Investments in Emerging Markets Likely to Drive Wound Dressing Market by Transparency Market Research

Wound dressing practices have been present since the earliest of human civilizations in their conventional style. But these practices were incomplete, as these wound dressing methods did not offer adequate condition for the development of new skin cells. It was discovered recently that moisture and appropriate aeration is essential for proper growth of underlying epidermal or endoderm cells. This not only helped the wound to heal faster, but also reduced patient discomfort to a great extent.

At present, the global wound dressing market includes products that are used to treat household accident cases, trauma patients, and diabetic, as well as aged population, who have ulcerative complications. Tissue necrosis and skin ulcer and dominate the global concerns among the diabetic individuals and the rural population with inadequate access to medical facilities. This major driver led to innovations in wound care technology that is provided by advanced wound management products all over the world, at present.

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Global Wound Dressing Market - Segmentation

The wound dressings market has been segmented on the basis of types of products and the geographical distribution.

The product segment has been divided into conventional wound dressings and advanced wound dressings. The conventional wound dressings segment consists of wound closure products such as gauze tapes, surgical cotton swabs, basic wound care products, sponges, and anti-infective dressings. The advanced wound dressings segment consists of developing and advanced wound dressings such as films, hydrofiber, foams dressings, hydrogels, hydrocolloids, collagen, and alginates.

Geographically, the wound dressing market is segmented into four regions: North America, Europe, Asia Pacific and Rest of the World, of which Asia Pacific was the largest market for conventional wound dressings in 2013.

Global Wound Dressing Market - Overview

Rise in aging population is likely to trigger the growth in the wound dressing market. In addition to it, surge in chronic diseases is also expected to enhance the market growth. Faster healing time is gaining favor among emergency care and ICU staff. Increasing patient awareness and healthcare expenses and the growth in wound infections incidences encourage the sale of wound dressings.

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The increasing cost of advanced wound dressings is the main restriction in penetrating into Asian Markets. Reluctance in accepting novel technologies at GP level is creating a negative impact on sales. Additionally, the unfavorable reimbursement situation is also contributing to limit the growth of the global wound dressings market.

The market can benefit by focusing on the growth of combination dressings and investments in emerging economies.

Analyzing the Global Wound Dressing Market

In terms of revenue, foams is the leading product of the advanced wound dressings segment. It has experienced the fastest growth owing the faster healing and innovations within the basic design, offering wide range of wound coverage. Films, alginates, collagen, and hydrogels would show moderate growth during 2014 to 2020. Products such as hydrofiber and hydrocolloids would show remarkable growth potential and are likely to be growing in the future.

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RoW accounted for the highest growth in the conventional wound dressings segment and is estimated to continue to lead the segment by the end of 2020. This is credited to the price sensitive markets and the strong traditional backgrounds that rule the healing procedures in this region. North America, specifically the U.S., was the biggest market for advanced wound dressings in 2013, in terms of revenue. Asia Pacific showed the fastest growth rate and is likely to lead the global wound dressing market by the end of 2020.

Key Players

ConvaTec, Inc., Derma Sciences, Inc., 3M Health Care, Medline Industries, Inc., Kinetic Concepts, Inc., Coloplast A/S, B. Braun Melsungen AG, Molnlycke Health Care, Systagenix Wound Management, Ltd., PAUL HARTMANN AG, and Smith & Nephew plc. are the top companies in the wound dressing market.

The market can benefit from emphasizing on the expansion of novel combination dressings. Focusing on developing economies for advanced wound dressing products and building distribution network to create market presence can also add to the growth of wound dressing market.