Moist Wound Dressing Actual Need Outlook, Supportive Judgment | 3M Co., Advanced Medical Solutions

The global moist wound dressing market held a market value of USD 4,353.8 million in 2021 and is estimated to reach USD 7,191.0 million by the year 2030. The market is projected to list a CAGR of 5.7% during the forecast period.

The moist wound dressing industry is projected to grow at a substantial rate owing to the increasing incidences of chronic and acute wounds, and the rising innovations in wound dressings area. For instance, in October 2019, 3M acquired Acelity Inc, a med-tech company focused on advanced wound care products marketed under its KCI brand. Such moves aid the market growth considerably.

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The increasing launches of novel therapies and its cost effectiveness is also boosting the market growth. The rising product launches is a lucrative opportunity for the market growth, and is anticipated to contribute significantly for the growth of the moist wound dressing marketspace during the forecast period. Moreover, the surging geriatric population in the developing and developed regions is contributing towards the market growth. However, the market is expected to be negatively influenced by the high availability of alternative moist wound dressings. Furthermore, the high risk and damage is also expected to hinder the market growth to a limited extent.

Growth Influencers:

Increasing Cases of Acute and Chronic Wounds
The rising cases of chronic wounds in the developing regions is one of the contributing factors for the growth of the moist wound dressing market. For instance, according to the American Burn Association, an approximate of 450,000 patients are hospitalized owing to burns every year and the risk of infection is higher in these patients. Similarly, according to a survey conducted by Centers for Disease Control and Prevention (CDC) in January 2020, surgical site infection (SSI) is one of the highest expensive healthcare-associated infection (HAI) type in the US. Therefore, such rising incidences boost the growth rate of the moist wound dressing market.

Increasing Geriatric Population

The rising elderly population around the world contributes towards the rise in the growth rate of the moist wound dressing market. For instance, according to the World Health Organization (WHO) estimates, the geriatric population worldwide (aged 60 years and above) is projected to reach around 2 billion by 2050. Thus, such measures contribute towards the growth rate.

Segments Overview:

The global moist wound dressing market is segmented into product, application, and end user.
By Product,
? Foam Dressings
? Gauze Dressings
? Non- reabsorbable Gauze Dressings
? Occlusive wound dressing
? Hydrophilic wound dressing
? Transparent Membrane Dressings
? Alginates Dressings
? Composites Dressings
? Hydrocolloids Dressings
? Hydrogel Dressings

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The foam dressings segment is estimated to cross revenue of USD 1,000 million in 2022. The gauze dressings segment held the largest market share with a value of USD 1,727.7 million in 2027. Moreover, the alginates dressings is projected to grow with the highest growth rate of 7.5% over the forecast period.
By Application,

? Diabetic Foot Ulcers
? Pressure Ulcers
? Burns and Scalds
? Chronic Leg Ulcers
? Surgical Wounds

The diabetic foot ulcers segment is anticipated to grow steadily at the rate of 7% over the anticipated period owing to the rising use of moist wound dressings for the management of diabetic foot ulcers. The pressure ulcers held the market volume crossing USD 500 million by 2023.

By End User,
? Hospitals
? Homecare
? Clinics
? Dispensaries

The hospitals segment is projected to hold an opportunity of around USD 1,010.2 million during the period 2022-2030. The homecare segment is estimated to grow fastest with a rate of 6.7% over the forecast period.

Regional Overview

By region, the global moist wound dressing market is divided into North America, Asia Pacific, Europe, Middle East & Africa, and South America.

The North America region held the largest market share of more than 35% owing to the increasing strategic as well as research developments by the companies operating in the marketspace. The Asia-Pacific region is projected to grow at the highest rate with a rate of 6.5%.
The European region is anticipated to grow at a steady rate owing to the rising awareness regarding newer launches. Moreover, the Middle Eastern and African region is also expected to grow at a substantial rate.

Competitive Landscape

The prominent players operating in the global moist wound dressing market include 3M Co., Advanced Medical Solutions, B. Braun, BSN Medical, Cardinal Health Inc., Hollister Incorporated, Integra LifeSciences Holdings Corp., Laboratories Urgo, Lohmannand Rauscher, Medline Industries. M?lnlycke Health Care. ConvaTec Group, Baxter International, Coloplast A/S, Hartmann Group, among others.

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The prominent 7 players in the market hold approximately 65% of the market share. These market players are investing in product launches, collaborations, mergers, expansions, acquisitions, in order to produce a competitive edge against their counterparts. For instance, in November 2020, Advanced Medical Solutions Group plc acquired Raleigh Adhesive Coatings Limited, an independent wound care and bio-diagnostics coatings business. This acquisition will improve the product portfolio and enhance the company's market position.

The global moist wound dressing market report provides insights on the below pointers:

? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global moist wound dressing market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? Pricing Analysis: Pricing analysis of various metals and other components used in the manufacturing of moist wound dressing products
? Manufacturing Cost Analysis: Cost-share of various components in moist wound dressing tools, cost analysis of solar street lights, Unit Cost Analysis of moist wound dressing products

The global moist wound dressing market report answers questions such as:

? What is the market size and forecast of the global moist wound dressing market?
? What are the inhibiting factors and impact of COVID-19 on the global moist wound dressing market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the global moist wound dressing market?
? What is the competitive strategic window for opportunities in the global moist wound dressing market?
? What are the technology trends and regulatory frameworks in the global moist wound dressing market?
? What is the market share of the leading players in the global moist wound dressing market?
? What modes and strategic moves are considered favorable for entering the global moist wound dressing market?

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