Alginate Dressings Market to Jump at a CAGR of 4.1%, Amid
Seoul, Nov. 10, 2022 (GLOBE NEWSWIRE) — The alginate-based wound dressing market reached a valuation of US$1 billion in 2022. Additionally, over the valuation period 2022-2032, growth is expected to accelerating at a CAGR of 4.1%, reaching US$1.50 billion. The growing prevalence of chronic and acute wounds is the main driver of the sector. According to recent forecasts published in NCBI (2022), the global annual incidence rate of diabetic foot ulcers is expected to be between 9.1 million and 26.1 million. Similarly, the Independent Diabetes Trust in the UK stated in its report (2019) that while 278,000 people are treated for venous leg ulcers, around 115,000 people suffer from diabetic foot ulcers each year.
Additionally, the increased prevalence of severe burns could drive the growth of the market. According to the Undersea and Hyperbaric Medical Society, more than 2 million burns are recorded in the United States each year, 14,000 people die and another 20,000 need to be admitted to a burn unit. In addition, around 75,000 people need to be hospitalized every year, 25,000 of whom stay longer than two months. Also, increased incidence of burns, trauma, and traffic accidents are expected to boost the growth of the industry. For example, WHO (2018) estimates that more than one million people in India suffer from severe or moderate burns every year.
Alginate dressing can provide an excellent protective barrier for newly healed skin that is still intact, as well as partially healed wounds that may need protection from potential surface damage. Due to the aforementioned product benefits, adoption is expected to increase throughout the projection period.
Key insights from market research
As of 2022, the alginate dressing market is expected to be valued at US$1 billion
From 2022 to 2032, Alginate Dressings industry is poised to flourish at a CAGR of 4.1%
By 2032, the alginate dressing landscape is expected to reach a valuation of US$1.50 billion
By end-user, the hospital segment is expected to lead the market, documenting a CAGR of 4.3%
According to Fact.MR projections, the UK alginate dressing market is likely to grow at a CAGR of 3.9%.
Competitive landscape Alginate dressing manufacturers are actively working on new product development and business acquisitions to increase their product portfolios in the industry. Additionally, spending on product research and alliances with other healthcare organizations are major techniques used by manufacturers to increase sales and revenue. Some important market developments are as follows:
In October 2022, Medline and Hoag Memorial Hospital Presbyterian Health System in California formed a multi-year, $200 million collaboration with leading vendors. The strategic relationship will provide a broad portfolio of important medical supplies and solutions to the system’s comprehensive acute and non-acute care network in support of the full continuum of care for the Orange County community. The two companies will work together to develop innovative ideas to improve supply chain operations, patient outcomes and clinical efficiency of the system.
Major Actors of the alginate dressing service
Blacksmith and nephew
Paul Hartmann AG
B. Braun Melsungen
Molnlycke Health Care AB.
Medline Industries, Inc.
Key segments covered by the Alginate Dressings industry survey
Surgical and traumatic wounds
Diabetic Foot Ulcers
Venous leg ulcers
Other chronic wounds
Per end user:
Middle East and Africa
Quick purchase: Alginate Dressings Market Research report
More information available Fact.MR, in its new offering, presents an unbiased analysis of the global alginate dressings market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period 2022-2032.
The study reveals essential information on the basic type (antimicrobial and non-antimicrobial), application (acute wounds, surgical and traumatic wounds and burns), chronic wounds (diabetic foot ulcers, pressure ulcers, venous ulcers of leg and other chronic wounds), by End User (hospitals, clinics, homecare and others), in five major regions (North America, Europe, Asia-Pacific, Latin America and Middle East and Africa).
scar film market: The global market for wound healing films reached a valuation of US$674 million and should climb up to US$1.08 billion by the end of 2032, expanding at a steady rate CAGR of 4.8% over the decade.
Antimicrobial Dressings Market: By Products (Silver, Iodine, Honey, Foam, Collagen, Hydrogen) and by Application (Chronic Wounds, Surgical Wounds, Acute Wounds) and by End-Use (Hospitals, Specialty Wound Management Facilities) and Region – Forecast to 2021-2031
Rolled Tissue Analysis Solutions Market: The global market for wound tissue analysis solutions is highly consolidated with a handful of players dominating the scene owing to the nascent stage of the market and the high technological intensity of these devices. The market for wound tissue analysis solutions is dominated by developed regions such as North America and Europe due to faster adoption of technology and high per capita income.
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