Latin America Advanced Wound Care Market worth US$498.2 million by 2030 with 9.8% CAGR | MarketsandMarkets™
DELRAY BEACH, Fla., April 23, 2025 /PRNewswire/ -- The global Latin America Advanced Wound Care Market, valued at US$285.9 million in 2024, is forecasted to grow at a robust CAGR of 9.8%, reaching US$312.8 million in 2025 and an impressive US$498.2 million by 2030. The increasing prevalence of diabetes, the rising cases of traumatic & burn injuries, and the expansion of the geriatric population along with age-associated syndromes are the key factors driving market growth. Additionally, the growth potential of emerging countries is a critical element contributing to market development. As these countries in the LATAM region experience economic growth and rising improvements in healthcare infrastructure, the demand for advanced wound care products is also set to increase. These factors collectively create a promising environment for market growth, with both local & international companies seeking to capitalize on the demand for advanced wound care solutions.
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By Based on wound type, the LATAM advanced wound care market is segmented into acute wounds and chronic wounds. The chronic wounds segment accounted for the largest share of the market in 2024. The large share of this segment can be attributed to the rising number of traffic accidents, workplace injuries, and other trauma-related incidents that require immediate medical care. The increasing number of surgical procedures is also expected to drive the demand for post-operative wound care, fuelling this segment's market growth.
By end user, the LATAM advanced wound care market is divided into hospitals & clinics, ambulatory surgery centers, home care settings, and other end users. In 2024, the hospitals & clinics segment accounted for the largest share of the market. The rising incidence of pressure ulcers and post-operative wounds stimulates the need for advanced wound care products in hospitals & clinics. Hospital visits for wound care have also increased due to the expanding geriatric population and the associated rise in diabetic foot ulcers and pressure ulcers. The efficiency of hospitals & clinics with efficient staff, established protocols, and the availability of several advanced wound care products are expected to contribute to market growth.
By geography, the LATAM advanced wound care market is segmented into Brazil, Mexico, Colombia, Argentina, Peru, Chile, and the rest of Latin America. Brazil accounted for the largest market share of 42.3% in the LATAM advanced wound care market. The increasing prevalence of diabetes, the rising number of surgical procedures, and the presence of leading LATAM advanced wound care manufacturing companies in Brazil contribute to market growth. Brazil has also observed a rise in obesity cases and road accidents, which are expected to fuel market adoption of advanced wound care products.
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Prominent players in the LATAM advanced wound care market include Solventum (US), Smith+Nephew (UK), Cardinal Health (US), B. Braun SE (Germany), Mölnlycke AB (Sweden), Essity Aktiebolag (Sweden), Convatec Group PLC (UK), PAUL HARTMANN AG (Germany), Coloplast Group (Denmark), Integra LifeSciences Corporation (US), MATIV HOLDINGS, INC. (US), Owens & Minor (US), and AVERY DENNISON CORPORATION (US).
Solventum (US):
In April 2024, after its spin-off from 3M, Solventum began its operations as a standalone company. Although the firm profited from 3M's assets and reputation previously, it is now focused on creating its own brand identity. Solventum creates, produces, and markets various products to satisfy customer demands and establish a brand image. The company primarily operates through four business segments: MedSurg, Dental Solutions, Health Information Systems, and Purification & Filtration. Solventum's integration of material science and digital capabilities is expected to strengthen its competitive edge, improving its clinical & economic outcomes for healthcare providers.
Mölnlycke AB (Sweden)
Mölnlycke AB has a global presence owing to its vast distribution network. The firm has a presence across LATAM, including Argentina, Colombia, Brazil, and Mexico. The company expands its presence via inorganic strategies to enhance business operations. For instance, in October 2024, Mölnlycke acquired P.G.F. Industry Solutions (Austria), the manufacturer of Granudacyn wound cleansing & moistening solutions. The acquisition strengthens Mölnlycke's wound care portfolio and expands the distribution of Granudacyn, which is currently available in over 50 countries. Similarly, in October 2024, the company partnered with Transdiagen (UK) to explore novel wound gene signatures for wound care product innovation. The collaboration provides Mölnlycke access to Transdiagen's models to generate insights into biological wound treatment solutions and enhance evidence-based product development.
Coloplast Group (Denmark)
Coloplast is a leading provider of LATAM advanced wound care products. The firm offers various medical products to support patient care and improve treatment outcomes. With a robust product portfolio, Coloplast is one of the leading players in the LATAM advanced wound care market. The company operates through five segments: Ostomy Care, Continence Care, Advanced Wound Care, Interventional Urology, and Voice & Respiratory Care. The company provides wound care products through its Advanced Wound Care segment. The Wound & Skin Care subsegment offers hydrocolloid dressings under the Comfeel brand while foam dressings under the Biatain brand. Coloplast's products are provided in hospitals and through wholesalers and retailers.
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