Market Forecast by Countries (United States, Canada), By Type (Advanced Wound Dressings, Traditional Wound Dressings), By Wound Type (Surgical and Traumatic Wounds, Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, Burns and Other Wounds), By End User (Hospitals, ASCs, and Clinics, Home Care Settings, Other End Users) And Competitive Landscape
Product Code: ETC406665 | Publication Date: Nov 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 250 | No. of Figures: 50 | No. of Tables: 25 |
North America wound dressings market is poised to grow during the forecast period. With an increase in the incidence of chronic wounds and diabetes, there is a growing need for wound care and tissue repair products, which are driven by the demand from various end users such as hospitals and home healthcare providers.
According to 6Wresearch, the North America Wound Dressings Market size is expected to grow during 2022-2028. The factors fuelling the North America Wound Dressings Market revenue are increasing incidence of various types of wounds, growing demand for therapeutic products that are effective in treating these wounds, and changing lifestyles of people across the globe which is resulting in increased use of bandages and wound dressings.
The market is witnessing significant growth owing to the increasing incidence of wounds and various factors such as rising geriatric population, growing awareness about the benefits of wound dressing among healthcare professionals, and increased investments in R&D for new wound care products.
The market is witnessing a rise in demand for wound care products owing to the increasing incidence of wounds across various geographies, including the U.S. and Canada. Moreover, there is an increasing focus on preventive healthcare measures that include regular check-ups and screenings for cancer in developed countries. This growth will be supported by an increase in investment in R&D activities by key players in the market. The companies are focused on offering innovative wound care products across various geographies. These companies have been able to successfully expand their businesses by developing new products and expanding their product offerings into new geographies.
Some of the key factors hampering the North America Wound Dressings Market growth are an inadequate knowledge about wound care among patients and caregivers, lack of available therapies, and a high cost associated with wound care treatments. However, several key players are aggressively investing in new product launches and expanding their distribution channels to expand their presence in this market.
Based on Countries, the North America wound dressing market share is segmented on the basis of region. The market is stratified into the United States, Canada, and Mexico. The U.S. wound dressing market is expected to be the largest in terms of value and volume during the forecast period, followed by Canada.
The North America wound dressing market is segmented on the basis of end user. The market is stratified into hospitals, clinics, and other healthcare facilities. Hospitals are expected to account for the largest share of the wound dressing market in terms of revenue during the forecast period. This is owing to an increase in awareness about preventive healthcare measures and the need to provide quality care to patients.
Home Healthcare is expected to be the fastest growing application segment during the forecast period, due to an increase in awareness about preventive healthcare measures and an increased focus on health and wellness among consumers.
Based on type, the market is divided into Advanced Wound Dressings and Traditional Wound Dressings. Traditional Wound Dressings dominate the market owing to their low cost and easy availability. They cater to the individuals who dress their wounds at home or community centres without professional supervision. Advanced Wound Dressings are gaining prominence due to their ability to heal wounds quickly and prevent infection. Mostly Practised in hospitals by professionals but they are expensive, comparatively.
The outbreak of COVID-19 has had a significant impact on the Global America wound dressings market. The demand for wound dressings is expected to neutral due to the slowdown in surgical procedures and hospital admissions. In addition, the supply of wound dressings is expected to be disrupted due to the closure of manufacturing facilities in China.
The decrease in demand for wound dressings will be driven by the slowdown in surgical procedures and hospital admissions due to the COVID-19 pandemic. Hospitals are postponing non-emergency surgeries and elective procedures to focus on treating COVID-19 patients. This is expected to reduce the number of patients requiring wound dressings. In addition, many hospitals are restricting visitors to limit the spread of COVID-19, which is reducing the number of people available to provide care for homebound patients requiring wound dressings.
The supply of wound dressings will also be disrupted by the COVID-19 pandemic. Many manufacturers of raw materials and finished products are located in China, which has been severely impacted by the virus.
The competitive landscape in the wound dressing market is characterized by presence of few big players with dominant share, coupled with aggressive marketing strategies by these companies.
Key mergers, acquisitions, and strategic partnerships are some of the key trends observed in the North America wound dressings market. These deals help players gain foothold in new markets and augment their product portfolios. In addition, product launches and expansions are also driving growth in this market. Major players are investing extensively in R&D activities to stay ahead of the curve and offer innovative products that meet the needs of patients.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 North America Wound Dressings Market Overview |
3.1 North America Regional Macro Economic Indicators |
3.2 North America Wound Dressings Market Revenues & Volume, 2021 & 2028F |
3.3 North America Wound Dressings Market - Industry Life Cycle |
3.4 North America Wound Dressings Market - Porter's Five Forces |
3.5 North America Wound Dressings Market Revenues & Volume Share, By Countries, 2021 & 2028F |
3.6 North America Wound Dressings Market Revenues & Volume Share, By Type, 2021 & 2028F |
3.7 North America Wound Dressings Market Revenues & Volume Share, By Wound Type, 2021 & 2028F |
3.8 North America Wound Dressings Market Revenues & Volume Share, By End User, 2021 & 2028F |
4 North America Wound Dressings Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 North America Wound Dressings Market Trends |
6 North America Wound Dressings Market, 2018 - 2028 |
6.1 North America Wound Dressings Market, Revenues & Volume, By Type, 2018 - 2028 |
6.2 North America Wound Dressings Market, Revenues & Volume, By Wound Type, 2018 - 2028 |
6.3 North America Wound Dressings Market, Revenues & Volume, By End User, 2018 - 2028 |
7 United States Wound Dressings Market, 2018 - 2028 |
7.1 United States Wound Dressings Market, Revenues & Volume, By Type, 2018 - 2028 |
7.2 United States Wound Dressings Market, Revenues & Volume, By Wound Type, 2018 - 2028 |
7.3 United States Wound Dressings Market, Revenues & Volume, By End User, 2018 - 2028 |
8 Canada Wound Dressings Market, 2018 - 2028 |
8.1 Canada Wound Dressings Market, Revenues & Volume, By Type, 2018 - 2028 |
8.2 Canada Wound Dressings Market, Revenues & Volume, By Wound Type, 2018 - 2028 |
8.3 Canada Wound Dressings Market, Revenues & Volume, By End User, 2018 - 2028 |
9 North America Wound Dressings Market Key Performance Indicators |
10 North America Wound Dressings Market - Opportunity Assessment |
10.1 North America Wound Dressings Market Opportunity Assessment, By Countries, 2021 & 2028F |
10.2 North America Wound Dressings Market Opportunity Assessment, By Type, 2021 & 2028F |
10.3 North America Wound Dressings Market Opportunity Assessment, By Wound Type, 2021 & 2028F |
10.4 North America Wound Dressings Market Opportunity Assessment, By End User, 2021 & 2028F |
11 North America Wound Dressings Market - Competitive Landscape |
11.1 North America Wound Dressings Market Revenue Share, By Companies, 2021 |
11.2 North America Wound Dressings Market Competitive Benchmarking, By Operating and Technical Parameters |
12 Company Profiles |
13 Recommendations |
14 Disclaimer |