The Interactive Wound Dressing Market Size is valued at 4.25 billion in 2022 and is predicted to reach 6.28 billion by the year 2031 at a 4.58% CAGR during the forecast period for 2023-2031.
The market for wound dressings is anticipated to be driven by an increase in traumatic accidents around the world, an upsurge in the number of geriatric people, and an increase in the incidence of various wounds, such as pressure ulcers and surgical site wounds. Globally, the prevalence of chronic lesions such as diabetic foot ulcers and venous leg ulcers is rising. For instance, the NCBI estimates that approximately 6.5 million Americans suffer from mixed chronic wounds.
Additionally, it is anticipated that the growing diabetic population will fuel the market for wound dressings. For example, according to the CDC, 34.2 million Americans, or roughly 10.5% of the country's entire population, were diagnosed with diabetes in 2018. Additionally, according to diabeticfootonline.com, up to 34% of diabetics are at risk of having a diabetic foot ulcer. So, because of the causes, it is anticipated that the demand for wound dressing will increase, contributing to the expansion of the wound dressing market.
Additionally, older people are more prone to wounds. Hence an increase in the elderly population is anticipated to enhance the wound dressing industry. Technology developments have resulted in the innovation of wound dressings that can track the healing process and give healthcare workers real-time feedback. Traumatic burns are also having an impact on the development of this industry.
Key Developments:
- In June 2022, 510(k) clearance was granted for a new fibrillar collagen wound dressing by Collagen Matrix, Inc., a global producer of medical devices made from collagen and other biomaterials.
- In June 2022, Smith & Nephew opened its newest research and development and manufacturing centre to enhance advanced wound management. The investment is $100 million USD in value, and UK government funding is also probably going to support the development. In its first ten years of operation, the new plant is anticipated to support more than USD 10 billion in sales.
Competitive Landscape:
Some of the Interactive Wound Dressing market players are:
- Braun SE
- 3M
- Cardinal Health Inc.
- Smith & Nephew
- Coloplast
- Mölnlycke Health Care AB.
- ConvaTec Group PLC
- McKesson Corporation
- Medline Industries
- PAUL HARTMANN AG
- MediWound
Market Segmentation:
The Interactive Wound Dressing market is segmented on the basis of product outlook, application outlook, and end-use outlook. Product segment includes semi-permeable films dressing, semi-permeable foam dressing, and hydrogel dressing. The application segment includes chronic wounds, diabetic foot ulcers, pressure ulcers, venous leg ulcers, other chronic wounds, acute wounds, surgery & trauma, and burn injuries.End-use segment include hospitals, outpatient facilities, home care, and research & manufacturing.
Based On The Application Outlook, The Chronic Wounds Segment Is Accounted As A Major Contributor In The Interactive Wound Dressing Market
In 2022, chronic wounds represented substantial share of total revenue. This is explained by a number of variables, including the rising incidence of diabetes, ageing populations, and lifestyle changes that have increased the risk factors for foot ulcers. The underlying causes of these wounds frequently include venous insufficiency, diabetes, and peripheral artery disease. According to estimates from the Australian Medical Association, chronic wounds impact 450 million people worldwide and are a serious health problem.
The Semi-Permeable Film Dressings Segment Witnessed Growth At A Rapid Rate
Semi-permeable film dressings had a considerable revenue share in 2022 and are anticipated to expand at the fastest rate over the forecast period. The rise in chronic wound prevalence explains this. The CDC estimates that 2.5 million Americans have chronic venous insufficiency, which results in venous leg ulcers and hence drives demand for the sector.
In The Region, The North America Interactive Wound Dressing Market Holds A Significant Revenue Share
In 2022, North America had a significant share of worldwide revenue, dominating the market. The region has a high frequency of chronic injuries, such as venous leg ulcers and diabetic foot ulcers, which has led to a demand for efficient wound treatment options. Elderly people are more viable to develop chronic wounds, which is predicted to increase demand for cutting-edge wound care solutions like interactive wound dressings. Additionally, the region's increasingly ageing population has increased the prevalence of chronic diseases and injuries, increasing the market for wound care products like interactive wound dressings.
Interactive Wound Dressing Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 4.25 Bn |
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Revenue forecast in 2031 |
USD 6.28 Bn |
|
Growth rate CAGR |
CAGR of 4.58 % from 2023 to 2031 |
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Quantitative units |
Representation of revenue in US$ Billion and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Product, Application, and End-use |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
B. Braun SE; 3M; Cardinal Health, Inc.; Smith & Nephew; Coloplast; Mölnlycke Health Care AB.; ConvaTec Group PLC; McKesson Corporation; Medline Industries; PAUL HARTMANN AG; MediWound. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
