Wound Dressing Market to Generate $16,751.6 Million Revenue by 2030

The wound dressing market size is expected to advance at a CAGR of 6.1% during 2022–2030, to reach $16,751.6 million by 2030.

The increasing incidence of severe accidents globally is driving the demand of injury dressings. For instance, the WHO estimates that accidents from vehicles result in between 20 and 50 million non-fatal injuries and roughly 1.2 million fatalities every year. Also, the Economic Times reports that there were more than 554,700 road accident happen in India in 2020. These accidents frequently result in severe bleeding and other injuries, necessitating emergency medical attention.

As a result, the increase in the number of accidents is likely to increase the need for wound dressing products, which is predicted to propel the wound dressing market during the forecast period.

Adoption of Smart Bandages for Wound Management

Adoption of smart bandages for curing wounds is rising globally. Designed by the researchers of the University of Nebraska-Lincoln, Harvard Medical School and Massachusetts Institute of Technology (MIT), this smart bandage is capable to cure chronic wounds/injuries. Globally, these bandages are being increasingly adopted for curing wounds, due to their capability to release dose-dependent drugs, and multiple drugs at a time; which can accelerate the healing process.

These bandages stimulate faster healing of bullet wound or prevent the onset of infection in remote environments. Moreover, these are integrated with microprocessor, which trigger the release of drug by sending current through the heating elements. With specification of alarm, pH and temperature sensor, these bandages are becoming popular in the market. In addition, these are also used for the management of diabetic foot ulcers. Thus, the rising adoption of these bandages due to varied advantages is a notable trend observed in the global wound dressing market.

Germany Held Largest Share in the European Wound Dressing Market

Germany held the largest share in the European wound dressing market, accounting for around 25% in 2022. The wound dressing market in Europe is expected to witness significant growth due to growing aging population, increasing number of diabetes cases, and rising obesity levels in the region. According to the 2018 Aging Report, published by the European Commission, 25% of the total European population was aged 65 years. It is further expected that 51.2% of the total European population will be above 65 years by 2070.

Furthermore, according to the estimates of Public Health England, approximately 26% of adults were either overweight or obese in 2021 in England; while 50% of adult women and 60% of adult men will be affected with obesity by 2050. Thus, increasing number of obese people in the region is expected to lead to an increase in the incidence of wound conditions, including pressure ulcers, that require various types of wound dressing products.

Advanced Dressing Category To Dominate Market

The increase in obesity and venous leg ulcer incidence is attributed for the market's expansion. For instance, compared to 2015–2016, India now has a much higher prevalence of obesity. Since obese persons are more prone to developing venous leg ulcers, thus rising obesity rates will support the dominance of advanced dressing throughout the forecast period.

Over the projection period, the traditional dressing category will grow significantly. Since burn cases are often treated with traditional dressings, the market for traditional dressings demand will grow as more burn cases are reported. For instance, the WHO estimates that burns cause around 265,000 fatalities on an average every year. Additionally, every year in India, approximately 1,000,000 people suffer mild to severe burns. Similar to this, according to the CDC, roughly 4,500 burn patients and 10,000 people in the U.S. die each year from diseases associated to burns, thus drives the segment growth in the market.

The most-significant wound dressing market players are Hollister Incorporated, DeRoyal Industries Inc., DermaRite Industries LLC, ConvaTec Group plc, Johnson & Johnson, Smith & Nephew plc, Mölnlycke Health Care AB, Medtronic plc, 3M Company, and Integra LifeSciences Holdings Corporation.