Bioactive wound care market is driven by advancements in technology, growing ageing population, the rising burden of chronic wounds and problems and associated with conventional wound healing procedures. Furthermore, increase in government initiatives, demand for fast and safe treatment for chronic wounds, increase in the prevalence of lifestyle disorders such as diabetes leading to venous leg ulcer, pressure ulcer and diabetic foot ulcer propels the growth of bioactive wound care market. According to the International Diabetes Federation 2019, approximately 463 million adults (20-79 years) were living with diabetes; by 2045 this will rise to 700 million. The proportion of people with type 2 diabetes is increasing in most countries. However, the high cost of treatment and unfavourable reimbursement policies are the few factors that hinder bioactive wound dressing market.
Key Market Trends
Alginate Dressing is Anticipated Have Significant Share
- Alginate dressing refers to the natural wound dressings that are composed of highly absorbent materials and promote healing. These are widely used in exudnent wounds, where there is excess fluid.
- Alginate dressing is usually made from seed wood thus, highly absorbent and provide a moist wound environment which is favourable in treating dry injuries.
- Furthermorex`x, alginate dressing is suitable to treat bleeding wounds and keep nerve endings moist reducing pain. This makes them more preferable in treating heavily draining wounds, surgical wounds, first and second-degree burns, and in donor sites, this is likely to fuel the segment growth over the forecast period.
North America Expected to have Significant Market Share
- North America bioactive wound dressing market is projected to have significant market share worldwide. Major factors that are driving the market in the region are rapidly growing ageing population, high number of diabetic population, and the developed healthcare system, which adapts to the novel innovations.
- The statistics show that around 30.3 million people in the United States were suffering from diabetes in 2017, and subsequently, the number is increasing. The International Diabetes Federation has stated that in the whole North American region, the number of people suffering from diabetes by the year 2045 may reach up to 62 million.
- Moreover, the presence of key market players such as 3M and others coupled with their activity in the launching of new products and R&D are expected to bolster the market growth in the region.
- On the other hand, Europe bioactive wound dressing market is anticipated to have healthy growth rate owing to the adoption of new technologies, entry of market players and recent product launches. For inatnce, in Febrauary 2019 Norwegian company has received NOK 8 million to develop an industry-first bioactive gel-forming fibre dressing containing soluble beta-glucaninstanceinstance.
Global bioactive wound dressing market is moderately fragmented and competitive. The key market players include 3M, Convatec, Mölnlycke Health Care, Smith and Nephew and B. Braun Melsungen AG among others
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