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Moist Wound Dressings Market Report 2024 - Wound Dressings Market Growth, Share, And Demand
Moist Wound Dressings Market
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According to The Business Research Company's, The moist wound dressings market size has grown strongly in recent years. It will grow from $4.32 billion in 2023 to $4.6 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to market competition and innovation, regulatory support and approvals, increased awareness and education, reduced healing time, wound care standards and guidelines.
The moist wound dressings market size is expected to see strong growth in the next few years. It will grow to $5.94 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to telemedicine and remote wound management, focus on patient-centric care, rising demand for advanced wound care, prevalence of chronic diseases, growing aging population. Major trends in the forecast period include wound moisture management, telemedicine integration, customization and tailored solutions, smart dressings with monitoring capabilities, antimicrobial and antiseptic dressings.
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Market Drivers and Trends:
The increase in the geriatric population is expected to boost the growth of the moist wound dressings market going forward. The geriatric population refers to the percentage of people 65 and older to those between the ages of 18 and 64 who are employed. The aging process can impede natural wound healing, but moist wound dressings play a crucial role in facilitating optimal healing conditions by regulating moisture levels and promoting tissue repair, especially advantageous for the elderly. For instance, in October 2022, according to a report published by the World Health Organization (WHO), a Switzerland-based agency responsible for international public health, one in six people is expected to be 60 or older by the year 2030, in the entire world. By 2050, there will be 2.1 billion people worldwide who are 60 years old or older. Therefore, the increase in the geriatric population is driving the growth of the moist wound dressings market.
Technological Advancement is a key trend gaining popularity in the moist wound dressings market. Major companies operating in the moist wound dressings market are focused on developing new technological solutions to strengthen their position. For instance, in October 2022, Healthium Medtech, an India-based medical device company operating in surgical and wound care, introduced TheruptorTM Novo to manage chronic wounds such as diabetic foot ulcers and leg ulcers. TheruptorTM Novo is an anti-microbial and non-toxic wound dressing with patented technology that employs an attract, bind, and rupture formula to destroy bacteria physically. This prevents the growth of resistant microorganisms and promotes the healing process. The dressing's positively charged cationic sites, which are present throughout, draw in negatively charged microorganisms and successfully tear their cell walls, providing anti-microbial protection. The anti-microbial technology is persistent and effective for up to 7 days because it doesn't interfere with healing and doesn't penetrate the wound bed.
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Major Key Players of the Market:
3M Company, Smith & Nephew PLC, Derma Sciences Inc., ConvaTec Group PLC, Coloplast A/S, Medline Industries Inc., Cardinal Health Inc., B. Braun Medical Inc., Scapa Group Ltd., Mölnlycke Health Care AB, Integra LifeSciences Holdings Corporation, Advin Health Care, Advanced Medical Solutions Group plc, URGO Group, Acelity L.P. Inc., Winner Medical Co. Ltd., Fleming Medical Limited, Essity AB, AMERX Health Care Corporation, Johnson & Johnson, McKesson Medical-Surgical Inc., Hollister Incorporated, Lohmann & Rauscher International GmbH & Co. KG, Medtronic plc., Paul Hartmann AG, Baxter International Inc., Beiersdorf AG, Kinetic Concepts Inc., Organogenesis Inc., Systagenix Wound Management Ltd.
Moist Wound Dressings Market 2024 Key Insights:
• The moist wound dressings market size is expected to see strong growth in the next few years. It will grow to $5.94 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
• Rising Diabetes Cases Fueling Growth In The Moist Wound Dressings Market
• Innovative Technological Solutions Reshape The Moist Wound Dressings Market Landscape
• North America was the largest region in the moist wound dressings market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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