Wound Dressing Market Size Worth $16.24 Billion by 2028 at 6.2% CAGR Lead by Advanced Wound Dressings, New Research Study by The Insight Partners

NEW YORK, June 23, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Wound Dressing Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Types (Traditional Wound Dressings and Advanced Wound Dressings), Applications (Chronic Wounds and Acute Wounds), End User (Hospitals & Clinics, Ambulatory Surgical Centers, and Others), and Geography", the global wound dressing market size is expected to grow from $11.31 billion in 2022 to $16.24 billion by 2028; it is expected to register a CAGR of 6.2% from 2022 to 2028.

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Wound Dressing Market Report Scope & Strategic Insights:

Wound Dressing Market: Competitive Landscape and Key Developments

Companies operating in the wound dressing market implement various organic developments that lead to dynamic improvements in the market. Various organic growth strategies such as product launch and product development propel the market growth. Several companies are implementing numerous inorganic strategies, such as partnerships and mergers and acquisitions.

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In June 2022, Smith+Nephew announced that it invested more than US$ 100 million to build a new R&D and manufacturing facility for its Advanced Wound Management franchise on the outskirts of Hull, UK. A grant from UK Government also supported the development. The new facility is expected to invest more than US$10 billion in sales in its first ten years of operation. 

In February 2021, Axio Biosolutions announced that its next-generation advanced wound-care product line, MaxioCel, has acquired CE Certification from Europe. The regulatory approval paves the way for Axio to enter the $14 billion worldwide advanced wound-care industry.

In January 2022, Convatec announced that it entered into a definitive agreement to accumulate Triad Life Sciences Inc. The acquisition strengthens Convatec's Advanced Wound Care position in the US (Focus) and secures access to a complementary and innovative technology platform (Innovation) that enhances advanced wound management and patient outcomes.

Wound Dressing Market: Key Insights

The wound dressing market growth propelled by the increasing number of traumatic injuries and the rising prevalence of chronic diseases and related wounds. However, unfavorable reimbursement scenarios hamper the market growth. The advanced wound dressing segment is anticipated to hold a larger share in 2022 and is expected to continue to do so during the forecast period.

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Wound Dressing Market: Future Trends

Technological advancements in further miniaturization of micro-surgical robots are likely to reshape the wound dressing market during the forecast period. The new paradigm of value-based care is already changing how care is delivered. The increasing adoption of advanced wound dressings results in better care for individuals. Many wound dressings are available with a wide range of physical performance, characteristics, and costs.

The advantages associated with advanced wound care products lead to the growing trend of these products. For instance, antimicrobial dressings are currently being used as an alternative to traditional dressings and systemic antibiotics. Antimicrobial dressings are loaded with antimicrobial agents, reducing wound bacterial colonization and infection and improving healing. Due to the high functional efficiency in post-surgical care and burns, antimicrobial wound dressings are rapidly replacing conventional wound dressings. Such robust developments are likely to reshape the wound dressing market during the forecast period.

In North America, the US wound dressing market dynamics is highly influential for other countries and depends on factors such as the increasing incidence of chronic wounds, the presence of significant market players, and others. Chronic wounds affect the quality of life as they may develop an infection leading to sepsis and amputation; thus, they impact the health care system due to their increasing incidence. Among all causes of chronic wounds, diabetes is one of the primary causes of chronic wounds. The prevalence and incidence of diabetes are directly proportional to chronic wound prevalence and incidence. Chronic wounds associated with diabetes include foot, venous, and pressure ulcers.

According to "The International Journal of Tissue Repair and Regeneration," active or healed venous ulcers occur in 1% of the US population. According to the National Diabetes Statistics Report 2020, a publication of the Centers for Disease Control and Prevention (CDC), 34.2 million people of all ages in the US have diabetes. Of the 34.2 million diabetics, about 1 million diabetics develop a foot ulcer each year, and 6 to 7 million diabetes patients develop ulcers in their lifetime. Thus, the rising incidence of diabetes and chronic wounds leads to an increase in the usage and demand of wound dressing and contributes to wound dressing market growth during the forecast period. These factors are likely to boost the growth of the wound dressing market in the US.

