Global Wound Dressing Market, By Product Type (Traditional and Advanced (Alginates, Collagens, Films, Foams, Hydrocolloids, Hydrogels, and Wound Contact Layers)), By Property (Antimicrobial and Non-antimicrobial), By Application (Surgery, Trauma, Burns, Chronic Wounds, and Others), By End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 6,956.40 million in 2018 and is projected to exhibit a CAGR of 6.2% over the forecast period (2019-2027). Increasing prevalence of chronic wounds, increasing funding for research and development of new wound dressing equipment, product launches, technological advancements, and mergers and acquisitions by market players are major factors driving growth of the global wound dressing market. Key players in the global wound dressing market are focused on developing and launching innovative products for wound dressing and management, which is expected to drive growth of the market over the forecast period. For instance, in February 2019, Axio Biosolutions, an India-based medtech company, launched MaxioCel, a next generation wound care dressing made of chitosan in New Delhi, India. The product is expected to provide comfort and faster healing to patients suffering from chronic wounds such as pressure ulcers, diabetic foot ulcers, venous leg ulcers, cavity wounds, skin abrasions, donor sites, and post-operative surgical wounds. Furthermore, major manufacturers in the wound dressing market are focusing on strategic mergers and acquisitions, in order to gain significant market share. For instance, in May 2019, 3M acquired Acelity LP, a company focused on advanced wound care and specialty surgical applications. This acquisition is expected to expand 3M's medical solution business segment and accelerate the growth of advanced and surgical wound dressing solutions. Increasing product launches of more effective products in the global wound dressing market is expected to drive the market growth in the near future. Crawford Healthcare received the U.S. FDA approval for its wound dressing KerraCel AG in February 2017. This is the only product in the market, which contains silver to kill bacteria, which also includes bacteria resistant to antibiotics. Other antimicrobial wound dressings by Crawford Healthcare that utilizes honey, iodine or polyhexamethylene biguanide (polyhexanide, PHMB) for effective wound management. These wound dressings are protective and also promote healing of wounds. Such innovative therapies are expected to propel the global wound dressing market growth.
Browse 34 Market Data Tables and 32 Figures spread through 172 Pages and in-depth TOC on “Wound Dressing Market, By Product Type (Traditional and Advanced (Alginates, Collagens, Films, Foams, Hydrocolloids, Hydrogels, and Wound Contact Layers)), By Property (Antimicrobial and Non-antimicrobial), By Application (Surgery, Trauma, Burns, Chronic Wounds, and Others), By End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027”
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Moreover, Healogics, Inc. initiated an integrated wound care community model in 2014, which provides inpatient consultation and ensures safe transition of patients out of hospitals. A research firm in Midwestern U.S. from 2014 to 2016 revealed that average length of stay in acute care setting decreases from 9.41 days to 5.64 days, reducing the overall treatment cost. Thus, an integrated approach between the stakeholders in the global wound dressing market is recommended to improve patient outcomes.
Key Takeaways of the Wound Dressing Market:
- The global wound dressing market is expected to exhibit a CAGR of 6.2% over the forecast period (2019–2027), owing to product developments, product launches, and strategic mergers and acquisitions.
- Among product type, the advanced segment is expected to account for major revenue share in 2027. Increasing technological advancements in advanced wound care is expected to drive the advanced segment growth. For instance, in June 2019, a Finland-based company UPM launched advanced wound care product FibDex in Europe market. FibDex is the first wound dressing, which is made from wood-based nanofibrillar cellulose. As nanofibrillar cellulose is biocompatible with human cells and tissues, it forms the core of the dressing.
- Major players operating in the global wound dressing market include 3M Company, Coloplast A/S, Derma Sciences, Inc., Smith & Nephew plc, Mölnlycke Healthcare, Medtronic Plc, Medline Industries, Inc., Organogenesis Inc., Integra LifeSciences Corporation, and MiMedx Group, Inc.
