Over $570 Million Revenue Predicted in Latin American Wound Dressing Market by 2030

The Latin America wound dressing market is predicted to progress at a CAGR of 4.9% between 2020 and 2030 by P&S Intelligence.

The Latin American wound dressing market generated a revenue of $348.6 million in 2019 and is predicted to progress at a CAGR of 4.9% between 2020 and 2030. Furthermore, the market is predicted to attain a valuation of $579.2 million by 2030. The surging geriatric population, the rising incidence of diabetes, the high occurrence rate of trauma and injuries, and the growing prevalence of chronic wounds are the major growth drivers of the market.

The soaring geriatric population in various Latin American countries is a major factor fueling the progress of the Latin American wound dressing market. In this region, the population of people in the age bracket—60 years or above is growing rapidly. As per the United Nations Department of Economic and Social Affairs (UNDESA), as much as 25% of the people in the Caribbean and LATAM regions are predicted to fall in the age bracket—60 years and above by 2050.

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Depending on type, the Latin American wound dressing market is divided into traditional and advanced categories. Between the two, the advanced category is predicted to dominate the market in the forthcoming years, primarily because of the growing incidence of chronic diseases. When application is taken into consideration, the market is classified into acute and chronic wounds. Between these, the chronic wounds division is predicted to record higher growth in the market in the upcoming years.

The market registered the highest growth in Brazil in the years gone by and will exhibit lucrative growth in the country in the future years as well, as per the estimates of P&S Intelligence, a market research company based in India. The major factors fueling the expansion of the market in the country are the growing incidence of chronic diseases such as diabetes and the presence of rapidly improving healthcare facilities and infrastructure.

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Market Size Breakdown by Segment

By Type

  • Advanced
    • Foam
    • Hydrocolloid
    • Film
    • Alginate
    • Antimicrobial
    • Hydrogel
    • Collagen
    • Hydrofiber
    • Wound contact layer
    • Superabsorbent
  • Traditional
    • Bandages
    • Gauzes
    • Sponges
    • Abdominal pads
    • Fixation tapes

By Application

  • Chronic Wounds
    • Diabetic foot ulcers (DFUs)
    • Venous leg ulcers (VLUs)
    • Pressure ulcers
  • Active Wounds
    • Surgical and traumatic wounds
    • Burns

By End User

  • Hospitals and Specialty Clinics
    • Inpatient settings
    • Outpatient settings
  • Home Healthcare
  • Long-Term Care Settings

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