Interactive Wound Dressing Market Size

Interactive Wound Dressing Market Analysis

The interactive wound dressing market is expected to register a CAGR of 5.97% over the forecast period.

The interactive wound dressing market was severely affected by the COVID-19 pandemic in the initial phases as strict lockdown measures across major cities resulted in less transportation or less incidence of injuries. However, the business has been recovering since the limitations were relaxed. Sales of interactive wound dressings have increased over the past two years, new products have also been introduced, and chronic wounds are increasingly common.

• Technological advances, the rising prevalence of chronic wounds, and an increasing number of surgical procedures mainly drive the interactive wound dressing market. For instance, according to International Diabetic Federation (IDF), in 2022, approximately 537 million adults (20-79 years) will be living with diabetes. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. 
• The prevalence of diabetes increases the risk of diabetic foot ulcers, thus contributing to the market's growth. Moreover, as per the IDF 2021 report, diabetic foot ulcers affected 40 to 60 million people globally. As a result, the market is likely to grow due to the increased prevalence of diabetic foot ulcers. Hence, the growing prevalence of several lifestyle disorders leading to chronic wounds, such as diabetic foot ulcers, venous leg ulcers, and pressure ulcers, is one of the key factors estimated to encourage the growth of the interactive wound dressing market in the coming years. 
• Moreover, interactive wound dressings are in high demand as these dressings provide a moist environment for wound healing. These dressings help in faster re-epithelialization, and collagen synthesis, promote angiogenesis by creating hypoxia to the wound bed, and decrease wound bed pH, which reduces wound infection. 
• An article published in June 2021 by Wiley stated ongoing studies investigating the significance of smart wound dressings as an emerging strategy for wound care management and the effectiveness of different smart dressing types for aiding wound healing. As a result of these advancements in interactive wound dressing, the need for wound healing products increases, spurring market growth during the forecast period.
• The market for interactive wound healing is also growing as key players carry out their strategic goals through mergers, product launches, and acquisitions. For instance, in September 2021, the United States Food and Drug Administration (USFDA) cleared the Omeza Collagen Matrix, a drug-device combination matrix for chronic wound care. The approval was granted through the FDA 510(k) premarket notification process. The design is based on intimate contact with regular and irregular wound beds to aid natural wound healing. The product is a no-prep application accessible in unit dose vials.
• Hence, the interactive wound dressing market is anticipated to witness growth during the forecast period due to technological advancements, the rising prevalence of chronic wounds, and an increasing number of surgical procedures. However, the high cost associated with the treatment and stringent regulatory framework for approval of the new technologies serve as factors that hinder the market growth.