LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global wound dressings market predicts a CAGR of around 5% during the period 2018-2022.
The report segments the global wound dressings market by product (traditional wound dressing and advanced wound dressing) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global wound dressings market, according to Technavio healthcare and life sciences researchers:
- Increasing prevalence of acute and chronic wounds: a major market driver
- Increasing demand for combination dressings: a key market trend
- The Americas dominated the global wound dressings market with 44% share in 2017
- Acelity, Coloplast, ConvaTec, Mölnlycke Health Care, Smith & Nephew, and Integra LifeSciences are some of the players in the market
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Increasing prevalence of acute and chronic wounds: a major market driver
Increasing prevalence of acute and chronic wounds is one of the major factors driving the global wound dressings market. The rising prevalence of acute wounds such as surgical wounds and traumatic wounds such as abrasions, punctures, lacerations, and incision and chronic wounds such as venous ulcers, diabetic ulcers, and pressure ulcers and the increasing geriatric population is anticipated to increase the demand for wound dressings. More than 250 million acute wound cases, approximately 50 million traumatic wound cases, and more than five million burn cases are recorded and treated every year globally.
According to a senior analyst at Technavio for research on orthopedics and medical devices, “In 2016, the global prevalence of surgical wounds was more than 135,000. The annual number of deaths caused by burns is more than 200,000 across the globe. Most of these deaths occur in low and middle-income countries, particularly in Southeast Asia. Burn injuries are highly prevalent in countries such as India, Bangladesh, Nepal, and the US. According to the HCUP, in the US, nearly 53,220 burn-related inpatient stays were recorded in 2013, out of which 4,070 patients had first-degree burns, 25,480 patients had second-degree burns, 11,055 patients had third-degree burns, and 7,535 patients had unspecified burns.”
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Americas: largest wound dressings market
The global wound dressings market was dominated by the Americas in 2017, accounting for a share of more than 44%. It was followed by the EMEA and the APAC region. The Americas accounted for the largest market share because of the high prevalence of acute and chronic wounds, high adoption of technologically advanced products, availability of advanced healthcare infrastructure, and increased healthcare expenditure. But APAC is expected to have a faster growth rate during the forecast period due to the high patient base, huge untapped market potential, growing economy, increasing healthcare spending, rapidly improving healthcare infrastructure, and growing medical tourism.
Increasing demand for combination dressings: a key market trend
Antimicrobial agents such as silver, iodine, and honey are increasingly becoming important in the global wound dressings market. Several advanced wound dressings are incorporating these antimicrobial agents to improve the outcome of the treatment of wounds. These dressings comprise two or more types of chemical and physical properties to ensure optimum functionality. These dressings are versatile and convenient to use in both partial and full-thickness wounds. Many end-users are increasingly adopting combination dressings because of their various advantages such as easy availability and ease of use. These dressings combine physically distinct components into a single dressing to provide multiple wound care functions such as absorption, adhesion, and protection from bacteria.
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