Wound Dressing Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 5.05 Billion |
| Market Size (2029) | USD 6.02 Billion |
| CAGR (2024 - 2029) | 3.61 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
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?
Wound Dressing Market Analysis
The Global Wound Dressings Market size is estimated at USD 5.05 billion in 2024, and is expected to reach USD 6.02 billion by 2029, growing at a CAGR of 3.61% during the forecast period (2024-2029).
COVID-19 had a significant impact on the overall healthcare industry. Road accidents and transportation injuries are responsible for most of the wounds. This served as the market's primary growth factor. There were far fewer accidents and injuries because of the global lockdown imposed during the early stages of the epidemic and the cancellation of public transportation. As per the article published in 2021 under the title 'The impact of the SARS-CoV-2 pandemic on the management of chronic limb-threatening ischemia and wound care', except in critical cases like chronic limb-threatening ischemia, there has been a paradigm change in wound care toward hybrid telemedicine and home healthcare approach to keep patients at home and decrease the amount of in-person clinic visits and hospitalizations. Hence, the factors mentioned above showed that COVID-19 had a notable impact on the wound dressings market.
The major factors for the growth of the wound dressings market include the rising incidences of chronic wounds, diabetic ulcers, and an increase in the volume of surgical procedures worldwide. For instance, as per the 2022 update from the International Diabetic Federation (IDF), approximately 537 million adults (20-79 years) are 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. Moreover, as per the IDF 2021 report, diabetic foot ulcers were affected by 40 to 60 million people globally. As a result, the market is likely to grow due to the increased prevalence of diabetic foot ulcers.
Chronic wounds lead to complications, such as infection, ulceration, and insufficient blood supply, thus, increasing the wound healing period. The most common chronic wounds include venous ulcers, diabetic foot ulcers, and pressure ulcers. Furthermore, government initiatives, awareness programs, and product launches boost market growth. For instance, Wounds Australia developed the Wound Awareness Week (WAW21) campaign in 2021 for the purpose of educating people regarding chronic wound complications and raising awareness of risks, warning signs, and treatments. In 2022 the campaign focused on the solutions needed to drive national change for those living with wounds.
As per the factors mentioned above, the wound dressings market is anticipated to witness growth over the forecast period. However high cost and lack of awareness about advanced wound dressing products restrain the market growth.
Wound Dressing Market Trends
This section covers the major market trends shaping the Wound Dressings Market according to our research experts:
Advanced Wound Dressing Segment is Expected to Hold Largest Market Share Over the Forecast Period
Advanced wound dressing focuses on keeping the wound hydrated to encourage healing and is generally prescribed by clinicians after a visit to the doctor or hospital. Advanced wound dressings include film, foam, hydrogel, hydrocolloid, collagen, and contact layers, among others. Factors such as the increased prevalence of diabetic foot ulcers are one of the major reasons behind the market growth. As per the 2020 update from IDF, diabetic foot ulcers affect 40 to 60 million people with diabetes globally.
Moreover, the availability of a wide range of products and the presence of key market players and R&D activities to advance the products in Advanced wound dressings. For instance, as per the article published in 2022, under the title 'L-Mesitran Foam: Evaluation of a New Wound Care Product', the study showed that the medical-grade honey of L-Mesitran has strong antimicrobial and wound healing activities. L-Mesitran Foam combines these properties of L-Mesitran Soft with the technology of foam dressings. Furthermore, the growing geriatric population, rising number of sports injuries, and associated risk of diabetes are projected to fuel the segment growth over the forecast period. For instance, as per the 2022 update from John Hopkins Sports Injury Statistics, in the United States, about 30 million children and teens participate in some form of organized sports, and more than 3.5 million injuries each year. Since increased injury cases lead to more adoption of wound dressing leading to market growth. Moreover, the presence of competitors, mergers, acquisitions, and product launches fuel the market growth. For instance, in April 2020, Convatec Group Plc, a global medical technology company, announced the launch of ConvaMax, a new superabsorber dressing distributed by Convatec.
Hence, as per the facts mentioned above, the advanced wound dressing segment is likely to boost market growth over the forecast period.
North America is Expected to Hold Largest Market Share over the Forecast Period
North America holds a major share in the wound dressings market, owing to the presence of better healthcare infrastructure and a rising number of surgical procedures in the region. The high number of diabetic populations in the country especially in the United States is indicating that there are chances of rising cases of diabetic ulcers. For instance, as per International Diabetes Federation, the United States of America is one of the 23 countries in the IDF NAC region. 537 million people have diabetes in the world and more than 51 million people in the NAC Region, this count is expected to rise to 63 million by 2045.
