Professionals 245 Users Online

Wound Healing Ointment Market

Market Study on Wound Healing Ointments: Bulk of Product Sales Accounted for by Antibiotic Ointments

Wound Healing Ointment Market by Drug Class (Antibiotic Ointments and Steroidal Ointments), Sales of Antibiotic Ointments Market are expected to expand at a CAGR of 6.1% from 2022 to 2032.

Wound Healing Ointment Market Outlook (2022 to 2032)

The global market for wound healing ointments recorded a valuation of US$ 958.1 million in 2021 and is expected to reach US$ 1.9 billion by the end of 2032, expanding at a CAGR of 6.2% from 2022 to 2032. According to Persistence Market Research, North America accounted for 26.7% share of the global market in 2021.

Wound healing ointments are used for healing superficial wounds such as abrasions, burns, cuts, or scratches. These ointments are used to control inflammation and infection. Demand for wound healing ointments is increasing due to the rising prevalence of chronic injuries and growing number of surgical procedures. Treatment of wounds, especially chronic wounds, is a major challenge for physicians. Chronic wounds are projected to be a problem for more than 1.5% of the world's population.

Demand for traditional wound-management techniques for both hospital care and home care has been growing around the world. Ointments, creams, and gels are in high demand for treating wounds. Another factor that contributes to longevity, and, consequently, sustained demand for a product, is its adaptability. Low cost, ease of accessibility, and comfort are additional important considerations here.

Sales of wound healing ointments accounted for 61.5% share of the global wound care market in 2021.

Wound Healing Ointment Market Size (2021)

US$ 958.1 Million

Estimated Market Value (2022)

US$ 1.01 Billion

Forecasted Market Value (2032)

US$ 1.9 Billion

CAGR (2022 to 2032)

6.2%

Market Share of Top 5 Countries

61.5%

Sample Report

FREE Report Sample is Available

In-depth report coverage is now just a few seconds away

Download PDF Get FREE Report Sample

Sales Analysis of Wound Healing Ointments (2017 to 2021) Vs. Market Predictions (2022 to 2032)

Sales of wound healing ointments increased at a CAGR of 4.7% from 2017 to 2021 due to a rise in the number of chronic wounds across the globe.

Rising global incidence of diabetes and obesity is a major factor driving the growth of the market for wound healing ointments, as these conditions are directly linked to an increase in the number of chronic wounds. The surgical bruises resulting from oncological operations are large and deep, which leads to a significant amount of exudate and requires regular care. Enzyme-based pharmaceutical products help treat large bruises, thereby significantly reducing the risk of infection. Therefore, an increased incidence of postoperative wound infections is driving the growth of the market for wound healing ointments.

  • According to a report by the National Library of Medicine, non-healing wounds affect between 2% and 6% of the world's population with wound care accounting for 5% of global healthcare spending. The prevalence of both acute and chronic wounds is an increasingly serious global health concern.

Manufacturers are constantly investing in research and development to introduce new and improved wound healing ointments, offering them in various sizes, and exploring new sales channels to reach a wider customer base. They also collaborate with healthcare institutions to advance their products and keep up with the evolving needs of the market. Although these products are essential for daily wound management, they are also packaged in a way that can increase sales.

The COVID-19 pandemic had a significant impact on the market for wound healing ointments. With hospitals around the world dealing with the pandemic, many countries had to cancel elective surgeries to prioritize resources and personnel for COVID-19 patients. In the United Kingdom, for example, the number of people waiting for surgery increased from 4 million to 10 million, with about 100,000 patients having their joint replacement surgery canceled during the first wave of the pandemic.

Thus, owing to the abovementioned factors, the global market for wound healing ointments is expected to grow at a CAGR of 6.2% from 2022 to 2032.

Custom Report Cover

Make This Report Your Own

Take Advantage of Intelligence Tailored to your Business Objective

> Get a Customized Version

What Key Opportunities Await Manufacturers of Wound Healing Ointments?

