Advanced Wound Dressing Market Size & Share, by Product {Dressings (Foam, Hydrocolloid, Film, Alginate), Matrices, Negative Pressure Wound Therapy (NPWT), Debridement Devices, Grafts, Topical Agents}; Wound Type (Surgical, Traumatic, Ulcers, Burns); End-user (Hospital, Homecare) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4542
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Advanced Wound Dressing Market size is anticipated to surpass USD 15 Billion by the end of 2033, growing at a CAGR of 6% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of advanced wound dressing was USD 10 Billion. The rising prevalence of diabetes among people across the world is estimated to boost market growth during the forecast period. Injured diabetic people are more prone to serious injurious wounds such as diabetic ulcers that don’t heal up quickly. As a result, the rising number of diabetes cases are expected to increase the sales of advanced wound dressings in the upcoming period. As per the World Health Organization, nearly 3% of the increase in diabetes deaths that occurred between 2000-2019 are owing to chronic wounds.

Along with the aforementioned factors, the other factor that is contributing positively to market growth is the high prevalence of chronic diseases around the world. Chronic diseases such as cancer, strokes, heart disease, and others escalate the chances of developing a chronic wound that requires advanced wound care dressing, subsequently creating a positive outlook for market expansion. In addition, the rising number of road accidents, factory injuries, and other fatalities which causes serious trauma is expected to soar the adoption rate of advanced wound dressing in the upcoming years. Traumatic injuries are the major causes of acute wounds, which generate the need for advanced wound dressing. Another growth factor for expanding the advanced wound dressing market size is the increasing incidence of obese which is giving birth to complex wounds including infections, ulcerations, and other chronic wounds, which in turn, is expected to propel the usage of advanced wound dressings during the forecast period. In 2020, across the world, more than 36 million children under 5 years of age were overweight or obese as per estimations.


Advanced Wound Dressing Market
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Advanced Wound Dressing Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Incidence of Chronic and Surgical Wounds – Chronic wounds are increasing across the world owing to the prevalence of diabetes, cardiovascular diseases, obesity, and other chronic diseases. Additionally, the rising number of surgical procedures is accompanied by wound infections, excessive bleeding, and tissue damage. Such chronic wounds require continuous topical treatment as they fail to heal through the regular repair process. So, there is a need for advanced wound dressing products in this situation, which is estimated to rise the advanced wound dressing market growth during the forecast period.  It is estimated that over 2% of the population’s quality of life is affected by chronic wounds across the United States as of 2021.
  • Rising Healthcare Expenditure – The healthcare expenditure of the U.S. in 2019 was USD 3.8 trillion as per the Centers for Disease Control and Prevention.
  • Surging Number of Injury Related Visits in Hospitals- According to the data reported by the Centers for Disease Control and Prevention in 2020, there were nearly 38 million injury related visits at the United Nations.
  • Growing Healthcare Infrastructure – As per the estimations, in 2021 the healthcare infrastructure, such as ICU beds, increased to 1,14,000 by a 44-fold rise down from 2,300 in India.
  • Increasing Disposable Income – As the economies are growing, so is the disposable income of the people. As a result, individuals have more spending capacity to spend on their health and treatment by adopting modern medical products such as advanced wound dressings. Hence, the easy accessibility of advanced wound dressings among the high-income population is projected to expand the market size in the assessment period. The disposable personal income in the U.S. in 2021 was USD 16,000 increased from USD 15,000 in 2020.
  • Rising Geriatric Population – Older age people are more prone to chronic wounds owing to their weak bodies. Moreover, as the human body starts to age, its healing power decreases. As a result, the requirement for advanced wound dressing increases for the treatment of their wounds. The old age population of the world is estimated to double to reach 2.1 billion in 2050 from 1 billion in 2020.

