Latin American Wound Dressing Market Predicted To Rise Beyond $500.0 Million Value By 2030

By Author: Pramod Kumar
Total Articles: 97
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The key factors fueling the progress of the market are the surging geriatric population, the rising incidence of diabetes, the high occurrence of trauma and injuries, and the growing prevalence of chronic wounds around the region.

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The soaring geriatric population in various LATAM countries is a major factor driving the advancement of the market. As per the United Nations Department of Economic and Social Affairs (UNDESA), as much as 25% of the population of the Caribbean and LATAM regions is predicted to lie in the age group— 60 years and above by 2050. This would massively push up the demand for wound dressing in the region.

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The growing prevalence of diabetic foot ulcers (DFUs), which is a complication of diabetes mellitus, is augmenting the sales of wound dressing products in the region. This is because this disease requires regular dressing for its effective ...
... management. In addition to this, wounds tend to take a lot of time to heal in diabetic people. As a result, the surging population of diabetic people is driving the growth of the market.

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Between these, the chronic wounds category will record higher revenue growth in the market in the future. This would be due to the rising incidence of DFUs, pressure ulcers, and venous leg ulcers (VLUs) in the region. The LATAM wound dressing market is currently recording the highest growth in Brazil, as per the findings of the market research firm, P&S Intelligence. This is ascribed to the rapidly improving healthcare facilities and the soaring incidence of chronic diseases in the country.

Pramod has around 7 years of experience in market research and consulting services for healthcare industry. He holds varied experience in market sizing and forecasting with varied models, competition landscape, consumer behavior analysis, opportunity analysis, product/company benchmarking, data mining and others. He has successfully delivered multiple projects on go-to-market strategies, pricing strategy, price point analysis, Business Expansion, market entry and exit, share analysis and others. Prior to joining P&S Intelligence, he worked with different research companies, including Transparency Market Research and MarketsandMarkets Pvt Ltd. Some of the projects delivered by him include Scar Treatment Market, Skin Replacement and Substitutes Market, and Energy-Based Aesthetic Devices Market.