Advanced Wound Dressing Market to Witness a Pronounce Growth During 2021 – 2028: Grand View Research Inc.
Advanced Wound Dressing Market Growth & Trends
The global advanced wound dressing market size is expected to reach USD 9.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.5% from 2021 to 2028. An increasing number of accidents, the impact of COVID-19, and technological advancements are the key driving factors for the market. The increasing incidence of accidents such as road accidents, burns, and trauma events across the globe is anticipated to drive the market. For instance, as per the WHO (2018), around 1,000,000 people are severely or moderately burnt in India per year. In addition, as per NCBI, in 2017, countries such as Bulgaria, Finland, the Netherlands, China, Australia, and the U.K. reported a rise in the incidence of burn injuries.
Furthermore, as per the American Association for the Surgery of Trauma, in 2017, around 1.2 million people died globally, accounting for the deaths of around 3,242 people per day in road accidents every year. Road accidents mostly occur in middle- or low-income countries. The advanced wound dressing is majorly used for the faster healing of all kinds of burns injuries. Moreover, bandages and gauzes are also used for the treatment of minor injuries. Thus, the rising number of accidents is expected to boost the demand for advanced wound dressing, which is expected to lead to considerable market growth over the forecast period.
The rising number of surgical procedures is also expected to boost the demand for home healthcare services. According to the American Society for Metabolic and Bariatric Surgery (ASMB) in 2018, the number of people underwent sleeve gastrectomy increased by 8.05% from 2016 to 2017 in the U.S. Patients undergoing surgeries are required to stay at hospitals for a longer period of time; thus, most patients prefer home healthcare services over hospital stays. Therefore, these factors are likely to boost the demand for home healthcare services, thereby fueling market growth during the forecast period.
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Advanced Wound Dressing Market Report Highlights
- In terms of revenue, the foam dressings segment held the largest revenue share in 2020. The rising number of road accidents across the globe is the major factor propelling segment growth
- The acute wounds segment held the largest revenue share in 2020 and is expected to witness the fastest growth rate over the forecast period due to the increasing number of surgeries
- The hospitals’ segment held the largest revenue share in 2020. The growth of the segment is majorly driven by the increasing number of hospitals
- In Asia Pacific, the market is expected to witness the fastest growth rate over the forecast period owing to the rising prevalence of chronic injuries
Advanced Wound Dressing Market Segmentation
Grand View Research has segmented the advanced wound dressing market on the basis of product, application, end-use, and region:
Advanced Wound Dressing Product Outlook (Revenue, USD Million, 2016 – 2028)
- Other Advanced Dressings
Advanced Wound Dressing Application Outlook (Revenue, USD Million, 2016 – 2028)
- Chronic Wounds
- Diabetic Foot Ulcers
- Pressure Ulcers
- Venous Leg Ulcers
- Acute Wounds
- Surgical & Traumatic
Advanced Wound Dressing End-use Outlook (Revenue, USD Million, 2016 – 2028)
- Specialty Clinics
- Home Healthcare
Advanced Wound Dressing Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- Latin America
- South Africa
- Saudi Arabia
List of Key Players of Advanced Wound Dressing Market
- MÖLNLYCKE HEALTH CARE AB
- CONVATEC GROUP PLC
- COLOPLAST CORP.
- DERMA SCIENCES INC.
- MEDLINE INDUSTRIES, INC.
- SMITH & NEPHEW PLC
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.