The global Wound Dressings Market is expected to reach USD 8.46 Billion by 2021, growing at a CAGR of 6.0% from 2016 to 2021. Various factors, such as introduction of new and advanced wound dressing products and support in the form of funds and grants from various government bodies across the globe are fueling the growth of this market.
The major players operating in global wound dressings market include Smith & Nephew plc (U.K.), Acelity L.P., Inc. (U.S.), Integra Lifesciences Corporation (U.S.), Coloplast Corporation (Denmark), 3M Company (U.S.), Organogenesis Inc. (U.S.), ConvaTec Inc. (U.S.), Hollister Wound Care (U.S.), Mölnlycke Health Care AB (Sweden), and BSN Medical (Germany) which are majorly focused on growing their market through strategies such as new product launches, mergers & acquisitions, geographic expansion, partnerships, and agreements.
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Acelity L.P., Inc. (U.S.) accounted for the largest share of the wound dressings market in 2015. It has a diversified product portfolio for wound care and focuses on alliances for inorganic growth, which enabled it to generate maximum revenue from the market. The company was formed through merger of Centaur Guernsey L.P. Inc. and its subsidiaries, which include Kinetic Concepts, Inc., LifeCell Corporation, and Systagenix Wound Management Ltd., in September, 2014.
To maintain its competitive position, the company focuses on new product launches and agreements. The company mainly focuses on the development of new and innovative products to expand its portfolio and address the needs of physicians in the global wound dressings market. In May, 2015, Acelity announced the availability of TIELLE Non Adhesive, a new and improved foam dressing, in the European market. It also announced the availability of Nanova Therapy System, a new absorbent dressing enhanced with negative pressure for slow-to-heal wounds. This development aimed at increasing the company’s reach and market share.
Headquartered at Plainsboro, New Jersey (U.S.), Integra LifeSciences Corporation is also a leading player in wound dressings market. The company largely operates in the orthopedic devices market and also offers products in the field of advanced wound management. It strengthens its market presence through new product launches, geographic expansions, and strategic acquisitions. The company strongly focuses on its R&D activities. It has developed innovative wound management products that are highly acclaimed in the U.S. and well accepted in the European region. In July, 2015 Integra LifeSciences Corporation acquired all the shares of TEI Biosciences Inc. and TEI Medical Inc. This acquisition was aimed at helping the company widen its product portfolio of regenerative products, which, in turn, will enhance its customer base.
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