Wound Dressings Market Analysis and Forecast to 2032: By Type (Advanced Wound Dressings, Traditional Wound Care Products, Negative Pressure Wound Therapy, Bioactive, Others), Application (Chronic Wounds, Acute Wounds), End User (Hospitals, Clinics, Homeca

Wound Dressings Market Analysis and Forecast to 2032: By Type (Advanced Wound Dressings, Traditional Wound Care Products, Negative Pressure Wound Therapy, Bioactive, Others), Application (Chronic Wounds, Acute Wounds), End User (Hospitals, Clinics, Homecare Settings, Others), and Region

The Wound Dressings market was valued at USD 17.5 billion in 2022 and it is anticipated to grow further till USD 31.8 billion by 2032, at a CAGR of 6.2% during the forecast period.

According to British Diabetic Association, diabetic individuals have a 30x greater risk of getting an amputation than the general population. Due to the high likelihood, many amputation surgeries are performed each year, necessitating effective wound dressing to stop infections after surgery. Active, passive, and interactive dressings are the three categories into which wound dressings are divided. Products for wound dressings that are passive serve solely a protective purpose, whereas active wound dressings encourage healing by maintaining a moist wound environment. As a result, it is anticipated that demand for cutting-edge wound dressings made of hydrogels and foams will rise.

Global Wound Dressings Market Scope and Report Structure

Market Trends and Drivers

The market is anticipated to expand as a result of an increase in traumatic accidents around the world, an increase in the geriatric population, and the incidence rate of various wounds such as pressure ulcers and surgical site wounds. Globally, the number of chronic lesions such diabetic foot ulcers and venous leg ulcers is rising. For instance, the NCBI estimates that approximately 6.5 million Americans suffer from various types of chronic wounds.

Market Restraints and Challenges

Chronic wounds, such as leg ulcers, pressure sores, and diabetic foot ulcers, can become more serious as a result of delayed diagnosis and treatment, necessitating foot amputations. In contrast to Western countries, the rate of delayed diagnosis is significantly higher in rising nations like Brazil, China, and India. This is brought on by a lack of set regulations and action plans by governing authorities, a lack of access to well-developed healthcare infrastructure, and a lack of awareness among communities about difficult-to-heal wounds.

Global Wound Dressings Market Segmental Overview

The report analyses the global Wound Dressings market based on the type, application, end user, and region.

Global Wound Dressings Market by Type

Based on the type, it is segmented into advanced wound dressing, traditional Wound Care products, negative pressure wound therapy, bioactive, and others. The advanced wound dressing segment is anticipated to dominate the market during the forecast period. The high growth of the segment is primarily attributed to the higher demand and adoption of foam dressings, antimicrobial dressings and alginate dressings. Moreover, rising cases of obesity and venous leg ulcers. For instance, as per a study by Sage Journals, the prevalence rate of obesity in India is 40.3%. Similarly, according to WHO, 25.1% of people in Germany are obese. Obese people are more susceptible to venous leg ulcers, thus, rising obesity among the population is expected to help the advanced dressing segment dominate over the forecast period.

Global Wound Dressings Market by Application

Based on the application, it is segmented into chronic wounds, and acute wounds. The chronic wounds segment is anticipated to dominate the market during the forecast period. The dominance is primarily attributed to the increasing patient population suffering from diabetic foot ulcers and pressure ulcers, coupled with the increasing expenditure on treating these conditions. Similarly,  increasing incidence of chronic diseases and the geriatric population globally. For instance, as per Ageing Asia, in Indonesia, the number of people aged above 60 was 27,524,000 in 2019, which is projected to reach 69,792,000 in 2050. Similarly, there has been increasing in people suffering from diabetes & diabetic foot ulcers. For instance, as per ScienceDirect, diabetic foot ulcers may affect 25% of the diabetic population & may lead to amputation in around 20% of the infected population. According to American Diabetes Association, in 2018, around 34.2 million people in the U.S. has diabetes, which according to BMC Population Health Metrics is anticipated to triple by 2060. Thus, boosting the segment growth.