Regulatory systems in countries such as Brazil and Mexico are expected to become more efficient, which may open up opportunities for new entrants into the market, due to the formalization of practice standards, improvement of clinical treatment recommendations, standardization of product usage, and reduction of registration and licensing times. This will help companies ensure their products meet the quality, safety, and hygiene requirements set by regulatory bodies such as the CDC (the United States), TGA (Australia), and NHS (the United Kingdom).

Additionally, rising awareness about wound infections and wound management among the general populace is driving the growth of the global market for wound healing ointments. For example, the Wound Infection Awareness initiative launched the Stop Wound Infection Program in 2022 to enhance the understanding of wound healing.

Market Research Methodology

Market Research Methodology

-Perfect through Years of Diligence

Check Research Methodology

Will Preference for Natural & Cheaper Remedies Affect Market Progress?

Wound-healing ointments are crucial for treating wounds and preventing further infections. However, people prefer natural remedies as they are less expensive. Complementary and alternative medicine (CAM) practices, including the use of plant-based extracts and naturally occurring substances such as honey, are widely used by the general population.

These factors collectively pose a challenge to the growth of the wound healing ointment market.

Sales Team

Sales Team
Client Partner

Let's Connect

Connect me to identify winning opportunities

Ask An Expert
I'm Available

Country-wise Insights

Why is China a Lucrative Market for Wound Healing Ointment Suppliers?

China accounted for 45.6% share of the East Asian wound healing ointment market in 2021.

The increasing elderly population and the associated rise in chronic wounds are anticipated to drive the growth of the market for wound healing ointments in China. Injuries are the fifth leading cause of death in China. Elderly individuals often experience delayed wound healing, making wound management a necessity for this population.

According to the World Economic Forum, there are already 267 million people in China who are 60 years or older, making up 18.9% of the total population. This number is expected to grow, with projections suggesting that one-third of the population could be aged 60 or older by 2050.

In addition, China’s growing population and the increasing incidence of chronic diseases such as diabetes are expected to drive the demand for wound healing ointments in this country.

Why Does the United States Hold a Leading Share of the Global Market?

The United States accounted for 93.9% share of the North American market in 2021.

Rising prevalence of ulcers or chronic wounds associated with diabetes in the United States is driving the demand for wound-healing ointments. Poor eating habits are leading to an increasing number of patients with diabetes

  • As per the Centers for Disease Control and Prevention (CDC), 11.3% of the population in the United States has diabetes, while 38% of adults are pre-diabetic.

In addition, advancements in formulation and technology are driving the development of innovative and advanced wound care products, which is expected to boost the growth of the wound care market. This in turn is expected to drive the demand for wound healing ointments during the forecast period.

How is the Market for Wound Healing Ointments Evolving in Germany?

Germany accounted for 25.4% share of the European wound healing ointment market in 2021.

Germany’s healthcare sector is known for its high-quality care, strict ethical requirements, and quick access to specialists. The incorporation of wound care into healthcare facilities in Germany makes the market for wound healing ointments highly lucrative. This is achieved through ongoing education and by increasing awareness about the proper usage of these products, thus promoting effective wound care that aligns with the current best practices. As a result, patients receive better care, and brand loyalty for wound healing ointments is strengthened.

Category-wise Insights

Which Factors are Contributing to High Demand for Antibiotic Ointments?

Antibiotic ointments occupied a share of 44.6% of the global wound healing ointment market in 2021. Sales of antibiotic ointments are expected to expand at a CAGR of 6.1% from 2022 to 2032.

Antibiotic ointments are a widely used form of first aid and are a part of most first aid kits. They hold a significant market share due to their versatility in treating a wide range of injuries, from minor to major. Additionally, they are commonly used to treat burns and bruises from surgeries.

Why is Demand for Ointments for Acute Wounds Expected to Remain High?

Ointments for acute wounds accounted for 56.3% of the global wound healing ointment market in 2021. The market for acute wounds is anticipated to progress at a CAGR of 5.9% from 2022 to 2032.

Acute wounds typically go through the natural stages of healing and can be easily treated with standard care and wound healing ointments. As a result, this segment is experiencing significant growth and capturing a large share of the market.

Which Distribution Channel Accounts for High Sales of Wound Healing Ointments?

