Global Advanced Wound Dressing Market by Product (Film Dressings, Foam Dressings), by End Use (Hospitals, Home Healthcare, Specialty Clinics) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global advanced wound dressing market was valued at USD6.6 billion in 2020. It is expected to grow at a compound annual rate (CAGR of 5.5%) between 2021 and 2028. Due to technological advances, the increasing prevalence of chronic wounds around the world, and an increase in surgical procedures, the demand for advanced wound dressings is growing. Advanced wound dressing is needed due to the rising incidence of chronic diseases like diabetes and cancer. Antimicrobial resistance, unhealthy lifestyles, excessive alcohol intake, smoking, and other factors are all contributing factors to an increase in non-communicable disease prevalence.

The Centers for Disease Control and Prevention (CDC) published the 2017 National Diabetes Statistic Report. It revealed that more than 100.0 millions Americans had diabetes or prediabetes. The WHO also reported that diabetes was responsible for approximately 1.6 million deaths worldwide in 2016.

Cancer is a major cause of death and has been a burden on healthcare systems around the world. The WHO estimates that cancer is the leading cause for death worldwide and nearly one in six deaths can be attributed. It also stated that more than 70% of all cancer-related deaths occur in low- and middle-income countries. Cancer Organization estimates that in 2018, the U.S. was second in death due to cancer with approximately 1,735,350 new cases. Nearly 4,700 new cases are also diagnosed every day in the United States.

Due to the increasing prevalence of chronic conditions, there has been an increase in the number of surgeries. To prevent infection of the surgical site, wound care products are becoming more popular. Post-cancer surgery surgical wounds are often large and deep. They release exudates that need to be managed regularly. Hydrogel, Alginate, foam and other advanced wound dressing products can be used to manage large wounds. This greatly reduces the chance of infection. Market growth is expected to be driven by the increasing incidence of chronic diseases.

The growing demand for home-care services is a major factor in the rapid increase in demand. Advanced wound dressing is expected to be a key driver in the future. The U.S. Bureau of Labor Statistics predicts that the U.S. will have 13.0 million personal care aides and healthcare in 2020. The growing geriatric population will likely promote home healthcare services, as older people are more likely than others to use such services. According to the Population Reference Bureau, the population of Americans 65 years and older is expected to rise from 52.0 million in 2018 up to 95.0 million in 2060. This would mean that the percentage of the U.S. geriatric population will increase from 16.0% in 2018 to 23.0% by 2060.

Product Insights

Foam dressings dominated advanced wound dressing market and held the largest revenue share at 23.6% in 2020. This segment is expected to grow at a significant rate during the forecast period. Hydrophilic polyurethane is a highly absorbent material that makes foam dressings. Foam helps to absorb moisture and maintain tissue integrity. Segment growth is expected to be driven by the increasing incidence of trauma and burns in the United States. According to the American Burn Association (ABA), 486,000 Americans received medical treatment for burn injuries in 2016. According to the American Burn Association (ABA), complications of infection are most common in burn patients. Foams are used to heal and prevent burn injuries. This segment is expected to grow rapidly over the forecast period.

Hydrocolloid dressings are expected to grow at the fastest rate during the forecast period. Hydrocolloid dressings contain gel-forming agents like Carboxy Methylcellulose and gelatin. These materials are water-retentive and occlusive by nature. These dressings are impermeable and can heal quickly. It protects the wound both internally and externally. Over the forecast period, segment growth is expected to be encouraged by the rising incidence of diabetes around the world. According to the CDC, around 5.0% of Americans were diagnosed in 2016 with Type 1 Diabetes. Around 15.0% of that diabetic population has diabetic wounds. These cases are likely to increase the demand for hydrocolloid wound dressings over the forecast period.

