Market Size of Global Wound Dressings Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 5.05 Billion |
| Market Size (2029) | USD 6.02 Billion |
| CAGR (2024 - 2029) | 3.61 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Wound Dressing Market Analysis
The Global Wound Dressings Market size is estimated at USD 5.05 billion in 2024, and is expected to reach USD 6.02 billion by 2029, growing at a CAGR of 3.61% during the forecast period (2024-2029).
COVID-19 had a significant impact on the overall healthcare industry. Road accidents and transportation injuries are responsible for most of the wounds. This served as the market's primary growth factor. There were far fewer accidents and injuries because of the global lockdown imposed during the early stages of the epidemic and the cancellation of public transportation. As per the article published in 2021 under the title 'The impact of the SARS-CoV-2 pandemic on the management of chronic limb-threatening ischemia and wound care', except in critical cases like chronic limb-threatening ischemia, there has been a paradigm change in wound care toward hybrid telemedicine and home healthcare approach to keep patients at home and decrease the amount of in-person clinic visits and hospitalizations. Hence, the factors mentioned above showed that COVID-19 had a notable impact on the wound dressings market.
The major factors for the growth of the wound dressings market include the rising incidences of chronic wounds, diabetic ulcers, and an increase in the volume of surgical procedures worldwide. For instance, as per the 2022 update from the International Diabetic Federation (IDF), approximately 537 million adults (20-79 years) are living with diabetes. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. Moreover, as per the IDF 2021 report, diabetic foot ulcers were affected by 40 to 60 million people globally. As a result, the market is likely to grow due to the increased prevalence of diabetic foot ulcers.
Chronic wounds lead to complications, such as infection, ulceration, and insufficient blood supply, thus, increasing the wound healing period. The most common chronic wounds include venous ulcers, diabetic foot ulcers, and pressure ulcers. Furthermore, government initiatives, awareness programs, and product launches boost market growth. For instance, Wounds Australia developed the Wound Awareness Week (WAW21) campaign in 2021 for the purpose of educating people regarding chronic wound complications and raising awareness of risks, warning signs, and treatments. In 2022 the campaign focused on the solutions needed to drive national change for those living with wounds.
As per the factors mentioned above, the wound dressings market is anticipated to witness growth over the forecast period. However high cost and lack of awareness about advanced wound dressing products restrain the market growth.
Wound Dressing Industry Segmentation
As per the scope of this report, wound dressings are used to provide a therapeutic effect, which supports wound healing. Wound dressing products are used for minor injuries, as well as to treat serious problems, such as chronic and complex wounds, like burns. The Wound Dressings Market is segmented by Type (Advanced Wound Dressing and Traditional Wound Dressing), Application (Surgical Wounds, Diabetic Foot Ulcers and Others, Burns, Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
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Global Wound Dressings Market Size Summary
The wound dressings market is poised for growth, driven by an increase in chronic wounds, diabetic ulcers, and surgical procedures globally. The market's expansion is influenced by the rising prevalence of diabetes, which significantly contributes to the incidence of diabetic foot ulcers. The COVID-19 pandemic has also reshaped the market dynamics, with a shift towards hybrid telemedicine and home healthcare approaches, reducing the need for in-person visits. This shift, along with government initiatives and awareness programs, has bolstered the demand for advanced wound dressings, which are essential for promoting healing by maintaining wound hydration. Despite challenges such as high costs and limited awareness of advanced products, the market is supported by a diverse range of offerings and ongoing research and development activities.
North America holds a significant share of the wound dressings market, attributed to its robust healthcare infrastructure and a high number of surgical procedures. The region's growing diabetic population, particularly in the United States, is expected to drive the demand for wound care solutions. The market is moderately consolidated, with key players focusing on innovation and strategic partnerships to enhance their product portfolios. Notable developments include the acquisition of Triad Life Sciences Inc. by Convatec Group and the partnership between Cork Medical and MedTech Solutions Group. These strategic moves, along with the introduction of advanced products like MolecuLight's imaging device, are anticipated to propel market growth in the coming years.
Global Wound Dressings Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Incidences of Chronic Wounds, Ulcers and Diabetic Ulcers
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1.2.2 Increase in Volume of Surgical Procedures Worldwide
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1.3 Market Restraints
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1.3.1 High Cost and Lack of Awareness about Advanced Wound Dressing Products
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Advanced Wound Dressing
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2.1.1.1 Foams
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2.1.1.2 Hydrocolloids
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2.1.1.3 Films
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2.1.1.4 Alginates
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2.1.1.5 Hydrogels
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2.1.1.6 Other Advanced Wound Dressing
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2.1.2 Traditional Wound Dressing
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2.1.2.1 Bandages
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2.1.2.2 Gauzes
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2.1.2.3 Sponges
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2.1.2.4 Abdominal pads
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2.1.2.5 Other Traditional Wound Dressing
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2.2 By Application
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2.2.1 Surgical Wounds
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2.2.2 Diabetic Foot Ulcers and Others
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2.2.3 Burns
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2.2.4 Other Applications
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Wound Dressings Market Size FAQs
How big is the Global Wound Dressings Market?
The Global Wound Dressings Market size is expected to reach USD 5.05 billion in 2024 and grow at a CAGR of 3.61% to reach USD 6.02 billion by 2029.
What is the current Global Wound Dressings Market size?
In 2024, the Global Wound Dressings Market size is expected to reach USD 5.05 billion.
