The growing prevalence of chronic and surgical wounds is a key factor fueling the market growth of wound dressings. Moreover, an increasing number of surgeries is also projected to foster market growth. The increasing incidence of burn injuries coupled with the technological advancement in wound dressing is also projected to propel the market growth. According to the World Health Organization, globally, burns are a serious public health problem. An estimated 265 000 deaths occur each year from fires alone, with more deaths from scalds, electrical burns, and other forms of burn. Furthermore, the rising prevalence of pressure ulcers and diabetic ulcers is also expected to augment the market growth of wound dressings.
North America is expected to gain significant growth over the forecast period and this is attributed to the high presence of the geriatric population in the region which is increasing the prevalence of chronic wounds. According to the U.S. Census Bureau, there were 40.3 million U.S. residents 65 years and older in the 2010 Census and more than 54 million on July 1, 2019. Also, increasing investment in the healthcare sector coupled with the advancement in wound dressing is further anticipated to foster market growth.
Key Developments:
1. In April 2020, AxioBiosolutions has launched MaxioCel, a next-generation wound care dressing made of chitosan in Endovascular Live 2019’ at Pullman Novotel, New Delhi.
2. In June 2019, UPM has launched a new advanced wound care product for the European market. FibDex® is the first wound dressing created from wood-based nanofibrillar cellulose to receive regulatory approval and be awarded a CE mark.
3. In July 2020, EO2 Concepts® announced the release of an enhanced version of their full wound closure, at-home therapy system. The upgrade of the system consists of new and improved features for both the medical device, called the OxyGeni® and the OxySpur® wound dressings.
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