Probably unnecessary.  In first aid, your objective is to stop the bleeding.  

For this, you will use a pressure dressing, or (rarely) a tourniquet.  Leave final assessment , debridement, and cleaning to the ER.

For significnt bleeding, a 3"elastic wrap works quite well and has many other first aid applications, although a trifle bulky.

I don't see what this dressing will do that a typical band aid won't accomplish....