NEW YORK, Dec. 16, 2020 /PRNewswire/ -- The global anti-biofilm wound dressing marketsize is expected to reach USD 1,154.2 million by 2027 and is registering a commendable CAGR of 9.2% From 2020-2027 The rise in the cases of chronic diseases such as diabetes and cancer is a key factor fueling market growth. Unhealthy lifestyle habits of smoking and alcohol consumption have resulted in the increased prevalence of non-communicable diseases which in turn drives the global market. In addition to this, physicians' higher recommendation for anti-biofilm wound dressing products to treat chronic diseases further drives the market growth. A rise in the incidence of injuries during participation in sports and recreational activities propels the growth of the market. Apart from that, huge investment in healthcare infrastructure, technological advancements, and favorable government policies are also augmenting the growth of the global market for anti-biofilm wound dressing.
Key Trends and Major Developments in Anti-biofilm Wound Dressing Market
The chemical mode of the mechanism is growing substantially with a higher growth rate owing to innovation in anti-biofilm wound dressing products and increased efforts by researchers for boosting R&D activities. Additionally, a large population struggling with chronic diseases is a key factor driving segmental growth.
The acute wounds segment is contributing to the largest revenue in the market for anti-biofilm wound dressing. The growth is attributed to rising incidents of trauma and burns coupled increased count of surgeries conducted across the globe.
The ongoing pandemic of COVID-19 has affected the anti-biofilm wound dressing market. The market has experienced a slight change in the growth rate due to imposed restrictions during the lockdown phase. However, it is expected that post-COVID-19, there will be a huge surge in demand for the market.
A rise in government funding for the improvement of healthcare infrastructure and the initiation of various health awareness programs are anticipated to create huge opportunities for existing market players as well as new entrants to stabilize their position in the market.
The prominent factors favoring the market growth include increasing chronic diseases and innovations in anti-biofilm wound procedures. As per the National Diabetes Statistic Report, 2017 around 100 million people within the U.S. are suffering from diabetes or prediabetes. Moreover, according to the International Diabetes Federation, the incidence of diabetes is predicted to rise from 366.0 million in 2011 to 552.0 million by 2030 worldwide. While prolonged diabetes is the reason for diabetic foot ulcers, the increasing cases of diabetes are predicted to positively influence the expansion of the global market.
In North America, regional marketing holding a dominant position with significant revenue share. The region is predicted to witness substantial growth during the forecast period, owing to an increase in the cases of sports injuries and a rise in the incidents of road accidents. In addition to this, the existence of several leading players in the region is expected to drive regional growth. The Asia Pacific emerged as the fastest-growing region due to improving healthcare infrastructure supported by favorable reimbursement policies. The growing medical tourism industry in Asian countries is also complementing the growth. The availability of advanced treatment procedures at lower rates is making Latin America a preferred destination for medical tourism.
Market Participants Driving the Market Growth
Leading companies operating in the global anti-biofilm wound dressing market include BioMonde, Smith & Nephew PLC, Lohmann & Rauscher & Arobella Medical, Urgo Medical, Mega Pharma (Pvt) Ltd., Coloplast, Molnlycke Healthcare, Monarch Labs, Next Science, 3M, and ConvaTec. Companies are involved in acquisitions, mergers, and partnerships along with a primary focus on increasing manufacturing facilities and strengthening product portfolio to gain a competitive edge.
Supply Side: Healthcare Companies
Demand Side: Hospitals, Clinics, Research Laboratories, Academic Medical Centers
Regulatory Side: World Health Organization (WHO)
Associations and Industry Bodies: Food and Drug Associate (FDA)
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