Future of Wound Care: North America Market Trends & Projections 2028
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 Fuel North America Wound Care Market
The North America wound care market is experiencing si... moreFuture of Wound Care: North America Market Trends & Projections 2028
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.
Get a sample PDF of the report – https://www.businessmarketinsights.com/sample/BMIRE00028454?utm_source=Blog&utm_medium=10640
Rising Chronic Diseases Fuel North America Wound Care Market
The North America wound care market is experiencing significant growth due to the increasing prevalence of chronic diseases like diabetes and cancer. These conditions directly impair the body's natural healing abilities, leading to a greater demand for wound care products.
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Diabetes, in particular, is a major concern. It's estimated that nearly 500 million people globally suffered from diabetes mellitus (DM) as of July 2021, and this number is expected to rise sharply. In the US alone, over $300 billion is spent annually on medical costs and lost workdays due to DM. A study by the National Center for Biotechnology Information (NCBI) indicates that between 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 environment in diabetic patients makes these wounds difficult to treat and promotes biofilm formation.
This prolonged healing process drives a continuous need for wound dressings. Additionally, the rising incidence of cancer leads to more surgical interventions. Post-cancer surgery wounds are often large and deep, producing exudate that requires frequent management. Advanced wound dressings, including hydrogels, alginates, and foams, are crucial for managing these wounds and preventing infections. Consequently, the increasing burden of chronic diseases is boosting the demand for wound care products across North America.
North America Wound Care Market Overview: US Dominance
The North America wound care market is segmented into the US, Canada, and Mexico. In 2022, the US dominated the market, primarily driven by the high rates of chronic ulcers and diabetes.
Chronic ulcers alone are estimated to cost the US $28 billion yearly for primary diagnoses, with secondary diagnoses potentially adding up to $31.7 billion annually, according to a National Library of Medicine study. 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 is alarmingly high, doubling from 20% to 50% within the first three years and reaching 70% after five years.
Furthermore, statistics from Mary Ann Liebert, Inc., publishers, reveal that 3% of the US population older than 65 years has open wounds. With the US government projecting the elderly population to exceed 77 million by 2060, chronic wounds are set to become an even more persistent health issue in this demographic. This growing aging population is a significant factor propelling the demand for wound care treatments and, by extension, the Market growth of the US wound care
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
