Wound Dressing Market Size, Share & Trends Analysis Report By Product [Traditional, Advanced (Moist, Antimicrobial, Interactive)], By Region, Competitive Landscape, And Segment Forecasts, 2012 - 2022

Industry Insights

The global wound dressing market size was valued at USD 9.16 billion in 2014 and is expected to grow at a CAGR of 4.4% over the forecast period. Wound infection is a major safety concern for patients as well as for healthcare professionals globally, thus wound care is essential to reduce infections and promote well-being of patients. Rising incidence of diseases such as pressure ulcers, diabetic ulcers and venous stasis ulcers is likely to result in a growth in demand for advanced wound care products for treating these conditions. Wound dressing helps to improve the overall well-being of patients affected from the aforementioned disorders.

Additionally, as per the WHO, burns result in around 180 000 deaths each year. The major incidence of these injuries occur in low and middle income countries, thus the rise in the awareness and income of these countries is expected to positively impact the market growth over the forecast period.

According to estimates published by the WHO, the global base of population pertaining to the age group 60 years and above is expected to rise by 841 million in 2014 to reach 2 billion in 2050. The people of this age group are expected to experience a growth in the prevalence of chronic wounds such as venous stasis ulcers and pressure ulcers. Moreover, the skin of older people is easily damaged, their cells do not multiply quickly and might not have required response to stress in terms of gene upregulation of stress related protein. Therefore, this population is highly susceptible to injuries and wounds, which may in turn may drive market growth.Rise in awareness among the patients towards personal hygiene is also propelling the demand for wound care management. Patients are now more aware of their health issues and are actively seeking physician’s advice at an early stage. Moreover, growth in per capita healthcare expenditure in the recent years and the growth in disposable income of people are encouraging people to spend substantial amount on healthcare, thereby boosting the market growth.

The various advancements in wound dressing applications is also a major contributor towards the overall growth of the market. The developments in wound dressings have led to a shift from simple dressings to advanced products and devices that incorporate pharmaceutically active ingredients. Wound dressings have been developed to such an extent that they now maintain a moist wound environment while actively promoting wound healing. For instance, the launch of keratin based wound care products that are used along with the dressings and are helpful in wound re-epithelialization. Furthermore, launch of novel therapies such as electromagnetic therapy, electrical stimulation, nanotechnology and the use of silver and other combination bandages are enhancing the entire market. These advancements render better relief to patients during any trauma treatment and are high impact rendering drivers for the overall market.

Additionally, the entry of multinational healthcare establishments promoting safe and effective medical practices also has a positive impact on market growth, especially in countries such as India and China.

Product Insights

Key wound dressing product segments include traditional products and advanced products. Advanced product segment that comprises moist, antimicrobial and active products dominated the overall industry, commanding over 56.1% revenue share in 2014. Advanced wound care therapy is indispensable for treatment of chronic and non-healing wounds. The dominance of this segment can be attributed to high usage and improved utility of products.

Within the advanced product segment, the Moist wound care commanded a dominant revenue share. These wound dressing create and maintain wet environment around the wound which fosters healing. Since it shows significantly faster healing hence these wound dressings are recommended for chronic wounds like pressure ulcers, diabetic ulcers, burn injuries and other slow healing wounds.

Furthermore, alginate dressings amongst moist wound products are expected to gain substantial revenue shares owing to their high utility in exuding wounds since they possess great absorbance capacity, which helps lesions remain clean and dry. Additionally, owing to their gel forming ability, they are preferred for bleeding wounds and helps in reducing the pain.

Antimicrobial products which consist of silver and non-silver dressing products are expected to exhibit lucrative growth over the forecast period. These products have broad action and can be highly effective in killing microorganisms. Recent advances in antiseptic technology have led to the development of a number of products that are less harmful to healthy tissue, while being highly effective in destroying pathogens. Owing to their benefits which include ease of use, and wide availability of products; these products are widely adopted. Moreover, antimicrobial dressings have increased the healing rate thereby, reducing the ambulation time.

Regional Insights

The North American wound dressing market commanded a dominant share in 2014, with over 35.1% of the revenue share, owing to the presence of a large geriatric population base, and increased patient awareness levels. Increasing prevalence of chronic wounds such as diabetic foot ulcer, pressure ulcers and venous ulcers in this region also contributes to overall market growth.

As per CDC estimates, around 2.5 million patients suffer from pressure ulcers annually in the U.S. Besides, easy product availability owing to the presence of prominent manufacturing facilities and wide distribution channels in this region also favors market growth. The advent of novel and advanced technologies such as launch of advanced wound care products promoting a moist environment and Negative Pressure Wound Therapy (NPWT) equipping clinicians with the ability to heal wounds faster in this market also contributes to the large market size.

Asia Pacific wound dressings market is expected to grow lucratively owing to the availability of immense opportunities in this region especially in India and China. The presences of large population coupled with increasing patient awareness levels and rising disposable incomes are the major drivers for this region. Presences of large population base suffering from diabetes are also expected to be a high impact rendering driver of this region.

Wound Dressing Market Share Insights

Key players of the wound dressing market include 3M Healthcare, ColoPlast, Medline Industries, HARTMANN, BSN Medical, Medtronic Plc, Smith & Nephew, ConvaTec, Derma Sciences and Systagenix.

The market is highly competitive and dynamic in nature with several big players competing to gain revenue share in the market. The increase in demand for branded and high quality products in the market also favors the companies operating in this market. These companies are involved in strategic initiatives such as mergers & acquisitions and new product launches to gain and maintain a competitive edge in the market.

For instance, in November 2014, BSN Medical acquired Sorbion, a privately held company focused on development of wound dressings. This acquisition has helped BSN Medical to broaden their product portfolio in the wound care market.   Similarly, in March 2015, 3M Healthcare completed the acquisition of Ivera medical corp. a manufacturer of healthcare product and devices, to enrich their wound care product portfolio.

Additionally, in July 2012, HARTMANN launched Sorbalgon Ag, a silver containing calcium alginate dressing which gives optimal wound management along with antibacterial effect, this new launch helped company to broaden the product offering in wound dressing domain.

These strategies enabled the key market players to strengthen their product portfolios and increase their outreach in the market.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research, Inc. has segmented the global wound dressing market report on the basis of product and region:

• Product Outlook (Revenue, USD Million, 2014 - 2025)

  • Traditional

  • Advanced

    • Moist

    • Foam

    • Alginate

    • Film

    • Hydrocolloid

    • Hydrogel

  • Antimicrobial

    • Silver

    • Non - Silver

  • Interactive

    • Biomaterials

    • Skin - Substitute

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

  • Europe

  • Asia Pacific

  • Rest of the World