Growing Number of Surgeries Driving Wound Dressing Market | Top Key Players are Hollister Incorporated, DeRoyal Industries, Inc., ConvaTec, Johnson & Johnson, Smith & Nephew, MÖLNLYCKE HEALTH CARE AB

In 2017, the global wound dressing market attained a value of $11.4 billion and is expected to advance at a 7.2% CAGR during the forecast period (2018-2023). The market is growing due to the rising prevalence of chronic wounds, surging volume of surgeries, increasing geriatric population, rise in number of burn cases, increase in number of road accidents, and technological advancements in wound dressing products. Wound dressings are primarily utilized for accelerating the wound healing process by allowing gaseous exchange, absorbing exudates, preventing infectious agents, and providing thermal insulation.

Global Wound Dressing Market Key Players are:
1- Hollister Incorporated
2- DeRoyal Industries, Inc.
3- ConvaTec
4- Johnson & Johnson
5- Smith & Nephew
6- MÖLNLYCKE HEALTH CARE AB

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In terms of type, the wound dressing market is bifurcated into traditional and advanced. Between these two, the advanced wound dressing products dominated the market in 2017 and is predicted to account for the larger share of the market during the forecast period as well. Different types of advanced wound dressing products are superabsorbent, foams, wound contact layers, hydrocolloids, hydrofiber, films, collagen, alginates, and hydrogels. Among these, the foams category is projected to dominate the market during the forecast period. The superabsorbent category is expected to witness the fastest growth during the forecast period.

Another major driving factor of the wound dressing market is the surging number of burn cases across the world. Burns can be caused due to several factors such as friction, heat, chemicals, electricity, and radiation and lead to severe loss of blood vessels, tissue, and skin. As per the National Fire Protection Association, in 2016, about 662,500 fire injuries occurred in the U.S. Furthermore, according to the World Health Organization, approximately 180,000 deaths occur due to burns, primarily in low and middle-income countries. Different wound dressing products are utilized for treating burns.

A key trend in the wound dressing market is the rising adoption of smart bandages for wound management. The smart bandage is designed by researchers of Harvard Medical School, University of Nebraska-Lincoln, and Massachusetts Institute of Technology, and is capable of curing chronic wounds/injuries. These bandages are increasingly being adopted around the world due to their capabilities, such as releasing dose-dependent drugs and multiple drugs at a time, which helps speeding up the healing process. The bandages also stimulate faster healing of a bullet wound and prevent the onset of infection in remote environments.

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GLOBAL WOUND DRESSING MARKET SEGMENTATION
Market Segmentation by Type
o Advanced
o Foams
o Hydrocolloids
o Films
o Alginates
o Hydrogels
o Collagen
o Hydrofiber
o Wound contact layers
o Superabsorbent
o Traditional
o Bandages
o Gauzes
o Sponges
o Abdominal pads
o Others
Market Segmentation by Application
o Surgical Wounds
o Ulcers
o Diabetic foot ulcers
o Pressure ulcers
o Venous ulcers
o Burns
Market Segmentation by End User
o Inpatient Facilities
o Outpatient Facilities

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