ALBANY, New York, July 26, 2016 /PRNewswire/ --
MRRSE has released a new market report titled "Wound Dressings Market (Traditional Wound Dressings: Wound Closure Products, Basic Wound Care, Anti-infective Dressings; & Advanced Wound Dressings: Films, Foams, Hydrofiber, Hydrocolloids, Hydrogels, Collagen, Alginates) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020". According to this report, the global wound dressings market is poised to expand from a value of US$7.53 billion in 2013 to US$10.16 billion in 2020, at a CAGR of 4.5% from 2014 to 2020.
In 2013, the global wound dressings market was worth over US$7.5 bn and by 2020, the market is projected to be worth more than US$10.1 bn. Some of the key factors driving the global wound dressings market are the rising geriatric population and surge in chronic conditions. Moreover, the faster healing time related to wound dressings will favor their use among ICU and emergency care staff, in turn driving the overall wound dressings market. Additionally, the rising patient awareness, growing healthcare expenditure, and increasing incidence of wound infections will promote the sales of wound dressings.
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Traditional wound care practices have been followed since the earliest of human civilizations. These practices were not complete, as these did not provide adequate condition for the growth of new skin cells. It was recently discovered by modern science that moisture and proper aeration is necessary for adequate growth of underlying epidermal or endoderm cells. This not only helped the wound heal faster, but also decreased discomfort to a large extent. Currently, consumers of wound care products are not limited to trauma patients or household accidental cases, but include the diabetic geriatric populations with ulcerative complications. Skin ulcer and tissue necrosis are leading global concerns among the rural and diabetic population with inadequate access to medical care. This major driver led to innovations in wound care technology, which is presently provided by advanced wound management products across the world.
The wound dressings market has been categorized based on types of products and geography. The product segment has been further sub-segmented into traditional wound dressings and advanced wound dressings. The traditional wound dressings segment includes wound closure products (gauze tapes, sponges, surgical cotton swabs and others), basic wound care products, and anti-infective dressings.
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The advanced wound dressings segment includes emerging and advanced wound dressings such as films, foams dressings, hydrofiber, hydrocolloids, hydrogels, collagen and alginates. Foams is the leading sub-segment of the advanced wound dressings segment in terms of revenue. This is because foams are versatile, in terms of applicability and healing, and are readily available in stores. Foams also witnessed the fastest growth due to faster healing and advances within the basic design, thereby offering wide range of wound coverage. Films, collagen, hydrogels and alginates would witness slow growth during the forecast period. Products such as hydrocolloids and hydrofiber would demonstrate impressive growth potential and are expected to continue growing in the near future with increasing prevalence of trauma wounds, burns, injuries, chronic medical conditions such as AIDS, cancer, diabetes and other skin ulcerative diseases.
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Geographically, Asia Pacific was the largest market for traditional wound dressings in 2013. RoW recorded the highest growth in the traditional wound dressings segment and is expected to lead the segment by the end of the forecast period. North America is the largest market for wound dressings and is likely to retain its lead over the next five years. Asia Pacific, however, is projected to be the fastest developing regional segment by 2020 owing to growth of medical tourism, rise in number of surgical procedures, and increasing efforts to generate awareness among healthcare professionals as well as patients.
The competitive landscape of the global wound dressings market is rather fragmented and even small companies have a firm foothold in particular regional and product segments. The players profiled and analyzed in the research report are Molnlycke Health Care, ConvaTec, Inc., B. Braun Melsungen AG, Medline Industries, Inc., Kinetic Concepts, Inc., Systagenix Wound Management, Ltd., Smith & Nephew plc, 3M Health Care, Coloplast A/S, Derma Sciences, Inc., and PAUL HARTMANN AG.
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