Traditional Wound Management Market Size, Share, Growth Analysis, By Product(Gauze, Bandage, Cotton, Others), By Application(Acute wound, Chronic Wound), By End-User(Hospitals & Clinics, Home Healthcare, Ambulatory Surgical Centers, Other), By Region - Industry Forecast 2024-2031

Global Traditional Wound Management Market size was valued at USD 6.5 billion in 2022 and is poised to grow from USD 6.76 billion in 2023 to USD 9.25 billion by 2031, growing at a CAGR of 4% in the forecast period (2024-2031).

The expansion of this market is attributed to the escalating frequency of accidents, the proliferation of Ambulatory Surgical Centers (ASCs), and the surging prevalence of chronic ailments worldwide. The upsurge in chronic diseases such as urological disorders, cancer, Cardiovascular Disorders (CVDs), neurovascular conditions, and other persistent health issues has gained momentum. These enduring maladies account for approximately 60% of global mortality, as per World Health Organization (WHO) statistics. The International Diabetes Federation (IDF) projected a 10.5% global prevalence of diabetes in individuals aged 20 to 79 in 2021, reaching 536.6 million people, with an estimated increase to 12.2% (783.2 million) by 2045.

Moreover, cancer has emerged as a significant contributor to the global healthcare burden, standing as a major cause of mortality. WHO estimates designate cancer as a foremost global cause of death, with nearly 1 in 6 fatalities attributed to the disease. Furthermore, over 70% of cancer-related deaths transpire in middle- and low-income countries. The surge in chronic ailment prevalence has consequently led to a rise in surgical procedures conducted. ASCs have expanded their offerings to encompass surgical care, diagnostics, and preventative interventions.

US Traditional Wound Management Market is poised to grow at a sustainable CAGR for the next forecast year.