3M is a global manufacturer, technology innovator and marketer of a wide variety of products and services. The company manages its operations in four operating business segments namely, Safety & Industrial, Transportation & Electronics, Health Care, and Consumer. The Safety & Industrial business segment include businesses such as industrial adhesives & tapes, personal safety, automotive aftermarket, electrical markets, etc. The company caters to a wide range of industries including automotive, commercial solutions, design & construction, electronics, energy, health care, manufacturing, safety, and transportation. The company has presence in Europe, Middle East and Africa, Americas, and Asia Pacific region. Globally, the company operates 97 manufacturing and converting facilities in 35 countries. Company provides wide range of products in advance wound dressings category.
Mölnlycke Healcare AB and 3M – Notable Market Players in the Wounds Dressings Market
Mölnlycke, a Sweden-based company, is a world-leading medical products and solutions company. It helps to equip healthcare professionals to achieve the best patient, clinical and economic outcomes and provide solutions to hospitals and home care as well. Company presence is in more than 100 countries and has operations in more than 40 of them. The company designs and supplies medical solutions to enhance performance in healthcare services from the hospital to the at-home healthcare services. The company has a strong base of customers worldwide. The company operations are focused on providing effective solutions and offering better value for money to its customers and patients. The company has well-established business unites in various locations worldwide. The company has about 14 manufacturing sites, 38 sales offices, a global R&D facility, and a presence in more than 100 countries.
The Wound Dressings market is comprised of top players involving Mölnlycke, Smith+Nephew Plc, and 3M
The companies listed above are implementing various strategies such as product launches, acquisitions, mergers, and partnerships, which have resulted in the company’s growth and, in turn, have brought about various changes in the worldwide market. Additionally, the companies have adopted several inorganic and organic strategies for accelerating their growth and improving their market position.
Below is the list of the growth strategies done by the players operating in the wound dressing Market:
| Year | News |
| Jan-2022 | Convatec announced the release of ConvaMax. ConvaMax is a new superabsorber dressing distributed by Convatec. ConvaMax superabsorber wound dressing is used to manage highly exuding wounds, including leg ulcers, pressure ulcers, diabetic foot ulcers, and dehisced surgical wounds. The product launch aimed to increase the company’s revenue stream and enrich the product pipeline. |
| Apr-2021 | 3M announced its latest addition to a new class of silicone adhesives that balances strength, flexibility and comfort. The 2484 3M Hi-Tack Silicone Adhesive is breathable, conformable, enables up to a seven-day wear time and minimizes skin cell removal, making it the ideal candidate for applications on fragile skin. This is the second product to join the 3M Hi-Tack Silicone Adhesive Portfolio, with 2480 3M Hi-Tack Silicone Adhesive, in a matter of months. |
| Nov-2021 | Convatec announced a three-year extension to Advanced Wound Care agreement with Vizient. The new agreement provided wound formulary standardization and savings programs which is expected to provide both clinical and financial value for Vizient members as well as greater market share growth opportunities for Convatec. |
| Oct-2019 | 3M announced today that it has completed the global acquisition of Acelity, Inc. and its KCI subsidiaries from a consortium led by Apax Partners (the Apax Funds) and controlled affiliates of the Canada Pension Plan Investment Board (CPPIB) and the Public Sector Pension Investment Board (PSP Investments) for a total enterprise value of approximately US$ 6.7 billion, including debt assumption and other adjustments. Acelity is a multinational medical technology firm that focuses on enhanced wound care and speciality surgical applications under the KCI brand. |
