The global wound dressings market is expected to reach USD 12.9 billion by 2022, according to a new report by Grand View Research Inc. Rising incidences of diseases such as leg ulcers that require thorough lesion management are expected to boost wound dressings market over the forecast period.
Additionally, the growing prevalence of lesion infection and burns globally is expected to foster growth of this industry. Rising geriatric population base boost demand by widening the patient base as people at this age are more susceptible towards diseases like lesions, foot ulcers, and diabetic foot.
Increasing incidences of sports injuries and the rising medical budgets by the sports centers, institutions and schools are expected to accentuate the industry’s growth over the coming seven years. Emergence of new technologies and their applications in products such as nanotechnology and electromagnetic therapy are expected to improvise lesion management thereby, boosting the overall wound dressings market.
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Further key findings from the report suggest:
- Advanced wound products, which encompass moist, antimicrobial, and active products dominated the overall industry at over 56.1% of revenue share. This can be attributed to their high usage due to improved efficiency and cost-effectiveness.
- Moist dressings was the largest advanced wound product segment in 2014 owing to the associated benefits such as creating & maintenance of wet environment around the injury, which assists in healing.
- On the other hand, the antimicrobial product segment, which consists silver and non-silver based products, is expected to exhibit fastest growth over the forecast period due to their benefits, which include easy usage and wide availability.
- North America dominated the overall wound dressings market in terms of revenue in 2014 at almost 35.1% majorly due to high awareness amongst people about personal hygiene coupled with high geriatric population base.
- The Asia Pacific wound dressings market is expected to grow at the fastest rate during the forecast period as a consequence of high unmet needs in this region coupled with improving healthcare infrastructure as a result of government initiatives.
- Key players of the wound dressings market include 3M Healthcare, ColoPlast, Medline Industries, HARTMANN, BSN Medical, Medtronic Plc, Smith & Nephew, ConvaTec, Derma Sciences, and Systagenix.
- Mergers & acquisitions and new product development are two key sustainability strategies adopted by these players.
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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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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