The global wound dressings market is anticipated to expand at phenomenal CAGR over the forecast period (2017 to 2022), according to a report available on Radiant Insights, Inc. Growing requirement for appropriate dressings to cover wounds for better healing is anticipated to propel demand for wound dressings.
Increasing number of road accidents leading to formation of severe wounds are expected to surge demand for wound dressings. Growing cases of diabetes and burn incidences can also lead to deep wounds. This, in turn can augment demand for appropriate wound dressings and lead to growth of market over next few years. Rising adoption of surgeries to get quick relief from pain among patients can stimulate growth of market during the forecast period (2017 to 2022).
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To cater to rising demand for wound dressings, most companies are expected to invest in R&D activities to develop advanced products. For instance, a group of scientists from Xian Jiaotong University in China recently developed new kind of adhesive antibacterial hydrogel that can be used in wound healing treatment. This dressing is predicted to be essential for skin wound healing and its advanced material is likely to offer antibacterial properties and therapeutic effects for better healing. With high adhesion, this hydrogel can quickly seal wounds of any shape. It can provide physical barrier against contaminants while stimulating moist skin conditions. Moreover, it can help stop bleeding and prevent wound infection.
The wound dressings market can be segregated on the basis of application and region. Based on application, the market can be segregated into clinics, hospitals, and homecare. Hospitals segment is predicted to witness significant growth attributed to rising consumption of wound dressings on patients. Majority of wound dressings consumed in hospitals are likely to be among patients who have undergone any surgery. They are presumed to have deep wound which require appropriate dressings to heal. This, in turn can fuel growth of segment during the forecast period.
Regional segmentation includes Europe, North America, Asia Pacific, Middle East and Africa, and South America. In past years, North America dominated the market and accounted for largest market share. Rising number of road accidents coupled with increasing geriatric population can fuel growth of market in the region. In addition, growing number of diabetes and obesity cases coupled with increase in burn cases can augment market growth. Road accidents are expected to be responsible for severe wounds requiring appropriate wound dressings. This, in turn can fuel growth of market in the region over next few years. Diabetes can hamper normal physiological functions in the body, which can lead to delayed wound healing and development of diabetic foot ulcers. Hence, rising cases of diabetes in anticipated to surge demand for wound dressings in the region.
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In Asia Pacific, the market is predicted to grow slow attributed to presence of cost-effective economy in the region. In addition, unfavorable reimbursements scenarios and negative impact of reluctance in adoption of novel technologies can restrict growth of market in the region. However, development of germ-free dressings supported by advancements could make profit making opportunities for vendors. Antimicrobial wound dressings are expected to grow in popularity owing to benefit of telling reduction in ambulation time. Moreover, innovations including negative pressure wound therapy helping with faster healing of wounds can further push growth of market in the region.
Some of the leading companies offering wound dressings are Medtronic, Aspen Surgical, Advanced Medical Solutions, Ahlstrom Corporation.
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