The Global Advanced Wound Dressings Market is likely to grow in the coming years with impetus from the growing emphasis on research and development of newer products within this market. According to a report published by Fortune Business Insights, titled “Advanced Wound Dressings Market: Global Market Analysis, Insights and Forecast, 2018-2025,” the market is projected to reach US$ 8,460.8 Mn by 2025. Fortune Business Insights has predicted that the advanced wound dressings market will rise from its 2017 valuation of US$ 5,916.8 Mn at a CAGR of 4.6%.
The use of wound dressings in healing procedures of chronic wounds has been increasing massively. Introduction of newer products such as hydrocolloids and film dressings have aided the growth of the global advanced wound dressings market. Increasing investment in research of development of newer products is likely to favor the growth of the global advanced wound dressings market.
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Advancements in Nanofiber Dressings to Enable Growth
In March 2018, researchers at the Harvard University seem to have come up with a new wound dressing that can exceptionally speed healing of intense wounds. The researchers claimed that they have come up with a dressing that would work including growth stimulators or cell regenerative factors. The wound dressings contained a protein that generate extra-cellular matrix and keeps regenerative tissues together. Additionally, the wounds that will be healed will possess minimal thickness and would not hinder or bother physical movements of the body. This advancement is likely to boost the global advanced wound dressings market in the forthcoming years.
Imbed Biosciences gets $2Mn Investment for Silver-Based Wound Dressings
IN April 2019, Imbed Biosciences announced that it received a fresh $2Mn investment for development of its processing unit for silver wound dressings. The company possessed a catalogue of products, one of which was MicroLyte Ag Antimicrobial Matrix. The company had already received FDA clearance for Microlyte, a dressing used for treating pressure ulcers, burns, and other post-surgical wounds. With the venture based investment, the company aims to complete commercialization of this product, which had reached a stalemate after previously being cleared by the FDA for clinical usage. The first of its kind wound dressing is likely to have an immediate effect on the global market and is likely to boost the global advanced wound dressings market in the forecast period.
Increasing FDA Approvals to Drive the Market
The exceptional advancements made in advance wound dressing products and the reduced side effects of newly introduced wound dressings have urged regulatory organizations such as the FDA to pass usage approvals. Furthermore, increasing approvals have encouraged companies as well as market entrants to come up with their own products. Recent approvals for advanced wound dressings include Crawford Healthcare’s KerraCel AG, Advanced Medical Solutions’ Surgical Silver Post-Operative Dressings, and Collagen Matrix, Inc.’s Matrix Collagen Particles. The aforementioned product approvals have favored the growth of the global advanced care dressings market.
Some of the leading companies operating in the global advanced wound dressings market are Smith & Nephew, Mölnlycke Health Care AB, and KCI Licensing Inc., Coloplast Corp, Derma Sciences Inc., ConvaTec, Inc., Integra LifeSciences, Medline Industries, Inc., and 3M.
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