Wound Dressing Market size was valued at USD 7.5 billion in 2022, growing at a CAGR of 9.6% during the forecast period 2023-29. Chronic wounds cause issues such as infection, ulceration, and insufficient blood supply, lengthening the time it takes for the wound to heal. Venous ulcers, diabetic foot ulcers, and pressure ulcers are the most frequent chronic sores. In recent years, wound dressing solutions and adequate care to address the underlying issue have gained popularity. The wound is a disruption of skin epithelial lining or mucosa which results in thermal or physical damage. Depending upon the healing nature and duration, a wound is classified into two types that is chronic wounds and acute wounds.Â Wounds can be caused because of the incisions made in the body during surgeries. A wound dressing is treating the wounds by both external and internal surgical procedures. Traditional wound dressings are used to treat acute wounds while advanced wound dressings are used to treat chronic wounds. Global Wound Dressing Market is one of the most promising markets in the medical field. Major players in global Wound Dressing market are adopting various growth strategies such as collaborations and partnerships, acquisitions and mergers, product launches and investments on R&D activities.
Wound Dressing Market Key Developments:
In May 2013, TriStar Wellness Solutions, Inc. a health and wellness company signed the 3-year exclusive licensing agreement with Polytherapeutics, Inc. for its Pharma drug delivery technology, for OTC products focused on the treatment of specific skin conditions and wound care applications.
In April 14, 2016, Integra Life Sciences Holdings Corporation and Vomaris Wound Care, Inc. entered into an agreement for marketing advanced wound care products.
Fastest Growing Market
The wound dressing market is majorly driven by advancements in the technologies and problems that are associated with traditional wound healing methods. Furthermore, increase in ageing of the population, government initiatives, and dire need of rapid and safe treatment for chronic wounds are also propelling the growth of the global Wound Dressing Market. A rise in prevalence of lifestyle disorders leads to chronic wounds like venous leg ulcer, pressure ulcer, diabetic foot ulcer is also booming the growth of wound dressing market globally. As per to the report of American Diabetes Association, In US about 1% to 4% of diabetic patients are affected by diabetic foot ulcers every year and as per to the Diabetes UK report 2015, a Prevalence rate of diabetic foot ulcers is about 2.5% of 86,000 people in the UK. However, high cost associated with the treatment, lack of awareness and reimbursement issues of new technologies are the few factors which are restraining the growth of the global wound dressing market.
2022 is the base year and 2029 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
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