A recent P&S Intelligence study has estimated the 2024 value of the Latin America wound dressing market to be $400.9 million. The key drivers of the domain’s growth are rising prevalence of diabetes, growing geriatric population and number of patients with chronic wounds, and high brain injury rate.
When segmented by type, the domain can be categorized into traditional dressings and advanced dressings. In 2018, the advanced dressings category is estimated to account for more than 60.0% share in the LATAM wound dressing market due to the rising utilization of such products in complex application areas as well as the growing number of people with chronic diseases. Advanced dressings further consist of the hydrocolloids, foams, alginates, films, collagen, hydrogels, wound contact layers, superabsorbent, hydrofiber, and others subcategories. Among all these, foam dressings are the most preferred type of advanced dressing in the Latin American region.
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Both, acute and chronic wounds, can be managed with wound dressing. Now, chronic wounds consume more dressing material compared to the acute type due to their more severe nature. It is being estimated that the wound dressing demand for chronic wounds will contribute a $200 million revenue to the Latin America (LATAM) wound dressing market in 2018. Coming to the acute wounds category, it is further subdivided into burns, and surgical and traumatic wounds. Of these, the surgical and traumatic wounds subdivision is expected to generate the larger revenue in 2018 (91.0% share).
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The domain is expected to grow the most in Brazil during the forecast period, primarily due to government research and development programs and increasing chronic injury incidents in the country. For instance, Brazilian Synchrotron Light Laboratory carried out a research, according to which nitric oxide (NO) may prove effective as a dressing material ingredient for chronic wounds. The research seeks to develop a product based on the use of supramolecular poly (acrylic acid) hydrogel, which contains an NO donor in the form of S-nitrosoglutathione along with the nanometric micelles of another polymer.
LATAM wound dressing market players, such as DeRoyal Industries Inc., Hollister Incorporated, Smith & Nephew plc, Johnson & Johnson, 3M Company, Mölnlycke Health Care AB, BSN Medical GmbH, Acelity L.P. Inc., Coloplast A/S., B. Braun Melsungen AG, and HARTMANN GROUP., are benefiting from product approvals in the region.
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