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.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~ 6% |
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Base Year Market Size (2022) |
~ USD 10 Billion |
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Forecast Year Market Size (2033) |
~ USD 15 Billion |
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Regional Scope |
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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:
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By Product |
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By Wound Type |
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By End-User |
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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.
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
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