.3. Traditional wound care
4.5.3.1. Traditional wound care market estimates and forecast 2021 - 2033s, (USD Million)
4.5.3.2. Medical tapes
4.5.3.2.1. Medical tapes market estimates and forecast 2021 - 2033
4.5.3.3. Cleansing agents
4.5.3.3.1. Cleansing agents market estimates and forecast 2021 - 2033
4.5.3.4. Others
4.5.3.4.1. Others market estimates and forecast 2021 - 2033
4.5.4. Wound therapy devices
4.5.4.1. Wound therapy devices market estimates and forecast 2021 - 2033s, (USD Million)
4.5.4.2. Negative pressure wound therapy
4.5.4.2.1. Negative pressure wound therapy market estimates and forecast 2021 - 2033
4.5.4.3. Oxygen and hyperbaric oxygen equipment
4.5.4.3.1. Oxygen and hyperbaric oxygen equipment market estimates and forecast 2021 - 2033
4.5.4.4. Electric stimulation devices
4.5.4.4.1. Electric stimulation devices market estimates and forecast 2021 - 2033
4.5.4.5. Pressure relief devices
4.5.4.5.1. Pressure relief devices market estimates and forecast 2021 - 2033
4.5.4.6. Others
4.5.4.6.1. Others market estimates and forecast 2021 - 2033
Chapter 5. U.S. & Latin America Chronic Wound Care Market: Application Estimates & Trend Analysis
5.1. Definitions and Scope
5.1.1. Diabetic foot ulcers
5.1.2. Pressure ulcers
5.1.3. Venous leg ulcers
5.1.4. Other chronic wounds
5.2. Application Market Share, 2021 & 2033
5.3. Segment Dashboard
5.4. U.S. & Latin America Wound Care Market by Application Outlook
5.5. Market Size & Forecasts and Trend Analyses, 2023 to 2030 for the following
5.5.1. Diabetic foot ulcers
5.5.1.1. Diabetic foot ulcers market estimates and forecast 2021 - 2033
5.5.2. Pressure ulcers
5.5.2.1. Pressure ulcers market estimates and forecast 2021 - 2033
5.5.3. Venous leg ulcers
5.5.3.1. Venous leg ulcers market estimates and forecast 2021 - 2033
5.5.4. Other chronic wounds
5.5.4.1. Other chronic wounds market estimates and forecast 2021 - 2033
Chapter 6. U.S. & Latin America Chronic Wound Care Devices: End-use Estimates & Trend Analysis
6.1. Definitions and Scope
6.1.1. Hospitals
6.1.2. Specialty clinics
6.1.3. Home healthcare
6.1.4. Others
6.2. End-use Market Share, 2021 & 2033
6.3. Segment Dashboard
6.4. U.S. & Latin America Wound Care Market by End-use Outlook
6.5. Market Size & Forecasts and Trend Analyses, 2021 - 2033 for the following
6.5.1. Hospitals
6.5.1.1. Hospitals market estimates and forecast 2021 - 2033
6.5.2. Specialty clinics
6.5.2.1. Specialty clinics market estimates and forecast 2021 - 2033
6.5.3. Home healthcare
6.5.3.1. Home healthcare market estimates and forecast 2021 - 2033
6.5.4. Others
6.5.4.1. Others market estimates and forecast 2021 - 2033
Chapter 7. U.S. & Latin America Chronic Wound Care Market: Regional Estimates & Trend Analysis
