The Global Market for Traditional Wound Management Products is Projected to Reach US$9.3 Billion by 2022

Growing Trend Towards Self-Treatment of Wounds Sustains Demand for Traditional Wound Management Products, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Traditional Wound Management Products market. The global market for Traditional Wound Management Products is projected to reach US$9.3 billion by 2022, supported by the growing trend towards self-treatment of wounds, product innovations, and growing demand from developing countries.

Traditional wound care comprising topical ointments, adhesive bandages and gauzes represents the standard treatment approach for minor injuries and cuts. These products principally offer treatment through wound coverage, thereby offering protection against potential infection. Despite the growing transition to advanced products, traditional wound management products continue to account for the bulk of the overall wound management products market. Growing consumer preference for self-care remains a perpetual growth driver in the market. Also, growing awareness and knowledge of emergency first aid bodes well for the market. Aging population, growing incidence of lifestyle diseases such as obesity and diabetes, favorable medical reimbursement policies in various countries and advancements in medical technology, among other factors continue to have a major impact on the market.

Among the product categories, demand for adhesive bandages is largely sustained by first-aid activities, with these products widely used in homes for treating small cuts, bruises, and sports injuries. Liquid or Spray Bandages are among the recent developments in the area of adhesive bandages. Besides keeping dirt and bacteria away from the wound, liquid bandage aids in reducing pain by covering nerve endings. Another factor benefiting sales in the market is the introduction of decorative bandages in varying shapes, sizes, and color. In addition, there are roll-ons and gel-centered bandages for blisters, latex-free bandages for sensitive skin, eco-friendly bandages with recycled plastic/PVC and animal-free adhesives, and ionized-silver bandages. Companies are focusing on the development of next generation of smarter bandages with added functionalities such as detection of infections at an early stage without removing the bandage and controlled release of drugs for optimum wound healing. Research is also underway to transform wound dressings into precise drug-delivery systems by incorporating nanomaterials. Nanotechnology enables incorporation of drugs between the bandage layers and also allows control over the amount of drug that can be released.

As stated by the new market research report on Traditional Wound Management Products, the Europe  represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market worldwide with a CAGR of 4.2% over the analysis period led by factors such as low price of traditional wound care products and their affordability across a larger section of the population and low levels of awareness over alternate advanced wound management solutions. Traditional products continue to be the mainstay of the market given the limited accessibility to healthcare services, and limited insurance coverage for advanced wound management solutions.

Major players in the market include B.Braun Melsungen AG, Beiersdorf AG, Cremer S.A., Medtronic plc, Derma Sciences Inc., Johnson & Johnson, Paul Hartmann AG, and Synergy Health Plc, among others.

The research report titled “Traditional Wound Management Products: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, challenges, issues, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US dollars for all major geographic markets including the US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World.  Segments analyzed include Adhesive bandages, Topical Ointments and Gauzes.

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