North America Wound Care Management Market Size

North America Wound Care Management Market Analysis

The North America Wound Care Management Market size is estimated at USD 5.34 billion in 2024, and is expected to reach USD 6.34 billion by 2029, growing at a CAGR of 3.5% during the forecast period (2024-2029).

The Covid-19 pandemic created havoc in the North American healthcare system and impacted the studied market diversly during the initial phase. However, there was increasing research on the impact of Covid-19 on wound care and management in North America. For instance, as per an article published in Advances in Wound Care (AWC) Journal in May 2021, comorbidities like diabetes, vascular issues, hypertension, and other disease are linked to chronic non-healing wounds (CNHW). These risk factors put people with CNHW at a high risk of experiencing severe and fatal results from infection with the coronavirus two pathogens. Such instances increased the need for wound care and management during the pandemic in North America, positively impacting the market growth. Additionally, with surgeries coming to standard terms as pre-pandemic days, the demand for wound care and wound closure products is increasing. Therefore, the pandemic has significantly and considerably impacted the studied market growth.

The increasing geriatric population and rising incidences of chronic wounds are the primary factors contributing to the market growth. For instance, according to an article published in the WRR journal in February 2022, the incidence of chronic wounds is high and increasing, while venous ulcers and active or healed wounds are present in 1% of the population in the United States. In addition, several other sources also mentioned that chronic injuries commonly occur in 1 to 2 per 100,000 population in the United States. This incidence will lead to increased adoption of wound care and management products in the United States, driving the growth of the studied market.

Furthermore, as per the ITF's road safety report-2021, Mexico recorded 13,630 road fatalities at a rate of 10.5 per 100,000 inhabitants in 2020. Therefore, the burden of road accident cases and injuries within Mexico is growing. As accidents and injuries require dressings and stitching for wound healing purposes, the burden of injuries in the country is estimated to boost the demand for wound closure and wound care products, which is expected to fuel the overall market growth.

Therefore, due to the factors mentioned above, the studied market is expected to grow significantly during the study period. However, the high cost of the procedures is expected to restrain the market growth.