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Wound Dressing Market Size Worth USD 14.2 Billion By 2025 | CAGR: 3.8%

The global wound dressing market is expected to grow at CAGR of 3.8% to reach USD 14.2 billion by 2025

Wound dressing industry consists of treatment for either chronic or temporary cases, caused by bed sores, infections, accidents, diabetic foot ulcers etc. The key driver for this industry is an increase in the number of road accident and burn cases. As per the World Health Organization (WHO), estimated 1.25 million death records every year globally due to road traffic injuries (which is approximately 1 person is killed within every 25 seconds). Such factors would in turn stimulate the demand for wound dressing products, driving the industry growth. However, high cost and low awareness among patient population hampers the market growth to some extent.

Key Takeaways

Traditional and advanced dressing are two different types of wound dressing products.
Advanced wound dressing products includes foams, hydrocolloid system, alginates, superabsorbent wound dressings. These product segment is witnessing a faster growth rate due to the introduction of advanced technology based products coupled with scientific know how.
Surgical wound bandage also captures a significant revenue share owing to the increasing incidence of chronic disease conditions
North America captures almost half the revenue share of the global wound dressing industry due to increasing incidence of lifestyle diseases like obesity and diabetes coupled with aging population.
In addition, countries like China and India remains a key market for emerging players. Key companies are increasingly investing in these countries to capture significant revenue share.
Some of the key players operating in the industry are 3M Company, DermaRite Industries Hollister Incorporated, Medtronic plc, Integra Life Sciences, Mölnlycke Health Care, Johnson & Johnson Services Ltd., DeRoyal Industries, Inc., and Smith & Nephew plc.
Innovation remains one of the important factor to attract new customers. Existing companies are investing huge amount on research and development activities to introduce novel products.
For instance, in May 2018, Coolplast introduced Biatain Silicone with 3DFit Technology. This product offers full-range portfolio of foam dressings technology designed to give healthcare specialists versatility in the management of exuding wounds or the prevention of pressure injuries.

KEY BENEFITS OF THE REPORT:

The report presents a macro and micro-level outlook regarding the industry. Thus, it becomes easy for our clients to perceive the business landscape and take a glimpse of their own standing in it.
A thorough analysis of relevant statistical data to estimate the market paradigms
Exceptional understanding of region and country-specific markets. The report will answer some of the toughest questions regarding the market shares, sizes, forecasts segmentations, and growth specific to the countries.
Well-designed strategic framework analyzes the market movements including regional expansion, mergers & acquisitions, and new product developments

The scope of this report covers the market by its major segments, which include as follows:

Market Segmentation

MARKET, BY PRODUCT