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Global Wound Dressings Market: Growing Demand for Advanced Wound Dressings to Drive Market at 4.5% CAGR

Article Description

The global wound dressings market is estimated to register a steady growth in the near future with growing popularity of advanced wound dressings. Though traditional wound dressings have been preferred by doctors and patients alike due to low prices and well-defined reimbursement policies, a wide range of novel and improved wound care products in the advanced wound dressings segment will boost the market. The global wound dressings market is estimated to expand at a CAGR of 4.5% during the period between 2014 and 2020 and reach a valuation of US$10.16 bn by 2020.

Browse the full Global Wound Dressings Market report at http://www.mrrse.com/wound-dressing-market

Development of Combination Dressings to Boost Global Wound Dressings Market

The rapid increase in geriatric population across the globe, coupled with surge in chronic diseases, has augmented the growth of the global wound dressings market. Wound dressings lead to faster healing time and hence, favoured among ICU and emergency care staffs. The increasing patient awareness and rise in healthcare expenditure will further propel the growth of the market.

However, high cost of advanced wound dressings might hamper the growth of the market in the near future. Reluctance in adoption of novel wound dressings technologies and unfavourable reimbursement scenario are expected to negatively impact the global wound dressings market. The overall market has a huge opportunity to grow with market players focussing on development of combination dressings.

Demand for Plant-based Antiseptic Dressings & Iodine-based Dressings to Surge In Near Future

Based on product types, the global wound dressings market has been segmented into traditional wound dressings and advanced wound dressings. Traditional wound dressings have been further categorized into wound closure products, anti-infective dressings, and basic wound care. Advanced wound dressings have been sub-segmented into foams, films, hydrofiber, hydrogels, collagen, alginates, and hydrocolloids. In 2013, basic wound care segment led the traditional wound dressings market. Basic wound care products such as sterile cotton and cotton gauze are registering robust sales growth across developing countries. During the period between 2014 and 2020, the anti-infective dressings segment is expected to dominate the market with the surging demand for plant-based antiseptic dressings and iodine-based dressings. These dressings are usually used for chronic wounds and related ski ulcer complications.

In the advanced wound dressings segment, foams was the leading sub-segment in terms of revenue. The high demand for foams can be attributed to their easy availability and versatility in terms of healing and applications. In the coming years, the foams segment is expected to register the fastest growth in the market owing to faster healing and advances within the basic design. The demand for hydrofibers and hydrocolloids is anticipated to be significantly high in the coming years due to the increasing prevalence of burns, injuries, trauma wounds, and chronic medical conditions.   

Asia Pacific to Emerge as Fastest Growing Region in Global Advanced Wound Dressings Market

The global wound dressings market has been segmented into four key regions: Asia Pacific, North America, Europe, and Rest of the World. In 2013, Asia Pacific was the largest market for traditional wound dressings. In the coming years, the demand for traditional wound dressings is expected to be the highest in Rest of the World. In terms of revenue, North America led the advanced wound dressings market in 2013, with the highest demand from the U.S. However, during the period between 2014 and 2020, Asia Pacific is anticipated to register the fastest growth in the advanced wound dressings market owing to increased diabetic population and presence of a large number of wound management products manufacturing units in the region.

Some of the key players in the global wound dressings market are B. Braun Melsungen AG, 3M Healthcare, Systagenix Wound Management Ltd., Derma Sciences Inc., ConvaTec Inc., Johnson & Johnson, Kinetic Concepts Inc., PAUL HARTMANN AG, Mölnlycke Health Care AB, Smith & Nephew plc, and Coloplast A/S.