Global Wound Dressing Market 2022-2028

Global Wound Dressing Market 2022-2028

Global wound dressing market size was $13.0 billion in 2021 and is projected to grow at a CAGR of 5.8% during the forecast period (2022-2028). Wound care products are used to prevent infection and provide protection from common infectious bacteria and other contaminants. Chronic wound includes surgical and traumatic wound, vascular-venous stasis, arterial ulcers, pressure ulcers, and diabetic foot ulcers (neuropathic). Pressure ulcer wound is common in the elderly population, as there are high possibilities of diabetes in the elderly population that results in wound infections and chronic ulcers.

The demand for advanced wound dressing products such as alginates dressing, hydrocolloid dressing, and hydrogels dressing is on the rise in order to prevent further infection of the chronic wound. Further, the increasing awareness of wound care is also one of the major factors that are driving the market growth. Moreover, as the elderly population increases, it is expected to increase the number of surgical procedures performed. This is further expected to increase the demand for wound dressing for the prevention and treatment of surgical wounds.

Moreover, there are numerous burn centers across the globe, which also aid in the demand for wound dressing across the globe. One of the major factors that significantly drives the market is the surging pool of population with aged people across the globe. This population pool is more likely to develop pressure ulcers than younger ones. These pressure ulcers are largely prevented by using effective treatment, part of which includes the usage of medical tapes & bandages over the ulcer wound. This, in turn, tends to drive the growth of the overall market during the forecast period.

Segmental Outlook

The global wound dressing is segmented on the basis of type and application. Based on type, the market is bifurcated into advanced wound dressing and traditional wound dressing. Advanced wound dressing further covers the analysis of alginates dressing, collagen dressing, hydrocolloid dressing, hydrogels dressing, and other dressings. While traditional wound dressing cover gauze and lint, wadding, plasters, and other dressings. Based on application, the market is segmented into burn, ulcer, surgical wound, traumatic wound.

The surgical wound dressing has the largest market share attributed to the increasing number of surgeries across the globe. Further, traumatic wounds comprise skin tears, burns, lacerations and abrasions, bites, and penetrating trauma wounds. Several wound dressing is available for traumatic wound treatment such as alginates dressing, lint, gauze, and hydrocolloids dressing.

Regional Outlooks

On the basis of geography, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America is considered to be the dominating market. Major economies that contribute to the market include the US and Canada. The growing incidence of pressure ulcers (PU) owing to aging populations, increased per capita healthcare expenditure and the presence of major market players are driving the market in this region. According to the World Economic Forum in 2018, North America is one of the strong economies that comprise around 28% of the world economy which is one of the factors affecting the healthcare market.

Asia-Pacific is estimated to be a potential market for wound dressing due to the growing aging population coupled with the increasing prevalence of ulcers. In addition, the increasing number of human-burn cases and rising prevalence of diabetes across the major economies of the region further give a boost to the regional growth of the market. Japan is estimated to contribute significantly to the Asia-Pacific wound dressing market over the forecast period. One of the major factors that significantly drives the market is the surging pool of population with aged people across the country. This population pool is more likely to develop pressure ulcers than younger ones.

Market Players Outlook

Key players of the wound dressing market include 3M Co., Smith & Nephew PLC, Mölnlycke Health Care, Acelity L.P. Inc., ConvaTec, Inc., and so on. In order to survive in the market, these players adopt different marketing strategies such as a merger, acquisitions, product launch, and geographical expansion so on. With technological advancement, these companies are coming with innovation and techniques with improved products and services in order to provide the best possible treatment.