Traditional wound management market | Coherent Market Insights

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2. TRADITIONAL WOUND MANAGEMENT MARKET ANALYSIS Traditional Wound Management Market, By Product Type (Bandages (Adhesive Bandages, Non-adhesive Bandages, Compression Bandages), Gauzes (Woven Gauzes, Non-woven Gauzes), Gauze Sponge (Woven Gauze Sponges, Non-woven Gauze Sponges), Sponges (Woven Sponges, Non-woven Sponges)), By Application (Skin and Diabetic Ulcers, Burns, Surgeries, Trauma, Others (skin cuts, primary dressings etc.)), By End User (Hospitals, Clinics, Diagnostic Centers, Homecare Settings, Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. Global Traditional Wound Management Market: Drivers Increasing prevalence of diabetic foot ulcers is expected to propel growth of the global traditional wound management market over the forecast period. For instance, in June 2018, the prevalence of diabetic foot ulcers was 51.8% in a community based study conducted by Kasturba Medical College, India. Moreover, increasing geriatric population is also expected to boost growth of the market, For instance, according to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015. North America region held dominant position in the global traditional wound management market in 2019, accounting for 30.4% share in terms of value, followed by Europe.

4. Figure 1. Global Traditional Wound Management Market Value (US$ Mn), by Region, 2019

5. Global Traditional Wound Management Market: Restraints Increasing development and adoption of advanced wound care products is expected to hinder growth of the market. For instance, in December 2019, researchers from ETH Zurich and the National University of Singapore reported development of superhydrophobic hemostatic nanofiber composites for fast clotting and minimal adhesion. Moreover, traditional wound management is a low-margin business. Most of the raw materials are exported from developing markets to markets strong in manufacturing and sale of finished products. Such trading happens at subsistence levels as these markets are mostly unorganized in nature. Lack of attractive margins steals prominence and the focus is gradually shifting from traditional products to advanced wound care management products. This in turn is expected to hinder growth of the market.

6. Global Traditional Wound Management Market: Opportunities Market players require to focus on better relationship with surgeon stakeholders in order to increase penetration of traditional wound management products in hospitals. Marketplace discussions indicate that surgeons play a key role in selection of wound dressing material. Offering this stakeholder group a plethora of product choice is expected to lead to higher probability of order generation. Moreover, improving regulatory scenarios in developing countries is also expected to offer lucrative growth opportunities for players in the market. Improvement and streamlining of regulatory processes in developing countries is expected to boost formalization of practice standards, development of better clinical treatment guidelines, standardize product usage, and shorten registration & licensing periods for traditional wound management products.

7. Value Chain Analysis - Optional

8. Price obtained by farmers and cotton and margin obtained by seed cotton suppliers • Cotton farmers holds little power to negotiate the prices of cotton as they hold negligible power in complex chain of cotton trade internationally. As raw cotton is supplied by farmers at below subsistence levels (mostly as bonded laborers), there is no margin gained by farmers – the phenomenon is more common in developing countries. The cotton collected by guilds is supplied to middlemen such as national cotton ginners association at ex-collection prices mostly. However, in developed economies cost plus a 2-3% mark-up is associated to match operating costs • As per the information obtained by CMI’s key opinion leaders, the cost of cotton production ranges from US$ 0.3 to US$ 0.4 per Kg of seed cotton. The cost of cotton production includes cost for land preparation (~14-15% of total cost of production), seed &sowing (~15-16%), manures and manuring (~10-12%), weeding (~20-23%), plant protection (~14-16%), and harvesting (~14-15%)

9. Fiber manufacturer to fabric manufacturer • Manufacturers of cotton fiber are benefited from increasing demand from the international markets. However, it faces intense competition from man-made fibers such as polyester and viscose • In 2015, Indian cotton yarn industry produced over 6,600 Mn Kg of spun yarn, which generated a revenue of around US$ 1.94 Mn. However, the cotton yarn industry faces the biggest restraint of price volatility as price stability of cotton yarn depends on price of raw cotton and demand in the fabric market • As per interviews conducted by CMI, average profit margin for top 10 Indian spinners were obtained as 12-15% • This profit margin for fiber manufacturers is influenced by three parameters Viz. cost of raw material, conversion cost and yarn selling price. Cost of conversion includes cost for electricity, wages and salaries to workers, storage and packing cost etc. • In India, the conversion cost of 1Kg of fiber is US$ 0.04 –US$ 0.05 and the average conversion cost is increasing over the years. However, profit margin can be increased by controlling the conversion cost

10. Global Traditional Wound Management Market: Competitive Landscape Major players operating in the global traditional wound management market include, Smith & Nephew plc., B. Braun Melsungen AG, Johnson & Johnson Pvt. Ltd., Medtronic Plc., Cardinal Health, Derma Sciences Inc., Paul Hartman AG, Molnlycke Health Care, Medline Industries, Inc., DUKAL Corporation, and BSN Medical. Global Traditional Wound Management Market: Key Developments Major players in the market are also focused on adopting collaboration and partnership strategies to expand their product portfolio. For instance, in January 2018, Mölnlycke partnered with Tissue Analytics, a developer of sophisticated digital wound imaging platforms.

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