Advanced Wound Dressings Market to Exhibit a CAGR of 5.6% from 2024 to 2032; Mölnlycke Health Care AB Unveiled to Release Advanced Wound Care Products to Broaden its Product Offerings

The global advanced wound dressings market size stood at USD 7.45 billion in 2023. The market value is slated to rise from USD 7.83 billion in 2024 to USD 12.11 billion by 2032 at a CAGR of 5.6% during 2024-2032. Fortune Business Insights™ presents this information in its report titled

“Advanced Wound Dressings Market Size, Share & Industry Analysis, By Product Type (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, 2024-2032”

Wound dressings are of different kinds, such as hydrogels, hydrocolloids, hydrofibers, and semipermeable films and foams, among others. The preferential switch to advanced wound management products from traditional products is set to flourish the market growth. The prominent companies are emphasizing research and development initiatives for the release of novel and new products with established clinical efficiency to tap the profitable opportunities.

The COVID-19 pandemic led to postponement of non-urgent and elective wound care procedures, which included routine examinations in wound clinics and hospitals. In addition, the market for advanced wound dressings witnessed the shutdown of many wound clinics in European countries and the U.S. and reduced operational capacity of a few open clinics. This factor caused delays in the delivery of timely care to chronic wound patients.

Mölnlycke Health Care AB Declared to Launch Advanced Wound Care Products to Expand its Offerings

In January 2022, Mölnlycke Health Care AB unveiled its plan for the launch of advanced wound care products with new technology. This launch was aimed at the expansion of the company’s product offerings. Through this move, the company also aimed to bring a major transition to shape the next generation of wound care.

Market Value to Expand Owing to Growth in Acute and Chronic Wound Cases and Technological Innovations

The increase in the cases of acute and chronic wounds, along with advancements in technology, is set to surge the demand for wound dressings, proliferating the market growth. The launch of novel wound healing products with infection control and exudate management among companies, coupled with rising investments in R&D initiatives, are poised to bolster the uptake of these products across the globe for the management of acute and chronic wounds, specifically in developed nations. Hence, these factors are contributing to the advanced wound dressings market growth.

However, the prohibitive treatment cost along with the prolonged recovery may impede the adoption of advanced wound care products, hampering the market growth.

Key Players Emphasize Product Innovations to Expand Their Offerings

Smith+Nephew registered the largest market share in 2023. Its emphasis on collaborations with key companies and organizations and acquisitions to boost its advanced wound care segment is leading to the growing share of the company. A wide array of strategic moves, such as joint ventures, partnerships, and mergers & acquisitions are being adopted by top companies to surge their share. Many companies are emphasizing product innovations to broaden their offerings in the advanced wound dressings market.

List of Key Players Profiled:

• Smith & Nephew (U.K.)
• 3M (U.S.)
• Coloplast A/S (Denmark)
• ConvaTec Inc. (U.K.)
• Plastod S.p.A. (Italy)
• Integra LifeSciences Corporation (U.S.)
• Mölnlycke Health Care AB (Sweden)
• Medline Industries, LP (U.S.)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/advanced-wound-dressings-market-100384

Key Industry Development

• January 2024 – Medline Industries, LP announced the launch of its first transparent wound dressing for pressure injury prevention. This launch focused on the expansion of the company’s product offerings.

Further Report Findings

• North America market for advanced wound dressings, valued at USD 3.00 billion in 2023, accounts for the largest share. The rising initiatives by key companies to launch advanced products is fostering the market growth in the region. For instance, in March 2024, Integra LifeSciences Corporation released MicroMatrix Flex to offer convenient access to hard-to-reach areas in complex cases to broaden its product offerings.
• By end-user, hospitals segment secured a higher advanced wound dressings market share in 2023. The greater number of surgeries conducted in hospitals is resulting in greater occurrence of surgical wounds and longer hospital inpatient stays. This factor is resulting in a higher prevalence of pressure ulcers among patients, leading to more demand for wound dressings from hospital settings.

Table of Segmentation