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Advanced Wound Dressings Market to Grow at 4.3% CAGR till 2027; Increasing Preference for Telehealth Platforms to Prove Beneficial for the Market

June 04, 2020 | Healthcare

The global advanced wound dressings market size is projected to reach USD 9.02 billion by 2027 on account of rising financial burden of diabetic foot ulcers on healthcare systems worldwide. This analysis is shared in the Fortune Business Insights™ report, titled “Advanced Wound Dressings Market Size, Share & COVID-19 Impact Analysis, By Product (Alginate Dressings, Hydrogel Dressings, Film Dressings, Foam Dressings, Hydrocolloid Dressings, Antimicrobial Dressings, and Others), By Indication (Diabetic Foot Ulcers, Pressure Ulcers, Surgical Wounds, and Others), By End User (Hospitals, Clinics, Homecare Settings, and Others), and Regional Forecast, 2020-2027”. The report states that the market value was at USD 6.45 billion in 2019 and is expected to register a CAGR of 4.3% from 2020 to 2027.


ConvaTec Releases Its Advanced Wound Care Product


In January 2020, ConvaTec, the UK-based medical products company, introduced its novel advanced wound dressing solution called ConvaMax™. Designed as a super-absorber wound dressing, the product is aimed at managing extremely exuding wounds, including dehisced surgical wounds, diabetic foot ulcers, pressure ulcers, and leg ulcers. Furthermore, the ConvaMax™ absorbs and manages excess moisture, maintaining skin integrity and preventing the occurrence of additional infections at the wound site. Development and release of such innovative products is enabling players to diversify their portfolio, deepen their market presence, and expand geographically. Moreover, such innovations are encouraging other players to ramp up their investment in R&D, which is further boosting the advanced wound dressings market growth.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/advanced-wound-dressings-market-100384


Proven Efficacy of Antimicrobial Dressings to Stoke Their Adoption


Antimicrobial dressings are probably the most prominent and most widely accepted form of advanced wound dressings across the globe. These wound care solutions are the most effective in wound infection cases, where the application of antibiotics is necessitated. For example, topical antimicrobial therapies manage and aid the healing of only the wound site and nearby tissues, without having any effect on other parts of the affected body part. Moreover, these therapies, since they are more targeted, decrease exposure to antimicrobials, thereby reducing toxicity and subduing tissue reaction. Lastly, they create a moist environment to enhance wound healing and allow stable of the antimicrobial in the dressing over the wound’s surface. However, many medical experts have advised caution against using antimicrobial dressings as wrong diagnosis of the wound infection could lead to inappropriate application of such dressings, complicating the infection further.


Key Players to Implement Strategies to Consolidate Market Position


The competitive milieu of this market is characterized by rapidly evolving dynamics and contours, shaped by the various measures being taken by key companies to crystallize their hold on the market. While some players are intensely focused on elevating their research capacities through increased R&D investments, other players are actively engaging in collaborations and partnerships to entrench their position in the market. Veterans such as 3M and Coloplast are also taking steps to ensure that their products are accessible to doctors and patients amid the coronavirus pandemic.


Industry Development:



  • September 2018: The New Jersey-based medical technology major, Integra LifeSciences, was handpicked by Healogics for its iSupply program as the main supplier of cellular-based tissue products. The program is designed to provide hospitals and patients access to Healogics’ best wound care solutions available at the companies Wound Care Centers.


List of Players Covered in the Advanced Wound Dressings Market Report:



  • Derma Sciences Inc. (New Jersey, U.S.)

  • Coloplast Corp (Humlebaek, Denmark)

  • Smith & Nephew (London, U.K.)

  • Mölnlycke Health Care AB (Gothenburg, Sweden)

  • ConvaTec Inc. (England, U.K.)

  • 3M (Minnesota, U.S)


Further Report Findings:



  • The alginate dressings segment owned a market share of 11.9% in 2019 and the segment is anticipated to display promising growth during the forecast period on account of the clinical benefits offered by these dressings in exudate management of chronic wounds.

  • Among regions, North America, with a market size of USD 2.52 billion in 2019, is anticipated to lead this market share owing to growing incidence of surgical wounds in the US.

  • In Latin America and the Middle East, companies are looking to establish their presence to cater to the unmet wound care demands of patients in these regions.


Table of Segmentation:











































 ATTRIBUTE



 DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



   2020-2027



Historical Period



  2016-2018



Unit



  Value (USD billion)



Segmentation



By Product



  • Alginate Dressings

  • Hydrogel Dressings

  • Film Dressings

  • Hydrocolloid Dressings

  • Antimicrobial Dressings

  • Foam Dressings

  • Others



By Indication



  • Diabetic Foot Ulcers

  • Pressure Ulcers

  • Surgical Wounds

  • Others



By End User



  • Hospitals

  • Clinics

  • Homecare Settings

  • Others



By Geography



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • The Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)


Advanced Wound Dressing Market
  • PDF
  • 2019
  • 2016-2018
  • 130

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