(PharmaNewsWire.Com, July 15, 2020 ) The global wound dressings market is projected to reach USD 11.2 billion by 2025 from USD 7.0 billion in 2020, at a CAGR of 9.7% during the forecast period. The growth of this market is majorly driven by the growing prevalence of chronic diseases and conditions affecting wound healing capabilities, increasing spending on surgical and chronic wounds, high rate of cesarean sections in elderly women, and the rising incidence of burn injuries. However, the high cost and low adoption rate of advanced wound dressings are expected to restrain the growth of this market during the forecast period.
Prominent players operating in this market include 3M (US), Smith & Nephew plc (UK), ConvaTec Group plc (UK), Coloplast A/S (Denmark), Cardinal Health (US), Mölnlycke Health Care AB (Sweden), B. Braun Melsungen AG (Germany), Integra LifeSciences Holdings Corporation (US), and Medline Industries, Inc. (US).
3M (US) held the leading position in the wound dressings market in 2019. The company focuses on product launches and acquisitions to increase its share in the wound dressings market. 3M is a pioneer in advanced wound care and has been in the market for more than 15 years, which provides it with a competitive edge in the market.
Cardinal Health (US) held the second position in the wound dressings market in 2019. Its well-established product portfolio has helped it in maintaining its leading position in the wound dressings market. The company focuses on organic growth strategies such as product launches to expand its consumer base.
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