Advanced Wound Dressings Market Size, Share & COVID-19 Impact Analysis, By Product (Alginate Dressings, Hydrogel Dressings, Film Dressings, Foam Dressings, Hydrocolloid Dressings, Antimicrobial Dressings, and Others), By Indication (Diabetic Foot Ulcers, Pressure Ulcers, Surgical Wounds, and Others), By End User (Hospitals, Clinics, Homecare Settings, and Others), and Regional Forecast, 2020-2032

The global advanced wound dressings market size was valued at USD 6.45 billion in 2019 and is projected to reach USD 11.39 billion by 2032, exhibiting a CAGR of 4.5% during the forecast period on our analysis in the existing report.

According to various meta-analytical population studies, the global prevalence of diabetic foot ulcers is estimated to be around 6.3%. This significantly varies among males and females, type-1 and type-2 diabetic patients, and among different geographies. Wound dressings, including film dressings, foam dressings, and others, have demonstrated clinical efficiency in management of chronic and acute wounds. These dressings have been the pivotal pillars of wound management owing to their comparatively lower cost, efficient exudate management, and improved healing of wounds. It is highly challenging to estimate the true cost of care for chronic and acute wounds globally. However, chronic wounds exert a huge burden on healthcare systems, especially in developed countries where the prevalence of hard-to-heal ulcers is higher as compared to emerging economies.  Hard-to-heal ulcers have a huge financial burden associated with their treatment, and most cases lead to foot amputation. According to the International Diabetes Federation (IDF), diabetic foot ulcers account for 80% of the total non-traumatic lower limb amputations in the U.S. The overall cost of hospitalization, wound management, dressings, and other indirect costs associated with treatment of foot ulcers in the U.S. equate to an estimated USD 9.0 billion to USD 11.0 billion annually.

The outbreak of the COVID-19 pandemic has been instrumental in the disruption of wound care services offered by healthcare professionals worldwide.  This includes postponement of elective and non-urgent wound care procedures, including routine examinations in hospitals and wound clinics. Most of the resources, including beds in wound clinics and hospital departments, have been reallocated for treatment of covid-19 patients. Most of the wound clinics in the U.S. and European countries have been closed, and the few which are open are running on reduced capacity. This has led to delay in delivering timely care to chronic wound patients. However, major players such as Smith & Nephew, 3M, etc. have ensured that the supply chain of wound dressings is not disrupted, and patients face minimal challenges in accessing the products. Also, healthcare providers have shifted to Telehealth platforms for virtual assessment of wounds, which is expected to reduce the overall impact of covid-19 on the market. 

LATEST TRENDS

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Shift from Traditional to Advanced Wound Management Products to Stimulate Growth

There is a gradual rise in demand for innovative wound dressings, especially for antimicrobial dressings, alginate dressings, and others, owing to their proven clinical efficiency over film, foam, and other dressings in wound management. This has marked the shift from traditional wound dressings such as gauze and other products to advanced wound dressings. Market players are constantly engaged in R&D to introduce new and advanced dressings with established clinical efficiency to tap the lucrative opportunities.  ConvaTec, Inc., a leader in wound management, boasts of a strong advanced dressings portfolio, including the AquaCel Ag+ antimicrobial dressing line. Based on its proprietary hydrofiber technology, the dressing has demonstrated superiority in wound management, including infection control. Technological advances in wound dressings coupled with increasing prevalence of chronic wounds have been instrumental in higher demand for these dressings in the global market.

DRIVING FACTORS

Increasing Incidence of Wounds to Drive the Demand for Wound Dressings

There is a considerable increase in the incidence of chronic wounds, including diabetic foot ulcers, pressure ulcers, and venous leg ulcers, especially in developing countries. Higher prevalence of co-morbid conditions such as diabetes, mobility disorders, etc. and lack of diagnosis among patient population for chronic wounds, have augmented the incidence of these wounds. According to the IDF, an estimated 240 million people in the countries in Asia-Pacific were suffering from diabetes in 2018. This accounts for a significant proportion (an estimated 60%) of the total diabetic population globally. Statistics also suggest that the lifetime risk of developing a foot ulcer among diabetic population is pegged at 34%. This, along with growing incidence of pressure ulcers, surgical wounds, and others, is leading to higher demand for advanced dressings for the treatment and management of these wounds. The introduction of innovative wound dressings, with exudate management and infection control, has propelled the adoption of these dressings, especially in developing countries owing to comparatively lower cost of wound management via dressings.

RESTRAINING FACTORS

Lack of Diagnosis and Treatment in Developing Countries to Limit the Demand for Wound Dressings

Growing prevalence of diabetes has been strongly associated with higher prevalence of diabetic foot ulcers. There is a substantially higher risk of developing a foot ulcer among diabetic patients, which is even higher among type-2 diabetic patients. This raises a major concern for healthcare systems around the world, owing to the fact that type-2 diabetes is the most prevalent type of diabetes globally. However, there is a significant lack of diagnosis for foot ulcers among patients suffering from diabetes, especially in emerging economies.  Limited awareness regarding foot ulcer complications, along with poor framework for reimbursement, has limited the diagnosis of foot ulcers in these countries. This has led to limited number of patients undergoing treatment, with a significant population remaining undiagnosed, thus hampering the advanced wound dressings market growth.

The above factors, combined with lower per capita healthcare expenditure in these countries and higher out-of-pocket expenditure on healthcare, have further limited the number of patients seeking or continuing the treatment for chronic wounds. These factors have hampered the adoption of advanced wound dressing products in the developing regions of the global market.

