The U.S. wound care market was valued at $8.63 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 4.11% from 2024 to 2030, according to Grand View Research.
“The market will continue to grow as a result of factors such as the rising number of sports injuries and the increasing prevalence of diabetes,” a report from the research firm states. “These factors are anticipated to propel the market growth over the forecast period and the rising geriatric population. For instance, as per the report of the Centers for Disease Control and Prevention (CDC) last reviewed in April 2023, 37.3 million Americans have diabetes. Moreover, as per the same source, 96 million American adults have prediabetes. These factors are expected to boost the market growth over the forecast period.”
The reports adds that the rising technological advancements in wound care are a major driver for the U.S. wound care market.
The reports also points out that an increasing incidence of accidents such as road accidents and trauma events is anticipated to drive the market growth.
“As per the report of Amaro Law Firm published on March 2023, 7.3 million motor vehicle accidents occur each year across the U.S. Thus, the rising number of accidents is expected to boost the demand for wound care products over the forecast period,” Grand View Research states. “In addition, according to Stanford Children’s Health, injury is a major cause of child admission in hospitals and emergency departments. Furthermore, according to a similar source, every year, more than 3.5 million kids under the age of 14 incur injuries while engaging in recreational activities or sports.”
Moreover, an increasing number of ambulatory surgical centers (ASCs) is expected to drive the market, the report states. “ASCs offer various services, such as surgical care, diagnostics, and preventive procedures. Surgeries for pain management, urology, orthopedics, restorative care, reconstruction, or alternative plastic surgeries and gastrointestinal (GI)-related surgeries are also performed in ASCs. Earlier, ASCs were only capable of performing GI-related minor surgeries; however, with an increase in the number of minimally invasive surgical procedures, services offered by ASCs expanded and grew exponentially. For instance, according to the report of Advancing Surgical Care, as of August 2023, the number of ASCs in the U.S. is estimated to be 6,223. Thus, with an increasing number of ASCs, the market growth is expected to propel during the forecast period.”
Future Market Insights is another research firm that forecasts wound care market growth.
“The advanced wound management market is estimated to reach $12.3 billion by 2025. Between 2025 and 2035, the market is expected to grow at a CAGR of 3.4%, reaching a total value of $17.3 billion by the end of the assessment period,” the market states.
The firm MarketsandMarkets also predicts growth reporting a CAGR of 6.5% from 2025 to 2030 to reach $30.48 billion.
