Topical Wound Agents Market

Topical Wound Agents Market Size

Topical Wound Agents Market size was valued at USD 1.7 billion in 2023 and is anticipated to grow at a CAGR of over 7.7% between 2024 and 2032. Topical wound agents refer to the management and treatment of wounds using products that are applied directly to the skin surface. The rising prevalence of both chronic and acute wounds functions as a driving factor for the industry gains. For instance, in the U.S., it is estimated that approximately 6 million people suffer from chronic wounds, annually. These wounds includes diabetic foot ulcers and pressure ulcers, venous ulcers, arterial ulcers, among others.

Moreover, the demand for topical wound agents is fueled by factors such as the growing geriatric population base prone to chronic conditions and impaired wound healing. Additionally, increased surgical procedures, surge in awareness regarding appropriate wound care practices, along with the availability of cutting-edge treatments.

Topical Wound Agents Market Trends

The increasing number of surgical procedures worldwide is leading to a higher demand for wound care products, including topical wound agents, to prevent surgical site infections and promote rapid healing. As surgical treatments become more accessible and affordable globally, more surgeries are estimated to be performed, leading to a higher demand for wound care products. Moreover, technological advancements in surgical techniques and the availability of advanced wound care, which accounted for USD 11.3 billion in 2023.

Topical Wound Agents Market Analysis

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The industry by product is categorized into creams, gels, sprays, and other products. The creams segment garnered USD 667 million revenue size in the year 2023.

• Topical creams often contain active ingredients that support and accelerate the natural healing process of wounds. These ingredients may include progression factors, antimicrobial agents, and substances that facilitate tissue regeneration.

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Based on drug type, the topical wound agents market unfolds into antiseptics, antibiotics, nonsteroidal anti-inflammatory agents (NSAIDS), and other drug types. The antiseptics segment garnered a market share of 34% in 2023.

• Antiseptics are primarily employed to prevent and control infections in wounds. By eliminating or inhibiting the expansion of microorganisms, including bacteria, viruses, and fungi, antiseptics help create a sterile environment conducive to healing.
  
• Chronic wounds often benefit from the inclusion of antiseptics in topical formulations. These wounds are prone to infections due to impaired healing mechanisms, and antiseptics aid in controlling infections.
  

Based on application, the topical wound agents market is segmented into chronic wounds and acute wounds. The chronic wound segment held 79% industry share in 2023.

• The use of topical wound agents in diabetic ulcers is driven by the need to address specific challenges associated with these wounds, reduce complications, and promote effective wound healing in individuals with diabetes.
  
• Further, diabetic patients are at an increased risk of wound infections due to compromised immune function and poor circulation. Topical wound agents help create a barrier against external contaminants, reducing the risk of infection.
  

Based on distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and e-commerce. The hospital pharmacies segment is estimated to account for USD 1.3 billion by 2032.

• Hospital pharmacies play a critical role in providing topical wound agents products for emergency situations and post-surgical care. This includes immediate access to antiseptics, antibiotics, and other wound care essentials to address acute care needs.
  
• Hospital pharmacies adhere to rigorous quality assurance standards and regulatory requirements. The availability of topical wound agents through hospital pharmacies ensures compliance with these standards, promoting patient safety and quality of care.

Based on end-use, the topical wound agents market is segmented into hospitals, clinics, and other end-users. The hospitals segment garnered USD 734 million revenue size in the year 2023.

• Hospitals offer teams dedicated to wound care including nurses with specialized training in diagnosing, treating, and maintaining various types of wounds. They are up to date on the newest methods and tools for wound care.
  
• Additionally, hospitals commonly maintain an extensive array of advanced wound care products, encompassing specialized surgical dressings, negative pressure wound therapy, and other cutting-edge tools for innovative wound management.
  
• This diversity ensures the use of the most fitting and effective wound care agent for each patient's individual wound.

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U.S. topical wound agents market accounted for USD 710 million revenue size in 2023.

• The aging population base in the U.S. is a significant driver for the topical wound agents industry. Elderly individuals are more susceptible to chronic conditions owing to slow wound healing and skin issues, creating a higher demand for wound care solutions.
  
• Additionally, the U.S. witnessed a steady increase in surgical procedures, both elective and non-elective. Topical wound agents play a crucial role in post-surgical wound management, promoting healing, preventing infections, and minimizing scarring.
  

Topical Wound Agents Market Share

The topical wound agents industry is consolidated, with key players including Smith & Nephew Plc., Teva Pharmaceutical Industries Ltd, Mylan N.V., AstraZeneca, and others dominating the market. These companies focus on ongoing product innovation, geographical expansion, and partnerships to secure substantial position in the market. For instance, in February 2023, SERDA Therapeutics, a biopharmaceutical company, announced the submission of an Investigational New Drug Application (IND) to the U.S. FDA for its flagship product, SN514 hydrogel. SN514 hydrogel is a groundbreaking enzymatic wound debriding agent developed by the company. This move substantially broadened company’s array of products, leading to increased revenue streams for the company.

Topical Wound Agents Market Companies

Some of the eminent market participants operating in the topical wound agents industry include:

• Smith & Nephew plc
• Teva Pharmaceutical Industries Ltd.
• Mölnlycke Health Care AB
• Arch Therapeutics, Inc.
• Mylan N.V.
• AstraZeneca
• Osiris Therapeutics, Inc.
• 3M Company
• Coloplast A/S
• Medline Industries, Inc.
• B. Braun Melsungen AG
• Integra LifeSciences Corporation
• Paul Hartmann AG
• SERDA Therapeutics
• Bausch Health Companies Inc.
  

Topical Wound Agents Industry News:

• In April 2019, Bausch Health Companies Inc. announced U.S. FDA approval that its DUOBRII topical lotion containing halobetasol propionate and tazarotene, which is used for the topical treatment of plaque psoriasis in adults. This approval enabled the companies to enhance their product portfolio.
  
• In July 2018, Mölnlycke, a leading medical solutions provider, announced the acquisition of SastoMed, a German provider of wound care products. This acquisition aimed to expand Mölnlycke's wound care portfolio with new innovative products.
  

Topical wound agents market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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By Product, 2018 – 2032 (USD Million)

• Creams
• Gels
• Sprays
• Other products

By Drug Type, 2018 – 2032 (USD Million)

• Antiseptics
• Antibiotics
• Nonsteroidal anti-inflammatory agents (NSAIDS)
• Other drug types

By Application, 2018 – 2032 (USD Million)

• Chronic wounds
  • Diabetic foot ulcers
  • Pressure ulcers
  • Venous leg ulcers
  • Other chronic wounds 
• Acute wounds
  • Surgical & traumatic
  • Burns

By Distribution Channel, 2018 – 2032 (USD Million)

• Hospital pharmacies
• Retail pharmacies
• E-commerce

By End-use, 2018 – 2032 (USD Million)

• Hospitals
• Clinics
• Other end-users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East & Africa