SEATTLE, April 15, 2021, (MEDGADGET) — Global Wound Dressing Market
The global wound dressing market, by product type (Traditional and Advanced (Alginates, Collagens, Films, Foams, Hydrocolloids, Hydrogels, and Wound Contact Layers)), by property (Antimicrobial and Non-antimicrobial), by application (Surgery, Trauma, Burns, Chronic Wounds, and Others), by end user (Hospitals, Clinics, Ambulatory Surgical Centers, and Others), and by region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was evaluated at US$ 6,956.40 million in 2018. The market is estimated to register a robust CAGR of 6.2% over the forecast period (2019-2027).
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Crucial factors such as the rising prevalence of chronic wounds, higher funding for research & development of new wound dressing equipment, technological advancements, novel product launches, and business growth strategies like mergers & acquisitions adopted by market players, are some of the essential factors driving the growth of the global wound dressing market.
Manufacturers are deeply focused on developing and launching innovative wound dressing and management equipment in order to gain a competitive edge in the global market. For instance, in February 2019, Axio Biosolutions, an India-based medtech company, launched MaxioCel in the country. The product is a next-generation wound care dressing tool made of chitosan, and is said to offer faster healing and comfort to patients suffering from chronic wounds, such as pressure ulcers, diabetic foot ulcers, venous leg ulcers, cavity wounds, skin abrasions, donor sites, and post-operative surgical wounds.
In May 2019, 3M acquired Acelity LP, a company focused on advanced wound care and specialty surgical applications. The acquisition helped 3M expand its medical solutions, as well as surgical wound dressing solutions business. Increasing product launches are expected to further accelerate the global market growth in the near future. Crawford Healthcare received the U.S. FDA approval for its wound dressing product, called KerraCel AG, in February 2017. This product is known to be the only one infused with silver, which helps kill bacteria that are resistant to antibiotics. Many other antimicrobial wound dressing products by Crawford Healthcare are known to be containing honey, iodine or polyhexamethylene biguanide (polyhexanide, PHMB), which aid in effective wound management. Hence, such innovative therapies for wound dressing are poised to drive the global wound dressing market growth.
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Reportedly, Healogics, Inc. initiated an integrated wound care community model in 2014, which was meant to provide services, such as inpatient consultation and safe transition of patients out of hospitals. Therefore, such integrated approaches taken up by manufacturers in this market are believed to significantly foster the global market growth.
Key Market Developments:
- Among the various product types, the advanced wound care segment is foreseen to be holding a major revenue share by 2027. Technological enhancements in advanced wound care boost the global demand for it. For instance, in June 2019, UPM, a Finland-based company, launched the advanced wound care product, called FibDex, in Europe. It is the first wound dressing product that is made from wood-based nanofibrillar cellulose, which is biocompatible with human cells and tissues.
- The well-known players operating in the global wound dressing market include 3M Company, Coloplast A/S, Derma Sciences, Inc., Smith & Nephew Plc, Mölnlycke Healthcare, Medtronic Plc, Medline Industries, Inc., Organogenesis Inc., Integra LifeSciences Corporation, and MiMedx Group, Inc.
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