What's driving the Latin America Wound Dressing Market Share? | Key Players are Hollister Incorporated, Johnson & Johnson, Smith & Nephew, Acelity, BSN medical, HARTMANN GROUP, Coloplast A/S

The Latin American (LATAM) wound dressing market is expected to reach $400.9 million by 2024. The market growth is primarily driven by growing geriatric population, rising prevalence of diabetes, high rate of brain injuries, and increasing number of patients with chronic wounds in the region.

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Wound dressings are used for the treatment and management of chronic and acute wounds. Chronic wounds require higher application of wound dressings as compared to acute wounds, mainly due to the greater severity of these wounds. Based on application, the category of chronic wound dressings is estimated to generate revenue of approximately $200 million in the Latin American wound dressing market in 2018. The Latin American acute wound dressing market is further bifurcated into burns and surgical and traumatic wounds, of which the category of surgical and traumatic wound dressings is estimated to hold the larger market share, accounting for 91.0%, in 2018.

Hospitals and specialty clinics; home healthcare; and long-term care settings are the major end users in the Latin American wound dressing market. Hospitals and specialty clinics, as an end-user category, hold the largest share in the regional market. The category is estimated to contribute 70.4% revenue to the market in 2018. This can be mainly ascribed to the presence of a vast patient pool in hospitals and clinics for the treatment of injuries.

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The increasing number of product approvals is paving the way for various market players to expand their product portfolio in the Latin American wound dressing industry. For instance, in July 2018, ConvaTec Group Plc received the United States Food and Drug Administration (USFDA) approval for its AQUACEL Ag Advantage dressing for wound management. Based on the Hydrofiber technology, the dressing offers improved antimicrobial performance in wound treatment. Till July 2018, AQUACEL Ag Advantage dressing was available in the European and Asia-Pacific markets, wherein it was marketed as AQUACEL Ag+ Extra dressing. Its commercial availability in the U.S. was expected to commence alongside product evaluations in October 2018.

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Some of the key players operating in the Latin American wound dressing industry are:
1- Hollister Incorporated
2- Johnson & Johnson
3- Smith & Nephew
4- Acelity
5- BSN medical
6- HARTMANN GROUP
7- Coloplast A/S

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