Global Wound Dressings Market Projected to Touch US$10.1 bn by the end of 2020
Global market for wound dressing is anticipated to witness a 4.50% CAGR from 2014 to 2020. In 2013, the market was valued at US$7.5 bn and is likely to touch a valuation of US$10.1 bn by the end of 2020.
[USPRwire, Mon Jun 10 2019] While traditional wound dressings have been preferred by healthcare practitioners and patients owing to low prices and well-defined reimbursement policies, advanced wound dressings are beginning to gain popularity given the wide range of novel and improved wound care products available today.
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The report on the global wound dressings market is thoroughly studied and analyzed by industry experts. Presenting an overview of the global as well as regional markets, the report is both comprehensive and compact. The structure, elements, dynamics, and scope of the wound dressings market are presented with the help of quantitative and qualitative data.
The global wound dressings market is poised to expand from a value of US$7.53 billion in 2013 to US$10.16 billion in 2020, at a CAGR of 4.5% from 2014 to 2020. The key factors responsible for this growth are rise in chronic diseases, growth of geriatric population, increase in healthcare expenditure and patient awareness, rising incidence of wound infections, and growing demand from emergency care and ICU staff. Investing in emerging economies and focusing on the development of combination dressings is projected to enhance the growth of the wound dressings market.
In contrast, unfavorable reimbursement scenario, high cost of advanced wound dressings, and skepticism expressed by general practitioners over accepting novel technologies are likely to hamper the growth of the global wound dressings market.
Among the two major types of wound dressings, traditional dressings hold precedence over advanced ones in terms of revenue. However, advanced wound dressings are gaining popularity owing to rise in demand and affordability for improved wound care products.
North America is the largest market for wound dressings and is likely to retain its lead over the next five years. Asia Pacific, however, is projected to be the fastest developing regional segment by 2020 owing to growth of medical tourism, rise in number of surgical procedures, and increasing efforts to generate awareness among healthcare professionals as well as patients.
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The competitive landscape of the global wound dressings market is rather fragmented and even small companies have a firm foothold in particular regional and product segments. The players profiled and analyzed in the research report are Molnlycke Health Care, ConvaTec, Inc., B. Braun Melsungen AG, Medline Industries, Inc., Kinetic Concepts, Inc., Systagenix Wound Management, Ltd., Smith & Nephew plc, 3M Health Care, Coloplast A/S, Derma Sciences, Inc., and PAUL HARTMANN AG.
Wound Dressings Market, By Type
- Traditional wound dressings
- Basic wound care
- Wound closure products
- Anti-infective dressings
- Advanced wound dressings
Major geographies analyzed under this research report are:
- North America
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
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