Wound dressing is used to provide optimum conditions for the healing of the wound. It protects the wound from further pathogenic microorganisms invasions and trauma.
Adhesive Dressings Market: Introduction
- A dressing is a sterile compress or pad which is applied to a wound to promote healing and for protecting the wound from further harm. A dressing is designed in such a way that it comes in direct contact with the wound, compared to a bandage, which is most often used to hold a dressing in place. Many modern dressings are self-adhesive.
- Wound dressing is used to provide optimum conditions for the healing of the wound. It protects the wound from further pathogenic microorganisms invasions and trauma.
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Key Drivers and Restraints of Global Adhesive Dressings Market
- The global adhesive dressings market is driven by increase in incidence of injuries because of recreational activities among all age groups and rise in the geriatric population, which is considered to be prone to small accidents, including falls.
- Additionally, increase in incidence of domestic and workplace injuries and introduction of different variants of adhesive dressings boost the growth of the global adhesive dressings market
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- Moreover, large number of applications in wound management, edema control, and post-surgical compressions, and increase in incidence of sports-related injuries, adventure activities, and road accidents fuel the growth of the global adhesive dressings market
- However, disadvantages associated with adhesive dressings such as the need for frequent changing because adherence is not long enough and these prevent aeration of the wound, therefore such factors are expected to hamper the growth of the market
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Strategies adopted by Key Players and Emerging Economies to Offer Attractive Opportunities
- Companies operating in the global adhesive dressings market focus on addressing the needs of the medical communities and patient population by developing novel products. Leading players engage in strategies such as acquisitions, mergers, and collaborations to strengthen their position in the global market.
- For instance, in October 2019, 3M completed the acquisition of Acelity, Inc. and its KCI subsidiaries worldwide. Acelity is a leading global medical technology company focused on advanced wound care and specialty surgical applications marketed under the KCI brand.
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- In April 2019, Smith & Nephew, the global medical technology business, announced completion of the acquisition of Osiris Therapeutics, Inc. for US$ 19.00 per share in cash, representing a total equity value of approximately US$ 660 Mn. Osiris is a fast-growing company delivering regenerative medicine products including skin, bone graft, and articular cartilage substitutes. The acquisition is expected to accelerate growth of Smith & Nephew’s Advanced Wound Management franchise.
- In September 2016, ConvaTec Inc., a leading global medical technology company, announced the launch of Foam Lite ConvaTec dressing, expanding its portfolio of silicone foam dressings and providing customers with a broad range of advanced dressings for the management of a range of chronic and acute wounds. Foam Lite ConvaTec dressing is a thin foam dressing with a breathable film and perforated, gentle silicone adhesive.
- Emerging economies present lucrative opportunities in the adhesive dressings market because of increase in patient population and rise in initiatives by governments in the health care sector
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North America to Account for Major Share of Global Adhesive Dressings Market
- North America is projected to capture leading share of the global adhesive dressings market due increase in health awareness, rise in participation of people in sports & recreational activities, surge in number of injuries, advancements in wound care, increase in geriatric population, and presence of key players in the region
- The adhesive dressings market in Asia Pacific is expected to grow at a rapid pace during the forecast period due to rise in patient population, increase in initiatives by governments in the health care sector, surge in number of injuries, and rise in interest of key players in expanding market presence in the region
Key Players Operating in Global Adhesive Dressings Market
Leading players in the global adhesive dressings market are focusing on research and development activities. The competitors are also focusing on various growth strategies including mergers, acquisitions, product upgrades, product launches & approvals, partnerships, and collaborations.
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