PUBLISHER: Grand View Research | PRODUCT CODE: 1405790
PUBLISHER: Grand View Research | PRODUCT CODE: 1405790
The U.S. wound care market size is anticipated to reach USD 11.42 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 4.11% from 2024 to 2030. An increase in number of accidents, rising geriatric population, increasing number of ambulatory surgical centers (ASCs). Also, rapid advancements in healthcare technology are key contributors to the market growth.
The prevalence of chronic disorders that affect skin integrity, such as diabetes and peripheral vascular disease (venous hypertension, arterial insufficiency), is growing with the rising geriatric population. Skin breakdown, ulceration, and the formation of chronic sores are common results of these diseases. Furthermore, the elderly have a weakened immune system and a higher risk of infection, which makes wound treatment more difficult for them. This increases the need for sophisticated wound care solutions, particularly in cases of severe wounds. Thereby boosting the need for advanced wound care products. For instance, in May 2023, according to the United Health Foundation, more than 55.8 million adults ages 65 and older live in the U.S., accounting for about 16.8% of the nation's population. These factors are expected to boost the market growth over the forecast period.
The increasing prevalence of chronic diseases is a major factor driving the market growth in the U.S. Antimicrobial resistance, unhealthy and sedentary lifestyles, and alcohol and tobacco use are some of the factors that are causing the prevalence of non-communicable diseases to rise. For instance, in December 2022, the CDC estimated that 6 in 10 adults in the U.S. currently live with a chronic disease such as cancer, heart disease, or diabetes. Moreover, according to the National Association of Chronic Disease Directors, 2022, nearly 60% of adult Americans have at least one chronic disease. These above-mentioned factors are expected to propel the market growth over the forecast period.