AI in Wound Care Market to Reach USD 16.4 Billion by 2035 | Roots Analysis

Artificial Intelligence (AI) is making significant strides in transforming the wound care domain. The integration of artificial intelligence into healthcare workflows has the potential to automate various tasks, thereby allowing healthcare providers to focus more on delivering quality patient care. 

Further, the combination of AI and telemedicine platforms has enabled remote wound monitoring, thereby, enhancing the efficiency of healthcare delivery. Moreover, through the analysis of wound care data, AI can identify various patterns and trends, leading to the development of evidence-based practices in wound management. Notably, AI is reshaping the field of wound management by streamlining decision-making processes and driving advancements towards patient care.

According to our latest market report, the global AI in wound care market size is projected to reach USD 16.4 billion by 2035 from USD 0.6 billion in 2024, growing at a CAGR of 35% in the forecast period 2024-2035. 

Market Players

Examples of key companies engaged in AI in wound care market (which have also been profiled in this market report; the complete list of companies is available in the full report) include (in alphabetic order) eKare, Healthy.io, Kronikare, Intellicure, Perceptive Solutions, Spectral AI, Swift Medical, The Wound Pros, Tissue Analytics and Wound Vision. 

Market Segments 

Based on the type of wound, the market is segmented into acute wounds and chronic wounds.

§  The chronic wounds segment capture the largest revenue share of more than 70% in the AI in wound care market, in 2024.

§  The chronic wounds segment is anticipated to be the fastest growing segment in this industry, with annualized rate (CAGR) of 36% during the forecast period.

Based on the type of acute wound, the market is segmented into burns, surgical site infections and other acute wounds.

§  The surgical site infections segment capture the largest revenue share of close to 70% in the AI in acute wound care market, in 2024.

§  The burns segment is anticipated to be the fastest growing segment in this industry, with annualized rate (CAGR) of 35% during the forecast period.

Based on the type of chronic wound, the market is segmented into venous ulcers, diabetic ulcers, pressure ulcers and other chronic wounds.

§  The venous ulcers segment capture the largest revenue share of more than 50% in the AI in chronic wound care market, in 2024.

§  The Venous ulcers segment is anticipated to be the fastest growing segment in this industry, with annualized rate (CAGR) of 37% during the forecast period. 

Based on the type of AI Technology, the market is segmented into deep learning, machine learning, and other technologies.

§  The machine learning segment capture the largest revenue share of close to 50% in the AI in wound care market, in 2024.

§  The deep learning segment is anticipated to be the fastest growing segment in this industry, with annualized rate (CAGR) of 37% during the forecast period.

Based on the end user, the market is segmented into clinical trials and research centers, home health agencies, hospitals, nursing facilities and other end users. 

§  The home health agencies segment capture the largest revenue share of close to 30% in the AI in wound care market, in 2024.

§  The home health agencies segment is anticipated to be the fastest growing segment in this industry, with annualized rate (CAGR) of 36% during the forecast period.

AI in Wound Care Market Regional Outlook

Based on the key geographical regions, the AI in wound care market can be segmented into five major regions, including North America, Europe, Asia-Pacific, Latin America and Middle East and North Africa. North America is anticipated to capture the majority of the AI in wound care market in 2024. Further, the AI in wound care in Middle East and North Africa is accounted to be the fastest-growing segment of the market. This is primarily due to the rising adoption of AI-powered wound care solutions owing to the growing incidence of chronic wounds. 

Key Report Takeaways

§  Currently, more than 30 AI-powered wound care solution providers are available across the world; majority of the service providers are based in North America

§  Since 2019, more than 20 partnerships related to AI in wound care have been inked by various stakeholders to enhance their technology portfolios

§  Grants worth over USD 235 million have been awarded since 2019; additionally, ~50% of these grants were awarded in the year 2023

§  Owing to the financial prosperity and the cultural norms present in the region, the US has emerged as a hub of the established players and the new entrants in this industry

§  Post-2019, a considerable increase in partnership activity has been witnessed in this domain; more than 45% of the deals were focused on technological utilization agreements, signed primarily by the players based in the US 

§  Several investors have realized the opportunity within the domain of AI in wound care and invested around USD 310 million across various funding rounds in the past six years

§  Owing to technological advancements, the AI in wound care market is anticipated to witness an annualized growth of 35%, over the next decade

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