by The global traditional wound management market is primarily driven by increasing prevalence of chronic wounds such as diabetic foot ulcers, pressure ulcers, and venous leg ulcers. Chronic wounds affect a large proportion of the global population and require long-term treatment, often with traditional wound dressings. Traditional wound dressings play a critical role in the management of chronic wounds by protecting the wound from the external environment, maintaining a moist healing environment, and removing excess exudate from the wound bed.
The global Traditional Wound Management Market is estimated to be valued at US$ 2080.08 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Increasing prevalence of chronic wounds: Chronic wounds such as diabetic foot ulcers, pressure ulcers, and venous leg ulcers affect a large patient population globally and their prevalence is rising mainly due to increasing incidence of diabetes and ageing population. For instance, according to International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 worldwide and the number is estimated to reach 643 million by 2030 and 784 million by 2045. Chronic wounds require long-term treatment often with traditional wound dressings such as foam dressings, hydrocolloid dressings, alginate dressings, and film dressings. Therefore, rising chronic wound prevalence is expected to drive the traditional wound management market over the forecast period.
Rising penetration of traditional wound dressings: Traditional wound dressings have been used for wound management for decades. Increased awareness about availability and efficacy of traditional wound dressings is increasing their adoption over other treatment options such as advanced wound care products. Additionally, traditional wound dressings are relatively low-cost products and widely available across all healthcare settings including hospitals, clinics, and homecare settings. Higher penetration of traditional wound dressings in chronic wound management is anticipated to propel the market growth during the forecast period.
Segment Analysis
The traditional wound management market can be segmented into chronic wounds and acute wounds. Chronic wounds held the largest market share in 2024 as chronic wounds such as pressure ulcers, diabetic foot ulcers, and venous leg ulcers require long-term treatment. They are difficult to treat and heal slowly, necessitating frequent dressing changes and treatments.
PEST Analysis
Political: Governments worldwide are increasing funding for advanced wound care products to reduce healthcare costs associated with complicated wound cases. Favorable reimbursement policies are also being introduced for novel wound management therapies.
Economic: Rising geriatric population and the associated increase in prevalence of diabetes and obesity are major drivers of growth. However, high costs of new wound care products may restrain market expansion.
Social: Growing awareness about availability of effective wound healing products and their benefits is encouraging patients to seek proper treatment instead of relying on traditional methods.
Technological: Manufacturers are focusing on development of advanced wound dressings, bioactive agents, and skin substitutes to enhance healing and prevent complications. Technologies like nanoparticle-based drug delivery and tissue engineering offer promise.
Key Takeaways
The global Traditional Wound Management Market Share is expected to witness high growth during the forecast period due to the increasing incidence of chronic wounds worldwide.
Regional analysis: North America held the largest share of the market in 2024 due to favorable reimbursement policies and the presence of major players. However, Asia Pacific is expected to grow at the fastest pace owing to improved access to healthcare and rising medical tourism.
Key players: Key players operating in the traditional wound management market are Gilead Sciences, Lupin Ltd., Teva Pharmaceuticals, Cipla Limited, and Pharmaxis Ltd. These companies are focused on developing advanced traditional treatment options and expanding to emerging markets.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
