Seoul, Nov. 10, 2022 (GLOBE NEWSWIRE) -- The alginate dressing market reached a valuation of US$ 1 Billion in 2022. Furthermore, across the 2022-2032 period of assessment, growth is expected to accelerate at a 4.1% CAGR, reaching US$ 1.50 Billion. The increasing prevalence of chronic and acute wounds is the primary driver of the sector. According to recent predictions published in NCBI (2022), the worldwide yearly incidence rate of diabetic foot ulcers is predicted to range between 9.1 million and 26.1 million. Similarly, the Independent Diabetes Trust in the United Kingdom stated in its report (2019) that whereas 278,000 individuals are treated for venous leg ulcers, around 115,000 people get diabetic foot ulcers each year.
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Furthermore, the increased prevalence of major burn injuries may drive market growth. According to the Undersea and Hyperbaric Medical Society, more than 2 million burn injuries are recorded in the United States each year, with 14,000 individuals dying and another 20,000 requiring admission to a burn unit. Furthermore, around 75,000 people require hospitalization each year, with 25,000 of them staying for more than two months. Furthermore, increased incidence of burns, trauma, and traffic accidents are expected to boost the industry's growth. For example, the WHO (2018) estimates that over 1,000,000 individuals in India suffer from severe or moderate burns each year.
Alginate dressing can provide a great protective barrier for newly healed skin that is still intact, as well as for partially healed wounds that may require protection from potential surface harm. Because of the aforementioned product benefits, adoption is expected to rise throughout the projection period.
Key Takeaways from the Market Study
- As of 2022, the alginate dressing market is likely to be valued at US$ 1 Billion
- From 2022 to 2032, the Alginate Dressing industry is poised to flourish at a 4.1% CAGR
- By 2032, the Alginate Dressing landscape is slated to reach a valuation of US$ 1.50 Billion
- By end-user, the hospital segment is expected to dominate the market, documenting a 4.3% value CAGR
- As per Fact.MR’s projections, the market for Alginate Dressing in the UK will likely expand at a 3.9% CAGR
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Competitive Landscape
Alginate dressing manufacturers are actively working on the development of new goods and the acquisition of firms in order to increase their product portfolios in the sector. Additionally, expenditures in product research and alliances with other healthcare organisations are major techniques used by manufacturers to increase sales and income. Some prominent market developments are as follows:
- In October 2022, Medline and the Hoag Memorial Hospital Presbyterian Health System in California have formed a $200 million multi-year prime vendor collaboration. The strategic relationship will deliver a wide portfolio of important medical supplies and solutions to the system's complete acute and non-acute care network in support of the Orange County community's full continuum of care. The two businesses will work together to develop innovative ideas for improving the supply chain operations, patient outcomes, and clinical efficiency of the system.
Major Alginate Dressing Service Players
- Cardinal Health
- Smith & Nephew
- 3M
- Coloplast Corp.
- ConvaTec
- Paul Hartmann AG
- B. Braun Melsungen
- Hollister Incorporated
- Molnlycke Health Care AB.
- Medline Industries, Inc.
Key Segments Covered in the Alginate Dressing Industry Survey
- By Type :
- Antimicrobial
- Non-antimicrobial
- By Application :
- Acute Wounds
- Surgical & Traumatic Wounds
- Burns
- Chronic Wounds
- Diabetic Foot Ulcers
- Pressure Ulcers
- Venous Leg Ulcers
- Other Chronic Wounds
- Acute Wounds
- By End User :
- Hospitals
- Clinics
- Home Healthcare
- Others
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global Alginate Dressing market, presenting historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis Type (Antimicrobial and Non-antimicrobial), Application (Acute Wounds, Surgical & Traumatic Wounds and Burns), Chronic Wounds (Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers and Other Chronic Wounds), by End-User (Hospitals, Clinics, Home Healthcare and Others), across five major regions (North America, Europe, Asia Pacific, Latin America and Middle East & Africa).
Fact.MR’s Domain Knowledge in Healthcare
Wound Healing Films Market: The global wound healing films market has reached a valuation of US$ 674 million and is forecast to climb to US$ 1.08 billion by the end of 2032, expanding at a steady CAGR of 4.8% over the decade.
Antimicrobial Dressing Market: By Products (Silver, Iodine, Honey, Foam, Collagen, Hydrogen) & By Application (Chronic Wounds, Surgical Wounds, Acute Wounds) & By End-Use (Hospitals, Specialty Wound Management Facilities) & Region - Forecast to 2021-2031
Absorbent Dressing Market Analysis: By Type (Traditional Wound Dressings, Advanced Wound Dressings), by Application (Surgical Wounds, Traumatic Wounds), by End-user & Region - Global Forecast 2020-2030
Wound Tissue Analysis Solutions Market: The global market for wound tissue analysis solutions is highly consolidated with a handful players dominating the scene owing to the nascent stage of market and the high technological intensity of these devices. The wound tissue analysis solutions market is dominated by the developed regions such as North America and Europe owing to faster adoption of technology and high per capita income.
About Fact.MR
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That’s why focus on offering insights that can actually make a difference to bottom-lines.
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