Industry Leaders in the Wound Care Industry Sector - An Overview of Market Dynamics

The worldwide Wound Care Industry was equal to around USD 22.8 billion out of 2023, and is projected to grow at a CAGR of 6.18%, arriving at an estimated worth of USD 34.46 billion by 2030. This growth is attributed to the need for effective wound management solutions, the global aging population, and increasing prevalence of chronic wounds. The top companies at the forefront of this sector are constantly innovating, expanding through mergers and acquisitions, and investing in promising new solutions to stay ahead or extend their lead in the market.

The data is dated through October 2023.

Convatec Group Plc: Based in the United Kingdom, Convatec makes products for chronic conditions, including advanced Wound Care Industry, ostomy care, continence care and infusion devices. The firm has shifted its attention to the chronic diseases market, sacrificing its business in low-margin product lines. By 2023, 97% of Convatec’s revenues were derived from products for chronic conditions that bring dependable revenue streams. The company has also stepped up its focus on innovation, with a goal of 30 percent of all sales coming from products less than five years old by 2025.

Coloplast A/S: This Danish multinational company develops a portfolio of medical products inaccessible via prescription, such as ostomy care, urology, continence care, and wound and skin care. Coloplast is known for its dedication to enhancing the quality of life for people with intimate healthcare needs. The Wound Care Industry segment of the company offers products target to create the environment for ideal healing.

Organogenesis Inc. — The American regenerative medicine company focused on advanced Wound Care Industry and surgical biologics. The Company specializes in bioactive and acellular biomaterials products for the treatment of chronic and acute wounds.

Johnson & Johnson (Ethicon) — part of the giant drugmaker Johnson & Johnson, Ethicon has been a force going back to 1887 in surgical sutures and wound closure devices. It covers 50 countries with products like Prolene, Monocryl, Vicryl, Ethilon, and Gynecare.

Smith & Nephew plc: A British multinational medical equipment manufacturing company, Smith & Nephew plc produces advanced wound management products, arthroscopy products, trauma and clinical therapy products and orthopedic reconstruction products. As of 2024, Smith & Nephew employs approximately 18,000 people, and its products are sold in over 100 countries.

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Recent Merges and Acquisitions

In the past decade, the wound care industry has seen several major mergers and acquisitions, all in the name of bolstering product portfolios and expanding market access:

Convatec Strategic Acquisitions: In early 2022 Convatec purchased Triad Life Sciences Inc., a U.S.-based Wound Care Industry company for $125 million and rebranded it many months later as Convatec Advanced Tissue Technology. In 2023, Convatec acquired the anti-infective nitric oxide technology platform of 30 Technology Ltd., enhancing its advanced wound care portfolio.

Integra LifeSciences Acquires Derma Sciences: In January 2017, Integra LifeSciences purchased Derma Sciences for $204 million, gaining the TCC-EZ Total Contact Cast, a product used in the treatment of diabetic foot ulcers. Integra purchased Johnson & Johnson’s Codman Neurosurgery business in October 2017 for $1.045 billion, and in January 2021, it paid $400 million for regenerative medicine company ACell, furthering its Wound Care Industry and regenerative medicine portfolio.

Wound Care Industry Market Update

Here are the hot trend and strategic collaborations in the Wound Care Industry:

New Funding and Investments

There has been significant investment in the industry to promote innovation and broaden capabilities:

Strategic Financing — In July 2024, MediWound led a notable $25 million investment from Mölnlycke Health Care. This series breaks down the next stage of clinical development and manufacturing capabilities of MediWound's EscharEx product, which is expected to create a significant impact in the market, constituting a partnership in both new clinical developments and cutting-edge manufacturing technologies.

These trends signify the dynamic nature of the Wound Care Industry, with top companies vigorously pursuing them through strategic initiatives to innovate and expand their market share. With the increasing need for innovative wound care solutions, such partnerships and investments are seen as key to the industry's future.