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Latin America Wound Dressing Market Set for Prosperity in Future

The Latin American (LATAM) wound dressing market generated a revenue of $348.6 million in 2019 and is predicted to progress at a CAGR of 4.9% between 2020 and 2030. Furthermore, the market is predicted to attain a valuation of $579.2 million by 2030. The surging geriatric population, the rising incidence of diabetes, the high occurrence rate of trauma and injuries, and the growing prevalence of chronic wounds are the major growth drivers of the market.

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Latin America Wound Dressing Market Set for Prosperity in Future

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  1. LATAM Wound Dressing Market To Generate $549.5 Million Revenue by 2030 1 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  2. Factors such as the rising prevalence of diabetes, growing aging population, increasing cases of injuries and physical trauma, and surging incidence of chronic wounds are projected to propel the growth of the Latin American (LATAM) wound dressing market at a CAGR of 5.0% in the forecast period (2021–2030). At this growth rate, the market size is expected to reach $549.5 million by 2030 from $344.3 million in 2020. Moreover, the market is witnessing a shifting preference toward more-advanced products from traditional wound dressings. Receive Sample Copy of this Report: https://www.psmarketresearch.com/market-analysis/latam-wound- dressing-market/report-sample One of the prime factors propelling the LATAM wound dressing market is the surging geriatric population. The population in LATAM is projected to age significantly over the next few decades. According to the World Population Ageing 2019 report, the number of people aged 65 years and above is projected to rise to 19.0% by 2050 from 8.7% in 2019 of the total population in the LATAM and Caribbean regions. Aged people have weakened body functions, leading to a longer period for wound healing. Moreover, the surging incidence of chronic wounds is another key factor driving the LATAM wound dressing market. The burden of chronic illnesses like cancer and cardiovascular diseases is growing rapidly in LATAM. For example, as per the International Agency for Research on Cancer (IARC), in 2020, the number of new cancer cases reached 1.4 million and 713,414 cancer-related deaths were reported in the region. Cardiovascular disorders and cancer often lead to chronic wounds, which are tough to heal and need extensive care for a longer period of time. The type segment of the LATAM wound dressing market is classified into advanced and traditional. Of these, the advanced category accounted for the larger market share in 2020, and it is projected to witness the faster growth in the coming years. This can be ascribed to the surging incidence of chronic wounds, along with the rising cases of chronic diseases and the increasing usage of advanced dressing products for the treatment of these wounds, in the LATAM region. Additionally, on the basis of application, the LATAM wound dressing market is classified into chronic wounds and acute wounds. Between the two, the chronic wounds category held the larger market share in 2020, and it is projected to witness the higher CAGR during the foreseeable period. This is ascribed to the surging incidence of fungating wounds, diabetic foot ulcers, and other kinds of chronic wounds in the region. These wounds require a longer period for healing and frequent use of wound dressing products. 2 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  3. On the basis of country, in 2020, Brazil held the largest share in the market. Additionally, the Brazilian market is projected to record the highest CAGR during the foreseeable period. This is attributed to the increasing healthcare spending, advancing healthcare infrastructure, and surging incidence of chronic illnesses. As per the WHO, 8.1% of the people suffered from diabetes in Brazil in 2020. Further, public and private associations have taken a number of initiatives to increase the awareness regarding wound care, which is likely to drive the market in the country. Thus, the rising incidence of chronic wounds and the surging geriatric population are expected to propel the demand for wound dressings in LATAM during the forecast period. The research offers market size of the global wound dressing market for the period 2013–2023. GLOBAL WOUND DRESSING MARKET SEGMENTATION Market Segmentation by Type Advanced • oFoams oHydrocolloids oFilms oAlginates oHydrogels oCollagen oHydrofiber oWound contact layers oSuperabsorbent Traditional • oBandages oGauzes oSponges oAbdominal pads oOthers Market Segmentation by Application Surgical Wounds Ulcers • • oDiabetic foot ulcers oPressure ulcers oVenous ulcers 3 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  4. Burns • Market Segmentation by End User Inpatient Facilities Outpatient Facilities Market Segmentation by Geography North America Wound Dressing Market • • • oBy type oBy application oBy end user oBy country – U.S. and Canada Europe Wound Dressing Market • oBy type oBy application oBy end user oBy country – Germany, U.K., France, Italy, Spain and Rest of Europe Asia-Pacific (APAC) Wound Dressing Market • oBy type oBy application oBy end user oBy country – Japan, China, India, and Rest of APAC Latin America (LATAM) Wound Dressing Market • oBy type oBy application oBy end user oBy country – Brazil, and Rest of LATAM Middle East and Africa (MEA) Wound Dressing Market • oBy type oBy application oBy end user oBy country – South Africa, and Rest of MEA 4 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  5. Disclaimer: P&S Intelligence always keeps its customers’ interests at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However, the information in publications is subject to fluctuations, as it is based on primary interviews of officials from various companies or organizations. P&S Intelligence is not responsible for any incorrect data provided by the key industry players of the concerned domain. The information or analysis in P&S Intelligence publications represents opinions based on research and should not be interpreted as statements of fact. Information in this report was believed to be correct at the time of publication, but cannot be guaranteed. P&S Intelligence does not endorse any product, service, or vendor depicted in its research publications. All intellectual properties, including trademarks and copyrights, belong to their respective owners and may be protected by copyright. Under no circumstance can these be reproduced in any form without prior written agreement of their owners. An order for market research report is intended for internal use of the company only and not for disclosure to third parties or any other publication in general. No service, report, or part thereof provided by P&S Intelligence can be reproduced, republished, resold, revealed, distributed, circulated, or sublicensed in any medium or form now realized or hereafter become realized, including but not limited to, all forms of optical-based media, magnetic, electronic, or digital, without a written permission from Prescient & Strategic Intelligence Pvt. Ltd. Kindly write to: enquiry@psmarketresearch.com B-13, Sector – 2, Noida, U.P. – 201301, INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886 5 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

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