Intense Competition in the U.S. Wound and Tissue Management Market Driving Innovation

VANCOUVER, BC, Jan. 27, 2025 /PRNewswire/ - The U.S. wound and tissue management market is a highly competitive industry with multiple competing segments positioned as substitutes for one another. This intense competition will limit market growth despite the otherwise strong presence of major drivers of growth including demographic factors, rising rates of diabetes, obesity, and favorable Medicare policies. Competition is further driven by a constant need to innovate to avoid the commoditization of products within the market which would lead to price competition and slim profit margins. The US market for wound and tissue management is expected to grow to reach nearly $16 billion USD by 2030.

Industry Overview

Wound and tissue management involves treating, healing, and managing wounds and damaged tissue for acute and chronic wounds

Acute Wounds involve sudden injuries to the skin that are expected to heal normally over time. These include surgical wounds as well as injuries from falls, sports, outdoor recreation, motor vehicle accidents, occupational injuries, etc. An estimated 17% of all emergency department visits in the U.S. were from in 2022, with falls as the leading cause, accounting for roughly a third of the nearly 27 million nonfatal injury visits. While acute wound care for non-hospital related injuries generates enormous demand for wound and tissue management, they are not a driver of industry growth as injury-related emergency department visits have remained relatively stable.

Chronic Wounds involve injuries to the skin that often occur over time and do not heal normally within a typical 4-12 week time period. The most common of these include venous, arterial, and diabetic ulcers, which are all related to circulatory problems in the legs and feet. Due to their susceptibility to infection, diabetic ulcers are responsible for 80% of all U.S. lower limb amputations. Proper antibiotic, surgical, and wound care treatments can significantly reduce the risk of amputation. 

Drivers of Growth

Demographic Factors are a major driver of growth across the industry as longer life expectancies and the aging baby boomer generation lead to a massive shift in the number of individuals over the age of 65. These older cohorts are at a significantly higher risk of acquiring diseases and health conditions that require surgical interventions and thereby drive the market for wound dressings.

Rising Rates of Diabetes and Obesity across the U.S. are driving a significant increase in the demand for wound and management therapies. Diabetic cohorts are at a significantly elevated risk of developing chronic wounds on their legs and feet due to poor blood circulation. Obese cohorts, which are at a significantly increased risk of developing type 2 (adult onset) diabetes also require surgeries at higher rates for heart disease, circulatory problems, gastric bypass, and organ failure.

Cost Savings to Hospitals from a reduction in infections are significant and can be directly reduced by the advanced technology of dressings and therapeutic support surfaces that can help the wounds close more rapidly. The importance of taking preventative measures for infections has increased with Medicare no longer covering hospital costs from certain hospital-acquired infections (HAI). The U.S. Centre for Disease Control currently estimates that 1 in 31 hospital patients nationwide have a HAI. The average cost of HAIs is estimated to be around $31,000 USD, largely resulting from extended hospital stays because of the infection^[2].

Competition & Substitutes

Many of the market segments within the wound and tissue management market have struggled to make meaningful innovations. Many such segments like the traditional wound dressing and surgical hemostat markets have become commoditized resulting in companies turning to price competition which has driven down average sales prices. Meanwhile, innovative segments like the negative wound pressure therapy market have begun cannibalizing the markets for skin substitutes and antimicrobial dressings as they represent an effective and cost-efficient alternative.

Competitive Analysis

Ethicon leads the total wound and tissue management market by a noticeable margin. This is due to Ethicon's significant share in the wound closure market, which makes up over a quarter of the total wound and tissue management market. Ethicon also leads the surgical hemostat market and has a noticeable share in the anti-adhesion and tissue sealant markets. With all of these markets expected to see solid growth over the forecast period, it is expected that Ethicon will continue to maintain its position as the firm leader of the wound and tissue management market.

Solventum (formerly 3M) is the second-leading competitor in the wound and tissue management market, in large part due to its dominance in the NPWT market, with more than three-quarters of the share. Solventum also has a modest share in the advanced wound dressing market. Advanced wound dressings and NPWT are the second and third largest markets, respectively. Since both markets are set to grow at a CAGR of 4-5%, Solventum will maintain its position as the second-leading competitor in the wound and tissue management market.

Medtronic is the third-leading competitor in the wound and tissue management market, noticeably behind Solventum for second place. Medtronic's position comes from its significant share in the suture, stapler, and ligating clip segments within the wound closure market. This results in slightly over a quarter of the wound closure market share. Despite not being involved in any other wound management markets, Medtronic is the third-leading competitor due to the size of the wound closure market value.

Future Outlook

The U.S. wound and tissue management market has significant growth potential with major drivers like demographics, rising rates of obesity, diabetes, as well as cost savings for hospitals moving the market to reach nearly $16 billion USD by 2030. However, major market leaders such as Ethicon, Solventum, and Medtronic must continue to innovate to capitalize on that potential. Without innovation, these markets will either be cannibalized by emerging market entrants offering new approaches, or devolve into price-based competition as the segments become commoditized.

To learn more and see detailed insights into market drivers, growth projections, and strategic opportunities, visit the link below. Packed with detailed data and expert analysis, it's an essential tool for companies looking to navigate and stay ahead in this rapidly expanding market.

U.S. Wound Therapy and Tissue Management Market | 2024-2030

SOURCE iData Research Inc.