Wound Dressings Market

Market Overview

The global wound dressings market size was valued at USD 13.05 billion in 2022. It is estimated to reach USD 19.90 billion by 2031, growing at a CAGR of 4.8% during the forecast period (2023–2031). The need for wound dressings has increased due to the global rise in chronic illnesses like diabetes, cancer, and other autoimmune disorders.

One of the core competencies in nursing, healthcare, and first aid is dressing a wound. Wound dressing is the application of a clean dressing to a lesion to protect it and promote natural healing. Only the dressing should directly contact the wound site when bandaging a wound. The dressing must be sterile or entirely clean to stop bacteria and other harmful particles from entering the body through the wound and causing an infection.

Choosing the proper dressing will decrease the patient's healing time, provide cost-effective care, and enhance the patient's quality of life. Wound dressing aims to expedite the wound's healing by maintaining the optimal hydration level with an appropriate dressing material. It is crucial to consider cleanliness, absorption, control, and the requirement for medicine administration before choosing a particular wound dressing. Selecting a dressing based on cost, convenience of application, and the clinician's preference is crucial.

Market Dynamics

Market Drivers

Increasing Prevalence of Chronic Diseases Globally

The worldwide increase in chronic diseases such as diabetes, cancer, and other autoimmune diseases has propelled the demand for wound dressings. Antimicrobial resistance, the adoption of unhealthy and sedentary behaviors, alcohol consumption, and smoking are key contributors to the increased prevalence of non-communicable diseases. According to the WHO, approximately 1.6 million fatalities were directly attributed to diabetes worldwide in 2016.

The rising incidence of chronic ailments has correspondingly led to an escalation in the volume of surgical interventions conducted. Therefore, more and more wound dressing products are used to prevent surgical site infections. In addition, post-post-cancer surgery surgical wounds are relatively large and deep, generating exudate that must be regularly managed. The wound dressing products such as bandages, gauze, and biomaterials help manage large wounds, significantly reducing the risk of infection. Thus, the surging incidence of chronic diseases is anticipated to increase the demand for wound dressing products, propelling the market growth.

Increasing Demand for Skin Grafts

Increasing demand for skin grafts is an additional important factor driving market growth. Recent trends in burn care and treatment have shifted toward a more comprehensive approach emphasizing recovery from burn injury and enhancing the long-term function and form of the healed injury and the patient's quality of life. As a result, the demand for skin grafts and other skin substitutes in managing and treating acute burns has surged and is rising at an accelerating rate.

Skin grafts are used on partial and full-thickness burns and are important in treating burn injuries. Moreover, skin grafts offer various advantages, such as providing a more intact extracellular matrix, which aids in the healing of wounds. Skin grafts allow excellent re-epithelization due to the basement membrane's presence and show increased control over scaffold composition. It also has advantages over other dressing materials regarding absorbency and frequency of dressing change. Owing to the benefit above, there is a high demand for skin grafts, resulting in the overall growth of the wound dressing market.

Market Restraints

Stringent Manufacturing Policies

The U.S. FDA classifies most wound dressing products under Class I medical devices, exempted from premarket approval. Surgical dressings are utilized to provide coverage for open incision wounds, necessitating their production in a sterile atmosphere devoid of microbiological contamination. Any microbial contamination may hinder the wound-healing process and, in extreme cases, may cause additional infection at the site. Therefore, manufacturing companies may not need premarket approval but may be required to comply with Good Manufacturing Practices (GMP). According to these policies, wound dressing products must be manufactured under sterile conditions and undergo extensive quality control before product launches.

Market Opportunities

Increasing Number of Ambulatory Surgical Centers (ASCs)

ASCs offer various services, like surgical care, diagnostics, and preventive procedures. Pain management, urology, orthopedics, restorative, reconstructive, or alternative plastic surgery procedures, and Gastrointestinal (GI)-related procedures are also performed in ambulatory surgery centers. Previously, ASCs were only capable of performing minor gastrointestinal (GI)-related surgeries; however, as the number of minimally invasive surgical procedures surged, the services offered by ASCs expanded and grew exponentially.

