Moist Wound Dressings Market Size is Estimated to Witness 5.4% CAGR till 2030
The global Moist Wound Dressings Market size is expected to reach USD 6.51 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.4% from 2022 to 2030. The increasing cases of acute and chronic wounds such as surgical, diabetic, and traumatic wounds, lacerations, and diabetic ulcers are driving the market. As per the estimates provided by Elsevier, about 300 million acute wound injuries occur per year.
The COVID-19 pandemic had a negative impact on the market. According to a study, patients with chronic leg ulcers were on the receiving end of collateral damage caused by the restricted access to non-essential health services and overburdened healthcare systems during the pandemic. The same study showed that almost 75% of patients suffering from ulcers discontinued their treatment due to pandemic restrictions.
Ongoing R&D in the healthcare field is leading to the development of new products, for instance, the advent of keratin-based wound care products. These products facilitate wound re-epithelialization but also form part of dressings and aid in wound healing as the keratin matrix in them gets absorbed in the wound, thereby eliminating the need to change the dressing. Furthermore, the introduction of novel therapies, such as electromagnetic therapy, electrical stimulation, nanotechnology, and the use of silver and other combination dressings are boosting the market growth.
These advancements ensure better wound care during any trauma, thereby supporting the market growth. Similarly, new products in the pipeline are anticipated to augment the market growth over the forecast period. For instance, Researchers at the Massachusetts Institute of Technology in the U.S., the University of Nebraska-Lincoln, and Harvard Medical School have developed a bandage that provides precise and scheduled drug delivery, which can be customized as per requirement. Such innovations are expected to create growth opportunities for the market players.
Moist Wound Dressings Market Report Highlights
- Based on product, foam wound dressings accounted for the largest revenue share in 2021 owing to their ability to maintain moisture, which facilitates the healing process
- In the acute wounds application segment, the surgical and traumatic wounds segment accounted for the largest revenue share in 2021 due to the increasing number of surgical procedures being performed as all types of wound dressings are required during surgeries
- The Asia Pacific is expected to witness significant growth during the forecast period as the region holds potential growth opportunities due to the presence of emerging nations like Indonesia and Thailand
- In the chronic wounds application segment, the pressure ulcers segment is anticipated to register the highest CAGR during the forecast period on account of the increasing prevalence of the disease and related complications