Rising Incidence of Chronic Diseases to Propel Global Wound Dressing Market

The global wound dressing market is expected to exhibit a steady growth in the forthcoming years. The market’s vendor landscape is currently quite dynamic and is featured of high competition. Prominent market players are focusing on strategies such as mergers and acquisitions and launch of new products in order to foray into the competition. Recently, BSN Medical acquired Sorbion, with the aim of broadening their product portfolio. Also, 3M Healthcare acquired a medical corp. called Ivera, which manufactures various healthcare products and devices. Some of the prominent players in the global wound care dressing market are Derma Sciences, Inc., 3M Healthcare, Braun Melsungen AG, Kinetic Concepts, Inc., and Johnson & Johnson.

The global market for wound dressing is predicted to witness a strong 4.50 percent CAGR from 2014 to 2020. In 2013, the market was estimated to be at USD 7.5 billion and is predicted to touch USD 10.1 billion by the end of 2020. Basic wound care emerged as the leading segment of the global wound dressings segment in 2013. Essential wound care items, for example, cotton dressing and sterile cotton are seeing broad sales in developing countries, as these are definitely not hard to use and need negligible preparing. Based on geographical segmentation, Asia Pacific led global market for wound dressings in 2013. This can be credited to the capital sensitive markets present here and the strong standard establishments that direct the recovering techniques. A large number of patients are not prepared to manage the cost of front line wound care or are basically unwilling to acclimate to more novel wound dressing propels as a result of absence of information.

The market for advanced wound care is easily accessible to consumers on account of the presence of manufacturing plants and wide appropriation directs across the globe, supporting the rise of the global wound dressings market. The rising recurrence of wounds raises the interest for wound dressings, thus emphatically influencing the market. In addition, the rising medical services utilize and developing care among patients about the upsides of wound dressings will moreover vivify the market for wound dressings in the years ahead. On the other hand, factors, for example, the taking off cost of bleeding edge wound dressings may restrain its demand in different Asian markets, therefore contrarily influencing the worldwide market. Patients suffering from chronic diseases such as diabetes will regularly experience multisystem issues and type 2 diabetes caused because of obesity that will influence the wound recuperating process and has suggestions for intense and endless wounds. Consequently, the ascent in the occurrence of diabetes and its related unending wounds will expand the interest for wound dressing treatments, accordingly fueling the market. The existence of a booming populace combined with rising awareness levels and growing disposable incomes are the significant drivers for this area.

Recent advances in germ-free innovation have prompted the improvement of various items that are less hurtful to sound tissue, while being exceedingly viable in obliterating pathogens. Attributable to their advantages which include convenience, and wide accessibility of items; these products are generally accepted. In addition, antimicrobial dressings have expanded the recuperating rate in this way, diminishing the ambulation time. The introduction of novel technological innovations, for example, the launch of cutting edge wound care products such as Negative Pressure Wound Therapy (NPWT), outfitting clinicians with the capacity to mend wounds quicker in this market likewise adds to the vast market potential and growth opportunities. – Transparency Market Research