Global Wound Dressings Market by End User

Based on the end user, it is segmented into hospitals, clinics, home care settings, and others. The hospital segment is anticipated to dominate the market during the forecast period. The growth of the segment is primarily attributed to the increase in the number of multispecialty hospitals with departments dedicated to wound management, majorly in emerging countries. Furthermore, rising surgical procedures and an increasing number of hospitals. For instance, according to a study published by NCBI in 2020, globally, an estimated of 310 million surgical cases are recorded annually, out of which 40 million - 50 million are carried out in the U.S. alone. Moreover, there has been an increase in the number of hospitals and hospitalization worldwide. For instance, as per the Australian Institute of Health & Welfare, the number of hospitalization in Australia has increased. For instance, in 2019 - 2020, 11.1 million people in Australia were hospitalized. Thus, due to the aforementioned factors, the hospital segment is expected to dominate the end-use segment.

Geographical Analysis of the Global Wound Dressings Market

Region-wise, it is studied across the North America, Europe, Asia Pacific, and the Rest of the World. The North American region is anticipated to dominate the market during the forecast period. The strong presence of key players in the region, large patient population suffering from chronic and acute wounds, and higher per capita healthcare expenditure are some of the major factors boosting the growth of the market. Additionally, an increase in the number of surgeries in the North American region is expected to impel the wound dressing market. For instance, according to Life Span Organization, approximately 500,000 open heart surgeries were performed in the U.S. in 2018. Similarly, according to AHA Journals, approximately, 40,000 children undergo congenital heart surgery in the U.S. As such surgeries take time to heal, and wound dressing products help in healing these wounds in a quick duration. Hence, wound dressings are preferred post-surgery, thereby, impelling the wound dressing market in the North American region.

Major Players in the Global Wound Dressings Market

The major players analyzed in the report are 3M; Coloplast Corp.; Medline Industries; Smith & Nephew; Medtronic; ConvaTec Group PLC; Derma Sciences (Integra LifeSciences); Ethicon (Johnson & Johnson); Baxter International; and Molnlycke Health Care AB among others.

COVID-19 Impact

The COVID-19 outbreak has had a detrimental effect on the market. In 2020, few market participants reported revenue losses as a result of the pandemic. Additionally, in the early half of the year, the governments of major nations redistributed beds, nurses, and other critical staff to clinics in order to treat COVID-19 patients. As a result, wound management was removed from the list of essential procedures. The revenue generated in 2020 was significantly down for several market participants. For instance, the advanced wound management business of Smith & Nephew plc had a 5.1% decline. Additionally, ConvaTec Inc. saw a 4.1% drop in revenue from its advanced Wound Dressings segment in 2020 compared to 2019.

Recent Developments

November 2021, ConvaTec Group PLC extended its partnership with Vizient, Inc., for advanced Wound Dressings products, technologies and services for a further three years up to 2025.

June 2020, Molnlycke Health Care AB announced the launch of new Wound Dressings patient educational resources to support patients and healthcare professionals during the coronavirus pandemic.

January 2020, ConvaTec announced the launch of ConvaMax, which helps in managing highly excluding wounds, including leg ulcers, surgical wounds, and diabetic foot ulcers.

September 2018, ConvaTec received the US FDA 510(k) clearance for its AQUACEL Ag advantage antimicrobial dressings.

November 2018, Molnlycke introduced the Mepilex Border Flex dressing engineered to support fewer dressing changes and reduce dressing costs and waste while creating an optimal healing environment.

Frequently Asked Questions

Q1. How big is the Wound Dressings market?

Ans. The global Wound Dressings market size was USD 17.5 billion in 2022 and it is anticipated to grow further till USD 31.8 billion by 2031, at a CAGR of 6.2% from 2022 to 2032

Q2. What is the Wound Dressings market growth rate?

Ans. The growth rate of the Wound Dressings market is 6.2%.

Q3. Which region holds a major market share for the Wound Dressings market?

Ans. North America holds a major market share of the Wound Dressings market in 2021.

Q4. Which segment accounted for the largest Wound Dressings market share?

Ans. By end user, the hospitals segment accounted for the largest Wound Dressings market share.

Q5. Who are the key players in the Wound Dressings market?

Ans. The global Wound Dressings market report includes players such as 3M; Coloplast Corp.; Medline Industries; Smith & Nephew; Medtronic; ConvaTec Group PLC; Derma Sciences (Integra LifeSciences); Ethicon (Johnson & Johnson); Baxter International; and Molnlycke Health Care AB among others.

Q6. What are the factors driving the Wound Dressings market growth?

Ans. The major factors driving the growth of the market are the growing healthcare market in emerging countries.

Q7. What are the key growth strategies of Wound Dressings market players?

Ans. The key growth strategies of Wound Dressings market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Wound Dressings market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Wound Dressings market during the forecast period.

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