Patch Based Wound Healing Products Market Size, Share & Trends Analysis Report By Formulation (Povidone-iodine, Silver), By Application (Acute Wounds, Chronic Wounds), By Region, And Segment Forecasts, 2024 - 2030

Market Size & Trends

The global patch based wound healing products market size was valued at USD 1.33 billion in 2023 and is projected to grow at a CAGR of 4.1% from 2024 to 2030. The ability to provide targeted, effective care for various types of wounds, promoting faster healing and reducing the risk of infection has triggered the need for patch based wound healing solutions. Technological advancements in wound care patches, including enhanced antimicrobial properties and improved adhesive technologies, are boosting their adoption. Furthermore, increasing healthcare expenditure and focus on reducing infection rates and hospital stays are further propelling the demand for wound healing solutions.

The rising prevalence of lifestyle-related conditions such as diabetes and obesity is anticipated to contribute to the growth of patch-based wound healing products. These conditions often lead to chronic wounds and ulcers, such as diabetic foot ulcers, which require specialized and advanced wound care solutions. As the global incidence of diabetes continues to rise, there is a growing demand for effective wound management products to address these complications. The need for tailored wound care solutions to manage these chronic conditions is fueling the market expansion.

Furthermore, the global aging population is anticipated to drive market growth. As people age, their skin layers get thinner to heal gradually. This results in a higher incidence of wounds and pressure ulcers among the elderly. This demographic shift has created a substantial market for wound care products that enhance healing processes and improve quality of life. The emphasis on improving patient outcomes and reducing the burden of chronic wounds in the aging population further accelerates the demand for advanced patch-based wound healing products. Enhanced support for elderly care and increased investments in geriatric healthcare contribute to the segment expansion.

Formulation Insights

Collagen dominated the market and accounted for a share of 35.2% in 2023 due to its superior wound-healing properties and biocompatibility. The increasing prevalence of chronic wounds and surgical procedures has driven demand for collagen-based products, as they promote faster tissue repair and reduce infection risks. Additionally, advancements in collagen extraction and processing technologies have enhanced the efficacy and availability of these products, further fueling market growth.

Silver is expected to register a CAGR of 4.6% during the forecast period due to silver's antimicrobial properties, which help prevent infections in wound care. In addition, rising awareness about the benefits of silver-infused dressings in managing chronic and surgical wounds is driving their adoption. Furthermore, innovations in silver-based technologies and increasing healthcare spending on advanced wound care solutions are anticipated to propel market growth.

Application Insights

The acute wounds segment dominated the market in 2023 pertaining to the rising incidence of injuries from accidents, surgeries, and medical procedures requiring immediate wound care. In addition, demand for advanced wound healing solutions for effective and rapid recovery, reducing complications and hospital stays is anticipated to drive market growth. Furthermore, technological advancements in wound care products have improved the management of acute wounds, further boosting their market growth.

The chronic wound segment is projected to grow at a CAGR of 4.3% over the forecast period. This is attributed to the rising prevalence of conditions such as diabetes and venous ulcers, which increases the need for specialized wound care solutions. Additionally, advances in patch-based wound healing technologies offer prolonged protection and enhanced healing. Furthermore, growing awareness and improved healthcare infrastructure for managing chronic wounds contribute to the segment's expansion.

Regional Insights

North America patch based wound healing products market dominated with a share of 45.5% in 2023 due to its advanced healthcare infrastructure and high adoption of innovative wound care technologies. The large number of patients along with investments in healthcare research have increased the need for advanced wound-healing treatments. Moreover, supportive reimbursement policies and a strong presence of major wound care product manufacturers have further bolstered market growth in North America.

Europe Patch Based Wound Healing Products Market Trends

Europe patch based wound healing products market is expected to register a substantial CAGR in the forecast period due to increasing healthcare investments and a growing elderly population needing advanced wound care solutions. In addition, rising awareness of innovative wound care technologies and improvements in healthcare infrastructure across European countries contribute to this robust market expansion.

The UK patch based wound healing products market is expected to grow in the coming years due to advancements in wound care technologies and a rising incidence of chronic conditions such as diabetes, which requires effective wound management solutions. An increase in healthcare funding and support for innovative wound care treatments, along with a growing emphasis on improving patient outcomes are anticipated to drive market growth.

Asia Pacific Patch Based Wound Healing Products Market Trends

Asia Pacific patch based wound healing products market is anticipated to witness significant growth in the forecast period. This is attributed to the region's rapidly expanding healthcare infrastructure and increasing awareness of advanced wound care technologies. In addition, rising incidences of chronic wounds and injuries, and healthcare spending, are further driving the demand for wound healing solutions in this region.

China patch based wound healing products market accounted for a massive share in 2023 owing to its large and rapidly growing population, which has led to an increased incidence of chronic and acute wounds. Additionally, significant investments in healthcare infrastructure and the rising adoption of advanced wound care technologies have contributed to the market's robust performance in the region.

Key Patch Based Wound Healing Products Company Insights

Some key companies in the global patch based wound healing products market include Smith+Nephew, Mölnlycke Health Care AB, Coloplast, Medtronic, and others. Vendors in the market focus on increasing their customer base to gain a competitive edge in the industry. Therefore, key players are undertaking several strategic initiatives, such as mergers and acquisitions and partnerships with other major companies. 

• Smith+Nephew is a global medical technology company known for its innovative solutions in orthopedics, wound care, and sports medicine. Their product range includes advanced joint replacement systems, advanced wound management solutions, and minimally invasive surgical instruments, all designed to improve patient outcomes and enhance the quality of care.

• Mölnlycke Health Care AB is a global medical solutions provider specializing in advanced wound care and surgical products. Their offerings include a range of high-quality wound dressings, such as the Mepilex® and Hydrofiber® lines, as well as surgical drapes and gloves designed to enhance patient safety and support effective healing.

Recent Developments

• In January 2024, Smith & Nephew announced a new study confirming the effectiveness of its Regeneten Bioinductive implant in treating rotator cuff injuries. The study demonstrated that the implant significantly improves tendon healing and reduces re-tear rates compared to standard treatments. This reinforces Regeneten's role as a promising solution for enhancing rotator cuff repair outcomes.

• In March 2024, MIMEDX expanded its product portfolio by introducing a new fibrillar collagen wound dressing, that enhances wound care. This innovative dressing design supports optimal healing and tissue regeneration by providing a supportive matrix for wound repair. The addition of this advanced product underscores MIMEDX's commitment to offer cutting-edge solutions in regenerative medicine and improve patient outcomes.

Patch Based Wound Healing Products Market Report Scope

Global Patch Based Wound Healing Products Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global patch based wound healing products market report based on formulation, application, and region.

• Formulation Outlook (Revenue, USD Million, 2018 - 2030)

  • Povidone-iodine

  • Silver

  • Collagen

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Acute Wounds

  • Chronic Wounds

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait