The Latin America Advanced Wound Care Market, valued at US$285.9 million in 2024, is on a dynamic growth trajectory. Projected to expand at a robust CAGR of 9.8%, the market is expected to reach US$312.8 million in 2025 and surge to US$498.2 million by 2030.
This rapid growth is largely driven by the rising prevalence of diabetes, a surge in traumatic and burn injuries, and the expanding geriatric population—factors that collectively increase the demand for effective wound management solutions. Moreover, emerging LATAM economies are creating new opportunities as healthcare infrastructure strengthens and awareness about advanced wound care solutions continues to rise. Together, these elements are fueling a thriving market landscape that both local innovators and global leaders are eager to tap into.
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Market Segmentation Insights
By Wound Type:
The LATAM advanced wound care market is segmented into acute wounds and chronic wounds, with the chronic wounds segment accounting for the largest share in 2024. This dominance stems from the rising incidence of traffic accidents, workplace injuries, and trauma-related cases that demand prompt and effective treatment. Additionally, an increasing number of surgical procedures is expected to accelerate the need for post-operative wound care, further driving market expansion.
By End User:
The market is categorized into hospitals & clinics, ambulatory surgery centers, home care settings, and other end users. In 2024, hospitals & clinics emerged as the leading end-user segment. The growing burden of pressure ulcers, diabetic foot ulcers, and post-surgical wounds has amplified the need for advanced wound care products in these settings. Hospitals, with their trained professionals, established treatment protocols, and broad access to cutting-edge products, remain at the forefront of market adoption.
By Geography:
Geographically, the market spans Brazil, Mexico, Colombia, Argentina, Peru, Chile, and the Rest of Latin America. Brazil leads the region, holding a commanding 42.3% market share in 2024. The country’s high rates of diabetes, obesity, and road accidents, coupled with its strong manufacturing base and growing number of surgical procedures, are key growth contributors. These factors have positioned Brazil as the most lucrative market for advanced wound care solutions in LATAM.
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Key Players and Strategic Developments
Leading companies shaping the LATAM advanced wound care landscape 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)
Following its spin-off from 3M in April 2024, Solventum has emerged as an independent player with a clear focus on innovation and customer-centric healthcare solutions. Leveraging its heritage in material science and digital integration, Solventum continues to enhance clinical and economic outcomes across its four core segments—MedSurg, Dental Solutions, Health Information Systems, and Purification & Filtration. The company’s strategic direction positions it as a strong competitor in the wound care segment.
Mölnlycke AB (Sweden)
Mölnlycke AB maintains a significant presence in Latin America, operating across Argentina, Colombia, Brazil, and Mexico. The company has actively pursued inorganic growth strategies to strengthen its wound care portfolio. In October 2024, Mölnlycke acquired P.G.F. Industry Solutions (Austria), the maker of Granudacyn wound cleansing and moistening solutions, expanding product availability across 50+ countries. The firm also partnered with Transdiagen (UK) to explore novel wound gene signatures, advancing its capabilities in biologically driven wound care innovation.
Coloplast Group (Denmark)
Coloplast stands out as a key player in the LATAM market, offering a comprehensive range of wound care solutions designed to improve healing outcomes. Operating through five business segments—Ostomy Care, Continence Care, Advanced Wound Care, Interventional Urology, and Voice & Respiratory Care—Coloplast provides wound care under its Comfeel (hydrocolloid dressings) and Biatain (foam dressings) brands. With widespread availability in hospitals, wholesalers, and retail channels, Coloplast continues to strengthen its regional market presence.
Market Outlook
As Latin America’s healthcare sector modernizes and chronic disease rates rise, the demand for innovative wound care technologies—including hydrocolloid, foam, alginate, and antimicrobial dressings—will continue to soar. Supported by favorable demographics, greater healthcare investment, and the expansion of global medical manufacturers, the region is set to become one of the fastest-growing advanced wound care markets worldwide.
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