The global wound dressing market was valued at $9,989.6 million in 2015, and it is expected to grow at a CAGR of 6.9% during the period 2016 – 2022. The wound dressing market is growing due to increasing chronic wounds and increasing awareness about wound dressing products. Increasing cases of diabetes leading to pressure ulcers is further generating an increased demand for ound dressings.
Based on wound dressing type, the advanced wound dressing segment is expected to witness faster growth during the forecast period. Among the various applications, the surgical wounds segment accounted for the largest share in the global market in 2015; and it is expected to witness growth at 7.3% CAGR during 2016 – 2022.
In 2015, North America held the largest share in the global wound dressing market whereas, Asia-Pacific market is expected to witness fastest growth, with a CAGR of 7.5% during the period 2016– 2022.
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Traditional wound dressings are generally used to treat acute wounds by promoting the wound healing process. They help absorbing exudates, inhibiting infection, preventing bleeding and drying of wounds. Proper care of acute wounds prevents the formation of chronic wounds by utilizing traditional wound care products. Traditional wound dressings include abdominal pads, conforming bandage, gauges and sponges. They are made up of different raw-materials, such as cotton, polyester and rayon. In addition, traditional wound dressings are also available as woven and non-woven dressing material.
Advanced wound dressing is used to treat chronic wounds, which fail to heal properly in timely manner. Advanced wound dressings include foam dressings, hydrocolloid dressings, film dressings, alginate dressings, hydrogel dressings, collagen dressings and others. The other advanced wound dressing consists of chitosan, elastin and hyaluronic acid for the treatment of chronic wounds.
However, high cost associated with the usage of advance wound dressings is the key restraint in the growth of wound dressing market worldwide. The high cost of advanced wound dressing, such as foams, hydrocolloids, film, alginate, hydrogel and collagen, limits the affordability of the users. As a result, consumption of advanced wound dressing decreases despite higher therapeutic efficiency, hampering the growth of global wound dressing market.
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Some of the key companies operating in the global wound dressing market include 3M Company, Smith and Nephew plc, Medtronic plc, Johnson and Johnson, Molyncke Health Care, DermaRite Industries LLC., Derma Sciences Inc., Hollister Incorporated, ConvaTec and DeRoyal Industries Inc.
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