As the First Line of Care for All Types of Injuries and Wounds, Traditional Wound Management Products Enjoy a Comfortable Niche Amidst the Exploding Popularity of Advanced Wound Care Solutions

The global market for Traditional Wound Management Products is projected to reach US$7.75 billion by the year 2024, driven by the ubiquitous need for   adhesive bandages, topical ointments and gauzes as the first line of care for all types of injuries and wounds.

Facing growing competition from newer and highly advanced products that offer faster wound healing, the global traditional wound care market (comprising topical ointment, adhesive bandages, and gauzes) is witnessing steady growth. Key factors driving growth of this market include increasing aging population, trend towards self-healthcare, and increasing awareness regarding the need for emergency first aid. Therefore, despite growing transition to advanced products both in the developing and developed economies, traditional wound management products are expected to continue to account for the bulk of the overall wound management products at least through the near term, given their cost effectiveness, easy availability, and widespread usage. In developed economies, including the US and Europe, where there is growing preference and adoption of various advanced products, the market is expected to grow at a relatively slow growth rate. In developing countries, however, traditional products are continuing to be the mainstay of the market, given the limited accessibility to healthcare services, low cost of these products, and limited insurance coverage for advanced wound management solutions. Moreover, although these traditional products fall behind in offering effective and quick healing and providing patient comfort, they are widely being used due to the widespread lack of awareness of alternate advanced products among various customers in developing countries.

Among the product categories, Adhesive Bandages represent the largest product segment, with Liquid or Spray Bandages being 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 market sales 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 product innovations, such as the development of Smart bandages with pH and temperature sensors; Smartphone-controlled Smart Bandages; keratin-based wound dressings; and Crustacean Shell Bandages. Two recent ground-breaking innovations in bandages include KerraCel Ag3+ by UK-based Crawford Healthcare and PuraPly by Massachussetts-based Organogenesis Inc.

As stated by the new market research report on Traditional Wound Management Products the Europe represents the largest region worldwide. Asia-Pacific is forecast to emerge as the fastest growing market worldwide with a CAGR of 4.9% 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., Derma Sciences Inc., Johnson & Johnson, Cardinal Health Inc., Mölnlycke Health Care AB, Paul Hartmann AG, and Vernacare, among others.

The research report titled “Traditional Wound Management Products - Market Analysis, Trends, and Forecasts” 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.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

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