North America Advanced Wound Dressing Market Size, Share & Trends Analysis Report By Type (Dressings, Therapy Devices, Active Wound Care), By Application (Skin Ulcers, Surgical Wounds, Burn Wounds), By End-User (Hospitals, Specialty Clinics, Home Healthcare, Inpatient Services, Outpatient Services) and By Country(US, Canada) Forecasts, 2022-2030

Market Overview

In 2021, the North America advanced wound dressing market size is expected to reach a valuation of USD 6,835 million by 2030, growing at a CAGR of 8.5% during the forecast period (2022–2030).

Wounds are being classed as acute and chronic. There are standard and sophisticated wound care and closure solutions for their treatment. Chronic wounds are the wounds that are hard to heal, require extensive time to cure, and are expensive to treat. Advanced wound care and closure solutions are developing as a common method for treating chronic wounds. Many firms in this sector are seeking to increase their product portfolio in order to top this Industry. The major firms are purchasing other companies in this industry as their plan to control this market.

The term "advanced wound care" refers to the provision of medical supplies for the treatment of both acute and chronic wounds, including lesions, burns, and post-operative injuries. The advanced wound care therapies such as film and foam dressings, hydrogels, alginates, and hydrocolloids keep the wound moist and expedite the healing process without interfering with the process. People who suffer from chronic wounds can be assisted by the advanced wound care sector, which can provide these patients with goods that are convenient to get, affordable, and suitable for usage at the patients' own discretion. Chronic wounds are growing more prevalent, as are surgeries, and technology developments are driving the industry ahead. The market is being driven forward by technical breakthroughs.

Treatment of advanced wounds dressing goods are a sort of dressing products that are specifically designed for the treatment of both acute and chronic wounds. Healing a chronic wound might take far longer than an acute one and is associated with higher medical costs. This method of treating wounds is quickly becoming the gold standard for the treatment of chronic wounds. People who live with chronic wounds, which are typically time-consuming and expensive to treat, can now find some relief because to technological advancements in wound care equipment. In this respect, technological advancement has made great development. Because they promote faster healing of chronic wounds, advanced wound care products are rapidly displacing their more conventional equivalents in the medical industry.

Patients who suffer from chronic wounds are the target audience for the advanced wound care industry, which provides treatments that are easy to obtain and affordable. The treatment for advanced wound care includes intervention therapies and products such as collagen products, hydrocolloids, antimicrobial dressings, foam dressings, alginate dressings, gauze composites, film dressings, and hydrogels. Other types of dressings include foam dressings, gauze composites, and film dressings. Patients in North America who are affected with chronic wounds are seeing an improvement in their quality of life as a result of the rapidly advancing and increasingly user-friendly technologies.

Market Dynamics

Industry drivers

The North American market is primarily driven by technological advancements, an expanding ageing population, rising hospital expenses, rising occurrences of chronic wounds and diabetes, efforts done by the government, and an urgent demand for treatment of chronic wounds that is both quick and safe. Demand is being driven by rising rates of chronic illnesses like diabetes and cancer in North America, which is one of the world's largest consumer markets. The widespread use of innovative treatment methods in the healthcare industry is also driving up consumer demand in the advanced wound dressing market. The quickening pace of market expansion is being significantly impacted by the expanding emphasis placed on the modernization of healthcare infrastructure. Alterations in lifestyle are anticipated to play a role in expanding the patient pool, which is another factor that is going to fuel the growth rate of the market. In addition, rising costs associated with medical care and rising levels of discretionary income contribute to an increase in market demand in this region. It is projected that increased research and development efforts in wound care, as well as the rising popularity of sophisticated wound care products, would contribute to the growth of demand in the market.

Industry restraints

However, the rate of expansion of the market is being hampered by the fact that people in developing nations have an inadequate understanding of wound care products. The advanced wound care market in North America is seeing expansion at a rate that is being slowed down by a number of factors, one of which is the high cost of the devices. In addition to this, there is a shortage of competent personnel working in hospitals, and people in rural regions are hesitant to accept modern medical practises, all of which are discreetly hurting market demand in North America.

Regional Analysis

In 2021, North America dominated the North America advanced wound dressing market, and the region is predicted to rise at a significant rate over the forecast period. With a projected CAGR of 8.5%, it is predicted to reach USD 6,835 million by 2030. The market is expected to increase due to rising traffic accidents, sports injuries, and a number of major companies in the area. In addition, throughout the projection period, the existence of sufficient qualified experts and a well-developed healthcare infrastructure is likely to propel market expansion.

