Wound Dressing Market At A CAGR of 6.2% During 2022-2032

Market Definition

According to British Diabetic Association, diabetic individuals have a 30x greater risk of getting an amputation than the general population. Due to the high likelihood, many amputation surgeries are performed each year, necessitating effective wound dressing to stop infections after surgery.

Market Outlook

The Wound Dressings market was valued at USD 17.5 billion in 2022 and it is anticipated to grow further till USD 31.8 billion by 2032, at a CAGR of 6.2% during the forecast period.

According to British Diabetic Association, diabetic individuals have a 30x greater risk of getting an amputation than the general population. Due to the high likelihood, many amputation surgeries are performed each year, necessitating effective wound dressing to stop infections after surgery. Active, passive, and interactive dressings are the three categories into which wound dressings are divided. Products for wound dressings that are passive serve solely a protective purpose, whereas active wound dressings encourage healing by maintaining a moist wound environment. As a result, it is anticipated that demand for cutting-edge wound dressings made of hydrogels and foams will rise.

The market is anticipated to expand as a result of an increase in traumatic accidents around the world, an increase in the geriatric population, and the incidence rate of various wounds such as pressure ulcers and surgical site wounds. Globally, the number of chronic lesions such diabetic foot ulcers and venous leg ulcers is rising. For instance, the NCBI estimates that approximately 6.5 million Americans suffer from various types of chronic wounds.

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Research Objectives

Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
Identify factors influencing market growth and challenges, opportunities, drivers and restraints
Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives

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Global Wound Dressings Market Segmental Overview

The report analyses the global Wound Dressings market based on the type, application, end user, and region.

Based on the type, it is segmented into advanced wound dressing, traditional Wound Care products, negative pressure wound therapy, bioactive, and others. The advanced wound dressing segment is anticipated to dominate the market during the forecast period. The high growth of the segment is primarily attributed to the higher demand and adoption of foam dressings, antimicrobial dressings and alginate dressings. Moreover, rising cases of obesity and venous leg ulcers. For instance, as per a study by Sage Journals, the prevalence rate of obesity in India is 40.3%. Similarly, according to WHO, 25.1% of people in Germany are obese. Obese people are more susceptible to venous leg ulcers, thus, rising obesity among the population is expected to help the advanced dressing segment dominate over the forecast period. Based on the application, it is segmented into chronic wounds, and acute wounds. The chronic wounds segment is anticipated to dominate the market during the forecast period. The dominance is primarily attributed to the increasing patient population suffering from diabetic foot ulcers and pressure ulcers, coupled with the increasing expenditure on treating these conditions. Similarly,  increasing incidence of chronic diseases and the geriatric population globally. For instance, as per Ageing Asia, in Indonesia, the number of people aged above 60 was 27,524,000 in 2019, which is projected to reach 69,792,000 in 2050. Similarly, there has been increasing in people suffering from diabetes & diabetic foot ulcers. For instance, as per ScienceDirect, diabetic foot ulcers may affect 25% of the diabetic population & may lead to amputation in around 20% of the infected population. According to American Diabetes Association, in 2018, around 34.2 million people in the U.S. has diabetes, which according to BMC Population Health Metrics is anticipated to triple by 2060. Thus, boosting the segment growth.

Based on the end user, it is segmented into hospitals, clinics, home care settings, and others. The hospital segment is anticipated to dominate the market during the forecast period. The growth of the segment is primarily attributed to the increase in the number of multispecialty hospitals with departments dedicated to wound management, majorly in emerging countries. Furthermore, rising surgical procedures and an increasing number of hospitals. For instance, according to a study published by NCBI in 2020, globally, an estimated of 310 million surgical cases are recorded annually, out of which 40 million - 50 million are carried out in the U.S. alone. Moreover, there has been an increase in the number of hospitals and hospitalization worldwide. For instance, as per the Australian Institute of Health & Welfare, the number of hospitalization in Australia has increased. For instance, in 2019 - 2020, 11.1 million people in Australia were hospitalized. Thus, due to the aforementioned factors, the hospital segment is expected to dominate the end-use segment.

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Major Players in the Global Wound Dressings Market

The major players analyzed in the report are 3M; Coloplast Corp.; Medline Industries; Smith & Nephew; Medtronic; ConvaTec Group PLC; Derma Sciences (Integra LifeSciences); Ethicon (Johnson & Johnson); Baxter International; and Molnlycke Health Care AB among others.

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Research Scope

Scope - Highlights, Trends, Insights. Attractiveness, Forecast
Market Sizing - Product Type, End User, Offering Type, Technology, Region, Country, Others
Market Dynamics - Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
Business Framework - Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
Competitive Landscape - Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
Company Profiles - Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
Market Size in 2021 - US$ 17.5 Billion
Market Size in 2031 - US$ 31.8 Billion
CAGR % - 6.2%
Historic Period - 2016-2021
Forecast Period - 2023-2032
Base Year - 2022

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