The growth of the global Wound Dressings Market can be attributed to factors such as hospital budget cuts, a large inventory of used or old medical devises, rising demand for capital-intensive diagnostic imaging equipment, e-commerce platform enhancing the ease of purchase of refurbished medical equipment, growing preference for eco-friendly products, an increasing number of diagnostic centers & hospitals, and the growing opportunities in emerging economies.
According MarketsandMarkets Research Report – [184 Pages Report] The wound dressings market is projected to reach USD 11.2 billion by 2025 from USD 7.0 billion in 2020, at a CAGR of 9.7%. The growth of this market is majorly driven by the growing number of road accidents; increasing incidence of chronic, surgical, and traumatic wounds; high rate of cesarean sections in elderly women; rising incidence of burn injuries; and technological advancements in wound dressings.
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3M (US) held the leading position in the wound dressings market in 2019. The company focuses on product launches and acquisitions to increase its share in the wound dressings market. 3M is a pioneer in advanced wound care and has been in the market for more than 15 years, which provides it with a competitive edge in the market.
Cardinal Health (US) held the second position in the wound dressings market in 2019. Its well-established product portfolio has helped it in maintaining its leading position in the wound dressings market. The company focuses on organic growth strategies such as product launches to expand its consumer base.
Advanced wound dressings segment accounted for the largest share of the wound dressings market, by type, in 2019
Based on type, the wound dressings market is segmented into traditional wound dressings and advanced wound dressings. The advanced wound dressings segment is further divided into foams, hydrocolloids, hydrofibers, films, alginates, collagen, hydrogels, wound contact layers, superabsorbents, and other advanced dressings (such as honey, charcoal, NPWT, and gelling fiber dressings). The advanced wound dressings segment accounted for the largest share of the wound dressings market in 2019. This can be attributed to the increasing incidence of diabetic ulcers, venous ulcers, and pressure ulcers.
Surgical and traumatic wounds segment accounted for the largest share of the wound dressings market in 2019
Based on wound type, the wound dressings market is segmented into surgical and traumatic wounds, diabetic foot ulcers, pressure ulcers, venous leg ulcers, and burns and other wounds. The surgical and traumatic wounds segment accounted for the largest share of the wound dressings market in 2019. The large share of this segment can be attributed to the increasing prevalence of chronic conditions and the growing number of surgical procedures performed.
Hospitals, ASCs, and clinics are the largest end users of wound dressings
Based on end users, the wound dressings market is segmented into hospitals, ASCs, and clinics; home care settings; and other end users. The hospitals, ASCs, and clinics segment accounted for the largest market share in 2019. This can be attributed to the rising need for wound care services and the increasing need for better wound management products for treating complex wounds.
North America will continue to dominate the wound dressings market during the forecast period.
In 2019, North America accounted for the largest share of the wound dressings market, and this trend is expected to continue during the forecast period. The growing geriatric population, increasing incidence of chronic wounds, rising healthcare expenditure, and the presence of major market players are responsible for the large share of North America in the global wound dressings market.
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- In January 2020, ConvaTec announced the launch of ConvaMax, which helps in managing highly exuding wounds, including leg ulcers, surgical wounds, and diabetic foot ulcers.
- In September 2018, ConvaTec received the US FDA 510(k) clearance for its AQUACEL Ag Advantage antimicrobial dressings.
- In November 2018, Mölnlycke introduced the Mepilex Border Flex dressing engineered to support fewer dressing changes and reduce dressing costs and waste while creating an optimal healing environment.