In 2014, 17.2 million hospital visits were recorded by the Department of Health and Human Services (HHS) of the United States. These included invasive, therapeutic surgeries, and ambulatory surgeries. Approximately 9.94 million (57.8%) of these surgeries occurred in hospital-owned ambulatory surgery settings, and the remaining 7.26 million surgeries (42.2%) were conducted in hospitals. ASCs are rising in number and thus offer cost-effective services. Therefore, with a rise in the number of ASCs and the number of surgeries being conducted, demand for wound dressing products is expected to increase, thereby creating opportunities for market growth.

Regional Analysis

Based on region, the global wound dressings market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. 

North America Dominates the Global Market

North America is the most significant global market shareholder and is estimated to exhibit a CAGR of 4.9% during the forecast period. North America's market is anticipated to grow due to the escalating number of road accidents and sports injuries, as well as the presence of numerous key players in the region. The availability of experienced professionals and the enhancement of healthcare infrastructure are anticipated to stimulate the market during the forecast period. In addition, North America consists of the U.S. and Canada. The U.S. held the largest share of North America's wound dressings market. Well-developed healthcare infrastructure, increasing awareness about the usage of advanced wound care products, and the presence of several key market players are the major drivers of the market. An increasing number of orthopedic procedures due to the high prevalence of sports injuries is also anticipated to drive the market. For instance, according to the CDC, around 51.4 million orthopedic procedures were performed in the U.S. in 2015. Hence, such factors are anticipated to augment the U.S. market growth over the forecast period.

Additionally, Canada is a rapidly developing wound dressing product market because of the rising geriatric population, increasing government funding, and favorable reimbursement policies. In Canada, a significant part of healthcare is publicly funded, leading to healthcare facility advancements. This is expected to propel the market growth in Canada. Moreover, per the Canadian Medical Association 2017 survey, the number of surgeons has rapidly increased in the country. This number of surgical procedures is also expected to rise. These factors are thus anticipated to drive the demand for wound dressing products in Canada over the forecast period.

Europe is estimated to exhibit a CAGR of 4.5% over the forecast period. In Europe, the market for wound dressings is driven by a high disposable income, the prevalence of a well-established healthcare system, and the availability of experienced professionals. Moreover, the prevalence of favorable reimbursement policies has increased surgical procedure adoption. In addition, an aging population and an increase in cases of burns and trauma are expected to propel the market. Consequently, the market for wound dressings in Europe is anticipated to augment significantly over the forecast period. In addition, the U.K. contributes to the largest market share in the European region. The majority of the population in the United Kingdom is covered by free healthcare services provided by national healthcare centers.

In the United Kingdom, the government is the primary client for market participants offering treatment for sports injuries, chronic diseases, and other disorders. Similarly, the government's free healthcare services have led to a high demand for advanced wound care treatments in the United Kingdom. Therefore, the presence of several major market participants and favorable reimbursement policies are estimated to spur market growth over the forecast period.

The Asia-Pacific wound dressings market is expected to grow at the most significant rate during the forecast period. Developing nations such as China, India, and Japan are anticipated to stimulate market development in the Asia-Pacific region. The increase in demand for wound dressing products in this region can also be ascribed to these nations' swiftly expanding medical tourism industry. According to the report on Export Health Services by India's Directorate-General of Commercial Intelligence and Statistics, India had 58,300 medical tourists with medical visas in 2015-2016.

In addition, China dominated the regional market. The regulatory process for product approvals is comparatively less stringent in China, facilitating easy entry of advanced products into the market. In addition, the availability of resources enables technological advancements at cheaper costs, which has led to an increase in the number of manufacturing facilities in the country. Moreover, China has issued Order 650 (formerly Order 276), Rules for the Supervision and Administration of Medical Devices, which aims to protect domestic manufacturers of medical devices by limiting foreign investment in the nation. Hence, the number of local wound dressing manufacturers is anticipated to increase, owing to which the market is expected to grow over the forecast period.

