Global wound dressings market to reach USD 10.16 billion by 2020
According to a report published by Transparency Market Research, the global wound dressings market is likely to reach USD 10.16 billion by 2020. Currently, consumers of wound care products are not limited to trauma patients or household accidental cases, they include diabetic geriatric populations with ulcerative complications. Skin ulcer and tissue necrosis are leading global concerns among the rural and diabetic population with inadequate access to medical care. This major driver led to innovations in wound care technology, which is presently provided by advanced wound management products across the world. Foams is the leading sub-segment of the advanced wound dressings segment in terms of revenue. Foams are versatile, in terms of applicability and healing, and are readily available in stores. North America was the largest market for advanced wound dressings in terms of revenue in 2013. Asia Pacific reported the fastest growth rate and is expected to lead the global market by the end of 2020. The overall wound dressings market is highly fragmented, with the presence of a large number of big and small players.
(Image Courtesy: Manatee Memorial)