According to Vision Research Reports, the Moist Wound Dressings market size was reached at US$ 4.2 billion in 2021 and is expected to be worth around US$ 6.9 billion by 2030, poised to grow at a CAGR of 6.8% during forecast period 2022 to 2030.
According to Vision Research Reports, the Moist Wound Dressings market size was reached at US$ 4.2 billion in 2021 and is expected to be worth around US$ 6.9 billion by 2030, poised to grow at a CAGR of 6.8% during forecast period 2022 to 2030.
Growth Factors
Wound dressings have evolved from simple dressings that cover the wound to advanced products that release pharmaceutically active ingredients for accelerating the healing process, as well as reduce pain and inflammation. Wound care is essential to enhance the healing process and minimize the risk of associated infections. Rising incidence of diabetic pressure, venous stasis, and foot ulcers is one of the key factors driving the market.
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Growing incidence of burn injuries is also projected to boost moisture wound dressings demand. As per the statistics by WHO, every year, about 180,000 deaths occur due to burn injuries. Moreover, growing geriatric population base across the globe is estimated to support market expansion. As per the WHO estimates, the global geriatric population, (aged 60 years and above) is anticipated to reach about 2 billion by 2050.
This age group is susceptible to injuries and chronic wounds, such as venous leg and pressure ulcers, which is expected to spur the market growth in the years to come. Emerging regions, such as Southeast Asia, are expected to witness considerable growth on account of rising cases of burn injuries. Growing disposable income and awareness about these dressing products along with the availability of better quality products in such regions are also contributing to the market growth.
Product Insights
The foam dressings segment held the largest revenue share of over 201% in 2021 in terms of revenue due to the soft and comfortable feel of these dressings. Moreover, they help prevent and stop exudation from burn injuries, which is also driving the segment. Due to their highly absorbent nature, these dressings can be changed after around 3-4 days and are used for wounds with heavy exudation without the complication of maceration.
According to the American Burn Association, approximately 450,000 patients are hospitalized due to burns each year and the risk of infection is higher in these patients.Based on product, the market is segmented into foam dressings, hydrocolloid dressings, film dressings, alginate dressings, hydrogel dressings, collagen dressings, and other advanced dressings. These wound dressings are recommended for chronic wounds like pressure and diabetic foot ulcers and burn injuries as they help create and maintain a moist environment, which facilitates a faster healing process.
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Application Insights
The chronic wounds segment held the largest revenue share of over 55.0% in 2021. This can be attributed to the rising number of various chronic wounds. For instance, according to new statistics by The British Diabetic Association, in 2021, around 4.1 million people in the U.K. were living with some type of diabetes, whereas 850,000 people were expected to be living with type 2 diabetes, which was yet to be diagnosed. Additionally, as per the NCBI, the annual incidence rate of diabetic foot ulcers is predicted to be around 2% - 5%. The lifetime risk of diabetic foot ulcers is projected to be 15% - 20%. Therefore, as a result of the above-mentioned factors, the chronic wound segment is expected to dominate the market during the forecast period.
The acute wounds segment is anticipated to be the fastest-growing application segment due to the increasing prevalence of the disease and related complications. Due to the availability of advanced wound dressing products, such ulcers can be treated and healed quickly while reducing hospital stays and overall costs.
End-use Insights
The hospitals segment captured the largest revenue share of over 41% in 2021 and this trend is projected to continue over the forecast period. This growth can be primarily attributed to the rising number of surgeries performed in these settings. On the basis of end-use, the market can be categorized into hospitals, specialty clinics, home healthcare, and others.
The hospitals segment is also driven by the increasing prevalence of chronic diseases and wounds. In addition, the high prevalence of hospital-acquired infections is anticipated to further drive the segment. The home care settings segment is anticipated to register a growth rate of 6.1% over the forecast period.
Regional Insights
North America held the largest revenue share of over 46% in 2021 owing to the presence of the target population and increased patient awareness levels. The market is estimated to expand further due to the increasing cases of chronic wounds, such as diabetic foot and pressure ulcers, in the region. As per the CDC, around 2.5 million patients suffer from pressure ulcers annually. The easy availability of products as a result of the presence of major market players and their wide distribution network will also contribute to the regional market growth.
Asia Pacific is expected to witness lucrative growth over the forecast period as this region holds potential growth opportunities for the market. Moreover, the presence of emerging nations like Thailand, Malaysia, and Singapore is anticipated to fuel market growth.
Key Players
3M Healthcare; Coloplast A/S; Medline Industries, Inc.; Cardinal Health, Inc.; B. Braun Melsungen AG; Smith & Nephew PLC; ConvaTec Group PLC; Derma Sciences, Inc.; and Systagenix Wound Management Ltd.
Market Segmentation
- Product Outlook
- Foam
- Alginate
- Films
- Hydrocolloid
- Hydrogel
- Application Outlook
- Pressure Ulcers
- Diabetic Ulcers
- Burn Wounds
- Surgical Wounds
- Traumatic Wounds
- Others
- End-use Outlook
- Hospitals
- Homecare
- Others
- Regional Outlook
- The U.S.
- Europe
- Southeast Asia
- Central & South America
- Rest of the World
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