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HEALTHCARE & PHARMACEUTICAL

Advanced Wound Dressing Market Analysis by Product {Dressings (Foam, Hydrocolloid, Film, Alginate), Matrices, Negative Pressure Wound Therapy (NPWT), Debridement Devices, Grafts, and Topical Agents}; by Wound Type (Surgical, Traumatic, Ulcers, and Burns); and by End-User (Hospital, and Homecare) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Aug 15, 2022: 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 handle the complex surgical wounds with ease. Also, improved the outcomes and patient compliance by providing full wound coverage.

  • Jun 14, 2022: 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 own wounds.

Global Advanced Wound Dressing Market Size, Forecast, and Trend Highlights Over Advanced Wound Dressing

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 Middle East and Africa)

 

The global advanced wound dressing market is estimated to garner a revenue of ~USD 15 Billion by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 10 Billion in the year 2022. 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 that don’t heal up quickly. As a result, the rising diabetes cases is 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 occurred between 2000-2019 are due to chronic wounds.

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The increasing incidence of obesity and rising surgical procedures are expected to propel the growth of the advanced wound dressings market share 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.

Global Advanced Wound Dressing Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Incidence of Chronic and Surgical Wounds – Chronic wounds are becoming a social, clinical, and economic challenge. Chronic wounds are increasing owing to the prevalence of diabetes, vascular diseases, and obesity. Chronic wound requires continuous topical treatment as they fail to heal through the regular repair process. So, there is a need for advanced wound care products in this situation which is estimated to rise the 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.

  • 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.

  • Increasing Disposable Income – The disposable personal income in the U.S in 2021 was USD 16,000 increased from USD 15,000 in 2020.

  • Rising Geriatric Population – The old age population of the world is estimated to double to reach 2.1 billion in 2050 from 1 billion in 2020.

Challenges

  • Expensive nature of the products makes it less accessible to the population with middle income. Also, the high costs of the advanced wound dressings are further restraining the market owing to the limited buying capacity of the population.
  • Lack of Awareness Among People
  • Sudden Rise of COVID-19

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 increasing patient awareness and 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.

Global Advanced Wound Dressing Market Regional Synopsis

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 rising number of acquisitions, increasing awareness of patients, penetration of advanced wound care products, and growing incidence of hospital admissions for chronic wounds such as diabetic foot, venous leg and pressure ulcers in the region is expected to bolster the market 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.

Market Segmentation

Our in-depth analysis of the global advanced wound dressing market includes the following segme

 

           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

Top Featured Companies Dominating the Global Advanced Wound Dressing Market

  • 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.

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