Wound Dressing Market to Reach US$ 16,248.76 Million by 2028

According to our new research study on "Wound Dressing Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type, Applications, and End User," the market is expected to grow from US$ 11,319.06 million in 2022 to US$ 16,248.76 million by 2028. It is estimated to grow at a CAGR of 6.2% during 2022-2028.

Factors driving the growth of the wound dressing market are the growing population and the increasing number of road accidents. Furthermore, a global increase in chronic diseases, such as diabetes, cancer, and other autoimmune disorders, is burdening the healthcare system worldwide. Chronic diseases directly impact the body's natural ability to heal. Moreover, the increased prevalence of cancer has fuelled the number of interventions performed. As a result, wound dressings are used more often to prevent postoperative wound infections. Most surgical wounds after cancer surgery are large and deep, resulting in exudate that requires frequent management. Advanced wound dressings, such as hydrogels, alginates, and foams, help with wound management and infection prevention. As a result, the rise in the incidence of chronic diseases is adding to the demand for wound care products and driving the market.

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Key Players : Convatec Inc., Coloplast Corp.; 3M; Medline Industries, Inc.; Medtronic; Integra LifeSciences Holdings Corporation; Smith+Nephew; Advancis Medical; Mölnlycke Health Care AB; and Axio Biosolutions Pvt Ltd are the leading companies operating in the wound dressing market.

The report segments the wound dressing market as follows
The wound dressing market is segmented on the basis of type, application, end user, and geography. Based on type, the market is bifurcated into the advanced and traditional wound dressing. By application, the wound dressing market is segmented into chronic wounds and acute wounds. By end user, the wound dressing market is segmented into hospitals, ambulatory surgical centers, clinics, and others.

Geographically, the wound dressing market has been segmented into North America (US, Canada, and Mexico), Europe (France, Germany, UK, Spain, Italy, and the Rest of Europe), APAC (China, India, Japan, Australia, South Korea, and Rest of APAC), the MEA (Saudi Arabia, UAE, South Africa, and Rest of MEA), and (Brazil, Argentina, and Rest ).

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Impact of COVID-19 Pandemic on Wound Dressing Market
The COVID-19 pandemic has significantly affected the global healthcare system. To combat the spread of SAR-CoV-2, governments imposed stringent policies in 2020 and 2021 to prevent and reduce infection and mortality rates. The healthcare industry witnessed a huge number of COVID-19 cases in 2020. The government ordered hospitals and clinics to give preference to COVID-19 cases and to postpone other non-essential medical procedures. The COVID-19 pandemic encouraged telemedicine in the healthcare system. Due to this, the wound dressing market witnessed a decline in the growth rate as it was categorized as non-essential. However, there was a demand for wound dressings products in home care settings.

Key players took an opportunity to introduce innovative wound care technologies to manage wounds. For instance, 3M in the UAE introduced negative pressure wound therapy and advanced wound care options to reduce infections and complications and help heal acute and chronic wounds, which also helped reduce the hospital stay. As the vaccination process rolled out, the market returned to the pre-pandemic levels as all healthcare settings now function regularly without any restrictions.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Food and Beverages, Consumer and Goods, Chemicals and Materials.

This release was published on openPR.