Diabetes is among the most common chronic diseases and occurs when pancreas is unable to produce the required amount of insulin or when the body is not able to utilize the insulin that is produced. In 2019, the prevalence of diabetes, globally, was 9.3% (463 million people) and is predicted to rise to 10.2% (578 million people) by 2030. While it has become fairly easy to lead a normal life for diabetic patients, developing a diabetic foot ulcer still remains a major complication. The wound affects about 15% of the people suffering from diabetes and 6% of these are hospitalized because of infection or some other complication.
It is important that the ulcer heals quickly in order to minimize the chance for an infection and, wound dressing products are utilized for taking of the same. Wound dressing makes sure that the infected areas is kept covered and moisture is locked in, thereby facilitating faster healing of wounds. Ascribed to these factors, the global wound dressing market is projected to attain a value of $17.3 billion by 2023, increasing from $11.4 billion in 2017, advancing at a 7.2% CAGR during the forecast period (2018–2023).