Wound Dressings Market to Grow at a CAGR of 7.5% from 2021 to 2028, According to TMR
Continued Advancements in Wound Dressings Market Drive Reduced Healing Time and Ease of Application, Propelling Revenue Growth; traditional dressings to attend important sales
Prevalence of chronic wounds in Asia-Pacific to create vast profitable opportunities over the forecast period; modern dressings improving the quality of life
ALBANY, NY, February 14, 2022 /PRNewswire/ — The increasing incidence of acute wounds resulting from accidents, surgeries and injuries is intensifying the need for smart dressings, expanding the scope for R&D in biomaterial dressing treatment options. Advances in wound management techniques have accelerated healing and enabled clinicians to repair various skin lesions. The overall valuation of the dressing market should reach $17.7 billion by 2028.
The prevalence of chronic wounds in the general population enriches the sources of income. Companies in the dressings market rely on the unveiling of affordable products. They have derived substantial revenue from the abundant sales of traditional wound care products, mainly wound closure products and anti-infective dressings.
Smart dressings for diabetic populations have spurred R&D in advanced polymeric materials. Researchers want to use the characteristics of non-toxicity, biocompatibility and bioadherence to develop next-generation products in the wound dressing market. These materials include foams, hydrocolloids, hydrogels, hydrofibers, alginates, collagen and films. The demand for advanced burn products is generating new revenue streams, find the in-depth study on the wound dressings market.
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Key Findings from the Dressings Market Research
Growing need to manage the demand for chronic wound filling: Clinicians and wound care specialists are keen to meet the demand for chronic wound care. The prevalence of chronic diabetic wounds underlies many profitable opportunities, according to the TMR study on the wound dressings market. These chronic wounds have led to the incidence of lower limb amputations and represent a considerable public health burden. The demand for advanced dressings for patients with foot, venous and pressure ulcers has been increasing, increasing the turnover over the years. These sores result from burns and decubitus ulcers.
Advances in traditional dressings find application in acute wound care: The demand for acute wound products improves the quality of life of patients. The acute wound is debilitating, especially for elderly patients, resulting in reduced quality of life. There is therefore a massive demand for low cost products to meet patient demand, thus driving the adoption of traditional dressings. A wide range of polymers are being tested to develop advanced products that are biocompatible and biodegradable, and can speed up recovery.
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Dressings Market: Key Drivers
The increase in the number of elderly people and diabetics in several developing and developed economies is expected to increase the burden of chronic wounds.
The high health and economic burden of diabetic foot ulcers in the patient population is propelling the advancements in the dressings market, according to the TMR study.
The high cost of acute wound hospitalizations is a key factor underpinning the development of the wound dressing market.
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Dressings market: regional growth momentum
Asia Pacific held a major share of the global wound dressing market in 2020. Lucrative countries in the region are China, Japanand India. Rising incidence of chronic and acute wounds propels revenue growth. The increasing incidence of non-fatal burns is also causing the Asia Pacific dressing market.
The prevalence of diabetic ulcers in the elderly has reinforced the need for smarter products in the wound dressing market that can prevent ulcers and amputations and reduce management costs.
Dressings Market: Key Players
Key players in the wound dressing market include Mölnlycke Health Care AB, Kinetic Concepts, Inc., ConvaTec, Inc., Derma Sciences, Inc., Coloplast A/S, 3M Healthcare, B. Braun Melsungen AG, Johnson & Johnson and Smith & Nephew plc.
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Global Dressings Market: Segmentation
Dressings Market, By Type
Dressings Market, By Region
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