The presence of competitors, acquisitions, and mergers boost the market growth. For instance, in March 2022, Tennessee-based Triad Life Sciences Inc was acquired by Convatec Group. The Triad's current portfolio and product pipeline is transferred to Convatec's Advanced Wound Care (AWC) business and is likely to be known as Convatec Advanced Tissue Technologies.
As per the factors mentioned above, North America is expected to register a high growth rate for the studied market over the forecast period.
Wound Dressing Industry Overview
The Wound Dressings market studied is a moderately consolidated market owing to the presence of a few major market players. The market players are focusing on R&D to develop new and efficient products in the market. Some of the market players are 3M Company, ConvaTec Group PLC, DermaRite Industries LLC., DeRoyal Industries Inc., Hollister Incorporated, Integra LifeSciences Holdings Corporation, Coloplast A/S, Medtronic plc, Mölnlycke Health Care AB, and Smith & Nephew plc
Wound Dressing Market Leaders
3M Company
DermaRite Industries LLC.
Smith & Nephew plc
ConvaTec Group PLC
Mölnlycke Health Care AB
*Disclaimer: Major Players sorted in no particular order
Wound Dressing Market News
- In July 2022, MolecuLight Inc., a manufacturer in point-of-care fluorescence imaging for the detection of wounds containing elevated bacterial loads, announced the publication of an independent, blind randomized controlled trial in Diabetes Care. The publication reported that the 12-week wound healing rates (204%) in patients with diabetic foot ulcers who used a MolecuLight i:X device to visualize the presence of high bacterial burden in wounds were twice those who used standard-of-care alone.
- In March 2022, Cork Medical, a global manufacturer of wound care technologies, announced a partnership with MedTech Solutions Group (MTSG), a company that focuses on international medical device commercialization needs. In this partnership, Cork Medical, MTSG is now managing Cork Medical's international Negative Pressure Wound Therapy (NPWT) business in all countries, except the United States.
Wound Dressing Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Incidences of Chronic Wounds, Ulcers and Diabetic Ulcers
4.2.2 Increase in Volume of Surgical Procedures Worldwide
4.3 Market Restraints
4.3.1 High Cost and Lack of Awareness about Advanced Wound Dressing Products
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Advanced Wound Dressing
5.1.1.1 Foams
5.1.1.2 Hydrocolloids
5.1.1.3 Films
5.1.1.4 Alginates
5.1.1.5 Hydrogels
5.1.1.6 Other Advanced Wound Dressing
5.1.2 Traditional Wound Dressing
5.1.2.1 Bandages
5.1.2.2 Gauzes
5.1.2.3 Sponges
5.1.2.4 Abdominal pads
5.1.2.5 Other Traditional Wound Dressing
5.2 By Application
5.2.1 Surgical Wounds
5.2.2 Diabetic Foot Ulcers and Others
5.2.3 Burns
5.2.4 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 3M Company
6.1.2 ConvaTec Group PLC
6.1.3 DermaRite Industries LLC.
6.1.4 DeRoyal Industries Inc.
6.1.5 Hollister Incorporated
6.1.6 Integra LifeSciences Holdings Corporation
6.1.7 Coloplast A/S
6.1.8 Medtronic plc
6.1.9 Mölnlycke Health Care AB
6.1.10 Smith & Nephew plc
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Wound Dressing Industry Segmentation
As per the scope of this report, wound dressings are used to provide a therapeutic effect, which supports wound healing. Wound dressing products are used for minor injuries, as well as to treat serious problems, such as chronic and complex wounds, like burns. The Wound Dressings Market is segmented by Type (Advanced Wound Dressing and Traditional Wound Dressing), Application (Surgical Wounds, Diabetic Foot Ulcers and Others, Burns, Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
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Wound Dressing Market Research FAQs
How big is the Global Wound Dressings Market?
The Global Wound Dressings Market size is expected to reach USD 5.05 billion in 2024 and grow at a CAGR of 3.61% to reach USD 6.02 billion by 2029.
What is the current Global Wound Dressings Market size?
In 2024, the Global Wound Dressings Market size is expected to reach USD 5.05 billion.
Who are the key players in Global Wound Dressings Market?
3M Company, DermaRite Industries LLC., Smith & Nephew plc, ConvaTec Group PLC and Mölnlycke Health Care AB are the major companies operating in the Global Wound Dressings Market.
Which is the fastest growing region in Global Wound Dressings Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Wound Dressings Market?
In 2024, the North America accounts for the largest market share in Global Wound Dressings Market.
What years does this Global Wound Dressings Market cover, and what was the market size in 2023?
In 2023, the Global Wound Dressings Market size was estimated at USD 4.87 billion. The report covers the Global Wound Dressings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Wound Dressings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Wound Dressing Industry Report
Statistics for the 2024 Wound Dressing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Wound Dressing analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
