Wound Dressing Market Covering Competitive Scenario & Market Dynamics with Top Players 3M, Coloplast A/S, Derma Sciences,Smith & Nephew, Medtronic, Mölnlycke Healthcare, Medline

Diabetes UK estimates that diabetic patients are 30 times more likely to have an amputation compared to general population. With such high probability, a large number of amputation surgeries are witnessed each year, subsequently requiring effective wound dressing to prevent infection post-surgery. Wound dressings are broadly classified into three categories, namely active, passive, and interactive dressings. While passive wound dressings have protective function, active wound dressings promote healing by creating a moist wound environment. Thus, demand for advanced wound dressings such as hydrogels and foams would subsequently increase. Interactive dressings on the other hand, create a moist wound environment and also interact with the wound bed components to enhance wound healing. Dressings such as hydrogels and alginates require secondary dressing, as they are permeable and non-occlusive. Composites multi-layer dressings are relatively expensive and can be used for primary and secondary wound dressing. The global wound dressings market is expected to be driven by increasing demand for advanced wound dressings.

The global wound dressings market was valued at US$ 8,269.5 million in 2015 and is expected to witness a moderate CAGR of 6.0% during the forecast period (2016 – 2024).

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.

High cost of products impeding wound dressings market growth

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.

High and ever-prevailing incidence of trauma wounds, injuries, burns and chronic wounds such as diabetic foot ulcers creates a constant and steady demand for wound dressing. Furthermore, wound dressing is an integral part of post-surgery in order to minimize risk of hospital acquired infections (HAIs). Therefore, with increasing surgical procedures, demand for wound dressings is expected to increase consequently during the forecast period (2016-2024). With technological advancements, wound dressings made of various materials such as alginates, collagens, hydrocolloids, hydrofibers, and hydrogels have been commercialized in the wound dressings market. Depending on the condition or wound type, an appropriate wound dressing is selected. Market players such as 3M Company, Coloplast Corp., and Derma Sciences, Inc. are constantly focusing on extensive R&D activities in order to offer cost-effective wound dressing products to further enhance their market presence.

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