Global Wound Dressing Market to Grow at CAGR of 8.8% by 2020, Market Driven by Increasing Chronic Diseases
The global wound dressing market is set to grow at a CAGR of 4.5% during the period from 2014 to 2020. Increase in the number of chronic wounds has resulted in growth of the global wound dressings market. From US$7.53 billion in 2013, the global wound dressing market is expected to amount to US$10.16 billion by 2020.
Asia Pacific Leads Global Wound Dressings Market
The global wound dressing market is categorized on the basis of geography and products. By geography, the global wound dressings market is segmented into Asia Pacific, North America, Europe, and Rest of the World. By products, the global wound dressing market is segmented into traditional wound dressing products and advanced wound dressing products. Asia Pacific dominated the global wound dressing market in 2013 and will continue to be in the leading position during the forecast period. Countries from the Rest of the World recorded highest the growth in the traditional wound dressing products segment. As far as advanced wound dressing products are concerned, North America, especially the U.S., dominated the global market.
Browse Market Research Report of Wound Dressings Market: http://www.transparencymarketresearch.com/wound-dressing-market.html
The presence of small and big companies contributing to the new developments in wound dressing products has led to the strong growth prospects of the global wound dressing market during the forecast period. Some of the leading companies in the global wound dressing market are 3M Healthcare, Coloplast A/S, Johnson and Johnson, Molnlycke Health Care AB, Smith and Nephew, Paul Hartmann AG, Kinetic Concepts Inc., B. Braun Melsungen AG, and ConvaTec Inc.
The traditional wounds dressings market has three segments, including basic wound care, wound closure products, and anti-infective dressing. Basic wound care products dominated the traditional wound dressing market in 2013. The advanced wounds dressing market has six sub-segments, including foams, films, collagen, hydrocolloids, hydrofiber, and alginates; the advanced wound dressings market is governed by foams.
Browse Market Research Press Release of Wound Dressings Market: http://www.transparencymarketresearch.com/pressrelease/wound-dressing-market.htm
Countries Adapting Wound Dressing Products for Treating Chronic Wounds
The high prevalence of chronic diseases is considered to be the major reason behind the growth of the global wound dressing market. This has led to adoption of advanced wound dressings products by all local and international players from across all regions. Recently, as per statistics provided by the Federal Health Minister of Australia, around 50% of the country’s population suffered from either a chronic disease or chronic wounds.
Wayne Mulvany, the General Manager of IWC, stated that they are committed to offer healthcare and wellbeing services to the people suffering from chronic diseases. Services such as chronic disease management, wounds management, and other support services are now being offered in different areas of Australia. Traditional as well as advanced wound dressings will be provided by medical centers, based on the severity of the wounds. According to Wayne Mulvany, IWC delivered around 71,000 products and services to the community. Doctors and healthcare professionals take efforts to serve patients by treating their chronic wounds. With this, the medical sector in Australia continues to expand at a fast pace, thus boosting the wound dressings market.