The landscape of wound treatment is evolving rapidly, thanks to advancements in the healthcare industry. This progress has fueled the growth of the Advanced Wound Dressing Market, which is projected to reach a significant valuation of USD 8,374.50 million by 2034.
A Steady Climb:
As of 2024, the market sits at a substantial USD 6,353.7 million, with a projected Compound Annual Growth Rate (CAGR) of 2.80%. This steady increase reflects the growing acceptance and utilization of advanced wound dressings by healthcare professionals.
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Biomedical wound dressings, the new talk of the medicare-town, is also bridging the gap between sustainability and effective wound care management. Even in the regions, where healthcare facilities are up to the mark, the market is growing at a steady rate due to people’s reliance on advanced wound dressings for self-care and home remedies. All these factors are set to expand the advanced wound dressing market at a steady CAGR of 2.80% through 2034.
“Healthcare institutions like hospitals, ambulatory surgical centers, and emergency hospitals, are forever looking for wound dressings that are not only 100% effective but also cause minimal harm to the environment. This presents a huge opportunity for manufacturers to curate products that are biodegradable and environmentally viable”, opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
Key Takeaways from the Advanced Wound Dressing Market Study:
- The institutional sales segment dominates the advanced wound dressing market with a share of 74.10% in 2024.
- Based on the product, the foam dressing segment leads the advanced wound dressing market with a share of 27.10% in 2024.
- The advanced wound dressing market in Malaysia is anticipated to grow at a CAGR of 5.00% through 2034.
- The advanced wound dressing market in India is estimated to rise at a 3.60% CAGR through 2034.
- The advanced wound dressing market in Thailand has the potential to increase at 2.80% CAGR through 2034.
- The French advanced wound dressing market is predicted to rise at a 2.60% CAGR through 2034.
- The advanced wound dressing market in Indonesia is very likely to grow at a CAGR of 2.40% through 2034.
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Advanced Wound Dressing Market Competitive Landscape:
The market for advanced wound dressings is still in its early stages and is limited to developed and developing parts of the world.
Companies manufacturing wound dressings need to invest a significant amount of financial capital and research hours to develop products that are not only effective but also affordable to the general population. Collaborations with government healthcare institutions can help companies offer their products and services at cheaper rates as compared to private hospitals and clinics.
Recent Developments:
- In March 2024, MiMedx Group acquired exclusive rights to bovine-derived collagen matrix particulate from TELA Bio, Inc. to enhance its advanced wound care and surgical solutions portfolio.
- Medela, in August 2023, launched Invia Integrated Dressing, approved by the FDA in July, for all wound types, designed to work with Medela NPWT Liberty and Motion pumps.
- DuPont launched DuPont Liveo MG 7-9960 in October 2023, a non-sensitizing, non-irritating, non-cytotoxic soft skin adhesive for advanced wound care dressings.
- In March 2023, UCalgary’s W21C Research and Innovation Centre validated NanoTess’s new wound-care technology, NanoSALV, showcasing its effectiveness in healing chronic wounds.
- Kane Biotech Inc. and ProgenaCare Global LLP launched the newly rebranded revyve™ Antimicrobial Wound Gel in November 2023, an innovative triple-threat approach to chronic wounds.
Advanced Wound Dressing Market Key Companies:
- Smith & Nephew plc
- Mölnlycke Health Care AB
- ConvaTec Group PLC
- Coloplast A/S
- 3M Company
- Ethicon, Inc. (a subsidiary of Johnson & Johnson)
- BSN Medical GmbH (a subsidiary of Essity AB)
- Medline Industries, Inc.
- Acelity L.P. Inc. (formerly known as Kinetic Concepts, Inc.)
- Hollister Incorporated
- Integra LifeSciences Holdings Corporation
- Organogenesis Holdings Inc.
- Medtronic plc
- Lohmann & Rauscher GmbH & Co. KG
- Advancis Medical
- PAUL HARTMANN AG
- Urgo Medical (part of Laboratoires URGO)
- Winner Medical Group Inc.
- B. Braun Melsungen AG
- Mölnlycke Health Care AB
Key Segments Profiled in the Advanced Wound Dressing Market Survey
By Product:
- Dressings
- NPWT
- Debridement Devices
- Grafts
- Matrices
- Topical Agents
By Wound Type:
- Surgical
- Traumatic
- Ulcers
- Burns
By End User:
- Hospital
- Homecare
By Region:
- North America
- Latin America
- Asia Pacific
- META
- Europe
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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Website: https://www.futuremarketinsights.com
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