Application Insights

Acute wounds dominated the market in advanced wound dressing, accounting for 60.1% of the total market share. This segment is expected to grow at a significant rate during the forecast period. Acute wounds include burns and surgical wounds. Due to increasing trauma cases in the U.S., the surgical and traumatic wounds segments held the largest share of the market in 2018. Due to an increase in burn injuries, the segment of burns is expected to grow at the fastest rate during the forecast period.

Over the forecast period, the segment chronic wounds is expected to experience a significant growth rate. Major driving factors behind the segment's growth are rising numbers of people over 65 and diabetes. According to the United States Census Bureau in 2017, the number of Americans 65 and older grew by 1.6 millions between 2016 and 2017. This segment can be further divided into pressure ulcers and diabetic foot ulcers.

End-use Insights

Hospitals dominated the market in advanced wound dressing, accounting for 44.9% of the total revenue share. This segment's growth is mainly due to the increasing incidence of diabetic foot ulcers, and venous legs ulcers. The segment is also being driven by the increasing number of operations and the increase in surgical wounds. Advanced wound dressings are used to heal SSI wounds. These factors could boost the segment growth during the forecast period.

The fastest growing sector in the forecast period is homecare. Many surgeries require prolonged recovery periods, which means that dressings need to be changed frequently. This is why there is a growing demand for wound care products that can be used in home healthcare. Patients with chronic wounds and the elderly prefer to stay at home over going to hospital.

Regional Insights

North America was the dominant market for advanced wound dressings and held the largest revenue share at 45.4% in 2020. Over the forecast period, this region will experience a significant growth rate of 5.6%. The market for advanced wound dressings in the region will be driven by increasing road accidents and sports injuries. The market will also be driven by the availability of skilled professionals and a highly developed healthcare infrastructure over the forecast period.

The fastest growing market for advanced wound dressings in Asia Pacific is expected to be during the forecast period. The market is expected to grow due to the presence of developing countries like China, India, Japan. These countries are also experiencing a rapid growth in medical tourism. This can be attributed to the increased demand for wound dressings. According to the Report on Export Health Services, Directorate-General of Commercial Intelligence and Statistics of India in 2016, India had 58.300 medical tourists with medical visas.

Market Share Insights & Key Companies

The key players in the industry are involved in launching new products, mergers and acquisitions, partnerships and other strategies to increase their market share in advanced wound dressing. 3M purchased Acelity, Inc. in May 2019 to expand its customer base and strengthen its wound management solutions.

In order to produce technologically advanced products, key players are investing heavily. ConvaTec Group PLC, for example, launched Sensi-Care Skin Protectant Incontinence Wipes in March 2017. This was to increase its wound business and increase market share. The following are some of the most prominent players in advanced wound dressing markets:

• MOLNLYCKE HELTH CARE AB

• 3M

• CONVATEC GROUP PLLC

• BAXTER

• COLOPLAST CORP.

• MEDTRONIC

• DERMA SCIENCES INC.

• MEDLINE INDUSTRIES INC.

• SMITH & NEPHEW PLC

Up Market Research published a new report titled “Advanced Wound Dressing Market research report which is segmented by Product (Film Dressings, Foam Dressings), by End Use (Hospitals, Home Healthcare, Specialty Clinics), By Players/Companies M–LNLYCKE HEALTH CARE AB, MEDLINE INDUSTRIES INC, CONVATEC GROUP PLC, DERMA SCIENCES INC, 3M, COLOPLAST CORP, MEDTRONIC, SMITH & NEPHEW PLC, BAXTER”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Advanced Wound Dressing Market Report Segments:

The market is segmented by Product (Film Dressings, Foam Dressings), by End Use (Hospitals, Home Healthcare, Specialty Clinics).

Advanced Wound Dressing Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Advanced Wound Dressing Market

Overview of the regional outlook of the Advanced Wound Dressing Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Advanced Wound Dressing Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Advanced Wound Dressing Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Film Dressings

                2. Foam Dressings

                1. Hospitals

                2. Home Healthcare

                3. Specialty Clinics

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Advanced Wound Dressing Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Advanced Wound Dressing Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.