Published Date : 01 Dec 2023
The global interactive wound dressing market size is estimated at USD 4.6 billion in 2022 and is expected to reach USD 7.60 billion by 2032, growing at a CAGR of 5.20% during the forecast period.
The terms passive, active, and interactive are occasionally used to characterize wound dressings. Active wound dressings facilitate healing by generating a moist wound environment, whereas passive dressings just provide protection. Contrarily, interactive wound dressings engage with the elements of the wound bed in addition to producing a wet wound environment to promote wound healing even further. For instance, interactive wound dressings can increase wound bed moisture retention, decrease the amount of exudate, eliminate cellular products, decrease the colonization count, and preserve the epithelializing bed.
The interactive wound dressing market is driven by several factors including a growing ageing population, rising technological advancements, increasing incidence of chronic wounds, prevalence of diabetes and growing awareness and education. Furthermore, the increasing investment in interactive wound care dressing is expected to propel the market expansion during the projected timeframe.
In June 2022, to enhance advanced wound care, Smith & Nephew recently opened its newest production and research facility. The investment has a USD 100 million value. It's also probable that a grant from the UK government will help fund the development. In its first ten years of operation, the new plant is anticipated to support sales of more than USD 10 billion.
North America held the largest market share in 2022 and is expected to continue the same pattern during the forecast period. The regional market expansion is driven by several factors including the growing ageing population, the prevalence of chronic diseases and an increasing emphasis on advanced wound care.
The United States in North America is expected to hold the prominent market revenue share during the projected timeframe. The market growth in the US is mainly driven by the growing population having chronic conditions. In addition, the market growth is also driven by the advanced healthcare infrastructures and the growing government funding for advanced technologies.
|Market Revenue in 2023
|USD 4.82 Billion
|Projected Forecast Revenue by 2032
|USD 7.60 Billion
|Growth Rate from 2023 to 2032
|CAGR of 5.20%
|2023 to 2032
|North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Increasing incidence of chronic wounds
The rising incidence of chronic wounds, such as diabetic ulcers and pressure sores, is likely to drive the demand for innovative wound care solutions, including interactive dressings. For instance, according to the National Institute of Health, between 9.1 and 26.1 million diabetic foot ulcers occur each year worldwide. Throughout their lives, 15 to 25% of people with diabetes mellitus will get a diabetic foot ulcer. The frequency of diabetic foot ulcers is certain to rise in tandem with the annual increase in the number of people diagnosed with diabetes.
Growing aging population
The global ageing population is increasing, leading to a higher prevalence of chronic disease and age-related conditions. This demographic trend may contribute to the expansion of the wound care market, including interactive wound dressings. For instance, according to the Australian Institute of Health and Welfare, diabetes became more common as people age in 2022, with about 1 in 5 Australians aged 80–84 having the disease, which is nearly 30 times higher than the 0.7% of those under 40 who had the disease. After adjusting for age, males had a 1.3-fold higher prevalence of diabetes than females. Between 2000 and 2012, the age-standardized prevalence rate of diabetes rose by more than 80%, and in the ten years that have passed, it has essentially not altered.
Interactive wound dressings often involve advanced technologies and materials, making them more expensive than traditional dressings. The higher costs may be a barrier to widespread adoption, especially in healthcare systems where cost-effectiveness is a critical consideration. Thus, the high cost is expected to hamper the market growth during the forecast period.
Limited clinical evidence and educational barriers
Some interactive wound dressing technologies may lack extensive clinical evidence supporting their efficacy and superiority over traditional wound care methods. Healthcare providers may be cautious in adopting new technologies without robust clinical data. In addition, healthcare professionals and patients may require education and training to properly use and understand the benefits of interactive wound dressings. Overcoming educational barriers is essential for the successful adoption of these technologies. Thus, this is expected to negatively impact the market expansion during the projected period.
The growing expansion in the digital arena by the market players is expected to provide a lucrative opportunity for market growth during the forecast period. For instance, in June 2022, NATROX® IQ, a new product from NATROX® Wound Care, marked the company's entry into the digital space. A computerized application called the advanced wound hub was created especially to assist wound care teams in better managing their caseloads. When collecting and recording patient wound data, clinicians can attain uniformity in their work. NATROX® IQ, which is now accessible through distribution partners in Malaysia and Hong Kong, is intended to simplify wound documentation.
Adoption of innovative training
The growing initiatives by the market players to adopt innovative ways of training in the wound care industry are expected to offer a potential opportunity for market development over the forecast period. For instance, in March 2022, HARTMANN declared the launch of their Virtual Reality Wound Care Training globally. This unique learning opportunity is built around their proprietary VR simulation, which gives a genuine clinical experience in wound management.
At the World Union Wound Healing Societies (WUWHS) Congress in 2022, medical practitioners will have the opportunity to test VR modules. By immersing students in 3D replicas of wound care clinic rooms furnished with HARTMANN wound dressings, the virtual reality modules on chronic wounds replicate every facet of wound evaluation and therapy. The students practice handling real-world scenarios by assessing wounds, selecting the most appropriate course of action, and applying dressings correctly.
Buy this Research Report@ https://www.precedenceresearch.com/checkout/3328
You can place an order or ask any questions, please feel free to contact at email@example.com | +1 650 460 3308