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 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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Based on end user, the wound dressing market is segmented into hospitals, ambulatory surgical centers, clinics, and others. The hospitals segment is likely to hold the largest share of the market in 2022. Hospitals are among the essential parts of the healthcare system of various countries. The wound dressing in the hospital setting is generally seen as required when treating acute and chronic wounds. The hospital provides extensive healthcare and medical services to patients suffering from various diseases and disorders.
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.
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.
Geographically, the wound dressing market has been segmented into North America (US, Canada, and Mexico), Europe (France, Germany, UK, Spain, Italy, and the Rest of Europe), APAC (China, India, Japan, Australia, South Korea, and Rest of APAC), the MEA (Saudi Arabia, UAE, South Africa, and Rest of MEA), and SCAM (Brazil, Argentina, and Rest of SCAM).
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