Wound Dressing Market to be Worth $18.86 Billion by 2030: Grand View Research, Inc.

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14 Nov, 2022, 11:20 GMT

SAN FRANCISCO, Nov. 14, 2022 /PRNewswire/ -- The global wound dressing market size is expected to reach USD 18.86 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.14% from 2023 to 2030. An increasing number of people suffering from chronic wounds, a rise in technologically advanced dressing, and rising cases of traumatic accidents are expected to be the key driving factors for the market.

Key Industry Insights & Findings from the report:

Based on product, the advanced dressing segment dominated the market and accounted for a revenue share of 55.1% in 2021, and is projected to witness the fastest growth rate over the forecast period. This can be attributed to rising cases of traumatic accidents globally.
Based on application, the chronic wounds segment dominated the market and is anticipated to witness the fastest CAGR of 5.6% over the forecast period.
The hospitals segment dominated the market and accounted for a revenue share of 45.1% in 2021. Whereas, the home healthcare segment is expected to witness the fastest growth rate of 5.9% over the forecast period. The growth rate can be attributed to a rise in awareness among the public.
North America dominated the market and accounted for a revenue share of 45.4% in 2021, however, the Asia-Pacific region is projected to witness the fastest growth rate over the forecast period. This can be attributed to the rising geriatric population and the increase in the number of people suffering from diabetes.

Read full market research report, "Wound Dressing Market Size, Share & Trends Analysis Report By Product (Traditional Dressing, Advanced Dressing), By Application (Chronic Wounds, Acute Wounds), By End Use (Hospital, Home Healthcare), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Wound Dressing Market Growth & Trends

There has been an increase in the number of people suffering from chronic disorders such as diabetes, as a result, the number of people suffering from diabetic foot ulcers is increasing. For instance, as per the International Diabetes Federation, an estimated population of 61 million people aged between 20-79 years living in Europe were suffering from diabetes. Similarly, according to NCBI, the incidence rate of diabetes foot ulcers globally is between 9.1 million to 26.1 million annually. Thus, the rise in diabetes and diabetic foot ulcer patients is increasing the demand for wound dressing products, thereby impelling the market over the forecast period.

Moreover, there has been a global increase in the number of traumatic accidents such as burns, gunshots, and road accidents. For instance, according to stats by WHO, approximately 11 million burn cases occur worldwide, which leads to 180,000 deaths globally, Similarly, as per NCBI, every day, more than 30,000 burn cases are registered globally. Therefore, the rising global number of burn cases is anticipated to impel market growth over the forecast period.

The outbreak of COVID-19 resulted in nationwide lockdowns worldwide, and as a result, the growth of the market was restricted to a certain extent. However, the market is projected to witness a significant growth rate during the post-pandemic period. This can be attributed to various strategies such as product launches, partnerships, and geographic expansion used by leading market players. For instance, in December 2020, Molnlycke Health Care AB launched a new distribution in the U.K. It was a strategic move, strengthening their supply chain to increase the product reach in the U.K. population. Thus, as a result of the aforementioned factors, the market is expected to have significant growth during the post-pandemic period, thereby, propelling the market.

Wound Dressing Market Segmentation

Grand View Research has segmented the global wound dressing market based on product, application, end-use, and region

Wound Dressing Market - Product Outlook (Revenue, USD Million, 2018 - 2030)

Traditional Dressing

Gauze
Tape
Bandages
Cotton

Advanced Dressing

Moist Dressing

Foam Dressing
Hydrocolloid Dressing
Film Dressing
Alginate Dressing
Hydrogel Dressing
Collagen Dressing
Other Advanced Dressing

Antimicrobial Dressing

Silver Dressing
Non-silver Dressing

Active Dressing

Biomaterials
Skin-substitute

Wound Dressing Market - Application Outlook (Revenue, USD Million, 2018 - 2030)

Chronic Wounds

Diabetic Foot Ulcers
Pressure Ulcers
Venous Leg Ulcers
Other Chronic Wounds

Acute Wounds

Surgical & Traumatic Wounds
Burns

Wound Dressing Market - End-use Outlook (Revenue, USD Million, 2018 - 2030)

Hospitals
Specialty Clinics
Home Healthcare
Others

Wound Dressing Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

U.S.
Canada

Europe

U.K.
Germany
France
Italy
Spain

Asia Pacific

Japan
China
India
Australia
South Korea

Latin America

Brazil
Mexico
Argentina
Colombia

Middle East & Africa

South Africa
Saudi Arabia
UAE

List of Key Players in Wound Dressing Market

3M
Coloplast Corp.
Medline Industries
Smith & Nephew
Medtronic
ConvaTec Group PLC
Derma Sciences (Integra LifeSciences)
Ethicon (Johnson & Johnson)
Baxter International
Molnlycke Health Care AB.

Check out more related studies published by Grand View Research:

Hydrogel Dressing Market - The global hydrogel dressing market size is anticipated to reach USD 1.24 billion by 2030, registering a CAGR of 4.28%, according to a new report by Grand View Research, Inc. The market growth can be accredited to the rising prevalence of chronic wounds globally. The properties of hydrogel-based dressings can be adjusted much more easily compared to conventional chronic wound therapy methods. Moreover, owing to their adaptability and versatility, hydrogel dressings can be loaded with cells, antibacterial, antiviral, and antifungal agents, growth factors, and biomolecules to hasten wound contraction and healing. Furthermore, their ability to create in situ and cytocompatible chemical crosslinking these dressings may be easily applied to irregular or deep wounds. Thereby, owing to the above-mentioned advantages is expected to impel the hydrogel dressing market.
Film Dressing Market - The global film dressing market size is anticipated to reach USD 2,165.41 million by 2030, registering a CAGR of 4.54% during the forecast period, according to a new report by Grand View Research, Inc. The film dressing market growth can be accredited to the rising prevalence of chronic wounds, globally. People with diabetic foot ulcers are becoming more common, due to the rise in the population of those with chronic illnesses such as diabetes.
U.S. Wound Care Centers Market - The U.S. wound care centers market size is expected to reach USD 20.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.87% from 2022 to 2030. The increasing awareness regarding the use of Hyperbaric Oxygen Therapy (HBOT), for chronic injuries and the growing geriatric population prone to various conditions, is anticipated to drive the growth. In the U.S., up to 35% of the population suffers from chronic venous ulcers, which involve treatment expenditure of around USD 34,000 or more. High incidence of various types of wounds results in high demand for wound treatment, thereby propelling the growth of the wound care centers industry in the U.S.

Browse through Grand View Research's Medical Devices Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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