United States, Rockville MD, July 14, 2022 (GLOBE NEWSWIRE) -- The global wound healing films market is projected to expand at a CAGR of 4.8% and reach a market valuation of US$ 1.08 billion by the end of 2032, as per detailed industry analysis by Fact.MR, a market research and competitive intelligence provider.
Market growth is attributed to factors such as consumers preferring innovative designs for improved holding capacity for a longer time span and also to withstand the various external unbalanced forces that help recover damaged skin faster as compared to other wound healing products. Producers of wound healing films are making use of these strategies to position themselves competitively in the market. Through these strategies, they are able to garner a wider consumer base and enhance their revenue.
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To improve product performance and durability, manufacturers are focusing on the adhesive quality used in wound healing films. Firms are also investing more in R&D, typically on water resistance capabilities, which are in high demand in the market at present. Furthermore, key players are conducting numerous clinical trials to gain customer trust by providing all the necessary information about the trial test results.
Key Takeaways from Market Study
- By application, the acute wounds segment is projected to provide an absolute $ opportunity of US$ 327 million over the forecast period (2022-2032).
- By end use, demand from hospitals is anticipated to reach US$ 770 million in market value by 2032.
- Surgical & traumatic wounds are expected to provide an absolute $ opportunity of US$ 237 million by 2032.
- North America is projected to capture around 33.4% of the global wound healing films market share by 2032.
- The market in Europe is predicted to provide an absolute dollar opportunity of US$ 109 million over the decade.
Winning Strategy
Prime manufacturers of wound healing films should focus on strategic partnerships with renowned hospital chains to gain a sizeable market share. To stand tall in this dynamic market, key players need to emphasize retail pharmaceutical stores by providing competitive margins and also forming an effective supply chain that fulfils the demand of end users in a particular time frame.
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Competition Landscape
3M Company, Covalon Technologies, Ltd., Cardinal Health, Comfort Release, Dermarite Industries, BSN Medical, Winner Medical Co. Ltd, and Smith + Nephew are the top companies in the wound healing films market.
Wound healing film brands are constantly investing in research and development to make improvements in product quality, durability, and waterproofing. Companies are focusing on a transparent policy where they mention all clinical trial results and outputs to maintain or gain the trust of consumers.
Key Segments of Wound Healing Films Industry Analysis
- Wound Healing Films Market by Application :
- Chronic Wounds
- Diabetic Foot Ulcers
- Pressure Ulcers
- Venous Leg Ulcers
- Other Chronic Wounds
- Acute Wounds
- Surgical & Traumatic Wounds
- Burns
- Chronic Wounds
- Wound Healing Films Market by End Use :
- Hospitals
- Specialty Clinics
- Home Healthcare
- Others
- Wound Healing Films Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the wound healing films market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of application (chronic wounds (diabetic foot ulcers, pressure ulcers, venous leg ulcers, others), acute wounds (surgical & traumatic wounds, burns)) and end use (hospitals, specialty clinics, home healthcare, others), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
About the Chemicals and Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals and materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analyzed the chemicals and materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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