Market Size of Bioactive Wound Dressing Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 11.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Bioactive Wound Dressing Market Analysis
The bioactive wound dressing market is expected to register a CAGR of 11% during the forecast period.
The COVID-19 outbreak impacted the bioactive wound dressing market and the overall healthcare sector, as hospitals and healthcare services were reduced due to social distancing measures taken by governments worldwide. The COVID-19 pandemic affected the global economy and greatly impacted the functioning of general hospital care for non-COVID-19 patients in hospitals globally. The article presented by UpToDate Inc., updated in June 2022, indicated that the delivery of wound care, which should be regarded as an essential medical service, shifted during the COVID-19 pandemic. During the pandemic, significant importance was placed on wound care to prevent serious wound complications by minimizing hospitalization and surgery rather than completing wound healing. The reduction in the available bioactive wound dressing services was adversely impacted by the COVID-19 pandemic but has recovered in the two years to post strong growth.
The bioactive wound dressing market is driven by advancements in technology, the growing aging population, the rising burden of chronic wounds, and problems associated with conventional wound healing procedures. An article published in the Journal of Advances in Wound Care in March 2021 indicated that chronic wounds impact the quality of life (QoL) of nearly 2.5% of the US population and that wound care management has an important economic impact on the US healthcare sector. Chronic wounds are most commonly seen in the elderly population of the nation. With the growing geriatric population in the United States, the incidence of chronic wounds is expected to increase, thereby aiding the growth of the market studied. According to the World Bank Report 2022, there were 11,075 surgical procedures (per 100,000 population) in the European Union. The rising number of surgeries in Europe has been directly contributing to the growth of the market studied in the long run, as wounds have also been increasing due to surgeries. Therefore, with the rising volume of surgical procedures, the market studied is expected to grow over the forecast period.
However, the high cost of treatment and unfavorable reimbursement policies are a few factors hindering the growth of the bioactive wound dressing market.
