Wound Dressings Market is Expected to Experience a Swift Development by 2028

Wound Dressings Market: Overview

• According to Transparency Market Research's latest report on the global wound dressings market for the historical period 2017-2019 and forecast period 2021-2028, rise in prevalence of chronic wounds such as diabetic foot ulcers, pressure ulcers, venous leg ulcers, and other issues caused by various diseases is projected to boost the growth of the global wound dressings market

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Rise in Prevalence of Chronic and Acute Wounds: Key Driver

• Rise in prevalence of chronic wounds such as diabetic foot ulcers, pressure ulcers, venous leg ulcers, and other issues caused by various diseases is expected to fuel the growth of the global wound dressings market during the forecast period. Moreover, rapidly increasing prevalence of diabetes among patients is likely to boost demand for advanced wound dressings.
• Infections such as cellulitis and infective venous eczema, gangrene, hemorrhage, and lower-extremity amputations are among the complications of chronic wounds. Chronic wounds cause disability, and disability worsens wound outcomes, creating a vicious cycle.
• Increase in the number of diabetic patients globally and rise in prevalence of diabetic foot ulcers are major drivers of the global wound dressings market

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Increase in Investments by Key Players in Research & Development of Wound Dressings

• Rise in investments by private players and government organizations in the development of wound dressings is a major factor projected to drive the global market during the forecast period
• The field of medicine is constantly developing, as newer therapies and medicines are launched in the market. Numerous public-private institutes and companies are focused on conducting studies for developing innovative therapies.
• In December 2020, Bayer AG launched a cell and gene therapy platform within its pharmaceutical division. Moreover, growing product pipeline is anticipated to propel the global market over the next few years.

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Increase in Cost of Care of Chronic Wounds

• The primary cost of wound care is hospitalization. Patients are not allowed to leave until their wounds have healed completely. Hence, any delay in wound closure has a significant cost impact in terms of bed days and other resources within the health system.
• Another factor that far outweighs the cost of materials is nursing time. Moreover, rise in prevalence of antibiotic resistance and comorbidities such as diabetes, obesity, venous hypertension, and peripheral vascular disease, drive the cost of wound care. These factors are likely to hamper the growth of the global wound dressings market during the forecast period.

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Wound Dressings Market: Competition Landscape

• This report profiles major players in the global wound dressings market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
• The global wound dressings market is highly fragmented due to presence of a large number of international as well as regional players
• Leading players operating in the global wound dressings market are
o Smith & Nephew plc
o Johnson & Johnson
o B. Braun Melsungen AG
o 3M Healthcare
o Coloplast A/S
o Derma Sciences, Inc.
o ConvaTec, Inc.
o Kinetic Concepts, Inc.
o Mölnlycke Health Care AB
o PAUL HARTMANN AG
o Systagenix Wound Management Ltd, among others

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Wound Dressings Market: Key Developments

• Key players in the global wound dressings market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global wound dressings market.

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