What are Major Factors Contributing to Boom of LATAM Wound Dressing Market?

 In 2020, Brazil registered 592,212 cancer cases and 259,949 deaths, as per the International Agency for Research on Cancer (IARC). Moreover, as per the World Health Organization (WHO), Latin America (LATAM) had recorded 1.3 million new cancer cases in 2018, which, according to the IARC, surged to 1.4 million in 2020. Similarly, the cases of heart diseases are also rising in the region on account of an unhealthy lifestyle, exposure to pollution, stress, and several genetic factors.


As per P&S Intelligence, due to the surging prevalence of such chronic conditions, the LATAM wound dressing market size will grow from $344.3 million in 2020 to $549.5 million in 2030, at a 5.0% CAGR between 2021 and 2030. This is because often, these chronic diseases result in long-lasting wounds, which are slow and hard to heal. Moreover, the surgeries done to treat these conditions also lead to wounds, which require an array of dressings for their management.

Of these two major kinds of products, advanced variants continue to account for the wider usage. Unlike traditional wound dressings that absorb the exudate and dry up the wound area, advanced dressings keep the area moist. Additionally, they allow gaseous exchange and prevent scarring and infection, which is why they are preferred in the region. Additionally, these products are majorly used for the treatment of chronic wounds, which are rising in incidence due to the increasing number of cases of chronic diseases.

A key factor contributing to the surging cases of chronic diseases and, in turn, long-lasting wounds, is the booming population of the elderly. People in the age group of 65 and above are expected to make up 19.0% of the total population of the LATAM and Caribbean regions by 2050, compared to 8.7% in 2019, says the United Nations (UN). Such people have inefficient biophysical processes and a weak immune system, both of which contribute to the occurrence of wounds. Additionally, in geriatric people, wounds develop quickly and heal slowly, which creates a high requirement for dressings.

Presently, Brazil is the largest country in the LATAM wound dressing market, and it will continue to generate the highest demand for such products in the years to come. This is because it is the most-populated country and also the one with the most-advanced healthcare infrastructure in the region. Moreover, several private and public organizations are taking initiatives to raise awareness on wound care in the country. Additionally, the increasing number of people suffering from chronic diseases is leading to a rise in the incidence of chronic wounds and, in turn, the usage of wound dressings here.

Therefore, with the growing prevalence of chronic wounds, the demand for wound dressing products will continue to escalate in the LATAM region.

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