Albany, NY (PRWEB) September 09, 2013
According to a new market report published by Transparency Market Research “Wound Dressings Market – Global Industry Analysis, Size, Share, Trends, and Forecast, 2012 – 2018,” the global wound dressings market was estimated to be valued at USD 12.8 billion in 2011 and expected to reach Transparency Market Research USD 21.6 billion by 2018 at a CAGR of 7.8% from 2012 to 2018. The markets for wound dressings is more inclined towards advanced wound dressing techniques due to the faster healing and ease of use. Traditional wound dressings are a low cost method and expected to remain in trend in future, albeit at a lower growth rate.
Browse the full report at http://www.transparencymarketresearch.com/wound-dressing-market.html.
Wound dressings are utilized to cover wounds and prevent microbial infection, spreading of necrosis in the tissue and improving healing of wounds in a shorter duration. Wounds are caused by injury to tissue due to accidents, physical activities such as sports, burns and chronic diseases such as diabetes.
The U.S. and Europe were the major markets for wound dressings, collectively accounting for more than 60% of the worldwide wound dressings market in 2011. Asia-Pacific is the fastest growing region for wound dressings particularly due to emerging economies of China, Taiwan and India experiencing high growth rate. Since the last decade, the emergence of interactive/bioactive and antimicrobial dressings has significantly enhanced the growth of the advanced wound dressings market in emerging economies.
The multi-billion dollar wound dressings market is expected to witness robust demand as the aging population is observed to experience a growing prevalence of chronic wounds such as pressure ulcers and venous status ulcers. With medical facilities and healthcare practitioners focusing on reducing the costs of treating chronic wounds, this market is expected to grow considerably in the near future.
Development of new products and therapies such as moist wound care is beneficial for rapid healing of wounds. Moist wound dressings create and retain a wet environment around the wound and facilitate healing. With moisture provided to the wound, the moist wound care dressings helps in accelerating the healing process which is highly recommended for chronic wounds like pressure ulcers, diabetic ulcers, burn injuries and other slow healing wounds, effectively addressing the wound-healing process at reduced costs and thus likely to see increasing acceptance in the medical community.
The key market players include Bristol-Myers Squibb, Smith and Nephew, Coloplast AS, Healthpoint Biotherapeutics, Johnson and Johnson, Medline Industries, and 3M Healthcare among others. Smith & Nephew is the market leader after its acquisition of Healthpoint in December 2012. This acquisition gives Smith & Nephew a strong position in bioactives, the fastest growing area of advanced wound management.
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