The global wound dressings market is estimated to be valued at USD 6.31 Billion in 2016, and is projected to grow at a CAGR of 6.0% from 2016 to 2021, to reach USD 8.46 Billion by 2021. Advanced wound dressings segment registered the largest market share in 2015 and is expected to grow at a CAGR of 6.9%. Increasing awareness regarding wound care management, high growth potential of emerging economies, and increasing number of acquisitions by key companies have opened an array of opportunities for the growth of market in coming years.
The global wound dressings market is segmented on the basis of type, application, and end user. Furthermore, the geographic analysis covers North America, Europe, Asia, and Rest of the World (RoW). RoW includes Latin America, the Middle East, and Africa.
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By type, the global market is divided into traditional and advanced wound dressings. The advanced wound dressings segment is estimated to account for the largest share of the global market in 2016.
Advanced wound dressings are further segmented into foam dressings, hydrocolloid dressings, hydrofiber dressings, film dressings, alginate dressings, wound contact layer dressings, collagen dressings, hydrogel dressings, and superabsorbent dressings. Among these dressings, foam dressings segment holds the largest share owing to the increasing patient awareness regarding advanced wound products, increasing incidences of diabetes, and increase in aged population. Alginate dressings segment is estimated to grow at the highest CAGR.
Traditional wound care products take more time to heal wounds and are less effective as compared to advanced and active wound care products, Anti-infective dressings are widely used after surgeries to prevent hospital-acquired infections (HAIs). Increasing number of surgeries and regulatory policies of infection control authorities have increased the demand for anti-infective wound dressings. Dry dressings and tapes are other segments under traditional wound dressings.
Geographic Analysis:
North America, comprising the U.S. and Canada, is estimated to account for the largest share of the global market in 2016. This large share can be attributed to the large population of patients with chronic wounds. Furthermore, the need for post-surgical wound dressings is on the rise, which drives the demand for wound dressings in this region.
Market Leaders:
The wound dressing market is competitive with a large number of companies operational in the market. The competitive landscape includes an in-depth market share analysis along with the key business strengths of leading market players. Acelity L.P., Inc. (U.S.) accounted for the largest share of the wound dressing market in 2015. It has a diversified product portfolio for wound care and focuses on alliances for inorganic growth. Smith & Nephew plc (U.K.), Mölnlycke Healthcare (Sweden), Medline Industries, Inc. (U.S.), Organogenesis Inc. (U.S.), Integra LifeSciences Corporation. (U.S.), and MiMedx Group, Inc. (U.S.) are some other major market players of this market.
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