Collagen Dressings Market Analysis by Dressing Type (Antimicrobial, Alginate, Hydrogel, Native, and Others); by Source (Bovine, Porcine, and Others); by Application (Acute Wounds, and Chronic Wounds); and by End-user (Hospitals, Clinics, Ambulatory Surgical Centers, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

Global Collagen Dressings Market Size, Forecast, and Trend Highlights Over 2022 – 2031

The global collagen dressings market is estimated to garner revenue of USD 2 Billion by the end of 2031 by growing at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. Further, the market generated revenue of USD 1 Billion in the year 2021. The growth of the market can be primarily attributed to the growing prevalence of acute and chronic wounds among people. It was observed that chronic wounds of mixed etiologies were estimated to affect 2.20 people per 1000, while chronic leg ulcers affected 1.50 people. A 2018 survey found that 8 million people suffer from wounds that are infectious. Moreover, increasing incidences of surgical wounds, diabetic foot ulcers, and others resulting from diabetes and obesity worldwide are requiring advanced wound dressing products which is expected to drive global collagen dressings market during the forecast period. 

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New wound care alternatives are gradually replacing traditional dressing techniques. A collagen dressing is an innovative wound care product that enhances wound healing and improves the skin and connective tissues of the wound area. Using these dressings, human collagen is built up in the wound area. Moreover, a number of manufacturers are focusing on wound care management techniques, R&D initiatives along with developing specialized collagen dressings for treating skin conditions. For instance, in June 2022, Smith&Nephew announced the opening of a new R&D manufacturing facility for advanced wound management with an investment of over USD 100 million. Furthermore, global collagen dressings market trends such as demand for innovative dressings & animal-based wound care dressings along with advances in technology, research and development have consistently contributed to the development of new healthcare treatments and therapies.

Global Collagen Dressings Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Number Of Road Accidents And Serious Injuries – According to the World Health Organization, in road traffic accidents, nearly 1.3 million people die each year. A staggering 20 to 50 million people suffer wound injuries, and many of them result in disabilities. There is a high rate of road traffic injuries throughout the world. Open wounds are a common result of road accidents, which create tears in the skin. About 85% of all injuries are caused by distortions, fractures, open wounds, concussions, and contusions. Therefore, the rising cases of road accidents and serious injuries are expected to enlarge the global collagen dressings market size during the forecast period.
• Rising Exports of Sterile Collagen Sheets Worldwide- According to the statistics by the International Trade Center (Trademap), the global value of exports of sterile surgical dressings in the year 2021 was recorded to be USD 5,007,963 thousand, which was an increase from USD 4,502,707 thousand in the previous year.
• Increasing Global Healthcare Expenditure - According to World Bank data, current healthcare expenditures rose from 9.7% of GDP in 2018 to 9.83% in 2019. This data includes the consumption of healthcare goods and services each year. 
• Growing Elderly Population Across the Globe - Chronic wounds are more common among people over 65 years of age. This factor is expected to propel the demand for collagen dressings during the forecast period. The World Bank has recently released data showing that at the end of 2021 there were 747,238,580 geriatric people worldwide.
• Surge in Number of Surgical Procedures Worldwide- It was observed that the number of major surgeries performed each year worldwide has grown to 300 million. Approximately 42 to 53 million surgeries are performed in the United States and 25 million in Europe every year.

Challenges

• Collagen Dressing Storage Complexities 
• High Production Cost Associated With The Product
• Market Availability Of Low-Price Wound Dressings

The global collagen dressings market is segmented and analyzed for demand and supply by source type into bovine, porcine and others. Among these segments, the bovine segment is anticipated to capture the largest market size in the global collagen dressings market owing to the rising adoption of bovine-based collagen dressings for diabetic neuropathic foot ulcer treatment. Diabetic foot ulcers (DFUs) are a common complication of diabetes. In a study of 2018, it was found that 18-26% of people with diabetes can develop foot ulcers at some point in their lives. Diabetic patients are estimated to have a 2% chance of developing diabetic foot ulcers each year. Various studies report a prevalence of 1.3–12% for diabetic foot ulcers. Moreover, in order to minimize the negative impacts of wounds such as infection and pain, bovine based collagen biomaterials are becoming more popular. This factor is expected to drive segment growth during the forecast period. 

Major Macro-Economic Indicators Impacting the Market Growth

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Collagen Dressings Market Regional Synopsis

Regionally, the global collagen dressings market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, Regionally, the global collagen dressings market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2031.Growing awareness of advanced wound care management products, and increased development of advanced wound care dressings in research labs and pharmaceutical companies are all contributing to advancements in wound care dressings.  As well as technological advancements, the demand for wound care products for chronic wound treatment, such as antibacterial collagen dressings, is expected to drive growth in the region during the forecast period. Moreover, the expansion of the healthcare sector and medicare spending in the region is expected to drive collagen dressings market growth during the forecast period. According to Centers for Medicare & Medicaid Services, spending on Medicare reached USD 829.5 billion in 2020, accounting for 20% of overall health care spending. Spending on medicare increased by 3.5% in 2020, compared with 6.9% in 2019. 

The global collagen dressings market is further classified on the basis of region as follows:

• North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
• Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

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

Top Featured Companies Dominating the Global Collagen Dressings Market

• 3M
  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis

• Smith & Nephew
• Integra Lifesciences
• Coloplast Corp
• Organogenesis, Inc.
• Hollister Incorporated
• Essity Aktiebolag (publ)
• Angelini Pharma S.p.a.
• Medline Industries, Inc.
• DermaRite Industries, LLC