Global Moist Wound Dressings Market to Generate $6,807.2 Million in the 2022–2031 Timeframe Due to Growing Applications of Moist Wound Dressings in the Hospitals

Moist wound dressings are some of the most used dressing methods in healthcare sector. Moist wounds heal faster as these wounds facilitate keratinocyte migration all over the wound. Moist wounds support the presence of nutrients and provide a conducive environment for the functioning of growth factors, nutrients, and other soluble mediators. Hence, moist wound dressings are used to create or keep intact the moist wound environment so as to activate collagen synthesis, reduce pain, and facilitate faster wound healing.

Forecast Analysis of the Moist Wound Dressings Market

Over the years, moist wound dressing has been increasingly adopted by doctors and medical practitioners. This increasing use of moist wound dressing in hospitals is expected to be the primary growth driver of the moist wound dressings market in the 2022-2031 timeframe. Along with this, technological advancements and innovations in the medical sector are predicted to boost the market in the analysis timeframe. Moreover, the advantages associated with moist wound dressings such as proper exudate control, less pain and scarring, etc. These advantages are expected to increase the demand for moist wound dressings, which is expected to offer numerous growth opportunities to the market in the forecast years. However, according to the market analysts, high cost of moist wound dressings might become a hurdle in the full-fledged growth of the moist wound dressings market in the forecast years.

Regionally, the moist wound dressings market in the North America region is expected to be the most dominant in the forecast period. The rise in the prevalence of diabetes, burns, and surgeries leading to an increase in the cases of surgical site infection (SSI) is predicted to be the main contributing factor to the growth of the market in this region.

As per a report by Research Dive, the global moist wound dressings market is expected to reach a revenue of $6,807.2 million in the 2022–2031 timeframe, thereby growing at a CAGR of 5.2% by 2031. Some prominent market players include Coloplast A/S, Smith & Nephew plc, Systagenix Wound Management Ltd., 3M, B. Braun, Derma Sciences, Cardinal Health, Inc., Convatec Group plc, Hollister Incorporated., Medline Industries, Inc., and many others.

Covid-19 Impact on the Moist Wound Dressings Market

The Covid-19 pandemic and the subsequent lockdowns have had a catastrophic impact on various businesses and markets worldwide. The moist wound dressings market, too, faced a similar fate. The pandemic saw a decrease in hospital admissions related to wound dressings as the number of Covid-19 emergency cases increased and were treated on a priority basis. Hence, the demand for moist wound dressings decreased during the pandemic period, thereby leading to a decline in the growth rate of the market.

Significant Market Developments

The key players of the market are adopting various business strategies such as partnerships, mergers & acquisitions, and launches to gain a leading position in the market, thus helping the moist wound dressings market to flourish. For instance:

• In June 2021, a press release from RMIT University announced that a group of scientists from RMIT University, Melbourne, had developed smart wound dressings with built-in healing sensors. The wound dressings were developed in such a way that they would glow if the wound was not healing as intended, thereby alerting the patient and the medical staff. This breakthrough is expected to propel the medical industry forward in the upcoming years.
   
• In February 2022, Argentum Medical, a medical device leader, announced that it was acquiring Anacapa Technologies, a pharmaceutical company based in California. Anacapa Technologies is considered to be a leader in antimicrobial wound care products and hence, this acquisition is predicted to help Argentum Medical to expand its footprint in the market.
   
• In September 2022, Evonik, a German speciality chemicals company, announced that it had signed an agreement to acquire Coopmed, a medical technology company. This acquisition by Evonik is aimed at bettering the distribution of biosynthetic cellulose wound dressing product epicite®. Thus, the acquisition is predicted to help the acquiring company, i.e., Evonik substantially in the coming period.