Injuries and wounds have commonly been treated since historic times, mainly by experts having knowledge in the relevant field. Nowadays, the field of wound treatment and wound dressings has reached a whole new level, with the main focus existing on quality and fast healing. Such an importance held by wound dressing activities has led towards the existence of a distinct wound dressing market from a global perspective.
Increasing instances of accidents and injuries owing to various causes such as accidents, illnesses, and others, are majorly responsible for driving the global wound dressings market. Skin ulcers and tissue necrosis are one of the most common types of wounds that need proper dressings to be carried out. As per experts, proper wound dressing that can provide adequate moisture and aeration can not only heal the wound faster but also help decrease the associated trauma.
Expert analysts have foretold the global wound dressing market to grow at a decent CAGR of 4.50% during the forecast period from 2014 to 2020. With this CAGR, the market is expected to gain revenue worth US$10.1 bn until the end of 2020, which is a decent increase since an initial revenue worth US$7.5 bn generated in 2013.
Basic Wound Care Segment Holds leading Edge over the Other Categories
The global wound dressings market is mainly classified under wound type and region. Under type, traditional wound dressings and advanced wound dressings are two sub-categories, which are further divided into individual segments. Under traditional wound dressings, basic wound care, wound closure products, and anti-infective dressings, are key segments. Whereas, advanced wound dressings category consists of foams, films, hydrocolloids, hydrogels, hydrofiber, alginates, and collagen, are chief segments comprising the global wound dressings market.
Considering the category of type, basic wound care segment had gained maximum market revenue as a part of the traditional wound dressings segment in 2013. This was mainly due to prevalence of small injuries among people, wherein minimal dressings is mainly required. Owing to this, the sales of cotton dressings and sterile cotton dramatically increased, mainly in developing nations. This segment is expected to maintain its leading stance even during the next few years.
However, a drastic increase in large injuries caused in people owing to various reasons such as vehicular accidents, injuries caused while participating in adventure sports, and war, is mainly leading to a rise in the need of wound closure products. Owing to such a need of the wound closure products, the wound closure products segment has witnessed remarkable growth.
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North America and Asia Pacific Remain Dominant in the Market
Geography-wise, the global wound dressings market is spread across North America, Asia Pacific, the Middle East and Africa, Europe, and South America. Of these, Asia Pacific held a leading position in this sector in 2013. This is mainly due to various factors such as cheap pricing of the wound care products, less expensive healthcare facilities available in terms of wound care, and a general prevalence of large number of injuries caused mainly in people. However, North America also holds a prominent position in the global wound dressings market, mainly due to the presence of a strong medical infrastructure in leading countries such as U.S. and Canada in the region. Nevertheless, Asia Pacific witnessed a leading growth rate in the recent past and is likely to stay the same in the years ahead.
Smith & Nephew Plc, Johnson & Johnson, B. Braun Melsungen AG, 3M Healthcare, Coloplast A/S, Derma Sciences, Inc., ConvaTec, Inc., Kinetic Concepts, Inc., Mölnlycke Health Care AB, PAUL HARTMANN AG, and Systagenix Wound Management Ltd. Out of these, Smith & Nephew Plc, ConvaTec, Inc., and Mölnlycke Health Care AB, are key players operating in the global wound dressings market.