Wound Dressings Market Outlook for 2028
- In 2020, the global wound dressings market was worth US$ 10.1 Bn
- It is expected to grow at a CAGR of 7.5% between 2021 and 2028
- Global wound dressings market value is estimated to reach US$ 17.7 billion by 2028
Wound Dressings Market Impacted by Global Coronavirus Pandemic
The coronavirus pandemic had a significant impact on the global economy and business. It also puts immense pressure on healthcare systems. The coronavirus pandemic has also adversely affected the global wound dressing market. The global wound dressing market has been affected by a lack of supply and disruptions in the supply chain. Global market growth is expected to be lucrative due to the nationwide lockdowns, denial of wound care services, postponement or cancellation of elective surgeries, increasing skin injuries and the coronavirus pandemic. The global market is growing due to technological advancements in wound care products and the rising prevalence of diabetes worldwide.
An increase in the prevalence of chronic and acute wounds
The global wound dressing market is expected to grow due to an increase in diabetic patients and diabetic foot ulcers. Global wound dressings are seeing a rise in chronic wounds like diabetic foot ulcers, pressure ulcers and venous ulcers due to various diseases.
Chronic wounds can lead to complications like infection, ulceration, and insufficient blood supply, which may increase the time it takes for wounds to heal. Advanced wound dressings will be in demand due to the rising prevalence of diabetes among patients. Chronic wounds can be caused by cellulitis, infective vein eczema and gangrene.
Increased R&D in Wound Dressings drives the market growth.
The forecast period will see a significant increase in investments by key players and government agencies in the development of wound dressings. The global wound dressings market is bolstered by the rapid expansion of the medicine and pharmaceutical industries, which are developing new medicines and products. Global market growth is fueled by the increasing research and development activities of private and public organizations to develop new therapies.
Market players are now focusing their efforts on launching a cell- and gene therapy platform within their pharmaceutical division. Advanced wound dressing products are in high demand. These include hydrogels, hydrogels and hydrocolloids, as well as Hydrofiber, alginates, hydrogels, and hydrogels. Traditional wound dressings such as gauze and cotton wool, plasters, bandages, and bandages can be used to protect the wound from infection. Traditional wound dressings can be used for clean, dry wounds with mild exudate levels or secondary dressings.
The Asia Pacific to Be the No. 1 Wound Dressing Market
The Asia Pacific will dominate the global market over the forecast period due to the high number of injuries and cost-effective products. Due to rapid improvement in healthcare infrastructure and rising aging populations, Japan, China and India are also key contributors to market growth.
Asia Pacific’s market growth is driven by the rising prevalence of diabetes and chronic wounds. The region’s growing wound dressing market is due to increased road accidents.
Wound Dressings Market: Overview
- Transparency Market Research’s most recent report on the global market for wound dressings in the historical period 2017-2019 and the forecast period 2021-2028 shows that the market will grow due to the rise of chronic wounds like pressure ulcers and diabetic foot ulcers.
Rising Prevalence of Acute and Chronic Wounds: Key Factor
- The global wound dressings market is forecast to grow due to the rising prevalence of chronic wounds like pressure ulcers and diabetic foot ulcers. Advanced wound dressings will also be in demand due to the rapidly rising prevalence of diabetes among patients.
- Chronic wounds can lead to infections such as cellulitis, infective vein eczema and gangrene. Chronic wounds can cause disability and worsen wound outcomes. This creates a vicious circle.
- The global wound dressings market is driven by the rising number of diabetic patients and the prevalence of foot ulcers in diabetics.
Key players in the Research & Development of Wound Dressings see increased investment.
- The forecast period will see a significant investment increase by private and public players in the development of wound dressings.
- Medicine is always evolving as new therapies and medicines become available. Many companies and public-private institutions are focused on developing new therapies.
- Bayer AG, a pharmaceutical company, launched a cell- and gene therapy platform in December 2020. The global market will continue to grow due to the expected expansion of the product pipeline.
The cost of care for chronic wounds has increased.
- Hospitalization is the main cost of wound care. Hospitalization is the main cost of wound care. Patients cannot leave their wounds unattended. Any delay in wound healing can have a major impact on the cost of hospital beds and other resources.
- Nursing time is another factor that outweighs materials costs. The cost of wound care is also rising due to antibiotic resistance, comorbidities like diabetes, obesity, venous hypertension, peripheral vascular disease, and diabetes mellitus. These factors will likely limit the growth of global wound dressings markets during the forecast period.
Wound Care Market Report Scope and Segmentation
|UNIT||Value (USD Million/Billion)|
|BY REGION||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
Wound Dressings Market: Competition Landscape
- This report profiles the major players in the global wound dressings market. It is based on many attributes, including company overview, financial overview and product portfolio.