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The wound dressing market players are adopting various organic and inorganic strategies for market development. For instance, in June 2022, Medline announced the launch of its Optifoam Gentle EX Foam Dressing. The product is designed to help displace pressure when used with pressure injury prevention protocol. The product features five unique layers to help absorb shear force and friction and manage moisture.

Wound Dressing Market: Segmental Overview

Based on type, the global wound dressing market is bifurcated into the advanced and traditional wound dressing. The advanced wound dressing segment held a larger market share in 2022; moreover, the same is expected to grow over the forecasted period. Advanced wound dressings promote healing by preventing the wound from dehydration and avoiding re-injury of new granulation tissue due to scarring.

Based on application, the global wound dressing market is bifurcated into chronic and acute wounds. The chronic wounds segment held the largest share of the market in 2022; moreover, the same is expected to grow over the forecasted period. The prevalence of chronic wounds is increasing due to the rising geriatric population and increasing incidence of obesity, diabetes, and cardiovascular diseases, which is expected to promote the growth of the wound dressing market during the forecast period.

Based on end user, the wound dressing market is segmented into hospitals, ambulatory surgical centers, clinics, and others. In 2022, the hospitals segment is estimated to hold the largest share of the market. Wound dressing is required in the hospital when treating acute and chronic wounds. The hospital provides extensive healthcare and medical services to patients suffering from various diseases and disorders. The hospital segment is expected to grow during the forecast period due to increasing cases of diabetic foot ulcers and venous leg ulcers.

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Due to the rising number of surgeries, surgical wound cases are increasing, further driving the wound dressing market growth. Further, it has been observed that there is an increasing number of multispecialty hospitals with specific departments dedicated to wound management, which contributes to the market growth. High-quality care, cost-effective treatments, and expanding access are likely to favor the market growth of this segment.

Browse Adjoining Reports:

Silver Wound Dressings Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Type (Hydrofibre Silver Dressings, Silver Alginate Dressings, Nano Crystalline Silver Dressings, Silver Nitrate Dressings, Silver Plated Nylon Fiber Dressings, Other Silver Wound Dressings); Treatment (Ulcers, Skin Grafts, Surgical Wounds, Burns, Lacerations and Cuts, Others); End user (Hospitals, Specialty Clinics, Ambulatory Surgical Centers), and Geography

Silver Dressings And Bandages Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type ( Silver Foam Dressings and Bandages, Silver Alginate Wound Dressings and Bandages, Silver Barrier Dressings and Bandages ); Application ( Surgical Wounds, Burns Wounds, Chronic Wounds, Others )

Advanced Wound Dressing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Foam Dressings, Film Dressings); End User (Hospitals, Specialty Clinics, Home Healthcare) and Geography

Hydrocolloids Wound Dressings Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Acute wounds, Chronic wounds, Pressure sores.); End-User (Hospitals, ASCs, Home care)

Interactive Wound Dressing Market Forecast to 2028 - COVID-19 Impact and Global Analysis ByType (Semi-permeable Foams Dressing, Semi-permeable Films Dressing, Hydrogel); Application (Chronic Wounds, Acute Wounds); End User (Hospitals and Clinics, Ambulatory Surgical Centers, Homecare Settings), and Geography

Wound Dressings And Products Market Forecast to 2028 - COVID-19 Impact and Global Analysis By : Product (Silver Wound Dressing, Iodine Antimicrobial Wound Dressing, Honey Antimicrobial Wound Dressing, Others); Application (Surgical Wounds, Burns Wounds, Chronic Wounds, Others), Impact of covid-19 pandemic.

Collagen Wound Dressings Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Collagen Source from Bovine, Collagen Source from Porcine, Collagen Source from Avian, Others) Application, (Surgical Wounds, Diabetic Foot Ulcer, Venous Ulcers, Pressure Ulcers, Burns, Others), and Geography

Simple Island Dressings Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Traditional Wound Dressings, Advanced Wound Dressings); Application (Wet Wound, Dry Wound); End User ( Hospitals and Clinics, Ambulatory Surgical Centers, Others), and Geography

Advanced Wound Care Market to 2025 - Global Analysis and Forecasts By Product (Dressings, Devices, and Bioactives), Wound Type (Surgical, Trauma, Burns, Ulcers, Diabetic Foot, and others), and End User (Hospitals & Clinics, Ambulatory Surgical Centers, Wound Care Centers, and Others)

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