Industry Insights
The U.S. wound dressing market size was valued at USD 3.18 billion in 2017. Increasing prevalence of diabetes is expected to provide growth opportunity for the market. According to the Centers for Disease Control and Prevention (CDC), about 9.2% of the U.S. population have diabetes and around 84.1 million population has prediabetes.
U.S. wound dressing market revenue, by product, 2013 - 2024 (USD Billion)
Chronic wounds are silent epidemic, affecting 6.5 million individuals in U.S. This number is expected to increase in near future according to the U.S. National Institute of Health (NIH). If not taken care, it may lead to loss of limbs or, in certain cases, death. This epidemic is largely unknown because individuals with slow-healing wounds often have another chronic condition that can lead to morbidity.
Increasing geriatric population and obesity are also contributing to growth of the wound dressing market. Pressure ulcer is a condition likely to affects individuals who are bedridden wheelchair-bound, malnourished, and/or are suffering from impaired sensation. The developments in wound dressings have led to a shift from simple dressings to advanced products and devices that incorporate pharmaceutically-active ingredients.
Wound dressings have been developed to such an extent that they now maintain a moist wound envoirnment while actively promoting wound healing. For instance, keratin-based wound care products that are used along with the dressings are helpful in wound re-epithelialisation. These products enable faster healing, while the keratin matrix is absorbed in the wounds and eliminates the need to change the dressing.
Furthermore, launch of novel therapies, such as electromagnetic therapy, electrical stimulation, and nanotechnology coupled with the use of silver and other combination dressings are anticipated to drive the market. These advancements offer better relief to patients during any trauma treatment, which is a high impact rendering driver for the U.S. wound dressing market.
Increasing incidence of diseases, such as pressure ulcers, diabetic ulcers, and venous stasis ulcers, have augmented the demand for advanced wound care products. Wound dressing helps improve the overall well-being of patients affected from such disorders. High prevalence of chronic wounds and annual cost incurred for their treatment can positively impact the market growth.
Segmentation by Product
• Traditional
• Advanced
• Moist
• Foam
• Alginate
• Films
• Hydrocolloids
• Hydrogel
• Antimicrobial
• Silver
• Non-silver
• Active
• Biomaterials
• Skin-substitute
The advanced dressing products led with more than 57% market share in 2017. These encompass moist, antimicrobial, and active dressings. Ideal dressings should have qualities such as rapid healing, reasonable cost, with minimal patient inconvenience. The segment is driven by constant innovations in terms of product along with high research funding for wound care management. For instance, in 2017, Johnson & Johnson Consumer Inc. launched SKIN-FLEX innovative band aid for faster healing.
In 2017, moist dressing segment held larger share of the U.S. wound dressing market. Increasing prevalence of diabetes and pressure ulcer is the key factor driving the segment. Furthermore, companies are investing in R&D to launch innovative product to gain competitive edge.
Competitive Landscape
The market is highly competitive. It is dynamic in nature with few big players accounting for major revenue shares. Companies frequently engage in mergers and acquisitions mainly to maintain the market position. They also invest in R&D to launch innovative products to gain competitive edge. For instance, Johnson & Johnson BAND-AID Brand HYDRO SEAL, which, within 24 hours of application, forms a white bubble under the bandage to indicate that the healing process has begun.
Bristol-Myers Squibb, Smith and Nephew, Coloplast AS, Healthpoint Biotherapeutics, Johnson and Johnson, Medline Industries, and 3M Healthcare are some of the key companies in the U.S. wound dressing industry. Stringent government policies and intense competition among the existing companies may pose challenge for new entrants.