Retail pharmacies held a share of 42.2% of the global market for wound healing ointments in 2021. The widespread availability of wound care medications by prescription and over-the-counter wound ointments in retail pharmacies is driving the growth of the wound healing ointment market and is expected to continue to do so in the future.

Competitive Landscape

The market for wound healing ointments is highly fragmented due to the presence of many small and large firms. Leading manufacturers regularly introduce innovative ointments for wound treatment and collaborate with other companies to enhance the production of these products.

Examples of key strategies employed by leading manufacturers of wound healing ointments are:

  • In July 2019, MediWound launched EscharEx, a second-generation topical, biological gel product designed to treat hard-to-heal chronic wounds and conditions such as leg ulcers and diabetic foot ulcers.
  • In March 2021, Smith Nephew announced the launch of the IODOSORB ointment, a treatment for chronic wounds that speeds up the healing process by two times compared to standard care and results in a significant reduction in the wound area.

Wound Healing Ointment Industry Report Scope

Attribute

Details

Forecast Period

2017 to 2021

Historical Data Available for

2022 to 2032

Market Analysis

US$ Million/Billion for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • The Middle East & Africa

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Argentina
  • United Kingdom
  • Germany
  • Italy
  • Russia
  • Spain
  • France
  • Benelux
  • India
  • Thailand
  • Indonesia
  • Malaysia
  • Japan
  • China
  • South Korea
  • Australia
  • New Zealand
  • Türkiye
  • GCC Countries
  • South Africa

Key Market Segments Covered

  • Drug Class
  • Application
  • Distribution Channel
  • Region

Key Companies Profiled

  • 3M
  • Taro Pharmaceutical Industries Ltd
  • Smith & Nephew
  • Novartis AG
  • Pfizer Inc.
  • Mölnlycke Health Care AB
  • ConvaTec
  • Coloplast
  • MiMedx
  • Cardinal Health
  • Integra LifeSciences Corporation
  • Johnson & Johnson Services, Inc.
  • Teva Pharmaceuticals USA, Inc.
  • Angelini Pharma Inc.
  • BD
  • B. Braun Melsungen AG
  • PSK Pharma Pvt. Ltd.
  • Schülke & Mayr GmbH
  • Ecolab
  • Mylan N.V.

Pricing

Available upon Request

Key Segments of Wound Healing Ointment Industry Research

By Drug Class:

  • Antibiotic Ointments
  • Steroidal Ointments
  • Anti-inflammatory Ointments
  • Others

By Application:

  • Acute Wounds
  • Chronic Wounds

By Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa (MEA)

- Companies Covered in This Report -

  • Taro Pharmaceutical Industries Ltd
  • 3M
  • Smith & Nephew
  • Novartis AG
  • Pfizer Inc.
  • Mölnlycke Health Care AB
  • ConvaTec, Coloplast
  • MiMedx
  • Cardinal Health
  • Integra LifeSciences Corporation
  • Johnson & Johnson Services, Inc.
  • Teva Pharmaceuticals USA, Inc.
  • Angelini Pharma Inc.
  • BD
  • B. Braun Melsungen AG
  • PSK Pharma Pvt. Ltd.
  • Schülke & Mayr GmbH
  • Ecolab
  • Mylan N.V.

- Frequently Asked Questions -

The global wound healing ointment market was valued at US$ 958.1 million in 2021 and is set to expand at a CAGR of 6.2% through 2032.

The market for wound healing ointments is expected to reach a valuation of US$ 1.9 billion by 2032.

Rising number of accidents, increasing cases of acute wounds, growing aging population, and increasing number of diabetic patients are key trends in the market for wound healing ointments.

India, the United States, China, Germany, and Indonesia are expected to drive the most demand for wound healing ointments.

North America accounts for a substantial share of the global market. The United States accounted for 93.9% share of the North American market in 2021.

Demand for wound healing ointments in Europe is expected to increase at a CAGR of 5.9% through 2032.

The United States, China, and India are leading manufacturers of wound healing ointments.

3M, Novartis AG, and Pfizer Inc. are key wound healing ointment producers.

This site uses cookies, including third-party cookies, that help us to provide and improve our services. Privacy Policy
Google translate