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Advanced Wound Dressing Market to Expand at 2.9% CAGR, Reaching USD 8.74 Billion by 2034 | Fact.MR
Advanced Wound Dressing Market
Smoking, alcohol consumption, the adoption of unhealthy and sedentary lifestyles, and antibiotic resistance are all major contributors to the rise in noncommunicable disease cases. Furthermore, rising rates of chronic diseases such as cancer, diabetes, and a few autoimmune diseases are expected to boost demand for sophisticated wound dressing solutions for a variety of surgical operations.
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Key Segments of Advanced Computed Tomography (CT) Scanner Industry Research Report
Wound care treatments are used to prevent infections at surgical sites. Several surgical wounds are fairly deep and extensive. They produce exudates, which must be managed on a regular basis to reduce the risk of infection. Some prominent wound dressing treatments used to treat bigger wounds include foam, alginate, and hydrogel. Growing emphasis on quality treatment, combined with the requirement for effective surgical services in the healthcare sector, is driving demand for sophisticated wound dressing products.
Key Takeaway from Market Study
The global advanced wound dressing market is expected to reach $8.74 billion by the end of 2034.
Demand for sophisticated wound dressings is expected to rise at a 2.9% CAGR from 2024 to 2034.
North America is expected to hold 41.1% of the global market by 2034.
Advanced wound dressing product sales in Canada are expected to reach US$ 162 million by 2024.
Demand for improved wound dressing solutions in Brazil is expected to reach US$ 156.14 million by 2034.
Foam dressings are expected to account for 26.6% of global market value in 2034.
"The increasing number of surgical procedures and cases of chronic wounds globally are expected to increase demand for sophisticated wound dressing products," says a Fact.MR analyst.
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Prevalence of Diabetes-associated Wounds Rising in United States
Sales of advanced wound dressing solutions in the United States are expected to reach $2.50 billion by 2024. The rising prevalence of diabetes, combined with an increase in the frequency of injuries and wounds, is expected to drive demand for sophisticated wound dressing technology to avoid infections. Furthermore, supportive government initiatives and advantageous reimbursement regulations for these healthcare goods are expected to provide profitable prospects for companies in the US.
Key Market Players
Coloplast A/S, Ethicon Inc., BSN Medical GmbH, 3M Co., B. Braun Melsungen AG, Smith & Nephew PLC, Medline Industries Inc., ConvaTec Group PLC, and Molnylcke Health Care are key suppliers of advanced wound dressing products.
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Germany accounted for 25% of the European region's market revenue in 2023.
The Advanced Wound Care Sector Group, a member of the Voice of the Medical Technology Industry in Europe, works with the European Wound Management Association. Their collaborative efforts aim to improve patient safety and wound treatment quality by raising awareness among medical professionals and patients about the effects of wounds. Such collaborations are intended to help promote the adoption of sophisticated wound dressing solutions in Germany.
The United States is expected to dominate the regional market, accounting for 91.6% of the advanced wound dressing market in 2024. The increased demand in the United States is being driven by an aging population that requires lengthier hospitalization for better recovery, as well as an increase in accident cases, which increases the need for effective advanced wound dressing products.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the advanced wound dressing market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product (hydrogel dressings, semi-permeable film dressings, alginate dressings, foam dressings, hydrocolloid dressings, collagen dressings, contact layers, super absorbent dressings, hydrofibers), distribution channel (institutional sales, retail sales), and indication (chronic ulcers, non-healing surgical wounds), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
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