Report : South America Wound Dressing Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Wound Dressing Type (Advanced Wound Dressing and Traditional Wound Dressing), Application (Chronic Wound and Acute Wound), and End User (Hospitals, Ambulatory Surgical Centers, Clinics, and Others)
At 5.6% CAGR, the SAM Wound Dressing Market is speculated to be worth US$ 911.56 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the SAM wound dressing market was valued at US$ 657.64 million in 2022 and is expected to reach US$ 911.56 million by 2028, registering an annual growth rate of 5.6% from 2022 to 2028. Growing adoption of technological advanced in wound dressings and dynamic R&D landscape leading to increased number of products launches, approvals, and collaboration are the critical factors attributed to the market expansion.
The wound dressing market experiences various changes in the technology landscape, enabling players to develop innovative products. State-of-the-art products may assist in conferring improved health conditions, thereby allowing people to live better lives. Leading companies consolidate the market through various R&D activities to offer modern products. For instance, in October 2021, Healthium Medtech Limited launched TRUSHIELD NXT surgical wound dressing. Further, In June 2021, Bactiguard and Schülke & Mayr GmbH (schülke) signed an exclusive distribution agreement for Bactiguard wound care solutions. Moreover, in February 2021, AxioBiosolutions announced that it received CE certification for its next-generation advanced wound care product range, MaxioCel. Further, to support the market development, the governments of many countries have invested in clinical-research infrastructure for wound care. Thus, the market is expanding due to a rise in product launches, approvals, collaborations, and the research infrastructure across the region.
On the contrary, unfavorable reimbursement scenario hurdles the growth of SAM wound dressing market.
- Based on wound dressing type, the SAM wound dressing market is bifurcated into advanced wound dressing and traditional wound dressing. The advanced wound dressing segment held 59.4% market share in 2022, amassing US$ 390.52 million. It is projected to garner US$ 551.13 million by 2028 to expand at 5.9% CAGR during 2022–2028. The advanced wound dressing is further segmented into foam dressings, superabsorbent dressings, film dressings, hydrocolloids dressings, wound contact layers, collagen dressings, and others. The traditional wound dressing is also segmented into dry dressings, surgical tapes, and anti-infective dressings.
- Based on application, the SAM wound dressing market is bifurcated into chronic wound and acute wound. The chronic wound segment held 60.8% market share in 2022, amassing US$ 399.62 million. It is projected to garner US$ 563.12 million by 2028 to expand at 5.9% CAGR during 2022–2028. The chronic wound segment is further segmented into pressure ulcers, diabetic foot ulcers, venous leg ulcers, and other chronic wounds. Similarly, the acute wound segment is bifurcated into surgical and traumatic wounds and burns wounds.
- Based on end user, the SAM wound dressing market is segmented into hospitals, ambulatory surgical centers, clinics, and others. The hospitals segment held 40.0% market share in 2022, amassing US$ 263.11 million. It is projected to garner US$ 374.74 million by 2028 to expand at 6.1% CAGR during 2022–2028.
- Based on country, the SAM wound dressing market has been categorized into Brazil, Argentina, and rest of SAM. Our regional analysis states that Brazil captured 49.9% market share in 2022. It was assessed at US$ 328.29 million in 2022 and is likely to hit US$ 469.63 million by 2028, exhibiting a CAGR of 6.1% during the forecast period.
Key players dominating the SAM wound dressing market are 3M; Advancis Medical; Axio Biosolutions Pvt Ltd; Coloplast Corp; Convatec Inc.; Integra LifeSciences Holdings Corporation; Medline Industries, Inc.; Medtronic; Mölnlycke Health Care AB.; and Smith+Nephew among others.
- In Jan 2021, Integra LifeSciences announced that it completed the previously disclosed acquisition of ACell, Inc. The acquisition enabled Integra to provide more comprehensive complex wound management solutions to address customers’ most pressing clinical challenges.
- In Jan 2019, Mölnlycke announced the acquisition of M&J Airlaid Products A/S. M&J is a Danish private company and manufacturer of specialized and high-quality absorbent airlaid nonwoven materials. The acquisition improved Mölnlycke’s security of supply of the airlaid material that is essential in the production of advanced wound care dressings and helped grow the wound care business by accelerating innovation and product development in existing and future products.
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