Demand for Wound Dressing and Impact of COVID-19……..


Global wound dressing market was valued at USD 9.16 billion in 2014 and is estimated to reach USD 12.9 billion with a lucrative CAGR of 4.4% from 2015 to 2022. Rising prevalence of conditions such as leg ulcers, venous stasis ulcers, pressure ulcers, and diabetic ulcers, that require lesion management, are anticipated to boost global wound dressing market over the forecast period. Additionally, the growing incidences of burns and lesion infection are also expected to demand advanced injury treatment products, such as wound dressing market in coming years. Wound dressing products, with capabilities of faster health recovery from various ulcers disorders, are preferred by patients and healthcare practitioners globally.
With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.
Rising occurrences of sports injuries and increasing medical expenditure incurred by the regional government are also anticipated to boost demand for wound dressing products. The aging population is more susceptible towards diabetic ulcers, foot ulcers, and lesions. Growing geriatric population, rising health awareness, and increasing disposable income are encouraging the consumer to spend a considerable amount on medical facilities, thereby boosting market growth. Evolution of innovative technologies and their applications such as electrical stimulation, metal/alloy bandages, electromagnetic therapy and nanotechnology therapy are projected to drive the wound dressing market over the forecast period.
Key players of the wound dressing market include 3M Healthcare, ColoPlast, Medline Industries, HARTMANN, BSN Medical, Medtronic Plc, Smith & Nephew, ConvaTec, Derma Sciences and Systagenix.
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Advanced wound products segment includes antimicrobial, active and moist dressings that dominated the global wound dressing market with 56.1% revenue in 2014. This is attributed to cost-effectiveness, improved utility, and increasing usage of the products. Antimicrobial products segment, which encompasses silver and non-silver wound dressing products, is anticipated to exhibit significant growth owing to its associated benefits of wide availability, faster healing rate, and ease of usage. The moist dressing was the leading advanced product segment in 2014 due to its high absorbance capacity to keep lesions dry and clean.
North America was identified as the most lucrative wound dressing market and accounted for over 35.0% of the total revenue in 2014. Growing base of aging population with rising chronic lesions disorders, rising health awareness, and increasing preference for home healthcare services have boosted the market growth for the region and is expected to grow at a significant rate over the forecast period.
The Asia-Pacific wound dressing market is expected to exhibit a considerable growth in the coming years, owing to rising number of advanced healthcare infrastructure, high unmet needs for medical facilities, burgeoning population, rising awareness level and high purchasing power of the consumers. The government is also taking various initiatives to support healthcare market, thereby boosting wound dressing market in the region.
Major market participants include ColoPlast, Systagenix, 3M Healthcare, BSN Medical, Convatec, Medline Industries, Smith & Nephew, Derma Sciences, and Medtronic. Innovation in product development and M&A are some strategic initiatives adopted by players to have a competitive advantage over others. In November 2014, BSN Medical has acquired Sorbian, to broaden their product portfolio related to wound care industry.
The global wound dressing market size was valued at USD 9.16 billion in 2014 and is expected to grow at a CAGR of 4.4% over the forecast period. Wound infection is a major safety concern for patients as well as for healthcare professionals globally, thus wound care is essential to reduce infections and promote well-being of patients. Rising incidence of diseases such as pressure ulcers, diabetic ulcers and venous stasis ulcers is likely to result in a growth in demand for advanced wound care products for treating these conditions. Wound dressing helps to improve the overall well-being of patients affected from the aforementioned disorders.
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Additionally, as per the WHO, burns result in around 180 000 deaths each year. The major incidence of these injuries occur in low and middle income countries, thus the rise in the awareness and income of these countries is expected to positively impact the market growth over the forecast period.
According to estimates published by the WHO, the global base of population pertaining to the age group 60 years and above is expected to rise by 841 million in 2014 to reach 2 billion in 2050. The people of this age group are expected to experience a growth in the prevalence of chronic wounds such as venous stasis ulcers and pressure ulcers. Moreover, the skin of older people is easily damaged, their cells do not multiply quickly and might not have required response to stress in terms of gene upregulation of stress related protein. Therefore, this population is highly susceptible to injuries and wounds, which may in turn may drive market growth.Rise in awareness among the patients towards personal hygiene is also propelling the demand for wound care management. Patients are now more aware of their health issues and are actively seeking physician’s advice at an early stage. Moreover, growth in per capita healthcare expenditure in the recent years and the growth in disposable income of people are encouraging people to spend substantial amount on healthcare, thereby boosting the market growth.
Grand View Research has segmented the global wound dressings market on the basis of products and region:
Wound Dressings Market Product Outlook (Revenue, USD Billion, 2012 - 2022)
·         Traditional
·         Advanced
o    Moist
o  Foam
o  Alginate
o  Film
o  Hydrocolloid
o  Hydrogel
o    Antimicrobial
o  Silver
o  Non-Silver
o    Active
o  Biomaterial
o  Skin-substitutes
Wound dressings market Regional Outlook (Revenue, USD Billion, 2012 - 2022)
·         North America
·         Europe
·         Asia Pacific
·         Row
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.




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