Challenges

  • Surging Costs of Wound Dressing Products: The expensive nature of the products makes them less accessible to the population with middle income. Moreover, the high costs of advanced wound dressings are further restraining the advanced wound dressing market owing to the limited buying capacity of the population.
  • Lack of Awareness Among People
  • Sudden Rise of COVID-19

Advanced Wound Dressing Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~ 6%

Base Year Market Size (2022)

~ USD 10 Billion

Forecast Year Market Size (2033)

~ USD 15 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Advanced Wound Dressing Segmentation

Product {Dressings (Foam, Hydrocolloid, Film, Alginate), Matrices, Negative Pressure Wound Therapy (NPWT), Debridement Devices, Grafts, Topical Agents}

The global advanced wound dressing market is segmented and analyzed for demand and supply by product into dressings, matrices, negative pressure wound therapy [NPWT], debridement devices, grafts, and topical agents. Out of these, the dressings segment is anticipated to hold the largest market size by the end of 2033 on the back of the growing incidence of healthcare-associated infections, rising surgical wounds, and increasing traumatic cases. Trauma is a leading cause of death among people above the age of 45 years and it is estimated that nearly 1,48,000 homicides and suicides occur every year in the U.S. Moreover, the increasing patient awareness along with the rise in spending capacity is expected to increase the adoption rate of dressings for rapid healing and protecting the wound internally and externally. 

End-user (Hospital, Homecare)

The global advanced wound dressing market is also segmented and analyzed for demand and supply by end-user in hospital, and home care. Out of these three segments, the hospital segment is attributed to garner the highest market share by the end of the forecast period. The frequent hospital visits by the large patient pool suffering from chronic diseases and traumatic injuries for treatment are expected to fuel the segment’s growth.  Also, the easy availability of advanced wound dressings in hospital settings makes it easier for individuals to adopt them. In addition, the rising surgical procedures occurring in hospitals are also expected to surge the utilization rate of advanced wound dressing for treating surgical site infection wounds.

Our in-depth analysis of the global market includes the following segments:

             By Product

  • Dressings
  • Foam
  • Hydrocolloid
  • Film
  • Alginate
  • Matrices
  • Negative Pressure Wound Therapy [NPWT]
  • Debridement Devices
  • Grafts
  • Topical Agents

 

             By Wound Type

  • Surgical
  • Traumatic
  • Ulcers
  • Burns

               By End-User

  • Hospital
  • Homecare

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Advanced Wound Dressing Industry - Regional Synopsis

North American Market Forecast

The North America advanced wound dressing market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the increasing frequency of chronic wounds among several people, owing to episodes of infection in the human body. Furthermore, there has been a growing demand for diabetic foot ulcer treatment in countries such as the United States, that is further expected to boost the market’s growth in the region. In the U.S., hospital admissions rose by 3 times during foot ulcer episodes, and the death rate rose by 45%, as of 2022. Another growth factor for the market growth in the region is the rising cases of road accidents, sports injuries, and industrial fatalities that create the possibility of getting chronic wounds. In addition, the surge in healthcare expenditure, rising investments in the healthcare industry, and the presence of major key players are also anticipated to bring lucrative growth opportunities for market growth in the upcoming years. Along with that, North America is considered favorable spot for medical tourism owing to its strong healthcare infrastructure. All these factors couple up to spur market growth in the region.

Research Nester
Advanced Wound Dressing Market Size
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Companies Dominating the Advanced Wound Dressing Landscape

top-features-companies
    • ConvaTec Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Smith & Nephew PLC
    • MiMedx Group, Inc.
    • 3M
    • Coloplast Corp.
    • Tissue Regenix Ltd
    • Mölnlycke Health Care AB
    • Organogenesis Inc.
    • Integra LifeSciences Corporation
    • B.Braun Medical Inc. 

In the News

  • Organogenesis Inc. received the U.S. Food and Drug Administration clearance for PuraPly MZ. The powder form contains native cellulose-structured collagen that allowed surgeons to handle complex surgical wounds with ease. Also, improved the outcomes and patient compliance by providing full wound coverage.

  • Smith & Nephew PLC declared in an article that it would release a 3.5 billion hours’ time release model by 2030 to improve the approach between nurses and patients in chronic wound care. With the rise of COVID-19, there has been a shortage of nurses, so this model gives nurses time and allows patients to care for their wounds.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 4542
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing geriatric population and growing healthcare expenditure are the major factors driving the growth of the advanced wound dressing market.

The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023 – 2033.

Expensive nature of the products and lack of awareness among people are the challenges affecting the market growth.

The market in North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are ConvaTec Inc., Smith & Nephew PLC, MiMedx Group, Inc., 3M, Coloplast Corp., Tissue Regenix Ltd, Mölnlycke Health Care AB, Organogenesis Inc., Integra LifeSciences Corporation, and B.Braun Medical Inc.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by product, wound type, end-user, and by region.

The dressings segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Advanced Wound Dressing Market Report Scope
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