The vendor landscape of the global wound dressings market is quite dynamic and features high competition, states Transparency Market Research (TMR). Key players within the market are focusing extensively on launching new products and participating in mergers and acquisitions. Key players operating in the market are: 3M Healthcare, Derma Sciences, Inc., Braun Melsungen AG, Johnson & Johnson, and Kinetic Concepts, Inc.
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According to TMR’s report, the global market for wound dressing will cross US$10.1 bn by the end of 2020 expanding at a modest CAGR. On the basis of geography, it is predicted that the market for wound dressings will lead in Asia Pacific. The high cost of novel wound dressing will propel the use of basic wound care dressings, which is boding well for the market. on the basis of type of wound dressing, the basic wound dressing segment is leading. The essential wound care items such as cotton dressing and sterile cotton are witnessing high demand in developing nations. Some of the advantages of these wound care items are ease of use and elimination of the requirement for any sort of prior preparation.
A TMR analyst said that, “the growing number of manufacturing plants of wound dressings have ensured that advanced wound care is available for people easily and this is acting as a key driver for the market’s growth.” The growing incidences of recurrence of wounds is a major reason behind the high demand for wound dressings market. The growing number of medical services which make use of wound dressings is also helping the market to grow.
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Another major factor which is helping the market to grow is the increasing incidences of diabetes. Patients suffering diabetes regularly experience multisystem issues, which impact wound recuperation, leading to endless and intense wounds that most definitely require the use of wound dressings. Thus, diabetic patients are one of the leading end users of wound dressings. The prevalence of diabetes and similar chronic diseases will therefore, create a heightened demand for wound dressings. On the other hand, the high cost of bleeding edge wound dressings will restrict its demand, especially in cost sensitive areas of Asia.
However, recent advancements have led to the development of germ-free dressings which are very beneficial and much in demand. The realization that a great amount of ambulation time is reduced thanks to antimicrobial dressings will make these wound dressings extremely popular. Also, the recuperating pace is greatly enhanced with the help of such advanced, antimicrobial dressings. The introduction of other novel innovations such as the Negative Pressure Wound Therapy (NPWT), which helps in healing wounds quicker will drive the growth prospects of the global wound dressings market.
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