New York, Feb. 15, 2023 (GLOBE NEWSWIRE) -- As per Persistence Market Research, the global Traditional Wound Dressing Market was valued at US$ 4.9 billion in 2021 and is projected to progress at a CAGR of 3.2% through 2032. Sales of traditional wound dressing materials are expected to reach US$ 6.93 billion by the end of 2032.
The healing of wounds has been a challenge throughout human history. With the rising incidence of chronic diseases and surgical procedures, there is a growing need for wound dressings that can speed up the healing process. Over 40 million people worldwide suffer from chronic skin wounds, which are a burden on healthcare systems. The spending on treatment for chronic skin wounds was expected to reach US$ 15 billion in 2022.
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Diabetes can lead to conditions such as diabetic foot and leg ulcers, which require the use of traditional wound dressing products for treatment.
- According to the World Health Organization, diabetes was a factor in 8.5% of deaths worldwide among those over 18 in 2014, leading to 1.5 million deaths in 2019. Worldwide, there are 422 million people with diabetes.
- The International Journal of Endocrinology reports that 15% to 25% of diabetic patients are at risk of developing foot ulcers during their lifetime and may require appropriate wound management, including the use of dressings and topical medications to treat the ulcers and reduce the risk of infection.
The traditional wound dressing market was temporarily affected by the COVID-19 pandemic due to reduced hospital procedures. With the lifting of restrictions, the market is expected to grow through 2032 because of the accumulated demand for treatments and surgeries.
To meet the growing demand for traditional wound dressing worldwide, key market players are focusing on product innovation and development.
For example, Convatec, a leading global medical technology company, launched ConvaMax in January 2020, a wound dressing product for the treatment of leg ulcers and pressure ulcers.
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Key Takeaways from Market Study
- In 2021, gauzes held 39.7% share of the traditional wound dressing market, driven by the rise in the number of accidents.
- Surgeries are the leading application segment for traditional wound dressings, accounting for 70.3% of the market in 2021 due to the high incidence of related diseases.
- Hospitals were the leading end-use segment in 2021 with 48.7% share of the global market.
- North America occupied a leading share of 30.6% of the global traditional wound dressing market in 2021.
A research analyst at Persistence Market Research predicts, “Growing prevalence of chronic wounds, diabetic ulcers, and surgical procedures is expected to drive the usage of traditional wound dressing products.”
Market Competition
The traditional wound dressing market is fragmented and consists of a mix of local, emerging, and well-established players. To remain competitive, key players are focusing on promoting new designs and engineering materials with improved efficacy for post-disposal breakdown.
- In February 2021, Axio Biosolutions received European CE approval for its product MaxioCel.
- In June 2020, Mölnlycke Healthcare launched patient educational resources for wound care during the COVID-19 pandemic to support patients and their caregivers.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the traditional wound dressing market in its latest study, presenting a historical demand assessment for 2017 to 2021 and projections for 2022 to 2032.
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The research provides insights into the traditional wound dressing market based on
- product (bandages (adhesive bandages, non-adhesive bandages, compression bandages),
- gauzes (woven gauzes, non-woven gauzes),
- gauze sponges (woven gauze sponges, non-woven sponges),
- sponges (woven sponges, non-woven sponges),
- application (skin and diabetic ulcers, burns, surgeries, trauma, others),
- end use (hospitals, clinics, diagnostic centers, home care settings, ambulatory surgical centers),
- across 7 key regions of the world.
For additional insights on how the growth of the traditional wound dressing market will unfold over the decade, write to our analyst at media@persistencemarketresearch.com
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