Wound Dressings Market Value to Exceed US$ 17.7 Billion by 2028, Transparency Market Research, Inc.

Posted on 2024-03-21 by Transparency Market Research in Healthcare // 0 Comments

Wilmington, Delaware, United States, 2024-Mar-21 — /EPR Network/ — Transparency Market Research Inc. –

Transparency Market Research’s most recent report on Wound Dressings highlights the global market’s dynamics, covering the historical period from 2017 to 2019 and projecting trends for the forecast period spanning 2021 to 2028. The report underscores that the increasing prevalence of chronic wounds, including diabetic foot ulcers, pressure ulcers, venous leg ulcers, and other ailments stemming from diverse diseases, is expected to drive the expansion of the global market.

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The market for wound dressings was valued at US$ 10.1 billion in 2020, and it is anticipated to grow at a compound annual growth rate (CAGR) of 7.5% from 2021 to 2028. By the end of 2028, it is projected to reach a market value of US$ 17.7 billion.

Analysts observe that the global wound dressings market is being primarily driven by an escalation in the incidence of chronic and acute wounds. This rise is attributed to factors such as increasing investments in healthcare infrastructure, the rapid expansion of the geriatric population, and the prevalence of conditions such as skin ulcers, tissue necrosis, and diabetic foot ulcers. These factors collectively contribute to the upward trajectory of the global wound dressing market.

Rise in Prevalence of Chronic and Acute Wounds: Key Driver

The global wound dressings market is set to experience significant growth in the forecast period, driven by the escalating prevalence of chronic wounds like diabetic foot ulcers, pressure ulcers, and venous leg ulcers. These wounds, often stemming from various diseases, contribute to a rise in demand for advanced wound dressings, especially with the increasing incidence of diabetes worldwide. Complications such as cellulitis, infective venous eczema, gangrene, hemorrhage, and lower-extremity amputations are common with chronic wounds, leading to disability and worsening wound outcomes, thereby creating a cycle of deterioration. The surge in diabetic patients globally and the growing prevalence of diabetic foot ulcers stand out as primary factors propelling the growth of the global wound dressings market.

Competition Landscape:

Smith & Nephew plc,Johnson & Johnson,B. Braun Melsungen AG,3M Healthcare,Coloplast A/S,Derma Sciences, Inc.,ConvaTec, Inc.,Kinetic Concepts, Inc.,Mölnlycke Health Care AB,PAUL HARTMANN AG,Systagenix Wound Management Ltd, among others

Market Segmentation:

By Type
- Traditional Wound Dressings
  - Basic Wound Care
  - Wound Closure Products
  - Anti-infective Dressings
- Advanced Wound Dressings
  - Foams
  - Films
  - Hydrocolloids
  - Hydrogels
  - Hydrofiber
  - Alginates
  - Collagen

Increase in Cost of Care of Chronic Wounds

The main expense in wound care is hospitalization, as patients must remain until their wounds fully heal, leading to increased bed days and resource utilization. Nursing time is a significant cost factor, surpassing the expense of materials. Additionally, the growing prevalence of antibiotic resistance and comorbidities like diabetes and obesity escalate wound care costs. These factors are expected to impede the growth of the global wound dressings market in the forecast period.

Key Developments:

In February 2020, Integra LifeSciences Holding Corporation, a prominent global medical technology company, announced the launch of AmnioExcel Plus Placental Allograft Membrane, its newest wound care offering to support soft tissue repair. AmnioExcel Plus is a next generation, thicker, tri-layer, non-side precise allograft consisting of amnion-chorion-amnion layers that helps in creating an environment to help close complex wounds.
In April 2020, BandGrip and Medline announced an exclusive sale, marketing, and distribution agreement. This partnership will help to enhance the post-operative patient experience.

Regions Covered:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

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Market Trends:

Adoption of advanced wound dressings with antimicrobial properties.
Shift towards outpatient wound care management.
Increasing preference for minimally invasive wound treatment options.
Growing focus on personalized wound care solutions.

Key Market Study Points:

Market size and growth projections.
Demand analysis based on service type, application, and region.
Competitive landscape assessment.
Regulatory landscape and reimbursement scenarios.
Technological advancements and product innovations.

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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