Wound Dressing Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Wound Dressing Market by region.
The global wound dressing market would reach the value of US$ 20.3 billion by 2030 by growing at a compound annual growth rate (CAGR) of 5.5% during the forecast period from 2021-2030.
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In order to produce a holistic assessment of the market, a variety of factors is considered, including demographics, business cycles, and microeconomic factors specific to the market under study. Wound Dressing Market report 2021 also contains a comprehensive business analysis of the state of the business, which analyzes innovative ways for business growth and describes critical factors such as prime manufacturers, production value, key regions, and growth rate.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
Wound healing is a complicated procedure that demands a suitable environment to amplify the healing process. Wound dressing prevents the wound from infection and enhances the healing process.
Factors Influencing
The growing geriatric population would positively influence the global wound dressing market.
The increasing prevalence of diabetes is forecast to play a significant role in the growth of the wound dressing market. The wound takes a longer time to heal in the case of diabetic patients. They require regular checkups and continuous dressing to prevent the wound from infection. Thus, it would propel the demand for wound dressing procedures. The World Health Organization (WHO) estimates that around 108 million were suffering from diabetes in 1980. The cases rose to 422 million in 2014. Thus, such rapid growth in diabetes cases may influence the growth of the wound dressing market.
Government initiatives and advancements in the global wound dressing industry may drive market growth. Moreover, growing events related to partnership and acquisition may accelerate the growth of the global wound dressing market. Acelity L.P. Inc. extended its portfolio by acquiring Crawford Healthcare.
Growing accident cases around the globe are forecast to play a prominent role in the wound dressing market.
Increasing awareness regarding advanced technologies, together with the rising healthcare expenditure, may create profitable opportunities for the market players.
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Geographic Analysis
On a regional basis, North America is forecast to lead in the global wound dressing market because of the growing prevalence of diabetes cases. The Centers for Disease Control and Prevention (CDC) estimates that around 23.1 million people in the United States suffered from diabetes in 2012. The cases are forecast to grow rapidly in the future.
Increasing awareness pertaining to wound care and the growing prevalence of chronic wounds may become another factor pertaining to market growth. Moreover, increasing government initiatives and expenditure would create favorable opportunities for the companies. The National Center for Biotechnology Information estimates that around 2.4 million to 4.5 million people suffering from chronic lower-extremity ulcers wound in 2013 in the United States.
The market players are forecast to witness various growth opportunities in the Asia-Pacific region. The growth of the Asia Pacific region is attributed to the increasing population, growing healthcare expenditure, and rising prevalence of diabetes and chronic wounds.
COVID-19 Impact Analysis
The COVID-19 pandemic negatively influenced the growth of the entire wound dressing market. The hospitals stopped preferring surgery cases as it requires direct contact. Moreover, people avoided visiting healthcare sectors to prevent themselves from the virus transmission. As a result of the COVID-19 epidemic, the global wound dressing market witnessed a notable drawback.
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Competitors in the Market
Acelity L.P. Inc.
Integra Lifesciences Holdings Corporation
Medline Industries Inc.
Smith and Nephew PLC
Molnlycke Health Care
Medtronic Plc
ConvaTec Inc.
3M Company
Coloplast Corporation
Hollister Inc.
Other prominent players
Market Segmentation
By Type
Advanced Wound Dressing
Foams
Hydrocolloids
Films
Alginates
Hydrogels
Traditional Wound Dressing
Bandages
Gauzes
Sponges
Abdominal pads
By Application
Surgical wounds
Diabetic Foot Ulcers and Others
Burns
Other Applications
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By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter’s Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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