Wound Dressing Market Size & Growth | Global Forecast to 2028

Wound Dressing Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Types (Traditional Wound Dressings and Advanced Wound Dressings), Applications (Chronic Wounds and Acute Wounds), End User (Hospitals & Clinics, Ambulatory Surgical Centers, and Others), and Geography  

Publication Month : Jun 2022

  • Report Code : TIPHE100001236
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 244
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The wound dressing market  is expected to grow from US$ 11,319.06 million in 2022 to US$   16,248.76 million by 2028; it is expected to register a CAGR of 6.2% from 2022 to 2028.

A wound is defined as a discontinuity in the epithelial lining of the skin or mucosa due to physical or thermal injury. It can be present in various anatomical parts of the body. However, the basic principles of choosing a wound dressing remain the same. Selecting the proper dressing shortens healing time, provides cost-effective care, and improves the patient's quality of life. This activity examines materials, techniques, cost, ease of use, and healthcare professional preferences. This activity also addresses the assessment and management of different wound dressings and highlights the role of the interprofessional team in wound care. Rising awareness about the importance of wound care and increased incidences of pressure ulcers and diabetic foot ulcers will propel the market's growth. On the other hand, the unfavorable reimbursement scenario is likely to hinder the development of the market during the forecast period.

The report offers insights and in-depth analysis of the wound dressing market , emphasizing various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of global leading market players. It also includes the impact of the COVID-19 pandemic on the market across all regions. Due to the COVID-19 pandemic, many health authorities focused on pandemic-related care. The COVID-19 pandemic hampered supply and demand equations in different industries, including healthcare and tourism. Governments worldwide acted quickly and predictably to safeguard their populations and control the progress of COVID-19 and its economic consequences in the region. On the other hand, several governments ramped up the capacities of their healthcare systems to deal with the crisis, allowing better access to health to people. Building emergency hospitals, increasing ICU bed count, and training health workers to manage critical care units were among the initiatives taken by the government.

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Wound Dressing Market: Strategic Insights

Market Size Value inUS$ 11,319.06 million in 2022
Market Size Value byUS$ 16,248.76 million by 2028
Growth rateCAGR of 6.2% from 2022 to 2028.
Forecast Period2022-2028
Base Year2022
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The wound dressing market  is segmented into type, application, end-user, and geography. The market is segmented by region: North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.

Lucrative Regions for Wound dressing market

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Market Insights
Increasing Incidence of Target Diseases and Procedures

A global increase in chronic diseases, such as diabetes, cancer, and other autoimmune disorders is burdening the healthcare system worldwide. Chronic diseases directly impact the body's natural ability to heal. Diabetes and immunodeficiency conditions are among the most harmful conditions that can slow wound repair. Diabetes is the chronic disease most commonly identified and associated as a risk factor for hospital-acquired and facility pressure injuries. Diabetes impacts the immune system, making infections more common and complicating wound healing. It is one of the most significant global health emergencies of the 21st century. According to the International Diabetes Federation (IDF), in 2021, approximately 537 million adults (20-79 years) will have diabetes. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. Thus, the prolonged healing process due to chronic diseases leads to a long-term need for wound dressings, resulting in high demand for them.

Type-Based Insights

Based on type, the global wound dressing market is bifurcated into the advanced and traditional wound dressing. The advanced wound dressing segment held a larger market share in 2022; moreover, the same is expected to grow over the forecasted period. Advanced wound dressings promote healing by preventing the wound from dehydration and avoiding re-injury of new granulation tissue due to scarring.

Wound dressing market , by Type – 2022 and 2028

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Application-Based Insights

Based on application, the global wound dressing market is bifurcated into chronic and acute wounds. The chronic wounds segment held the largest share of the market in 2022; moreover, the same is expected to grow over the forecasted period. The prevalence of chronic wounds is increasing due to the rising geriatric population and increasing incidence of obesity, diabetes, and cardiovascular diseases, which is expected to promote the growth of the wound dressing market during the forecast period.

End User-Based Insights

Based on end user, the wound dressing market is segmented into hospitals, ambulatory surgical centers, clinics, and others. In 2022, the hospitals segment is estimated to hold the largest share of the market. Wound dressing is required in the hospital when treating acute and chronic wounds. The hospital provides extensive healthcare and medical services to patients suffering from various diseases and disorders. The hospital segment is expected to grow during the forecast period due to increasing cases of diabetic foot ulcers and venous leg ulcers.

The wound dressing market  players adopt organic strategies such as product launch and expansion to expand their footprint and product portfolio worldwide and meet the growing demand. In February 2021, Axiobiosolutions announced that it received CE certification from Europe for its next-generation advanced wound care product range MaxioCel.

Geography-Based Insights

By geography, the wound dressing market  is segmented into North America (US, Canada, and Mexico), Europe (France, Germany, UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, UAE, South Africa, and the Rest of the MEA), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Company-Based Insights

Convotec Inc.; Coloplast Corp; 3M; Medline Industries Inc.; Medtronic; Integra Lifesciences; Advancis Medical USA LLC; Smith & Nephew PLC, AxioBiosciences and Mölnlycke Health Care AB are the leading companies operating in the wound dressing market.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Types, Applications, End User, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions

What is meant by the wound dressing?

Wound dressings are different from a bandage that holds the dressing in place, and it is designed to be in direct contact with the wound. Wound dressing serves various purposes depending on the wound's type, sternness, and position, apart from the significant function of reducing the risk of infection, stopping hemorrhaging, and starting clotting.

What are the driving factors for the wound dressing market across the globe?

Increasing number of traumatic injuries and rising prevalence of chronic diseases & related wounds are most significant factors responsible for the overall market growth.

Which segment led the wound dressing market?

Based on type, market is bifurcated into advanced wound dressing and traditional wound dressing. Advanced wound dressing segment is anticipated to hold a larger share in 2022 and is expected to continue to do so during the forecast period.

Who are the key players in the wound dressing market?

Convatec Inc.; Coloplast Corp; 3M; Medline Industries, Inc.; Medtronic; Integra LifeSciences Holdings Corporation; Smith+Nephew; Advancis Medical; Mölnlycke Health Care AB.; Axio Biosolutions Pvt Ltd. are among the leading companies operating in the global wound dressing market

The List of Companies - Wound Dressing Market
  1. Convatec Inc
  2. Coloplast Corp  
  3. 3M
  4. Medline Industries, Inc.               
  5. Medtronic
  6. Integra LifeSciences Holdings Corporation           
  7. Smith+Nephew               
  8. Advancis Medical            
  9. Mölnlycke Health Care AB.         
  10. Axio Biosolutions Pvt Ltd             

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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