The global Advanced Wound Dressing Products Industry was valued at USD 7,442.0 million in 2022 and is anticipated to increase at a significant CAGR of 4.46% from 2023 to 2030.
Grand View Research’s advanced wound dressing products industry databook is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Foam Dressings Market Insights
The global foam dressing market size was valued at USD 1.76 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 4.7% from 2023 to 2030. The demand for foam dressing products is increasing owing to increasing burn cases, various ulcers, open wounds, and rising surgical cases across the globe. Furthermore, diabetes is expected to be a major factor causing wounds. Thus, a rise in the number of people suffering from diabetes is anticipated to drive the market. For instance, International Diabetes Federation projected the number of diabetic patients to be 61 million in 2021.
Furthermore, the rise in the number of traumatic injuries and burn cases across the globe is expected to propel market growth. For instance, as per National Institute for Health and Care Excellence, in the U.K., an estimated 250,000 people are treated with burn injuries every year. Similarly, according to the National Program for the prevention of burn injuries and NCBI, the annual incidence rate of burns in India is estimated to be around 6 - 7 million every year. Moreover, there have been cases of traumatic wounds such as abrasion, laceration, and gunshot, which require foam dressing. For instance, as per NCBI, 6 million lacerations are treated in the U.S. yearly. Thus, propelling market growth over the forecast duration.
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Hydrocolloid Dressings Market Insights
The global hydrocolloid dressing market size was valued at USD 1.38 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 5.01% from 2023 to 2030. The market is primarily driven by the rising prevalence of chronic and acute wounds. For instance, according to recent estimates published in NCBI (2017), chronic wounds impact around 5.7 million people in the U.S. Similarly, the Independent Diabetes Trust in the U.K. claimed in its report (2019) that each year, around 115,000 people get diabetic foot ulcers, while 278,000 people are treated for venous leg ulcers. Moreover, the increased prevalence of severe burn injuries will boost the market growth. According to ebmedicine.net, about 265,000 individuals worldwide die as a result of thermal burns.
Recent hydrocolloid advancements, particularly the use of additives, have significantly enhanced patient care. Manufacturers of hydrocolloid PSA are now able to produce dressings with extended wear periods owing to next-generation extrusion technology. Modern hydrocolloid extruders produce materials more effectively, more consistently, and with less waste. Another breakthrough in the hydrocolloid family is the development of hybrid materials that combine hydrocolloid and acrylic PSA. One such advancement is Avery Dennison Medical’s proprietary Thin Absorbent Skin Adhesive (TASA).
This adhesive can be applied to a variety of carrier materials, such as polyurethane films and nonwovens. TASA is 0.1 mm thick, whereas standard hydrocolloid adhesives are generally 0.3-1.0 mm thick. It also promotes breathability and absorbency. These superior fluid-handling capabilities allow for wear durations of up to seven days. Thereby, such advances and developments have opened many new possibilities for an enhanced patient experience, driving themarket. Furthermore, there are several advantages of using a hydrocolloid dressing for advanced wound care, including high durability, faster healing, reduced pain, lower risk of infection, and adherence only to surrounding skin.
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Advanced Wound Dressing Products Industry Data Book Competitive Landscape
The market is highly fragmented in nature with the presence of several small and large manufacturers. Competitive rivalry and degree of competition in the wound market is expected to intensify over the forecast period due to the presence of many players in the market. Furthermore, leading players are involved in collaborations, product launches, mergers and acquisitions to strengthen their product portfolios.
Key players operating in the Advanced Wound Dressing Products Industry are:
- Smith & Nephew
- Molnlycke Health Care AB
- ConvaTec Group PLC
- Baxter International
- URGO Medical
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