Market Size of Europe Wound Management Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.20 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Wound Management Market Analysis
Europe wound management market is expected to register a CAGR of 5.2% over the forecast period (2022-2027).
The emergence of the COVID-19 pandemic has changed the delivery of medical care in the Europe region. The increased pressure due to the growing rate of hospitalization of COVID-19 patients has led to the re-profiling of many hospitals and departments for treating patients with COVID-19. Consequently, many elective surgeries were canceled or postponed worldwide to reserve or redirect the available limited capacities and resources (like hospital beds and patient care professionals) toward COVID-19 patient care. Furthermore, the increasing incidence of diabetes due to a sedentary lifestyle is one of the leading factors contributing to market growth. The demand for the wound management market is increasing in the Europe region owing to the increasing number of surgical cases, and the rising prevalence of chronic diseases across the globe. The main driving factors for this market are increasing incidences of chronic wounds, ulcers, and diabetic ulcers, a rise in the geriatric population, and an increase in the volume of surgical procedures.
Furthermore, increasing the incidence of diabetes due to a sedentary lifestyle is one of the leading factors contributing to market growth. For instance, in 2021 International Diabetes Federation (IDF), Diabetes Atlas reported 61 million cases of Diabetes in Europe, and this number is reported to increase up to 13% by 2045. The high incidence of diabetes cases is also related to high cases of diabetic foot ulcers, thereby driving the market. The world is expected to witness a demographic shift over a few decades and the geriatric population is expected to dominate. The United Nations Department of Economic and Social Affairs report titled 'World Population Ageing 2020 Highlights' mentioned that there were 727 million persons aged 65 years or over in the world in 2020. It is expected to more than double and reaches nearly 1.5 billion in 2050. For instance, United Nations has an estimated 748,581, 892 population in Europe, which accounts for 9.78% of the world population. Since the older population is at high risk of getting chronic illnesses, it is expected to generate the need for surgeries, thereby increasing demand for wound management devices and instruments, driving the market's growth.
Also, the increase in surgical procedures is driving this market. In an article published in June 2021 by the National Library of Medicine titled "German Heart Surgery Report 2020: The Annual Updated Registry of the German Society for Thoracic and Cardiovascular Surgery," there were approximately 29,444 isolated coronary artery bypass grafting procedures, 35,469 isolated heart valve procedures, and 843 assist device implantations registered in Germany. According to the same source, the number of solitary heart transplants in Germany has surged to 340, a 2.1 percent increase over the previous year. Thus, increasing surgical procedures is driving this market.
Above mentioned reasons have contributed to the growth of Europe wound management market. However, the high cost of surgical procedures and reimbursement issues associated with advanced wound care products has slowed down the market growth.
