Advanced Wound Dressing Market Worth $10.5 Billion By 2030: Grand View Research, Inc.
SAN FRANCISCO, Feb. 7, 2023 /PRNewswire/ -- The global advanced wound dressing market size is expected to reach USD 10.5 billion by 2030, registering a CAGR of 4.5% according to a new report by Grand View Research, Inc. An increasing number of accidents, the impact of COVID-19, and technological advancements are the key driving factors for the market. The increasing incidence of accidents such as road accidents, burns, and trauma events across the globe is anticipated to drive the market. For instance, as per the WHO (2018), around 1,000,000 people are severely or moderately burnt in India per year. In addition, as per NCBI, in 2017, countries such as Bulgaria, Finland, the Netherlands, China, Australia, and the U.K. reported a rise in the incidence of burn injuries.
Key Industry Insights & Findings from the report:
In terms of revenue, the foam dressings segment held the largest revenue share in 2020. The rising number of road accidents across the globe is the major factor propelling segment growth.
The acute wounds segment held the largest revenue share in 2020 and is expected to witness the fastest growth rate over the forecast period due to the increasing number of surgeries.
The hospitals segment held the largest revenue share in 2020. The growth of the segment is majorly driven by the increasing number of hospitals.
In Asia Pacific, the market is expected to witness the fastest growth rate over the forecast period owing to the rising prevalence of chronic injuries.
Read full market research report, "Advanced Wound Dressing Market Size, Share & Trends Analysis Report By Product (Foam Dressings, Film Dressings), By Application, By End-use (Hospitals, Specialty Clinics), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Advanced Wound Dressing Market Growth & Trends
Furthermore, as per the American Association for the Surgery of Trauma, in 2017, around 1.2 million people died globally, accounting for the deaths of around 3,242 people per day in road accidents every year. Road accidents mostly occur in middle- or low-income countries. The advanced wound dressing is majorly used for the faster healing of all kinds of burns injuries. Moreover, bandages and gauze are also used for the treatment of minor injuries. Thus, the rising number of accidents is expected to boost the demand for advanced wound dressing, which is expected to lead to considerable market growth over the forecast period.
The rising number of surgical procedures is also expected to boost the demand for home healthcare services. According to the American Society for Metabolic and Bariatric Surgery (ASMB) in 2018, the number of people who underwent sleeve gastrectomy increased by 8.05% from 2016 to 2017 in the U.S. Patients undergoing surgeries are required to stay at hospitals for a longer period; thus, most patients prefer home healthcare services over hospital stays. Therefore, these factors are likely to boost the demand for home healthcare services, thereby fueling market growth during the forecast period.
Advanced Wound Dressing Market Segmentation
Grand View Research has segmented the global advanced wound dressing market based on product and end-use:
Advanced Wound Dressing Market - Product Outlook (Revenue, USD Million, 2018 - 2030)
Other Advanced Dressings
Advanced Wound Dressing Market - Application Outlook (Revenue, USD Million, 2018 - 2030)
Advanced Wound Dressing Market - End-use Outlook (Revenue, USD Million, 2018 - 2030)
Advanced Wound Dressing Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)
Middle East & Africa
List of Key Players in Advanced Wound Dressing Market
Smith & Nephew
ConvaTec Group PLC
Derma Sciences (Integra LifeSciences)
Ethicon (Johnson & Johnson)
Molnlycke Heath Care AB
Check out more related studies published by Grand View Research:
Wound Dressing Market - The global wound dressing market size is expected to reach USD 18.86 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.14% from 2023 to 2030. An increasing number of people suffering from chronic wounds, a rise in technologically advanced dressing, and rising cases of traumatic accidents are expected to be the key driving factors for the market.
Acute Wound Care Market - The global acute wound care market size is expected to reach USD 11.96 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.24% from 2022 to 2030. A rise in burn incidence cases, an increase in the global geriatric population, and rising cases of traumatic accidents are expected to be the key driving factors for the market.
Anti-biofilm Wound Dressing Market - The global anti-biofilm wound dressing market size is expected to reach USD 1.48 billion by 2030, registering a CAGR of 9.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The rising incidence of Hospital Acquired Infections (HAIs), the growing prevalence of chronic diseases, and the increasing number of burn cases are the key driving factors for the market.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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SOURCE Grand View Research, Inc.