The global market for advanced wound management products was valued at $10.7 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.2% to reach $15.3 billion by 2028.

It is estimated that nearly 50 million people suffer from hard-to-heal wounds globally. The incidence is expected to rise with ageing populations worldwide as well as the increasingly common occurrence of chronic conditions such as diabetes and obesity.