Industry Background:
The wound dressing is the process of healing the disruption of skin epithelial lining or mucosa which results in thermal or physical damage. The wound dressing market is directly related to the incidence of road accidents, rising numbers of diabetes and obesity cases and burning cases. According to the U.S. Department of Transportation's National Highway Traffic Safety data, which was collected from all 50 states and the District of Columbia, 37,133 lives were lost on the U.S. roads in 2017, an increase of 2.1% from 2016. As a result, the demand for wound dressing is expected to increase in this region. It has been observed that increasing advanced wound dressings by the key players in manufacturing market is expected to flourish the global wound dressing market in future. The manufacturers of wound dressing products are expanding their businesses in Asia-Pacific countries as these countries are more prone to chronic ailments
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Hollister Incorporated (United States), DeRoyal Industries Inc. (United States), DermaRite Industries LLC. (United States), ConvaTec Group PLC (United States), Johnson & Johnson (United States), Smith & Nephew plc (United Kingdom), Mlnlycke Health Care AB (United Kingdom), Medtronic plc (Ireland), 3M Company (United States) and Integra LifeSciences Holdings Corporation (United States) |
According to AMA, the market for Wound Dressing is expected to register a CAGR of 5.2% during the forecast period to 2027. This growth is primarily driven by Incidence of Diseases such as Pressure Ulcers, Diabetic Ulcers and Venous Stasis Ulcers. and Rise in Awareness among the Patients towards Personal Hygiene..
Globally, a noticeable market trend is evident Collaboration and Tie Up Of Leading Players.
The Health Care Facilities sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Hollister Incorporated (United States), DeRoyal Industries Inc. (United States), DermaRite Industries LLC. (United States), ConvaTec Group PLC (United States), Johnson & Johnson (United States), Smith & Nephew plc (United Kingdom), Mlnlycke Health Care AB (United Kingdom), Medtronic plc (Ireland), 3M Company (United States) and Integra LifeSciences Holdings Corporation (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In May 2019, 3M Co. acquired Acelity Inc. with an amount of USD 6.7 billion. This acquisition is beneficial in providing advanced wound care technologies and solutions and an excellent complement to health care business.
In February 2019, Axio Biosolutions launched an innovative advanced wound care which is beneficial in comfort and faster healing to patients suffering from chronic wounds such as cavity wounds, skin abrasions and others.
Regulatory Insights:
“According to Food and Drug Administration (FDA) and , it’s denoted that, the Center for Devices and Radiological Health (CDRH) regulated the device does not contain antimicrobial agents that act on the body and that the guidance is not applicable for those products in which the pDADMAC leaches from the substrate. Leach ability testing is required to be submitted in the 510(k) notice for these devices to demonstrate that the drug does not leach onto the patient”.
Influencing Trend:
Collaboration and Tie Up Of Leading Players. and Substitutes Available For wound dressing process.
Market Growth Drivers:
Incidence of Diseases such as Pressure Ulcers, Diabetic Ulcers and Venous Stasis Ulcers. and Rise in Awareness among the Patients towards Personal Hygiene.
Challenges:
The Wound Dressing Won’t Control the Moisture Levels. and Efficiency Loss while Saturated With Exudate.
Restraints:
Reluctance in the Adoption of Novel Technologies at General Practitioner (GP) Level are Prophesied to Obstruct the Growth of the Wound Dressings Market.
Opportunities:
New Safety Features in Gauze and Tulle Offers a Great Opportunity to Most Clinic and Surgical Centers. and Swelling Prevalence of Diabetes Leads to Growth of Wound Dressing Market.
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Wound Dressing Market
- Analysis about New Entrants in Wound Dressing Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Wound Dressing Study Sheds Light on
The Wound Dressing Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Wound Dressing industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Wound Dressing industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.