(PharmaNewsWire.Com, June 29, 2021 ) The Wound Dressings Market is projected to reach USD 11.2 billion by 2025 from USD 7.0 billion in 2020, at a CAGR of 9.7%. The growing prevalence of chronic diseases and conditions affecting wound healing capabilities, increasing spending on surgical and chronic wounds, high rate of cesarean sections in elderly women, growing number of road accidents, and technological advancements in wound dressings are the key factors driving the growth of this market.
Advanced wound dressings segment dominated the wound dressings market in 2019
Based on type, the wound dressings market is segmented into traditional wound dressings and advanced wound dressings. The advanced wound dressings segment accounted for the largest share of this market in 2019, primarily due to an increase in the incidence of diseases such as diabetic ulcers, venous ulcers, and pressure ulcers; increasing number of surgical procedures; growing patient awareness; and increasing incidences of burn injuries.
Hospitals, ASCs, and clinics segment to register the highest growth in the wound dressings market, by end user
Based on end users, the wound dressings market is segmented into hospitals, ASCs, and clinics; home care settings; and other end users. The hospitals, ASCs, and clinics segment accounted for the largest share of the wound dressings market in 2019. The large share of this segment can be attributed to the rising geriatric population and the subsequent increase in the prevalence of age-related conditions and a large number of treatment procedures carried out in hospitals.
North America is the largest regional market for wound dressings
Based on region, the wound dressings market is segmented into North America, Europe, the Asia Pacific (APAC), Latin America (LATAM), and the Middle East & Africa (MEA). In 2019, North America accounted for the largest share of the wound dressings market. This can be attributed to the increasing demand for advanced wound treatment options like advanced wound dressings, increasing incidence of chronic wounds, rising healthcare expenditure, and the presence of a large number of wound care companies in this region.
Prominent players operating in the global wound dressings market include 3M (US), Smith & Nephew (UK), Cardinal Health (US), ConvaTec Group plc (UK), Coloplast A/S (Denmark), Mölnlycke Health Care AB (Sweden), Integra LifeSciences Holdings Corporation (US), B. Braun Melsungen AG (Germany), and Medline Industries, Inc. (US).
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