The Latin American wound dressing market is expected to witness the fastest growth in Brazil. This can be mainly attributed to the high incidence of chronic injuries and various research and development (R&D) programs conducted by the government in the country. For example, according to a research conducted in the Brazilian Synchrotron Light Laboratory, nitric oxide (NO) may be an excellent therapy ingredient in wound dressings to bring beneficial results in the treatment of chronic wounds. As per the research, the product development is based on the usage of supramolecular poly (acrylic acid) hydrogel, which contains nanometric micelles of another polymer, and S-nitrosoglutathione as the NO donor.
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Based on type, the Latin American 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 American 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 American wound dressing market in 2018. The Latin American 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.
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The increasing number of product approvals is paving the way for various market players to expand their product portfolio in the Latin American 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.
Some of the other key players operating in the Latin American 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.
Source: P&S Intelligence