U.S. Wound Care Centers Market Analysis Report By Procedure And Segment Forecasts From 2020 To 2027

Industry Insights

The U.S. wound care center's market size was worth USD 13.0 billion in 2019. The market is projected to register a CAGR of 3.7% over the forecast duration, 2020 to 2027. The rise in the number of chronic diseases and injuries in the geriatric population coupled with the increasing requirement for outpatient services is likely to propel the market growth. In addition, the rising adoption of innovative technologies like hyperbaric oxygen therapy to treat chronic and non-healing injuries is estimated to supplement the market growth.

In the United States, there are reimbursement codes for a specific diagnosis, procedure/service, and products. These updates are updated annually. For example, the ICD-10-CM and ICD-10-PCS were replaced in 2015 by ICD-9-CM and ICD-9-PCS, thereby, allowing service providers to incorporate more details of patient health and encourage public health surveillance across the United States.

The Centers for Medicare and Medicaid Services (CMS) reimburse for advanced therapies like hyperbaric oxygen therapy and other injuries classified under Wagner grade III and higher. Besides, The CPT Codes 97598, 97597, and 11042-11047 are used for the billing of wound care. Easy reimbursement coupled with regulatory updates encourages the adoption of wound care.

Procedure Insights

In 2019, Hyperbaric Oxygen Therapy (HBOT) held the largest share in the United States wound care centers market with over 30.0%. By revenue, this segment is seconded by debridement and specialized dressing methods. Hyperbaric oxygen therapy, which has been used for the treatment of chronic injuries like arterial ulcers and diabetic foot ulcers, has given positive outcomes. Therefore, hyperbaric oxygen therapy is projected to gain traction among physicians.

Wound care centers offer care for different injuries types, chronic injuries, specialized dressings, injuries having infections, and other injuries. Owing to the effectiveness of HBTO in healing chronic and as well as non-chronic diseases, wound care centers are focusing on making it available to patients.

In addition, the adoption of advanced tools like Electronic Medical Records (EMR) has been on the rise among centers. EMR reduces the time taken for documentation, thereby, enabling physicians to focus on providing evidence-based treatment using the data analytics tool.

Impact of COVID-19

COVID-19 has changed the way our medical practices are done. The pandemic has led to a decrease in focus on necessary medical care including wound care in the United States. There have been patient appointments due to the pandemic. Most of the patients are reaching out to doctors by telephone call and other digital media. Service providers also have introduced videos to help in a procedure like changing the wound dressing along with adopting telehealth measures. However, despite the pandemic, wound care patients can be overlooked for a long. If wounds are not treated well, they may cause infection or amputations. With a reduction in the number of COVID-19 cases, the wound care centers are projected to return to their pre-COVID era medical practice soon.

U.S. Wound Care Centers Market Share Insights

Emerge Ortho has its geographical presence in 45 locations across the United States. Besides, Baptist Health South Florida and Tower Wound Care Center have their presence in 11 and 7 hospital facilities respectively. Healogics, Inc. has collaborated with nearly 6000 wound care facilities, thus, becoming one of the major service providers. The market is witnessing the opening of new centers along with expansion. For example, Schoolcraft Memorial Hospital, in early 2019, intended to invest USD 10.0 million to expand its services across different parts of the U.S. Key players operating in the market are SNF Wound Care, EmergeOrtho, Healogics, Inc., Clarion Hospital, and WOUND INSTITUTE OF AMERICA among others.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For this study, Million Insights has segmented the U.S. wound care centers market based on procedure:

  • Procedure Outlook (Revenue, USD Million, 2016 - 2027)
    • Debridement
    • Negative pressure wound therapy
    • Compression therapy
    • Hyperbaric oxygen therapy
    • Specialized dressings
    • Infection control and Others