Wound dressing market is booming worldwide due to modern technologies that are being used in healing the wound. Gauze tapes, sponges, and surgical cotton swabs are some of the fast healing surgical dressings. Absorbent and packing gauze is a cotton fabric of various thread counts and weights, and is widely used in wound dressing. Wound dressing is the process of wound packing in order to prevent microbial infection and spreading of necrosis. Wounds are injuries to tissue such as cuts, scratches, punctured skin and scrapes, and is usually caused by accidents, burns and physical activities such as sports. Absorbent gauze is sometimes recommended to be placed on deep wounds where it promotes healing by preventing abscess formation. Absorbent and packing gauze is supplied in various sizes (lengths and widths) and forms (rolls and folds).
Growth of surgical dressing market
The market for absorbent and packing gauze surgical dressings is expected to grow worldwide owing to factors such as increasing incidences of road accidents and sports related injuries. Globally rising aging population and the growing prevalence of chronic diseases. In addition, the swift healing times brought about by the usage of wound dressings make them useful during emergency care. The rising incidence of wound infections raises the sale of wound dressings, thus having a positive impact on the market.
Development of new and innovative products will also contribute in driving the market growth in coming years. Geographically, North America and Europe are the leading markets for absorbent and packing gauze surgical dressings. In Europe, EU-5 countries (Germany, France, U.K., Italy and Spain) offers immense opportunities to companies operating in the absorbent and packing gauze surgical dressings market. However, over the past few years, Asia-Pacific has been the fastest growing region for absorbent and packing gauze surgical dressings market, mainly due to emerging economies of India, China and Taiwan.
The rising healthcare expenditure and growing awareness amongst patients about the benefits of wound dressings will also stimulate the market for wound dressings in the coming years. On the other hand, factors such as the soaring cost of advanced wound dressings may restrain demand within a number of Asian markets, thus having a negative impact on the overall market.
Surgical dressing: Key players
The market for absorbent and packing gauze surgical dressings is largely fragmented between domestic and multinational companies. In many Asian countries like India and China, local players supply these products at very low prices than multinationals and thus create intense price war among the players. Smith & Nephew Pty Ltd., Medline Industries, Inc., Covidien Ltd., UDL Laboratories, Inc. and ConvaTec, Inc. have been identified as the major players operating in the absorbent and packing gauze surgical dressings with a global presence.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.