- Due to the presence of many international and regional players, the global wound dressings market can be highly fragmented.
- These are the top players in the global market for wound dressings.
- Smith & Nephew plc
- Johnson & Johnson
- B. Braun Melsungen AG
- 3M Healthcare
- Coloplast A/S
- Derma Sciences, Inc.
- ConvaTec, Inc.
- Kinetic Concepts, Inc.
- Mölnlycke Healthcare AB
- PAUL HARTMANN AG
- Systagenix Wound Management Ltd is one of many.
Wound Dressings Market: Key Developments
- Global wound dressings market players are involved in regulatory approvals, the launch of technologically advanced products, acquisitions & collaborations with other companies, and product launches. These strategies will likely fuel growth in the global wound dressings industry. These are some of the expansion strategies that players in the global wound dressings industry have adopted:
- Integra Life Sciences Holding Corporation (a leading global medical technology company) announced that the AmnioExcel Plus Placental allograft membrane was now available. This is its latest wound care product to aid in tissue repair. AmnioExcel Plus is a next-generation, thicker, tri-layer, non-side precise allograft consisting of amnion-chorion-amnion layers that help in creating an environment to help close complex wounds.
- BandGrip and Medline signed an exclusive sales, marketing and distribution agreement in April 2020. This partnership will enhance post-operative patient experiences.
- The global wound dressings market report discusses individual strategies and profiles of companies making wound dressings. The report also includes a section on the competition landscape to provide readers with a visual overview of the competitive landscape and an analysis of the market share of key players in the global wound dressings industry.
Wound Dressings Market Snapshot
|Market Value for 2020||US$ 10.1 Bn|
|Market Forecast Value for 2028||US$ 17.7 Bn|
|CAGR stands for Growth Rate||7.5%|
|Quantitative Units||US$ Billion for Value|
|Market Analysis||This analysis includes both cross-segment analysis at the global and regional levels. Qualitative analysis also includes drivers, constraints, opportunities, key trends and a review of the parent industry.|
|Landscape of Competition|
|The Regions Covered|
Wound Dressings Market Scope of the Report
MWR’s global wound dressings market report examines past and current trends and opportunities to gain valuable insight into the market indicators during the forecast period of 2021-2028. The global wound dressings market revenue for 2017 to 2028 is provided, with 2020 being the base year and the forecast year 2028. The report provides information on the compound annual growth rate for the global wound dressings industry during the forecast period.
After extensive secondary and primary research, the report was prepared. Primary research included extensive research, which involved interviews with industry leaders as well as opinion-makers. A lot of secondary research was done by referring to key industry figures. We needed product literature, press releases, annual reports, and other relevant documents to understand the global wound dressings market.
Secondary research included data from websites, government agencies, websites, presentations of companies, sales data, trade associations, and statistical data. Analysts used a mix of top-down and bottom-up methods to study different phenomena in the global wound dressings industry.
The report also includes an executive summary and a snapshot of growth behaviour for each segment. The report also sheds light on changing market dynamics in global wound dressings markets. These indices are valuable tools for existing market players and entities looking to enter the global wound dressings industry.
This report examines the competitive landscape in the global wound dressings industry. The report profiles the key players in the global wound dressings industry. This report profiles key players in the global market for wound dressings. It includes a company overview, financial standings and recent developments.
Market Report on Wound dressings: Key Questions
- Is there any potential for product companies to grow in the global market for wound dressings?
- What will the Y-o Y growth rate of the global market for wound dressings between 2021-2028 be?
- How do changing technologies impact the global wound dressings industry?
- Will North America be the most lucrative market for wound dressings suppliers?
- What factors will be limiting the growth of global wound dressings markets during the forecast period
- Which companies are leaders in the global wound dressings industry?
MWR has developed a unique research method to analyze the market for wound dressings worldwide and draw conclusions about its prospects. The research methodology combines primary and secondary research to ensure that analysts can draw reliable and accurate conclusions.
Analysts refer to secondary methods while producing the global wound dressings industry report. These include statistics from company annuals, SEC filings and company websites. Investor presentations, regulatory databases, government publications, white papers, and regulatory databases. Analysts also interviewed CEOs, VPs, market intelligence managers and senior managers involved in the MWRs study of the global wound dressings market.
Interviews with the market leaders in wound dressings have revealed exclusive information from both primary and secondary sources. This report was able to answer specific questions and details about the global wound dressings industry with precision, thanks to its access to a large internal repository and proprietary databases from other sources. This study uses both the top-down approach for assessing each segment’s revenue and the bottom-up approach to validate them. This helped MWR estimate the prospects for the global wound dressings industry more accurately and reliably.
Segmentation Wound Dressings Market