Wound dressings have always been integral in the healthcare space, considering their importance in effective wound care. The demand for wound dressings continues to remain significantly high, on account of the ever-increasing prevalence of wounds, including surgical wounds, ulcers, and many other types. As per a survey by the National Pressure Ulcers Advisory Panel (NPUAP), the economic cost burden of diabetic foot ulcer wound care was estimated around US$ 9.0 Bn- US$ 13.0 Bn in the U.S. alone in 2016.
Moreover, increasing number of surgical interventions have led to an increase in frequency of surgical wounds, which is likely to boost the sales of wound dressings. These insights are as per the latest research study by Fact.MR, which sheds light on potential opportunities for the manufacturers of wound dressings along with trends shaping the global market growth.
“Consumers continue to demonstrate notable inclination toward plasters and bandages for basic wound management. Moreover, customers are likely to show marked preferences for smart bandages, which an evolving trend in effective healing of chronic wounds. Sensing the end-user shifts, manufacturers are focusing on offering innovative dressings with ameliorated functionalities for satisfactory customer experiences”, says Fact.MR report
Manufacturers are also focusing on developing products facilitating faster healing, unlike the conventional products that are time-consuming and labor intensive. Radical improvements in the wound care arena for enhancing clinical outcomes and patient convenience would have deep-rooted influences on demand for advanced wound dressings.
Wetting Agents Will Continue to Outsell Antiseptic Variants
Demand for wound irrigation solutions is on a consistent rise, on account of its competency in reducing risk of microbial deposition on the wound site. Wound irrigation solutions offer unparalleled defense against external microbial infections, which is a key aspect making it a viable investment for effective wound care management. Wide-spread prevalence of chronic wounds is likely to necessitate adoption of advanced wound dressings, including wound irrigation solutions, creating cumulative growth opportunities for manufacturers over the forecast period. As per the report, the demand for wound irrigation solutions is likely to grow at a moderate CAGR of over 3% through 2027.
As per the report, adoption of antiseptics as an ideal wound irrigation solution is likely to witness high proliferation. However, revenues from wetting agents will remain more than 1.5 times of antiseptics during the forecast period. The eminence of wetting agents can be attributed to their efficacy in removal of debris and barriers, thereby facilitating faster recovery.
Manufacturers of wound irrigation solutions are making progressive shifts from transaction-oriented approaches to value-creation ones, by offering products that are extremely cost-effective and have improved functionalities. The wound irrigation solutions market is expected to proliferate by leaps and bounds, owing to the rising awareness among people regarding advanced wound care management solutions. In addition, the manufacturers of wound irrigation solutions are prioritizing new product developments at a breakneck speed, especially across developing regions such as China and India, to retain perfect balance in the supply-demand equation.
Fact.MR’s research study enunciates latent opportunities in the wound dressing market and offers a detailed analysis of the overarching trends shaping the demand for wound dressings over the forecast period of 2018- 2028.
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Mr. Shambhu Nath Jha is a seasoned consultant and researcher. His research papers have been published in reputed websites and trade journals. His interests include philosophy and history.