Global Bioactive Wound Care Market to Post a CAGR of Close to 14% from 2016-2020, Predicts Technavio

LONDON–(BUSINESS WIRE)–According to the latest market study released by Technavio, the global bioactive wound care market is expected to grow at a CAGR of close to 14% during the forecast period.

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This research report titled ‘Global Bioactive Wound Care Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

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Base on product type, the report categorizes the global bioactive wound care market into the following segments:

• Alginate dressing
• Antimicrobial dressing
• Hydrocolloids dressing
• Growth factors
• Skin substitutes

Global alginate dressing market

The global alginate dressing market was valued at USD 1.08 billion in 2015 and is likely to reach USD 2.28 billion by 2020, growing at a CAGR of 16.27%. The global alginate dressing market will experience high growth during the forecast period.

According to Barath Palada, a lead analyst at Technavio for research on medical devices, “Alginates are highly absorbent and can be molded in different sizes, which makes them ideal for dressing many types of wet wounds. This type of dressing is also suitable for moderate to heavily draining wounds, including pressure ulcers, partial and full thickness wounds, diabetic ulcers, leg ulcers, surgical wounds, donor sites, and first and second-degree burns. As a result, these dressings are highly preferred by consumers, thereby making it the largest revenue contributor to the global bioactive wound care market.”

Global antimicrobial dressing market

The global antimicrobial dressing market was valued at USD 990 million in 2015 and is likely to reach USD 1.37 billion by 2020, growing at a CAGR of 6.65%.

There are three types of antimicrobial dressing: silver dressing, iodine dressing, and honey dressing. Silver is the most commonly used antimicrobial dressing, but some studies indicate that it is less effective compared with products that do not contain silver. The growth of the antimicrobial dressing market is slow because these dressings are mainly used in treating infected wounds rather than preventing infection. The demand for other types of antimicrobial dressings is likely to increase during the forecast period, thereby contributing to the market growth.

Global hydrocolloids dressing market

The global hydrocolloids dressing market was valued at USD 687.2 million in 2015 and is likely to reach USD 942.4 million by 2020, growing at a CAGR of 6.52%.

The use of hydrocolloids dressing mainly depends on their effectiveness as occlusive dressings. Hydrocolloid dressings are more effective than conventional dressings such as dry gauze, paraffin gauze, and saline soaks, with a greater chance of healing, faster healing time, and lesser pain. Nursing time is also reduced because the wound does not require frequent dressings.

Global growth factors market

Growth factors in the human body are of different types; insulin-like growth factors, PDGFs, EGFs, and nerve growth factors. PDGF is isolated from the whole blood and is widely used to treat chronic wounds.

“Many growth factors trigger the generation of tissues at the site of injury. They bind with the extracellular matrix and surrounding organs and tissues in the body, supporting them during the healing process. The efficacy of growth factors during wound healing depends on the strength of its bond with the extracellular matrix,” says Barath.

Global skin substitutes market

Skin substitutes help in treating deep dermal and full thickness wounds. However, there are no skin substitutes available in the market that offer effective and scar-free wound healing. Manufacturers derive human tissues, non-human tissues, synthetic materials, or a combination of the above materials to develop skin substitutes.

Growing number of diabetes cases globally will lead to the increased prevalence of ulcers such as chronic leg ulcers, diabetic foot ulcers, and venous ulcers. To treat these ulcers, tissue-engineered skin substitutes are viable options. Moreover, people aged 60 years and above are susceptible to chronic diseases as the immune system deteriorates with age. Thus, a rise in the geriatric population is another factor which will lead to high demand for skin substitutes that help boost the natural healing process.

The top vendors highlighted by Technavio’s research analysts in this report are:

• 3M Health Care
• ConvaTec
• Mölnlycke Health Care
• Smith & Nephew

Browse Related Reports:

• Global Moist Wound Dressings Market 2016-2020
• Global Wound Biologics Market 2016-2020
• Global Bioadhesives Market 2016-2020

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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