Rapid and proper healing is important in the treatment of skin wounds. The dressing achieves the functions of the natural skin by protecting the wound area from the bulk loss of tissue and creating an effective barrier to outside contaminants without increasing the bacterial load on the wound surface. There are many wound dressings available on the market which can be used in the healing process. Different dressings have been used according to the condition of the wound and the phases of wound healing. Biodegradable polymers are being widely used in drug delivery and also in wound healing. These polymers that are applicable as a wound dressing protect the wound site against unwanted external effects, inhibit wound contraction, and, if possible, stimulate the healing process. Micro- and nanoparticulates are currently being evaluated as a potential drug delivery in clinical applications. Growth factors also play a vital role in wound healing. Polymers used in wound healing act as sustained release vehicles for growth factors. Controlled release of growth factors from microspheres has provided a higher degree of healing in the wound areas. This review is intended to provide information regarding the various formulations and microparticulate systems used in wound healing.