Silver Wound Dressings Mark: Increasing Demand for Combination Dressings to Promote Growth with Key Players
Some of the key players in this market are, ConvaTec, Inc., Argentum Medical Smith & Nephew, Kinetic concepts, Medline industries, B.Braun Melsungen, and 3M Company. In February 2014, Argentum Medical, a leader in silver based anti microbial wound dressings signed a deal with Sorbion GmbH & Co. to distribute its product, Silverlon, in Europe. Silverlon is an anti-microbial silver wound dressing product. This deal would increase the presence of the company in European markets and increase revenue.
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The increasing incidences of chronic infected wounds such as diabetic, ulcers and a greater awareness of the beneficial properties of silver incorporated dressings, viz. antimicrobial nature, reduction in healing time and lowered infection risks are the major drivers of this market. The major restraint for this market is the increasing use of antimicrobial and tissue engineered advanced wound management dressings as well as lack of efficacy, high cost in development, research and safety issues associated with silver wound dressings. With a high population base, lower bed capacity in hospitals, a higher inflow of medical tourists and an increasing awareness for advanced wound care therapies, silver based dressings would be in high demand in the Asia Pacific region.
Silver Wound Dressings Market segmentation based on type of silver wound dressings
Silver wound dressings are of different types such as Silver alginate dressings, Hydrofibre silver dressings, Silver Nitrate dressings, Nano crystalline silver dressings, Silver Plated Nylon fiber dressings and others. The silver wound dressings, which can be used for multiple types of wounds, would command a major market share.
Silver Wound Dressings Market segmentation based on treatment of various ailments
Silver Wound Dressings are used for treating Ulcers, Burns, Lacerations and cuts, Skin Grafts, Surgical wounds, etc.The major application would be for diabetic foot ulcers. According to the CDC from 1980 to 2011, the incidence of diabetes among Americans has tripled from 5.6 million to 20.9 million. It is estimated that the risk for developing ulcers in diabetic patients in their lifetime is up-to 15%. This would lead to increased demand for advanced wound dressings.
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Silver Wound Dressings Market segmentation by Geography
This market is segmented geographically into North America, Europe, Asia Pacific, and RoW. Currently, North America accounts for the largest share in this market, mainly due to an aging population and increasing cases of diabetic foot ulcers. However, other markets such as Europe and Asia Pacific are emerging markets due to increased awareness for advanced wound care and the rising cases of chronic wounds, mainly due to diabetes.
High level Analysis
According to Porters five-force model, the buyers bargaining power in this market is high, as there are a wide range of silver wound dressings currently available. The threat of substitutes is high due to a variety of treatment options and products available for advanced wound management. The research analyzes the market strategies implemented by the market players. The key areas of investments have been described based on growth in applications of silver wound dressings. SWOT analysis provides a broadened view of strategic business decisions.
• In-depth analysis of drivers, restraints would identify future economic opportunities
• Segmentation of market by applications, type and geography would help in identifying growth prospects
• Analysis of competition in the market enables strategic decision making
• Overall analysis of key products identifies the future scope of this market
• Porters five force model and SWOT analysis would help in business development
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