Wound healing is a complex process that requires a proper environment to promote the healing process. With the advancement in medical technology, more than 3000 products and different types of wound dressing are being used currently in the medical arena. A wound dressing is performed via direct contact on a wound that supports the healing process and further prevents infections and other complications. The different types of wound dressings are being used based on the wound type with the aim of infection control and quick healing. Moreover, wound dressing helps in several other aspects such as preventing bleeding & start clotting, wound debridement, and absorbing excess plasma, blood, or other fluid.
• Increasing Prevalence of Diabetes: Diabetes is one of the life-threatening chronic diseases with no specialized cure. Some major complications are associated with diabetes including heart attack, stroke, leg amputation, nerve damage, and chronic wounds such as diabetic foot ulcers. As per the study conducted by the International Diabetes Federation (IDF), approx. 46 million diabetic patients were reported in 2017, in North America, which was expected to reach 62 million in 2045. Besides, the data reported nearly 425 million people were living with diabetes in 2017, which is expected to reach 629 million by 2045. Thus, increasing diabetes helps to upsurge the growth of the wound dressings market over the forecast period.
• Increasing R&D Spending by Pharmaceutical Companies: Rising R&D spending by pharmaceutical companies has grown over the years. According to a report of Pharmaceutical Research and Manufacturers of America (PhRMA), the R&D expenditure of biopharmaceutical companies has increased from US$ 49.6 billion in 2012 to US$ 58.8 billion in 2015. Thus, the wound dressings market is expected to grow during the forecast period significantly.
• Rising Burn Cases: According to the World Health Organization (WHO) 2018, approx. 180 000 deaths are estimated due to severe burn injuries every year worldwide. The leading cause of morbidity is the non-fatal burns, which is a global public health problem. The majority of the severe burn cases mostly occur in low- and middle-income countries and nearly two-third of cases occur in South-East Asia and WHO African regions. Thus, owing to the above-mentioned factors, the wound dressings market is expected to significantly grow in the forecast period.
• Technological Advancements In Wound Dressings.
• Geography: Asia Pacific is a very lucrative market for wound dressings since it holds almost XX of the overall market with a growth rate of XX% PA. Affordability, increasing prevalence of diabetes, increasing spending on chronic and surgical wounds, and increasing number of road accidents, etc. are some of the reasons why this region is seeing huge increase in the biochips market. Moreover, the growing domestic market and its pipelines are further opening up new avenues for the biochips market in the APAC.
Many companies in APAC are exploring an increase in approvals and exports to the EU and the US. Some recent updates include the following:
• In November 2016, Global Health Solutions has received an FDA approval for its PolyPlex Wound Dressing, a petrolatum based topical gel indicated for acute and chronic wound management.
• In February 2019, AxioBiosolutions has launched MaxioCel, a next generation wound care dressing made of chitosanin, a cutting-edge innovation in advance wound care.
• In August 2020, UPM Biomedicals has launched its first clinical product to market, FibDex wound dressing made from nanofibrillar cellulose.
Companies covered in this section include Smith & Nephew Plc, 3M, Integra LifeSciences Holdings Corporation, Mölnlycke Health Care AB, B. Braun Melsungen AG, DeRoyal Industries, Inc., PAUL HARTMANN AG, Cardinal Health, Lohmann & Rauscher International GmbH & Co. KG, and Advanced Medical Solutions Group plc
Wound Dressings Market can be segmented into the following:
• Advanced Wound Dressings
⋅ Wound Contact Layers
⋅ Other Advanced Wound Dressings
• Traditional Wound Dressings
⋅ Basic Wound Care
⋅ Wound Closure Products
⋅ Anti-infective Dressings
By Wound Type
• Surgical & Traumatic Wounds
• Diabetic Food Ulcer
• Venous Leg Ulcer
• Other Wound Types
By End User
• Hospitals & Clinics
• Home Care Settings
• Other End Users
Africa and Middle East
• Saudi Arabia
• South Africa
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