New York, USA, Jan. 30, 2023 (GLOBE NEWSWIRE) -- According to the newly published Research Dive report, the global moist wound dressings market is anticipated to rise at a stable CAGR of 5.2%, thereby garnering a revenue of $6,807.2 million in the 2022-2031 timeframe. This comprehensive Research Dive report presents a brief outlook of the current framework of the moist wound dressings market including its priority features like growth drivers, growth opportunities, restraints, and hindrances during the forecast timeframe of 2022-2031. The report also contains all the crucial market figures to help new entrants understand the market easily.
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Dynamics of the Market
Drivers: In the recent years, there has been a growth in the use of moist wound dressings in hospitals, which is expected to become the primary growth driver of the moist wound dressings market in the forecast period. Additionally, technological advancements and innovations in healthcare systems are anticipated to push the market forward.
Opportunities: Moist wound dressings have several advantages such as creating a conducive environment for wounds to activate collagen synthesis and faster healing. These advantages of moist wound dressings are predicted to offer numerous growth opportunities for the market in the forecast period. Moreover, various initiatives in the medical and healthcare sector are expected to help the market register substantial growth in the coming period.
Restraints: However, according to market analysts, the high cost of moist wound dressings might become a restraint in the growth of the moist wound dressings market.
Impact of Covid-19 on the Market
The Covid-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The moist wound dressings market, too, was negatively impacted by the pandemic. On the account of the rising number of Covid-related emergencies, the pandemic period saw a decline in the number of hospital admissions related to wound dressings. This reduction in admissions caused a decrease in the demand for moist wound dressings which brought down the growth rate of the market.
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Segments of the Market
The Research Dive report has fragmented the moist wound dressings market across different segments such as product, application, end use, and region.
Product: Foam Dressings Sub-segment to Grow with a High CAGR
By product, the foam dressings sub-segment is expected to be highly dominant by 2031. The growing application of foam dressings to treat surgical wounds, skin grafts, mild burns, skin irritation, infected wounds, etc., is predicted to help in the growth of this sub-segment.
Application: Surgical and Traumatic Wounds Sub-segment to be Highly Lucrative
By application, the surgical and traumatic wounds sub-segment is predicted to witness rapid growth by 2031. The growing prevalence of surgical and traumatic injuries like abrasions, lacerations, skin tears, bites, burns, etc., due to the growing number of surgeries is predicted to boost the growth of this sub-segment.
End Use: Hospitals Sub-segment to Flourish Immensely
By end use, the hospitals sub-segment is expected to have a significant market share by 2031. An increase in the prevalence of hospital-acquired illnesses is predicted to help in the growth of this sub-segment.
Market in the North America Region to be Significantly Profitable
By regional analysis, the moist wound dressings market in America region is anticipated to grow at a high CAGR in the forecast period. The increasing prevalence of diabetes, burns, and surgeries leading to a rise in cases of surgical site infection (SSI) is predicted to be the main growth driver of the market in this region.
Broader Insights Pertaining for the Specific Segments or Regions of the Moist Wound Dressings Market
Prominent Market Players
Some prominent players in the moist wound dressings market are
- Coloplast A/S
- Smith & Nephew plc
- Systagenix Wound Management Ltd.
- 3M
- B. Braun
- Derma Sciences
- Cardinal Health Inc.
- Convatec Group plc
- Hollister Incorporated.
- Medline Industries Inc.
These players are introducing and coming up with new technological advancements and innovations to gain primacy in the market- Inquire here to grab full report
For instance, in September 2022, Evonik, a German specialty chemicals company, announced that it was acquiring Coopmed, a medical technology company, in order to better the distribution of its biosynthetic cellulose wound dressing product, epicite®. The acquisition is, thus, done with a specific aim and it is expected to help the acquiring company to increase its foothold in the market.
Finally, this comprehensive report also summarizes many crucial facets of the global market including product portfolio, latest strategic developments, financial performance of the key players, and SWOT analysis.
More about Moist Wound Dressings Market:
- What are the Main Benefits of Moist Wound Dressings?
- Global Moist Wound Dressings Market to Generate $6,807.2 Million in the 2022–2031 Timeframe Due to Growing Applications of Moist Wound Dressings in the Hospitals
