Market Research Report
Wound Dressings Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||921268|
|Published||Content info||111 Pages
Delivery time: 2-3 business days
|Wound Dressings Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: January 1, 2020||Content info: 111 Pages||
The major factors for the growth of the wound dressings market include the rising incidences of chronic wounds, ulcers, and diabetic ulcers, and an increase in the volume of surgical procedures worldwide
Chronic wounds lead to complications, such as infection, ulceration, and insufficient blood supply, thus, increasing the wound healing period. The most common chronic wounds include venous ulcers, diabetic foot ulcers, and pressure ulcers. Wound dressing products and appropriate care to address the underlying defect have gained traction in recent times. According to the data given by the World Health Organization, annually, more than 305 million acute, traumatic, and burn wounds are recorded and treated across the world, and it is indicated that this number is on the rise. Added to that, it is also suggested that up to 2% of the population across the developed countries suffer from chronic wounds every year. Thus, rising cases of wounds are expected to drive the growth of the wound dressing market over the forecast period.
As per the scope of this report, wound dressings are used to provide a therapeutic effect, which supports wound healing. Wound dressing products are used for minor injuries, as well as to treat serious problems, such as chronic and complex wounds, like burns. The market is segmented by type, application, and geography.
Advanced Wound Dressing is the Segment by Type which is expected to hold the Largest Market Share over the Forecast Period
Advanced wound dressing focusses on keeping the wound hydrated to encourage healing and is generally prescribed by clinicians after a visit to the doctor or hospital. Advanced wound dressings include film, foam, hydrogel, hydrocolloid, collagen, contact layers, among others. According to EWMA Journal, wounds are a growing health issue, and it is estimated that there are as many as 1.0-1.4 million diabetic foot ulcers (DFUs) and 0.5-1.3 million leg ulcers at any one time in Europe, with 400,000-600,000 new DFUs per year and almost one million new venous leg ulcers (VLUs) each year. The demand for foam dressings has grown significantly in the last few years. These dressings are specifically useful in preventing dressing-related trauma, managing exuding wounds, and reducing dressing discomfort and pain.
North America is Expected to Hold Largest Market Share over the Forecast Period
The United States is expected to be the largest wound dressings market owing to the presence of better healthcare infrastructure and a rising number of surgical procedures in the region. The statistics show that around 30.3 million people in the United States were suffering from diabetes in 2017, and subsequently, the number is increasing. The high number of diabetic population in the country is indicating that there are chances of rising cases of diabetic ulcers, which are showing moderate prevalence. For instance, the National Institute of Health has stated that the incidence of DFU (Diabetic Foot Ulcers) in the United States was 15% in the year 2018. This is augmenting the demand for wound dressing products in the country and ultimately, the market is growing.
The market studied is a moderately consolidated market owing to the presence of a few major market players. The market players are focusing on R&D to develop new and efficient products in the market. Some of the market players are 3M Company, ConvaTec Group PLC, DermaRite Industries LLC., DeRoyal Industries Inc., Hollister Incorporated, Integra LifeSciences Holdings Corporation, Johnson & Johnson, Medtronic plc, Molnlycke Health Care AB, and Smith & Nephew plc