Wound Dressing Market Research Report : Size, Share, Growth Factors, Analysis and Factors 2024by VynZ Research Marketing Research Consultant
The global wound dressing market is predicted to grow at 5.7% CAGR during the forecast period with the market size reaching USD 14.3 billion by 2024. Chronic wound imposes a burden on an individual and the healthcare system.
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1) Insight by Product
This segment is divided into innumerable subdivision. However, following are the major dominant ones:
- Wound Contact Layers
- Abdominal Pads
- Industry Dynamics
1) Growth Drivers
Factors that have been acting as the driving factors for the growth of this industry are:
i. Expanding the geriatric population
ii. Mounting government initiatives
iii. Escalating occurrence of diabetes
iv. Technological advancement in wound dressing
The major challenges faced by the key players in this industry are:
i. High cost of technologically advanced products
ii. Incompetence of traditional wound dressing to treat acute wounds
3) Industry Ecosystem
Different products of wound dressings such as advanced and traditional products contributed to the wound dressing market size. The market has witnessed significant demand for advanced wound dressing over the last few years due to escalating occurrence of diabetes-associated ulcers, pressure ulcers, and venous leg ulcers and the mounting need for inventive & innovative wound dressings for the treatment of such wounds.
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- Asia Pacific — Japan, China, India, Australia, South Korea, and Rest of Asia-Pacific
- North America — US, Canada, and Mexico
- Europe — UK, Germany, France, Italy, Spain, and Rest of Europe
- Rest of the World – Brazil, South Africa, Saudi Arabia, U.A.E., and Others
Geographically, North America is the largest wound dressing market as in the region the occurrence of diabetes is augmenting. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2015 approximately 23.1 million people in the U.S. had diabetes.
The Key players in global wound dressing market are: Acelity L.P., Inc., Integra Lifesciences Holdings Corporation., Medline Industries, Inc., Smith and Nephew PLC, Mölnlycke Health Care, Medtronic Plc., ConvaTec, Inc., 3M Company, Coloplast Corporation, and Hollister, Inc.
Created on Nov 22nd 2018 04:54. Viewed 448 times.