7.1. Regional market share analysis, 2024 & 2033
7.2. Regional Market Dashboard
7.3. Global Regional Market Snapshot
7.4. Regional Market Share and Leading Players, 2023
7.4.1. North America
7.4.2. Latin America
7.5. Market Application, & Forecasts and Trend Analysis, 2021 - 2033
7.6. North America
7.6.1. Market estimates and forecast, 2021 - 2033
7.6.2. U.S.
7.6.2.1. Key country dynamics
7.6.2.2. Competitive scenario
7.6.2.3. Regulatory framework
7.6.2.4. Reimbursement scenario
7.6.2.5. U.S. market estimates and forecasts, 2021 - 2033
7.7. Latin America
7.7.1. Brazil
7.7.1.1. Key country dynamics
7.7.1.2. Competitive scenario
7.7.1.3. Regulatory framework
7.7.1.4. Reimbursement scenario
7.7.1.5. Brazil market estimates and forecasts, 2021 - 2033
7.7.2. Mexico
7.7.2.1. Key country dynamics
7.7.2.2. Competitive scenario
7.7.2.3. Regulatory framework
7.7.2.4. Reimbursement scenario
7.7.2.5. Mexico market estimates and forecasts, 2021 - 2033
7.7.3. Colombia
7.7.3.1. Key country dynamics
7.7.3.2. Competitive scenario
7.7.3.3. Regulatory framework
7.7.3.4. Reimbursement scenario
7.7.3.5. Colombia market estimates and forecasts, 2021 - 2033
7.7.4. Panama
7.7.4.1. Key country dynamics
7.7.4.2. Competitive scenario
7.7.4.3. Regulatory framework
7.7.4.4. Reimbursement scenario
7.7.4.5. Panama market estimates and forecasts, 2021 - 2033
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis by Key Market Participants
8.2. Company Categorization
8.3. Company Market Share Analysis
8.4. Company Heat Map Analysis
8.5. Strategy Mapping
8.5.1. Expansion
8.5.2. Mergers & Acquisition
8.5.3. Partnerships & Collaborations
8.5.4. New Product Launches
8.5.5. Research And Development
8.6. Company Profiles
8.6.1. Smith & Nephew PLC
8.6.1.1. Company overview
8.6.1.2. Financial performance
8.6.1.3. Product benchmarking
8.6.1.4. Strategic initiatives
8.6.2. Mölnlycke Health Care AB
8.6.2.1. Company overview
8.6.2.2. Financial performance
8.6.2.3. Product benchmarking
8.6.2.4. Strategic initiatives
8.6.3. ConvaTec Group PLC
8.6.3.1. Company overview
8.6.3.2. Financial performance
8.6.3.3. Product benchmarking
8.6.3.4. Strategic initiatives
8.6.4. Baxter International
8.6.4.1. Company overview
8.6.4.2. Financial performance
8.6.4.3. Product benchmarking
8.6.4.4. Strategic initiatives
8.6.5. Coloplast Corp.
8.6.5.1. Company overview
8.6.5.2. Financial performance
8.6.5.3. Product benchmarking
8.6.5.4. Strategic initiatives
8.6.6. Medtronic
8.6.6.1. Company overview
8.6.6.2. Financial performance
8.6.6.3. Product benchmarking
8.6.6.4. Strategic initiatives
8.6.7. 3M
8.6.7.1. Company overview
8.6.7.2. Financial performance
8.6.7.3. Product benchmarking
8.6.7.4. Strategic initiatives
8.6.8. Derma Sciences (Integra LifeSciences)
8.6.8.1. Company overview
8.6.8.2. Financial performance
8.6.8.3. Product benchmarking
8.6.8.4. Strategic initiatives
8.6.9. Medline Industries, Inc.
8.6.9.1. Company overview
8.6.9.2. Financial performance
8.6.9.3. Product benchmarking
8.6.9.4. Strategic initiatives
8.6.10. 3M
8.6.10.1. Company overview
8.6.10.2. Financial performance
8.6.10.3. Product benchmarking
8.6.10.4. Strategic initiatives
8.6.11. Ethicon (Johnson & Johnson)
8.6.11.1. Company overview
8.6.11.2. Financial performance
8.6.11.3. Product benchmarking
8.6.11.4. Strategic initiatives
8.6.12. B. Braun SE
8.6.12.1. Company overview
8.6.12.2. Financial performance
8.6.12.3. Product benchmarking
8.6.12.4. Strategic initiatives
8.6.13. Cardinal Health, Inc.
8.6.13.1. Company overview
8.6.13.2. Financial performance
8.6.13.3. Product benchmarking
8.6.13.4. Strategic initiatives
8.6.14. Organogenesis Inc
8.6.14.1. Company overview
8.6.14.2. Financial performance
8.6.14.3. Product benchmarking
8.6.14.4. Strategic initiatives
8.6.15. MIMEDX Group, Inc.
8.6.15.1. Company overview
8.6.15.2. Financial performance
8.6.15.3. Product benchmarking
8.6.15.4. Strategic initiatives