The United States held the largest proportion of the advanced wound dressing market in North America in 2021. The fundamental drivers of the market include a well-developed healthcare infrastructure, rising knowledge about the use of improved wound care products, and a number of significant market competitors. In addition, the market is expected to be driven by an increase in the number of orthopaedic treatments as a result of the increasing frequency of sports injuries.

The market is becoming increasingly significant as seen by the trends indicating that individuals want more effective remedies for their ailments. Additionally, the senior population in this region, for whom easy access to medical care is of the utmost importance, is the primary target demographic for this technology.

As a result of having the region's fastest-growing patient population for diabetes and cancer, the advanced wound care industry in Canada is anticipated to play a big role in the North American market during the next several years. In addition, rising awareness through various campaigns is anticipated to be another factor that will contribute to the market's demand being bolstered.

As a result of an increase in the number of people suffering from chronic wounds and ulcers, the market for advanced wound care in Mexico is seeing substantial growth in the North American area. The rise in the number of people suffering from leg ulcers in the area has increased the demand for innovative wound care solutions.

Segmental Analysis

The worldwide advanced wound dressing market is divided into four categories: product, application, end-user, and geography.

Foam, hydrocolloid, film, alginate, hydrogel, collagen, and other advanced dressings make up the worldwide advanced wound dressing market. In 2021, the hydrocolloid dressing segment had a considerable market share, and it is expected to increase at the quickest rate throughout the projected period. At a CAGR of 5%, it is predicted to reach a total value of USD 2,080 million by 2030. Gel-forming materials including carboxymethylcellulose (CMC) and gelatin are used in hydrocolloid dressings. These materials are occlusive, which aids in the retention of moisture. These dressings promote rapid healing and are bacterial infection resistant. As a result, both inside and externally, it helps to protect wounds.

Furthermore, throughout the projection period, rising diabetes incidence around the world are predicted to boost category growth. In 2015, about 5% of individuals in the United States were diagnosed with Type 1 diabetes, according to the CDC. Diabetic sores or diabetic ulcers affect around 15% of the diabetic population. As a result, throughout the projection period, demand for hydrocolloid wound dressing is expected to rise.

The worldwide North America advanced wound dressing market is segmented into chronic and acute wounds based on application. In 2021, the acute wound segment had the greatest market share. At a CAGR of 4.5%, it is predicted to reach a value of USD 6,430 million by 2030. Surgical and traumatic wounds, as well as burns, are among the acute wounds. Due to the rising number of instances of trauma in the United States, the surgical and traumatic wounds category had the biggest proportion. According to the World Health Organization (WHO), trauma accounts for around 9% of worldwide mortality in 2019.

Hospitals, specialised clinics, home healthcare, and others are among the end-users in the worldwide advanced wound dressing market. The market was dominated by the hospital segment. At a CAGR of 4.5%, it is predicted to reach a value of USD 4,850 million by 2030. The key category expansion driver is the increased prevalence of diabetic foot ulcers and venous leg ulcers. Furthermore, as the number of procedures grows, the chance of surgical wounds grows, driving the sector ahead. Advanced wound dressing is frequently used to treat SSI wounds. As a result, such factors may help to improve segment growth throughout the forecasted term.

Impact of covid-19

The automotive industry is critical to the economy's growth. However, during the second and third quarters of 2020, the COVID-19 outbreak impacted the whole automotive supply chain, affecting new car sales in FY 2020.

South America is most affected by COVID-19, with Brazil leading the way, followed by Ecuador, Chile, Peru, and Argentina. South America's government (SAM) has taken a number of steps to protect its citizens and stem the spread of COVID-19. South America is expected to have fewer export revenues as commodity prices fall and export volumes fall, particularly to China, Europe, and the United States, which are all significant trading partners. The manufacturing industry, especially automotive manufacturing, has been damaged by containment measures in various South American countries. Due to the pandemic, major automotive manufacturers have also temporarily halted manufacturing in the region as a cost-cutting move. Furthermore, the automobile disc brake industry has been significantly affected in 2020 due to a lack of raw materials and supply chain disruption.

The Automotive Brake System control module of a vehicle is meant to alert the driver with a warning light if the system fails. The module itself is rarely defective; instead, the sensors or the wiring to the sensors are frequently defective. The most typical cause of dysfunction is when the Automotive Brake System is contaminated with particles or metal shavings. There is no signal continuity when sensor wiring is destroyed. Brake fluid becomes contaminated in corrosive situations, and the hydraulic unit fails to function.

Recent Developments

In May of 2019, 3M completed the acquisition of Acelity, Inc. in an effort to bolster its wound management products and broaden its client base.