The global wound dressing market was worth $9,989.6 million in 2015 and it is expected to grow at a CAGR of 6.9% during 2016-2022. Advanced and traditional are the two types of wound dressing, where advanced wound dressing had larger market in 2015. Among the various applications of wound dressing, surgical wound segment held the largest share in the global market in 2015.
The global wound dressing market is witnessing high growth due to increasing geriatric population, increasing road accidents and growing chronic wound cases resulting in high demand for such products. In addition, increasing burn cases and growing awareness about wound dressing is also leading to its higher adoption. Moreover, increasing volume of surgeries is further promoting the growth of the market.
Surgeries are performed by making incision on the body, which leads to the wound formation. Wound dressing is used in both internal and external surgical procedures for treating wounds. The advanced wound dressings are used to treat chronic wounds, which fail to heal properly in timely manner. Advanced wound dressings include foam dressings, hydrocolloid dressings, film dressings, alginate dressings, hydrogel dressings, collagen dressings and others. Others advanced wound dressings consists of chitosan, elastin and hyaluronic acid for the treatment of chronic wounds. Whereas, traditional wound dressings are commonly used for cleaning and dressing of the wound to maintain hygiene and promote wound healing. They are also used with advanced wound care dressings to achieve higher therapeutic benefits.
The increase in road accidents across the globe is expected to increase the demand for wound dressing. The wound formed as a result of accidents are exposed to debris, soil, bodily fluids and microbes. In addition, tissue is also lost during road accidents that increases the time for wound to heal. In addition, according to the American Burn Association (ABA), approximately 486,000 burn injuries were reported in the U.S. in 2011. Also, according to the World Health Organization (WHO) publication in 2014, nearly 1 million people suffer from moderate to severe burns every year in India. Thus, the increasing incidence of burn cases is driving the growth of this market.
Traditional wound dressings are easily available as over-the-counter (OTC) products and are cheaper as compared to advanced wound care products. In addition, they are easy to use and can be used by individuals with minimum technical know-how. Traditional wound dressing helps absorbing exudates, inhibiting infection, preventing bleeding and drying of the wounds. Proper care of acute wounds prevent the formation of chronic wounds by utilizing traditional wound care products. Traditional wound dressings include abdominal pads, conforming bandage, gauges and sponges.
However, the high cost of advance wound dressings is the key restraint in the growth of the wound dressing market worldwide. The high cost of advanced wound dressing, such as foams, hydrocolloids, film, alginate, hydrogel, and collagen limits the affordability of users. As a result, consumption of advanced wound dressing decreases, thus hampering the growth of global wound dressing market.
Some of the key companies operating in the global wound dressing market include 3M Company, Smith and Nephew plc, Medtronic, Johnson and Johnson, Molyncke Health Care, DermaRite Industries LLC., Derma Sciences Inc., Hollister Incorporated, ConvaTec and DeRoyal Industries Inc.
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