Wound Dressing Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Wound Dressing Market is segmented By Product Type (Traditional wound dressing, Modern wound dressing, Bioactive wound dressing, Tissue-engineered skin substitutes, Medicated dressing, Composite dressing), By Material Type (Hydrocolloid, Hydrogel, Collagen, Alginate, Foam, Transparent), By Wound Type (Chronic wounds, Acute Wounds), By End User (Hospitals, Specialty Clinics, Research Organizations, Trauma Centers, Community Centers, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Wound Dressing Market Size

Global Wound Dressing Market reached USD YY million in 2023 and is expected to reach USD YY million by 2031, growing at a high CAGR during the forecast period 2024-2031.

Wound dressings clean, cover, and protect the wound from the external environment. It must provide a moist environment, remove excess exudate, avoid maceration, protect the damage from infection, and maintain an adequate exchange of gases.

Wound dressings are chosen to address exudate control, wound protection, and pain relief. A dressing or compress is a sterile pad applied to a wound to promote healing and protect the wound from further harm. Modern dressings include dry or impregnated gauze, plastic films, gels, foams, hydrocolloids, alginates, hydrogels, and polysaccharide pastes, granules, and beads.

Wound Dressing Market Scope

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Wound Dressing Market Dynamics

Rising research & investment activities related to wound dressing  

The increase in the investments by the companies in order to provide advanced wound dressing and wound care is expected to drive market growth. The increase in the product launches and approvals of the new products is also expected to drive the market growth.

For instance, on May 24, 2023, Wound management company RedDress raised $26m in a Series D financing round to continue developing its technology that harnesses human blood to jump-start the wound healing process. The round, which received participation from investors including ATHOS Biopharma GmbH, brings the company’s total funding to $43m.

Additionally, on May 14, 2021, Healogics released a new $240 million equity investment, positioning the Company to continue its growth as a leading patient-centric wound care center operator. 

High costs associated with the wound dressings 

The high cost associated with advanced wound dressing is expected to hamper the market growth. The direct costs for pressure ulcer treatment range between $2,000 and $20,000. 

Wound Dressing Market Segment Analysis

The global wound dressing market is segmented based on product type, material type, wound type, end-user and region.

Chronic wounds segment accounted for 45.3% of the market share 

Chronic wounds segment is expected to hold a significant position in the market position. The increase in chronic wound burdens such as diabetic ulcers, nonhealing surgical wounds, burns, and venous-related ulcerations is expected to increase the demand for wound dressing and thus increase segment growth. 

For instance, according to the report issued by Mission Regional Medical Center in 2022, more than 29 million people (9.5% of the population) have diabetes in the United States (US) and almost two million of those people annually will develop a diabetic foot ulcer or other non-healing wound.

Additionally, according to the report by the National Institute of Health in 2023, over 6.7 million people in the United States alone suffer from chronic nonhealing wounds including diabetic ulcers, nonhealing surgical wounds, burns, and venous-related ulcerations.

Wound Dressing Market Geographical Share

North America is expected to hold a significant position in the global wound dressing market share

North American region accounted for the largest market share. The increase in the number of product launches, the presence of the major players in the region, and improved healthcare infrastructure in the region are expected to hold the region in the dominant market share.  

For instance, on December 8, 2022, NEXGEL Inc. launched a unique hydrogel dressing, called Turfguard, for treating painful turf burns and protecting sports-related wounds.

Additionally, on August 11, 2022, DrySee launched a patented waterproof bandage with a liquid intrusion alert to users and caregivers when water or other liquids have penetrated the bandage. Thus, introducing new products and approvals is expected to drive the market growth in the region.

COVID-19 Impact on Wound Dressing Market

COVID-19 pandemic was expected to lower the use of advanced wound dressing, as they require healthcare advice, thereby restricting the market's growth. The disruption in the supply chains and closure of the hospitals have affected the market growth negatively. 

Wound Dressing Market Companies

The leading companies with a significant market share include 3M Company, Dukal Corporation, Integra Lifesciences Holdings Corporation, Medline Industries Inc., Mckesson Corporation, Acelity L.P. Inc., Mölnlycke Health Care, Coloplast Corp., Argentum Medical LLC, Urgo Medical among others.

Key Developments

• On 3 January 2023, Convatec launched ConvaFoam, a family of advanced foam dressings designed to address the needs of healthcare providers and their patients.
• On October 18, 2023, DuPont launched a new soft skin adhesive for wound care dressings. The non-sensitizing, non-irritating, and non-cytotoxic adhesive helps to protect the highly sensitive and fragile skin.

Why Purchase the Report?

• To visualize the global wound dressing market segmentation based on product type, material type, wound type, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of wound dressing market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global wound dressing market report would provide approximately 69 tables, 71 figures, and 183 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies