The interactive wound dressing market is mainly driven by technological advances, rising prevalence of chronic wounds and an increasing number of surgical procedures. The growing prevalence of several lifestyle disorders leading to chronic wounds, such as diabetic foot ulcers, venous leg ulcers, and pressure ulcers is one of the key factors estimated to encourage the growth of the interactive wound dressing market in the coming years.
Attempts to lower the duration of the hospital stay in order to reduce the surgical healthcare expenses and the growing inclination toward products that enhance therapeutic outcomes are also driving the demand for the interactive wound dressing market. Moreover, the interactive wound dressing is on high demand as these dressings not only moist wound environment but also interact with the wound bed components to further wound healing.
However, the high cost associated with the treatment and stringent regulatory framework for approval of the new technologies serve as factors that hinder the market growth.
Scope of the Report
Interactive wound dressings create a moist wound environment and interact with the wound bed components to further wound healing.
In the report, a detailed analysis of the interactive wound dressings market is provided. The market is evaluated by collating revenues generated across segments, categorized by type, application, end-user, and geography.
Key Market Trends
Market share in Chronic Wounds Application is Expected to Register a High Growth Rate
Chronic wounds like foot ulcers are very common among the population with diabetes. As per a report by Zhang P et al., published in Annals of Medicine 2017, global diabetic foot ulcer (DFU) prevalence was reported to be 6.3%. Moreover, as the prevalence of diabetes increases, the prevalence of DFU is also expected to increase.
According to World Health Organization data, the global prevalence of diabetes among adults over 18 years of age has risen from 4.7% in 1980 to 8.5% in 2014 and is expected to increase in the future as well.
Therefore the increasing prevalence of diabetes is expected to increase the DFU prevalence, which will increase the demand for Interactive Wound Dressing in the market and will help the market to grow.
North America is expected to dominate the market
According to a report by Ji Lin et al., published in Population Health Metrics 2018, the number and percent of adults with diagnosed diabetes in the United States is estimated to increase from 22.3 million (9.1%) in 2014 to 39.7 million (13.9%) in 2030, and further to 60.6 million (17.9%) in 2060. Moreover, a report by Zhang P et al., published in Annals of Medicine 2017 states that North America had the highest prevalence of diabetic foot ulcer in the world, which is approximately 13.0%. With increasing cases of diabetes, the prevalence of diabetic foot ulcer is also expected to increase in the future.
However, North American countries of the United States and Canada have a developed and structured healthcare system and also promote research and technological advancements. These policies lure many global players into this region, which helps it to treat its high and growing patient pool. These factors an expected to help the market grow
The majority of the Interactive Wound Dressing products are being manufactured by the global key players. Market leaders with more funds for research and a better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players due to the rise of awareness and this has also helped the market to grow.
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