Upswing in Chronic Ailments, Trauma, and Burns to Drive the Advanced Wound Dressing Market
As per a report available on XploreMR, the global advanced wound dressing market will take a supple leap between 2020 and 2030.
Rising incidences of chronic diseases, sports injuries, and growing awareness regarding advantages of advanced wood care products are amongst the key factors driving the advanced wound dressing market.
The increasing occurrences of chronic diseases could be credited to the rate at which geriatric population is rising. As per the WHO, is population is expected to close to 2 Bn by 2050 (from 64 Mn in 2014). It is a known fact that geriatric population and chronic impairments, disabilities, and chronic diseases go hand-in-hand. Plus, the number of diabetic patients is expected to reach 552 Mn by 2030 (from 366 Mn in 2011) according to the International Diabetes Federation. Advanced wound dressing comes into picture with addressing the wounds of these patients (improper dressing may invite gangrene and complicate the matters further).
The factors mentioned above are likely to bring high tides to the advanced wound dressing market in the forecast period.
What’s more with the Advanced Wound Dressing Market?
In the current scenario, the cases of burns and road accidents are expected to add to revenue generation. The WHO states that more than 1 Mn people get registered every single year as severely or moderately burnt. This fact is also expected to give an impetus to the wound care market (advanced wound dressing market, in particular) in future.
The demand for materials like gelatin and CMC (carboxy methylcellulose) is also witnessing a sharp increase in the wake of advanced wound dressings. These materials are used for preparing hydrocolloid dressings. The basic advantage of the materials is that they help in retention of moisture. This, in turn, renders the dressings impermeable regarding any of the bacterial infections. The CDC says that more than 20% of the global population contracts diabetic ulcers or diabetic wounds.
Foam dressings made out of hydrophilic polyurethane (a highly absorbent material) are effective with respect to catering to trauma injuries and burns. As per the ABA (American Burn Association), more than 490K people all across the US receive medical treatment every year due to burns. Technological upgradations add to the growth of foam dressings’ sector. For example – SILCRYST nanocrystalline and Safetac (Molyncke) were upgraded in 2019, so as to provide better protection against proliferation of bacteria.
NPWT (Negative-Pressure Wound Therapy) is one of the applications of advanced wound dressing, which is basically used to treat diabetic foot ulcers due to rapid healing. Prolonged hospital stays do cause pressure ulcers. The tailbone’s, hips’, and ankles’ bony areas experience these ulcers. NPWT is helpful over here as well.
The factors mentioned above are likely to exhilarate the advanced wound dressing market going forward.
The outbreak of Covid-19 has left the entire world guessing, as to when normalcy would be restored. As such, the advanced wound dressing market has witnessed a spike as those suffering from chronic ailments have been advised to be more cautious because they are more prone to contracting Covid-19. On the other hand, sports injuries are almost negligible as lockdowns have prompted annulment of various sports events. For instance – Tokyo Olympics got postponed to the year 2021. However, due to disruption in supply chain, there is a shortage of raw materials. This is actually giving a tough time to the manufacturers as demand is escalating but supply is not able to cope up with the same demand. This scenario is expected to continue till the Covid-19 vaccine is in place.
North America holds the largest market share due to an increasing number of people with chronic illnesses. Europe comes in second due to large number of obese people therein. The Asia-Pacific is expected to grow at the fastest pace due to more than 70% of diabetic population being present over here.
The key players in the advanced wound dressing market include Acelity (KCI Licensing, Inc.), Baxter International, Inc., Convatec Group PLC, Smith & nephew PLC, and Molnlycke Health Care AB.
Advanced Wound Dressing Market - Scope of the Report
XploreMR recently published a market study on the global advanced wound dressing market. The study provides detailed assessment of key market dynamics, including the drivers, trends, opportunities restraints, and detailed information about the advanced wound dressing market structure. The market study presents exclusive information about how the advanced wound dressing market will grow during the forecast period (2020-2030).
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market and compound annual growth rate (CAGR) are explained in XploreMR’s study in a comprehensive manner. Other information includes definitions, drivers, and opportunity analysis by region and by product, which helps in the deep understanding of the market segment details by researchers, suppliers, manufactures, and distributors. This information can help readers understand the quantitative growth prospects of the advanced wound dressing market during the forecast period.
The study is relevant for manufacturers, physicians, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Business researchers, shareholders, and industry experts can leverage the information and data presented in XploreMR’s study.
The study also includes statistics as well as facts related to macroeconomics factors that are impacting developments in the market. It also offers actionable insights based on the future trends in the advanced wound dressing market. Furthermore, small businesses and new entrants in the advanced wound dressing market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
XploreMR’s study on the advanced wound dressing market offers information divided into four important segments—product, indication, distribution channel, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Key Segments of Advanced Wound Dressing Market
Questions Answered in XploreMR’s Advanced Wound Dressing Market Report
- Which regions will continue to remain the most profitable regional markets for advanced wound dressing market players?
- Which factors will induce a change in the demand for advanced wound dressing during the assessment period?
- What are the different opportunities available for emerging players in the advanced wound dressing market?
- How are supply-side and demand-side drivers impacting the advanced wound dressing market?
- How will changing trends impact the advanced wound dressing market?
- How can market players capture the low-hanging opportunities in the advanced wound dressing market in developed regions?
- Which companies are leading the advanced wound dressing market?
- What are the winning strategies of stakeholders in the advanced wound dressing market to upscale their position in this landscape?
Advanced Wound Dressing Market: Research Methodology
In XploreMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the advanced wound dressing market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the advanced wound dressing market study include statistics from government healthcare organizations, medicines journals, research journals, press releases, annual reports, white papers, directories, and databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as validation from companies in the advanced wound dressing market, and makes XploreMR’s projections on the growth prospects of the advanced wound dressing market more accurate and reliable.
Global Market Study on Advanced Wound Dressing: Growing Incidence of Chronic Ulcers and Surgeries Fuelling DemandBuy Now
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