WOUND DRESSING MARKET ANALYSIS

Market Challenges And Opportunities

Wound Dressing Market - Restraints

Challenges in the wound dressing market such as product recalls, availability of alternative products, and high cost of wound dressing products are expected to hamper the global wound dressing market growth over the forecast period. Increasing number of product recalls is due to product failure, component inconsistency, and packaging problems. For instance, in August 2018, the U.S. Food and Drug Administration (FDA) initiated product recall of Simpurity Hydrogel Absorbent Sheet wound dressing from Safe N Simple, LLC, as the sterilization process performed on the dressing equipment was not certified by the U.S. FDA. Over the long term, it is possible that product’s quality might get deteriorated. The product recall process is still under inspection.

Furthermore, according to 2015 report by the College of Pediatric Medicine, 9%-20% of patients in the U.S. with diabetic foot ulcers require hospitalization. The report also states that the cost of treatment with advanced wound dressings is sometimes double when compared to conventional wound dressings. Moreover, according to the WHO, burn injuries are more prevalent in low and middle income countries. Therefore, companies need to develop cost-effective products for the large patient population in low and middle income countries of Asia-Pacific, Africa, and Latin America. The availability of wide range of affordable products is expected to fuel growth of the wound dressing market in these regions over the forecast period.