Report : North America Wound Dressing Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Wound Dressing Type (Advanced Wound Dressing and Traditional Wound Dressing), Application (Chronic Wound and Acute Wound), and End User (Hospitals, Ambulatory Surgical Centers, Clinics, and Others)
At 6.4% CAGR, the North America Wound Dressing Market is speculated to be worth US$ 6,210.28 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America wound dressing market was valued at US$ 4,271.81 million in 2022 and is expected to reach US$ 6,210.28 million by 2028, registering an annual growth rate of 6.4% from 2022 to 2028. Increasing number of traumatic injuries and rising prevalence of chronic diseases & related wounds are the critical factors attributed to the market expansion.
Wound dressing has broad applications in traumatic injuries. An increasing number of road accidents is one of the key concerns for countries with high populations and low socioeconomic backgrounds, as road traffic injuries cause considerable economic losses. These losses mainly arise from the cost of treatment and lost productivity for those killed or disabled by their injuries. For instance, according to the World Health Organization (WHO) 2021 report, road traffic crashes cost most countries 3% of their gross domestic product (GDP). There are some facts states by WHO regarding road accidents. Firstly, every year approximately 1.3 million people die in road traffic crashes. 93% of the global road fatalities occur in low- and middle-income countries, where approximately 60% of the world’s vehicles run. Road traffic injuries are the leading cause of death for children and young adults aged 5-29 years. Thus, the increasing number of road accidents is leading to an increase in the usage of wound dressing, as dressing is an essential element of standard wound care. Road accidents often cause serious blood loss and other injuries and require immediate medical attention and sometimes surgical intervention to provide immediate relief to the patient. Therefore, an increase in accidents is boosting the demand for wound dressing products and is leading to a significant rise in the market.
On the contrary, unfavorable reimbursement scenario hurdles the growth of North America wound dressing market.
- Based on wound dressing type, the North America wound dressing market is bifurcated into advanced wound dressing and traditional wound dressing. The advanced wound dressing segment held 68.0% market share in 2022, amassing US$ 2,906.93 million. It is projected to garner US$ 4,293.00 million by 2028 to expand at 6.7% CAGR during 2022–2028. The advanced wound dressing is further segmented into foam dressings, superabsorbent dressings, film dressings, hydrocolloids dressings, wound contact layers, collagen dressings, and others. The traditional wound dressing is also segmented into dry dressings, surgical tapes, and anti-infective dressings.
- Based on application, the North America wound dressing market is bifurcated into chronic wound and acute wound. The chronic wound segment held 61.7% market share in 2022, amassing US$ 2,636.44 million. It is projected to garner US$ 3,895.31 million by 2028 to expand at 6.7% CAGR during 2022–2028. The chronic wound segment is further segmented into pressure ulcers, diabetic foot ulcers, venous leg ulcers, and other chronic wounds. Similarly, the acute wound segment is bifurcated into surgical and traumatic wounds and burns wounds.
- Based on end user, the North America wound dressing market is segmented into hospitals, ambulatory surgical centers, clinics, and others. The ambulatory surgical centers segment held 40.8% market share in 2022, amassing US$ 1,744.28 million. It is projected to garner US$ 2,614.12 million by 2028 to expand at 7.0% CAGR during 2022–2028.
- Based on country, the North America wound dressing market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 70.2% market share in 2022. It was assessed at US$ 2,997.53 million in 2022 and is likely to hit US$ 4,474.50 million by 2028, exhibiting a CAGR of 6.9% during the forecast period.
Key players dominating the North America wound dressing market are 3M; Advancis Medical; Axio Biosolutions Pvt Ltd; Coloplast Corp; Convatec Inc.; Integra LifeSciences Holdings Corporation; Medline Industries, Inc.; Medtronic; Mölnlycke Health Care AB.; and Smith+Nephew among others.
- In Jan 2020, Convatec announced the release of ConvaMax. ConvaMax is a new superabsorber dressing distributed by Convatec. ConvaMax superabsorber wound dressing is used to manage highly exuding wounds, including leg ulcers, pressure ulcers, diabetic foot ulcers, and dehisced surgical wounds. The product launch aimed to increase the company's revenue stream and enrich the product pipeline.
- In April 2022, 3M developed long-wear adhesive to enable continuous data, advanced care.
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