July 16, 2024

Advancing wound healing technologies to propel the growth of Wound Healing Films Market

The global Wound Healing Films Market is estimated to be valued at US$ 613.8 Mn in 2023 and is expected to exhibit a CAGR of 11.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Wound healing films are advanced wound care products used for wound management and healing. They form an important layer over acute and chronic wounds providing moist environment necessary for wound healing. They are semipermeable films made of various polymers such as hydrocolloids, alginates, and hydrogels. They protect the wound from external infections and assist healing by maintaining a moist wound environment. Their advantages include ease of application, conformity to wound contours, protection from external trauma, and allow exposure during dressing changes without additional pain. They are widely used for diabetic foot ulcers, pressure ulcers, venous ulcers and various post-surgical wounds.

Market key trends:
One of the key trends in the wound healing films market is the development of multifunctional innovative wound care films. Researchers are focusing on developing films with enhanced absorbency, exudate management, antimicrobial properties, pain relief, and accelerated healing. For instance, films embedded with silver nanoparticles, aloe vera, manuka honey etc. to provide antibacterial and healing benefits. Some films are embedded with pain relief gel to reduce pain during dressing changes. Such multifunctional films cater to complex wound conditions and aid faster healing.
Porter’s Analysis

Threat of new entrants: Low capital requirements and established brand recognition create barriers for new companies.

Bargaining power of buyers: Large number of existing players limits buyer power and influence on pricing.

Bargaining power of suppliers: Established supply networks and suppliers’ dependence on wound healing market players restricts suppliers’ bargaining power.

Threat of new substitutes: Limited substitute products restrict threat from new alternatives.

Competitive rivalry: Intense competition among existing major players to gain higher market share.

Key Takeaways

The global wound healing films market size is expected to reach US$ 1,235.3 Mn by 2030, exhibiting a CAGR of 11% over the forecast period. Increasing incidence of chronic wounds such as diabetic foot ulcers and pressure ulcers is driving the market.

The North America region currently dominates the wound healing films market and is expected to maintain its leading position throughout the forecast period. This is attributed to high incidence of chronic conditions such as diabetes and associated wounds, developed healthcare system and availability of advanced treatment options in the region.

Key players operating in the wound healing films market are 3M Company, B. Braun Melsungen, Coloplast, ConvaTec, Medline Industries, Smith & Nephew, Integra Lifesciences, Derma Sciences, Kinetic Concepts, Molnlycke Health Care, Paul Hartmann, Medtronic, Winner Medical Group, Hollister, Lohmann & Rauscher, Advanced Medical Solutions, Welcare Industries, MiMedx Group, Mölnlycke Health Care, BSN Medical

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it