Latin America is anticipated to expand rapidly over the forecast period. The presence of developing economies like Brazil and Mexico is anticipated to propel the Latin American market as a whole. Medical tourism in Latin America is growing in popularity due to the region's refined, low-cost treatment options. Governments of Latin American nations are persistently engaged in enhancing healthcare infrastructure. Thus, these aspects are anticipated to stimulate the growth of the global market over the forecast period.

The Middle East and Africa market is estimated to expand significantly during the forecast period. South Africa, Saudi Arabia, the UAE, and Egypt have the highest development rates in this region. The expansion of the wound dressings market in the Middle East and Africa can be ascribed to an aging population, increased surgical procedures, and increased sports-related injuries. With increasing government initiatives to develop healthcare infrastructure, it is anticipated that the region will experience an increase in surgical procedures, resulting in a rise in demand for wound dressing products for postoperative care.

Segmental Analysis

The global wound dressings market is segmented by product.

Based on product, the global market is bifurcated into advanced and traditional wound dressings. 

The advanced wound dressings segment dominates the global market and is expected to exhibit a CAGR of 5.01% over the forecast period. Advanced wound dressing is primarily used to treat chronic and non-healing wounds. Some advanced wound dressings have antimicrobial agents, such as honey and silver, to rapidly heal and prevent further infections. The limitations of traditional wound dressings have propelled the growth of this market. Moreover, the surging incidence of diabetes is expected to expedite segment growth over the forecast period. For instance, according to the CDC, around 9.40% of the U.S. population of all age groups suffered from diabetes in 2015. The advanced wound dressing market is further segmented into moist, foam, hydrocolloid, film, alginate, hydrogel, collagen, and others.

Moist wound dressings dominate the advanced wound dressings segment. Moist wound dressings help in the rapid healing of wounds. These wound dressings create and maintain a moist environment around the wound, which fosters healing. Moist wound dressings are recommended for chronic wounds such as pressure ulcers, diabetic ulcers, and other slow-healing wounds. In addition, moist wound dressing contains formulations such as collagen, hydrocolloids, hydrogels, foams, and alginates. These formulations rehydrate necrotic tissues and facilitate autolytic debridement, thereby leading to rapid healing of wounds. Major players offering moist wound dressing include Smith & Nephew, Kinetic Concepts, Inc., Coloplast, and PAUL HARTMANN.

Traditional dressings include gauze, bandages, tapes, and cotton. These dressings are dry and do not provide a moist or liquid wound environment. They can be utilized as primary or secondary dressings. Traditional dressings are still most commonly used for managing burn wounds. The combination of gauze and cotton is the most common dressing type, providing high absorption capacity. In addition, traditional wound healing agents comprise topical liquid, semi-solid formulations, and dry traditional dressings. There has been very little advancement in traditional wound dressing procedures compared to advanced wound dressings. As a result, the usage of traditional dressings is decreasing significantly due to the risk of infection and stability issues. Moreover, traditional dressings are generally not preferred for chronic wounds.

The gauze segment held the biggest share in the traditional wound dressing segment. Gauze bandages are versatile, thin, and woven using breathable fabric directly applied to wounds. These bandages help keep wounds clean and allow rapid healing. The increasing incidence of acute and chronic wounds globally is among the prominent aspects driving the segment growth, as gauze bandages are mainly used as the primary dressing for these wounds.

Recent Developments

• June 2023- Swift Medical, a digital health technology firm focused on enhancing clinical and economic outcomes in wound care, announced an alliance with Corstrata, a virtual wound care delivery leader, to increase and broaden access to high-quality wound care.
• April 2023- MariGen® Shield, which integrates the company's proven fish-skin graft with a silicone contact layer for treating chronic and complex lesions, was introduced by Kerecis®. In addition, the medical fish-skin company announced the results of a clinical study comparing the efficacy of Kerecis fish-skin grafts to the standard of care for diabetic foot ulcers.