Advanced Wound Dressing Industry Overview
The global advanced wound dressing market size is expected to reach USD 9.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.5% from 2021 to 2028. An increasing number of accidents, the impact of COVID-19, and technological advancements are the key driving factors for the market. The increasing incidence of accidents such as road accidents, burns, and trauma events across the globe is anticipated to drive the market. For instance, as per the WHO (2018), around 1,000,000 people are severely or moderately burnt in India per year. In addition, as per NCBI, in 2017, countries such as Bulgaria, Finland, the Netherlands, China, Australia, and the U.K. reported a rise in the incidence of burn injuries.
Furthermore, as per the American Association for the Surgery of Trauma, in 2017, around 1.2 million people died globally, accounting for the deaths of around 3,242 people per day in road accidents every year. Road accidents mostly occur in middle- or low-income countries. The advanced wound dressing is majorly used for the faster healing of all kinds of burns injuries. Moreover, bandages and gauzes are also used for the treatment of minor injuries. Thus, the rising number of accidents is expected to boost the demand for advanced wound dressing, which is expected to lead to considerable market growth over the forecast period.
Advanced Wound Dressing Market Segmentation
Grand View Research has segmented the advanced wound dressing market on the basis of product, application, end-use, and region:
Based on the Products Insights, the market is segmented into Foam, Hydrocolloid, Film, Alginate, Hydrogel, Collagen, and Other Advanced Dressings
- The foam dressings segment dominated the market for advanced wound dressing and accounted for the largest revenue share of 23.6% in 2020.
- The hydrocolloid dressings segment is anticipated to witness the fastest growth rate over the forecast period. Hydrocolloid dressings are made up of gel-forming agents such as Carboxy Methylcellulose (CMC) and gelatin.
Based on the Application Insights, the market is segmented into Chronic Wounds and Acute Wounds
- The acute wounds segment dominated the market for advanced wound dressing and accounted for the largest share of 60.1% in 2020.
- The chronic wounds segment is anticipated to witness a considerable growth rate over the forecast period. The increasing cases of chronic diseases, especially diabetes, and the rising geriatric population in the country are the major driving factors for the segment growth.
Based on the End-use Insights, the market is segmented into Hospitals, Specialty Clinics, Home Healthcare, and Others
- The hospitals' segment dominated the market for advanced wound dressing and accounted for the largest revenue share of 44.9% in 2020. The increasing cases of diabetic foot ulcers and venous leg ulcers are the major driving factors for the growth of the segment.
- Home Healthcare is expected to witness the fastest growth over the forecast period.
Advanced Wound Dressing Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Key players are involved in adopting strategies such as mergers and acquisitions, partnerships, and launching new products to strengthen their foothold in the market for advanced wound dressing.
Some prominent players in the global Advanced Wound Dressing market include:
- Smith & Nephew PLC
- Mölnlycke Health Care AB
- Convatec Group
- Baxter
- Coloplast Corp
- Medtronic
- 3M
- Derma Sciences Inc.
- Medline Industries, Inc.
Order a free sample PDF of the Advanced Wound Dressing Market Intelligence Study, published by Grand View Research.
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