The global wound dressing market is anticipated to grow at 5.9% CAGR owing to the rising number of road accidents, increasing prevalence of chronic, surgical, and traumatic wounds, increased rate of C-section among elderly women, increased incidences of burn injuries, and technological development in wound dressing.
The COVID-19 pandemic has a moderate impact on the wound dressing market. The reduced number of surgical procedures might have a high impact on the wound closure device market but the chronic wound patient pool will continue to receive the treatment and will contribute a constant stream of revenue for manufacturers.
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Based on the product, advanced wound dressing dominates the market owing to the rising cases of diabetic ulcers, venous ulcers, and pressure ulcers. Advanced wound dressing emphasizes keeping the wound hydrated and allows healing, thereby prescribed by clinicians. Advanced wound dressing is further sub-divided into foams, hydrogels, Hydrofiber, films, collagen, alginates, wound contact layers, hydrocolloids, and super absorbent. There is increased demand for foam dressings and is particularly used to prevent dressing-related trauma, manage to exude wounds, and decrease dressing discomfort and pain. In addition, the rising geriatric population, increased number of surgical procedures and the associated risk of diabetes will propel the growth of the segment during the forecast period.
North America is anticipated to have the largest share in the wound dressing market owing to the rising geriatric population, well-established healthcare infrastructure, rising prevalence of chronic wounds, increased healthcare expenditure, and presence of key players that will fuel the growth of the wound dressing market.
ConvaTec has extended its advanced wound care portfolio and has launched ConvaMax Superabsorber wound dressing that aids in managing extremely exuding wounds, along with leg ulcers, pressure ulcers, diabetic foot ulcers, and dehisced surgical wounds.
The prominent players in the wound dressing industry include Acelity L.P., Inc., Integra Lifesciences Holdings Corporation., Medline Industries, Inc., Smith and Nephew PLC, Mölnlycke Health Care, Medtronic Plc., ConvaTec, Inc., 3M Company, Coloplast Corporation, and Hollister, Inc.
Source: VynZ Research