The Advanced Wound Dressing Market To Be Directed By Discreteness Towards Growth

Posted by Merin John on June 1st, 2021

Rising prevalence of chronic and surgical wounds across the world has led to a surge in the demand for advanced wound dressing procedures. Besides, the introduction of new advanced wound dressing products with better functionalities has also aided market growth. These is growing demand for advanced wound dressing products over traditional dressing products for the treatment of chronic wounds.

Increasing investments in new advanced wound dressing product development and growing efforts for their distribution by key stakeholders are major factors expected to surge the growth of the advanced wound dressing market. The global advanced wound dressing market is projected to exhibit a CAGR of 3.5% during the forecast period (2020–2030).

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Companies covered in Advanced Wound Dressing Market Report

•          Ethicon Inc. (Sub. of Johnson & Johnson)
•          Smith & Nephew Plc
•          ConvaTec Group Plc
•          Coloplast A/S
•          3M Co
•          BSN medical GmbH
•          B. Braun Melsungen AG
•          Mölnlycke Health Care
•          Medline Industries Inc

Key Takeaways from Advanced Wound Dressing Market Study

•          Based on product type, the foam dressing segment contributed the highest market share of around 27% to the global advanced wound dressing market in 2019, owing to their potential use in the treatment of chronic wounds.
•          Growing prevalence of chronic diseases around the globe and high adoption of the advanced wound dressing for their treatment are expected to result in a notable market share of the chronic ulcers segment in the advanced wound dressing market.
•          Institutional sales, including hospitals, clinics, ambulatory surgical centers, and long-term care centers, hold around three-fourth of value share in the advanced wound dressing market, due to their high service and increasing patient preference.
•          North America holds the highest revenue share of 43%, and is expected to be the most lucrative region in the global advanced wound dressing market during the forecast period.
•          Reluctant adoption and high cost of the products are factors expected to affect the growth of advance wound dressing, to a certain extent, across the globe.
•          The COVID-19 pandemic will have a mixed effect on the advanced wound dressing market. While non-essential hospital procedures have been put off, those requires advanced wound care dressing will remain in place, thereby aiding market growth to a certain degree.

“Increasing preference of advanced wound dressing products for the treatment of chronic ulcers by clinicians, and continuous focus on the development of advanced wound dressing products with new functionalities by manufacturers, are projected to propel the growth of the global advanced wound dressing market over the coming years,” says a PMR analyst.