The global wound dressings market to grow at a CAGR of 5.06% during the period 2018-2022.
Global Wound Dressings Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one driver in the market is increasing prevalence of acute and chronic wounds. The increasing prevalence of acute wounds such as surgical wounds and traumatic wounds such as abrasions, punctures, lacerations, and incision and chronic wounds such as venous ulcers, diabetic ulcers, and pressure ulcers and the rising geriatric population are estimated to increase the demand for wound dressings. More than 250 million acute wound cases, approximately 50 million traumatic wound cases, and more than five million burn cases are recorded and treated every year globally.
One trend in the market is increasing demand for combination dressings. Antimicrobial agents such as silver, iodine, and honey are increasingly becoming important in the global wound dressings market. Many advanced wound dressings are incorporating these antimicrobial agents to improve the outcome of the treatment of wounds. These dressings comprise two or more types of chemical and physical properties to ensure optimum functionality. These dressings are versatile and convenient to use in both partial and full-thickness wounds.
Further, the report states that one challenge in the market is high cost of wound care treatments. The high cost of advanced wound dressings affects the growth of the global wound dressings market. It is estimated that every year, the expenditure on wound care exceeds more than $45-$55 billion in the US. The average cost of wound treatment is estimated to be around $3,900-$4,000. Advanced wound dressings such as foam dressings are expensive. For instance, the material cost per change for Smith & Nephew's ALLEVYN Foam Dressing is approximately $9.83.