Wound Dressing Market Share, Size and Growth Analysis By 2029

The wound dressings market is projected to expand from US$ 11,319.06 million in 2022 to US$ 16,248.76 million by 2028, reflecting a compound annual growth rate (CAGR) of 6.2% during this period.

This growth can be attributed to the rising incidence of traumatic injuries and the increasing prevalence of chronic diseases that lead to various types of wounds. Nevertheless, challenges such as unfavorable reimbursement policies may hinder market expansion throughout the forecast period.

Wound dressings are widely utilized in the treatment of traumatic injuries. A significant factor contributing to this demand is the escalating number of road accidents, particularly in densely populated countries with lower socioeconomic conditions. Road traffic injuries not only result in substantial human suffering but also lead to considerable economic repercussions. The costs associated with treatment and lost productivity due to fatalities or disabilities are significant. According to a report by the World Health Organization (WHO) in 2021, road traffic accidents account for approximately 3% of the gross domestic product (GDP) in many nations.

Here are some alarming statistics from the WHO regarding road accidents globally:

• Annually, around 1.3 million individuals lose their lives in road traffic incidents.


• Between 20 and 50 million people sustain non-fatal injuries, with many suffering from long-term disabilities.


• A staggering 93% of global road fatalities occur in low- and middle-income countries, which host about 60% of the world?s vehicles.


• Road traffic injuries are the leading cause of death among children and young adults aged 5-29 years.

As a result, the increasing frequency of road accidents is driving the demand for wound dressings, which are essential for effective wound management.

In India, for instance, the Economic Times reported that there were 554,796 road accidents in 2020. Such incidents often lead to severe injuries, including significant blood loss, necessitating immediate medical intervention and sometimes surgical procedures. Consequently, the rise in accidents is significantly boosting the demand for wound dressing products, contributing to the market's growth.

The global wound dressing market is categorized into several regions: North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. North America currently dominates the market; however, the Asia Pacific region is anticipated to experience the fastest growth in the wound dressing sector. Improvements in healthcare systems in countries like Japan, China, and India have enhanced access to diagnostic and treatment services. The aging population, increased healthcare expenditure, and a higher incidence of chronic wounds are expected to further propel the growth of the wound dressing market. According to the National Diabetes Statistics Report 2020 from the Centers for Disease Control and Prevention (CDC), approximately 34.2 million individuals in the US have diabetes, with around 1 million developing foot ulcers annually, and 6-7 million experiencing ulcers at some point in their lives.

Healthcare costs in North America are rising sharply. In 2020, the US healthcare system faced direct costs of US$ 5.3 billion, contributing an additional US$ 60 billion to the overall annual healthcare expenditure. Over 40% of the North American population canceled medical appointments in 2020, and 13% reported needing care but did not receive it. The COVID-19 pandemic significantly altered economic conditions and healthcare behaviors in the region. Government measures to control the virus's spread led to a 40% decrease in emergency department visits in many cities, while outpatient appointments and elective procedures were often postponed or transitioned to telemedicine.

The global wound dressing market is divided into two main categories based on type: advanced and traditional wound dressings. The advanced wound dressing segment held a larger market share in 2022 and is expected to continue its growth throughout the forecast period. These advanced dressings facilitate healing by maintaining moisture in the wound and protecting new granulation tissue from damage.

In terms of application, the market is split between chronic and acute wounds. The chronic wounds segment represented the largest share in 2022 and is projected to grow further due to the increasing elderly population and the rising rates of obesity, diabetes, and cardiovascular diseases, all of which contribute to the prevalence of chronic wounds.

Regarding end users, the wound dressing market is segmented into hospitals, ambulatory surgical centers, clinics, and others. In 2022, hospitals accounted for the largest market share, as they provide comprehensive medical services for both acute and chronic wounds. The hospital segment is expected to see growth during the forecast period, driven by the rising incidence of diabetic foot ulcers and venous leg ulcers.

Data from the Centers for Disease Control & Prevention (CDC) and the World Health Organization (WHO) were utilized as primary and secondary sources in the preparation of this report on the wound dressings market.