SEGMENTATION

By Product Analysis

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Antimicrobial Dressings Dominated the Global Market

In terms of product, the market is divided into alginate dressings, film dressings, foam dressings, hydrocolloid dressings, hydrogel dressings, antimicrobial dressings, and others. The antimicrobial dressings segment dominated the advanced wound dressings market share in 2019. These dressings protect the wound from infections caused by various pathogens, and reduce the overall cost of wound management by eliminating the need for topical antiseptics and oral antibiotics during the course of treatment. This has led to higher adoption of antimicrobial dressings among healthcare professionals globally. 

Alginate, hydrogel, and foam dressings segments are projected to register comparatively higher CAGR during forecast period. Introduction of new and innovative products by market players in these segments, along with clinical benefits offered by these dressings in exudate management and wound healing, are fueling their demand. 

By Indication Analysis

Diabetic Foot Ulcer Segment Dominated the Market in 2019

Based on indication, the market is segregated into surgical wounds, pressure ulcers, diabetic foot ulcers, and others. According to the IDF, in 2018, an estimated 463 million patients were suffering from diabetes globally, and type-2 diabetic population accounts for around 90% of the total diabetic population. Statistics also revealed that diabetic foot ulcers affect an estimated 9.0 million to 26.0 million people each year, globally. Rising prevalence of diabetic foot ulcers also has a huge financial burden on healthcare systems around the world for treatment and management of these wounds.

The low-cost option provided by advanced wound dressings as compared to active wound therapies in treatment and management of chronic wounds has been instrumental in the higher demand for these products in the treatment of diabetic foot ulcers. This, along with realigning reimbursement policies in developed and developing countries for wound dressings, and introduction of new products, has propelled the demand and adoption of these dressings for diabetic foot ulcer treatment.

By End User Analysis

Homecare Settings Segment to Grow at a Steady CAGR

On the basis of end-user, the market segments include hospitals, clinics, home care settings, and others. Higher prevalence of hard-to-heal ulcers in developed countries, along with adequate reimbursement provided at hospital inpatient settings for wound care products, are some of the primary reasons attributed to higher share of hospitals in 2019. Also, higher number of surgical procedures performed in hospitals is leading to higher incidence of surgical wounds, and longer hospital inpatient stays are leading to higher incidence of pressure ulcers among patients. This is leading to higher demand for wound dressings from hospital settings in the global market.

However, emergence of specialized wound clinics especially in the U.S. and Europe and adequate reimbursements provided by these settings is leading to higher number of patients being treated for chronic wounds at these settings. Also, the shift towards home care settings, especially during the current pandemic outbreak, and emergence of Telehealth programs for wound care, is projected to drive the demand for advanced wound dressings from home care settings during forecast period. 

REGIONAL INSIGHTS

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The market size in North America was at USD 2.52 billion in 2019. The overall global prevalence of diabetic foot ulcers was estimated to be around 6.3%, and the prevalence was higher in North America at around 13.0%, while comparatively lower in Oceania at around 5.0%. According to the Department of National Nosocomial Infections Surveillance (NNIS) handled by the Centers for Disease Control and Prevention (CDC) in the U.S., an estimated 27 million surgical procedures are performed each year in the country. The prevalence of surgical wounds is around 5%, which equates to an estimated 1.3 million surgical site infections each year in the U.S. Increasing incidence of chronic wounds, well-established reimbursement policies for wound dressings, and other factors have contributed to the dominance of North America in this market share. Europe and Asia-Pacific are projected to register a comparatively higher CAGR during the forecast period. According to European Wound Management Association (EWMA), an estimated 1-2% of the population in the region suffers from chronic wounds, and around 25% to 30% acute care beds are occupied by patients suffering from wounds. Entry of global players in the lucrative markets in Latin America and the Middle East and introduction of new products in these regions are projected to drive the adoption of these dressings during the forecast period.

KEY INDUSTRY PLAYERS

Key Players Focusing on R&D to Introduce New Products in the Market

This is a semi-consolidated market, with many regional and global players operating in the space. Some domestic players have established themselves in the regional markets through a strong distribution network and diversified portfolio of dressings. The global market is dominated by 3M, Smith & Nephew, and ConvaTec, Inc. These players are focused on strong and diversified portfolio of wound care products, including advanced wound dressings. 3M’s Tegraderm family of wound dressings includes high absorbent foam dressings, film, hydrogel, alginate, and hydrocolloid dressings, all under one strong brand. Smith & Nephew also boasts of a diverse portfolio including antimicrobial dressings, film and alginate dressings, among others.

Other major players operating in the market include Coloplast Corp., Derma Sciences Inc., Mölnlycke Health Care AB, and others. These players are increasing their focus on R&D to introduce new products, and focusing on strengthening their global outreach, with an aim to capitalize the lucrative market opportunities.

LIST OF KEY COMPANIES PROFILED:

• Smith & Nephew (London, U.K.)


• 3M (Minnesota, U.S)


• Coloplast Corp (Humlebaek, Denmark)


• ConvaTec Inc. (England, U.K.)


• Derma Sciences Inc. (New Jersey, U.S.)


• Mölnlycke Health Care AB (Gothenburg, Sweden)


• Other Players

KEY INDUSTRY DEVELOPMENTS:

• October 2019 – 3M announced the acquisition of Acelity Inc., along with its subsidiaries. Acelity was among the leading players in the market, and boasted of a diversified portfolio of wound dressings.

REPORT COVERAGE

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The advanced wound dressings market report provides market size and growth rate of leading regions across the world, with an aim to offer a better understanding of the market to the user. Furthermore, the research report provides insights into the latest industry trends and analyzes technologies that are being deployed at a rapid pace at a global level. It further highlights some of the growth stimulating factors, restraints, and competitive landscape, to help the reader gain in-depth knowledge about the market.

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Report Scope & Segmentation