Market Size of Global Wound Dressings Industry
| 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.
