Chronic wounds represent a major global health problem, causing staggering economic and social burdens. The pursuit of effective wound healing strategies demands a multidisciplinary approach, and advances in material sciences and bioengineering have paved the way for the development of novel wound healing biomaterials and technologies. In this Review, we provide an overview of the history and challenges of wound management and highlight the current state-of-the-art in wound healing biomaterials alongside the emerging technologies poised to transform the landscape of chronic wound treatment and monitoring. Moreover, we discuss the clinical and commercial considerations associated with wound healing strategies, including the regulatory pathways and key steps in the translational process. Furthermore, we highlight existing translational gaps, and offer a nuanced understanding of the challenges that persist in translating innovative concepts into mainstream clinical practices. Continued innovations and interdisciplinary collaboration will pave the way for better wound care outcomes and potentially dramatically improved quality of life for a steadily increasing and aging population.