Wound Dressing Market Size, Share & Trends Report

Wound Dressing Market Size, Share & Trends Analysis Report By Product (Traditional Dressing, Advanced Dressing), By Application (Chronic Wounds, Acute Wounds), By End-use, By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: 978-1-68038-558-8
  • Number of Pages: 140
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2023
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the wound dressings market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for wound dressings market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of wound dressings market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Wound Dressings Market Categorization:

The wound dressings market was categorized into four segments, namely product (Traditional Dressing,Advanced Dressing,), application (Chronic Wounds, Acute Wounds), end-use (Hospitals, Outpatient Facilities, Home Healthcare, Research & Manufacturing), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The wound dressings market was segmented into product, application, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The wound dressings market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; UK; Germany; France; Italy; Spain; Denmark; Sweden; Norway; Japan; China; India; Australia; Thailand; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Wound dressings market companies & financials:

The wound dressings market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Coloplast Corp. - Coloplast Corp. is a Danish manufacturing and marketing company. It has a distribution network spread across 53 countries. Its product range includes ostomy, urology, continence, wound care, and skin care verticals. The company primarily supplies its products to hospitals, pharmacies, wholesalers, and institutions.
  • 3M - 3M is a conglomerate company with operations in over 65 countries. Its products are available in more than 70 countries. It is a diversified technology company and its product portfolio includes industrial, safety & graphics, healthcare, electronics & energy, and consumer products. Its healthcare segment includes medical and surgical care. It is a supplier of medical tapes and dressings, wound closure products, orthopedic casing materials, stethoscopes, and electrodes.
  • MEDLINE INDUSTRIES, INC. - Medline Industries, Inc. manufactures and distributes high-end medical supplies. It comprises 1,200 direct sales representatives and operates in more than 90 countries. It operates through four business segments: medical equipment, specialty products, product services, and consumer brands.
  • MEDTRONIC - Medtronic is a global health solutions company with a global market reach. The company operates in the verticals of cardiac & vascular, minimally invasive therapies, restorative therapies, wound care management, and diabetes care. Medtronic acquired Covidien in 2014. Covidien has an extensive product range for advanced wound care. This product range includes antimicrobial dressings, form dressings, alginate dressings, island dressings, and transparent film dressings.
  • SMITH & NEPHEW PLC - Smith & Nephew PLC is a medical device manufacturing company with a presence in over 100 countries. It is dedicated to developing innovative products in order to deliver advanced medical products and services. Most of its innovative wound care products are manufactured at the Hull manufacturing plant. The company offers nine global product franchises, including hip implants, sports medicine joint repair, and knee implants, arthroscopic enabling technologies, other surgical businesses, and advanced wound bioactive, advanced wound care, and advanced wound devices.
  • CONVATEC GROUP PLC - ConvaTec Group PLC is a global medical products company. Its product portfolio includes ostomy care, continence care, critical care, wound therapeutics, and infusion devices. It has manufacturing sites in 8 countries and a distribution network that spans across over 100 countries. Its major segments in wound therapy include acute or chronic wound management, traumatic wounds, burns, postop, diabetes, and venous diseases.
  • DERMA SCIENCES INC. (INTEGRA LIFESCIENCES) - Integra LifeSciences is the parent organization of Derma Sciences Inc., which is a tissue regeneration company that deals with research and innovation related to chronic & acute wound care management and burns. Integra provides wound management products for venous leg ulcers, pressure ulcers & burns, and diabetic foot ulcers. It adopts various technologies in wound management and wound closure products, such as XTRASORB, BIOGUARD, TCC-EZ, ALGICELL AG, MEDIHONEY, AMNIOMATRIX, and AMNIOEXCEL.
  • ACELITY (KCI LICENSING, INC.) - Acelity is a private company with three major, wholly owned subsidiaries: Kinetic Concepts, Inc., LifeCell Corporation, and Systagenix Wound Management, Limited. Its product range includes clinical solutions for wound management, open abdomen management, epidermal harvesting, incision management, and animal health. It markets wound care related products under wound management segment, which, includes pressure ulcers, venous leg ulcers, acute & traumatic wounds, infected wounds, and enteric fistulas. The company aims at delivering innovative and cost-effective products to its customers.
  • PAUL HARTMANN AG - PAUL HARTMANN AG is a manufacturer and distributor of medical and hygiene products. It has offices in more than 35 countries and sells its products in around 100 countries through a channel of distributors. The company’s areas of expertise include disinfection, incontinence management, personal healthcare, risk prevention and wound management. Disinfection products of the company include hand, surface, & instrument disinfection and cleaning products as well as skin antiseptics.
  • BSN medical - BSN medical is a subsidiary of Essity Aktiebolag, which offers products for orthopedics, wound care, and compression therapy. The company has a broad portfolio of products for noninvasive orthopedics, lymphology, and wound care & related vascular diseases. Some of the well-known brands offered by the company are Actimove, Delta-Cast, JOBST, Leukoplast, and Cutimed.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Wound Dressings Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 - 2023, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Wound Dressings Market Report Assumptions:

  • The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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