Wound Dressing Market Industry Insights, Size, Share, Analysis and Forecast till

Posted by Pareesh on March 4th, 2019

According to the American Diabetes Association (ADA), around 1% to 4% of the diabetic population in the U.S are estimated to be affected by diabetic foot ulcers annually. Moreover, according to Diabetes UK, prevalence of diabetic foot ulcers in diabetic patients is estimated to be 2.5%, which accounts for around 86,000 people in the U.K. in 2015. Moreover, according to the organization, around 7,400 leg, foot or toe amputation procedures are conducted every year in England. As per the estimation by The American Journal of Internal Medicine, around half of the diabetic population in Canada have at least one hospitalization in their lifespan for the treatment of diabetic foot infection.

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According to the World health Organization (WHO), there are nearly 265,000 deaths globally every year due to burns. Moreover, as per WHO, over 100,000 people in India suffer from burns every year, while burns are the second most common injury in Nepal accounting for 5% of disabilities.

Considering the high prevalence and incidence rate, market players have opportunities to capitalize on different patient groups in the wound dressings market.

According to 2015 report by The College of Podiatric Medicine, 9%-20% of patients in the U.S. with diabetic foot ulcers require hospitalization. Furthermore, the report states that cost of treatment of diabetic foot ulcer increase with age and the cost of treatment with advanced wound dressings sometimes may be double than conventional wound dressings. Higher cost of treatment with advanced wound care is also associated with comorbidities associated with diabetic foot ulcer. Moreover, according to WHO, burn injuries are more prevalent in low and middle income countries. Therefore, companies need to accordingly develop cost-effective products that cater the large patient population in low and middle income countries in Asia, Africa and Latin America. Wide availability of affordable products would fuel growth of the wound dressings market in these regions during the forecast period.

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Most conventional wound dressings take longer to heal wounds as compared to advanced wound dressing products such as anti-infective wound dressings that are widely used post-operation to prevent risk of any hospital acquired infections (HAIs). Due to their higher functional efficiency and effectiveness, advanced wound dressings are fast replacing conventional wound dressings. Increasing incidence of burns, trauma wounds and injuries, and diabetic ulcers are expected to drive growth of the global wound dressings market in the foreseeable future.

Rural areas in emerging economies of Asia, Latin America and Africa regions provide a highly lucrative and largely untapped market for market players to capitalize upon. Practice of using cotton gauze and sterile cotton is still high in emerging economies such as India, Brazil, China, and Indonesia, owing to it being easily available and being relatively inexpensive. Therefore, costlier advanced wound dressings are facing the heat of lower demand in these economies. However, with high economic growth, increasing government focus towards improving the healthcare infrastructure, and growing efforts by major players to introduce low-cost advanced products is expected to pave way for strong growth of major players in the wound dressing market.

Some of the major players present in the global wound dressings market include Smith & Nephew plc, B. Braun Melsungen AG, Acelity L.P. Inc., Coloplast A/S, Organogenesis Inc., Mölnlycke Health Care AB, 3M Company, Derma Sciences, Inc., Medtronic, Medline Industries Inc., Alliqua BioMedical, Inc., MiMedx Group, Inc

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