According to our new research study on “Wound Dressing Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Applications, and End User,” the market is expected to grow from US$ 11,319.06 million in 2022 to US$ 16,248.76 million by 2028. It is estimated to grow at a CAGR of 6.2% during 2022–2028.
The hospital provides extensive healthcare and medical services to patients suffering from various diseases and disorders. The hospital segment is expected to grow during the forecast period due to increasing cases of diabetic foot ulcers and venous leg ulcers. Due to the rising number of surgeries, surgical wound cases are increasing, further driving the wound dressing market growth. Further, it has been observed that there is an increasing number of multispecialty hospitals with specific departments dedicated to wound management, which contributes to the market growth
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Factors driving the growth of the wound dressing market are the growing population and the increasing number of road accidents. Furthermore, a global increase in chronic diseases, such as diabetes, cancer, and other autoimmune disorders, is burdening the healthcare system worldwide. Chronic diseases directly impact the body’s natural ability to heal. Moreover, the increased prevalence of cancer has fuelled the number of interventions performed.
As a result, wound dressings are used more often to prevent postoperative wound infections. Most surgical wounds after cancer surgery are large and deep, resulting in exudate that requires frequent management. Advanced wound dressings, such as hydrogels, alginates, and foams, help with wound management and infection prevention. As a result, the rise in the incidence of chronic diseases is adding to the demand for wound care products and driving the market.
3M is a global manufacturer, technology innovator and marketer of a wide variety of products and services. The company manages its operations in four operating business segments namely, Safety & Industrial, Transportation & Electronics, Health Care, and Consumer. The Safety & Industrial business segment include businesses such as industrial adhesives & tapes, personal safety, automotive aftermarket, electrical markets, etc. The company caters to a wide range of industries including automotive, commercial solutions, design & construction, electronics, energy, health care, manufacturing, safety, and transportation. The company has presence in Europe, Middle East and Africa, Americas, and Asia Pacific region. Globally, the company operates 97 manufacturing and converting facilities in 35 countries. Company provides wide range of products in advance wound dressings category.
Convatec Inc., Coloplast Corp.; 3M; Medline Industries, Inc.; Medtronic; Integra LifeSciences Holdings Corporation; Smith+Nephew; Advancis Medical; Mölnlycke Health Care AB; and Axio Biosolutions Pvt Ltd are the leading companies operating in the wound dressing market.
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