Latin America Wound Dressing Market to Reach $400.9 Million by 2024: P&S Intelligence


Latin America (LATAM) Wound Dressing Market by Type (Advanced [Foams, Hydrocolloids, Films, Alginates, Hydrogels, Collagen, Hydrofiber, Wound Contact Layers, Superabsorbent], Traditional [Bandages, Gauzes, Sponges, Abdominal Pads]), by Application (Chronic Wounds [Venous Ulcers, Diabetic Foot Ulcers, Pressure Ulcers], Acute Wounds [Surgical & Traumatic Wounds, Burns]), by End User (Hospital & Speciality Clinics [Inpatient Settings, Outpatient Settings], Home Healthcare, Long-Term Care Settings), by Geography (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Ecuador) – Market Size, Share, Development, Growth, and Demand Forecast, 2014–2024

NEW YORK, Jan. 10, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, Latin America wound dressing market is expected to reach $400.9 million by 2024. The market growth is primarily driven by growing geriatric population, rising prevalence of diabetes, high rate of brain injuries, and increasing number of patients with chronic wounds in the region.

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Based on type, the Latin America wound dressing market is bifurcated into advanced and traditional dressings. The category of advanced wound dressings is estimated to hold over 60.0% share in the market in 2018. This can be mainly ascribed to the growing use of these dressings in complex areas of application and the increasing prevalence of chronic diseases in the region. Advanced wound dressings are further classified into foams, hydrocolloids, films, alginates, hydrogels, collagen, hydrofiber, wound contact layers, superabsorbent, and other dressings. Among these, foam dressings are the most commonly used advanced dressings in the region and witness a high demand in the Latin America advanced wound dressing market.

Wound dressings are used for the treatment and management of chronic and acute wounds. Chronic wounds require higher application of wound dressings as compared to acute wounds, mainly due to the greater severity of these wounds. Based on application, the category of chronic wound dressings is estimated to generate revenue of approximately $200 million in the Latin America wound dressing market in 2018. The Latin America acute wound dressing market is further bifurcated into burns and surgical and traumatic wounds, of which the category of surgical and traumatic wound dressings is estimated to hold the larger market share, accounting for 91.0%, in 2018.

Browse report overview with 153 tables and 101 figures spread through 233 pages and detailed TOC on "Latin America (LATAM) Wound Dressing Market” at: https://www.psmarketresearch.com/market-analysis/latam-wound-dressing-market

Hospitals and specialty clinics; home healthcare; and long-term care settings are the major end users in the Latin America wound dressing market. Hospitals and specialty clinics, as an end-user category, hold the largest share in the regional market. The category is estimated to contribute 70.4% revenue to the market in 2018. This can be mainly ascribed to the presence of a vast patient pool in hospitals and clinics for the treatment of injuries.

The increasing number of product approvals is paving the way for various market players to expand their product portfolio in the Latin America wound dressing industry. For instance, in July 2018, ConvaTec Group Plc received the United States Food and Drug Administration (USFDA) approval for its AQUACEL Ag Advantage dressing for wound management. Based on the Hydrofiber technology, the dressing offers improved antimicrobial performance in wound treatment. Till July 2018, AQUACEL Ag Advantage dressing was available in the European and Asia-Pacific markets, wherein it was marketed as AQUACEL Ag+ Extra dressing. Its commercial availability in the U.S. was expected to commence alongside product evaluations in October 2018.

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Some of the other key players operating in the Latin America wound dressing industry are Hollister Incorporated; DeRoyal Industries Inc.; Johnson & Johnson; Smith & Nephew plc; Mölnlycke Health Care AB; 3M Company; Acelity L.P. Inc.; BSN Medical GmbH; HARTMANN GROUP; B. Braun Melsungen AG; and Coloplast A/S.

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