Hydrogel Dressing Market Growing At A CAGR Of 10.1% And To Target $695 million By 2027
Pune, Maharashtra, India, September 24 2020 (Wiredrelease) Allied Analytics –:According to the report by Allied Market Research, the global hydrogel dressing market is estimated to register a CAGR of 10.1% from 2020 to 2027. The research helps leading players and startups to devise new strategies based on current market trends and changing dynamics. Competitive landscape is mentioned in the report based on business segments, products portfolio, and strategic moves & developments of leading market players. Detailed segmentation assists in determining growing segments and determining further steps to capitalize on lucrative segments. Regional landscape is helpful in determining opportunities and driving factors of each region and taking further steps.
Hydrogel dressing are used to treat chronic & acute wounds, such as burns & ulcers, and postoperative wounds. These dressings are made of synthetic polymers, usually polyvinyl pyrrolidine and methacrylate. They contain more than 90% of water with glycerine base. Hydrogel dressings provide cooling effect at the site of wound, thereby causing reduction in the pain, wound debridement, granulation re-epithelization, and regulation of exchange of fluids in wounds. Hydrogel dressings provide moist environment for wound healing. The hydrogel dressing products provide solutions to patients suffering from chronic condition by offering them reasonably priced and readily accessible products.
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The major factors that boost the growth of the global hydrogel dressing market include rise in adoption of evidence-based treatments for chronic wounds and rapid increase in geriatric population. In addition, hydrogel dressing products promote faster wound healing, and hence are gaining an edge over traditional wound care and closure products, which in turn contributes toward the growth of the market. Moreover, the particularly advantageous in burn injuries as autolytic debridement aids regeneration and reduces the risk of hypertrophic scarring and infection. This application of hydrogel dressings with antimicrobial agents such as honey and silver can significantly enhance wound closure and accelerate the rate of re-epithelialization and continuous advancements in hydrogel dressing is further expected to boost the market growth during the forecast period. Furthermore, increase in prevalence of diseases such as ulcer, diabetes, obesity, increasing use of hydrogels for treatment of burn injuries, and growing aging population is expected to fuel the adoption of hydrogel dressing products. In addition, rise in awareness regarding hydrogel dressing and management among individuals boosts the demand for hydrogel products such as amorphous hydrogel, impregnated hydrogel, and sheet hydrogel. However, low income and lack of proper medical attention in the developing countries are expected to hamper the growth of the market.
By end user, the global hydrogel dressing market can be categorized into hospitals, physician’s office and others. The hospital segment accounted for the highest revenue share in the hydrogel dressing market in 2019 and is expected to maintain its dominance during the forecast period. This is attributed to rise in prevalence of postoperative surgical wounds, surge in geriatric population and owing to availability of skilled physicians and infrastructure in hospitals.
In addition, Improving health care infrastructure, advancements in remote monitoring technologies in case of advanced wound care products, rising government initiatives with an objective of improving awareness about diagnosis and treatment among patients with diabetes, and significant focus of major market players on offering cost-effective products in order to improve the quality of patients’ lives are some of the major factors projected to drive the global hydrogel dressing market during the forecast period. Moreover, in awareness toward hydrogel dressing and improved advancement in hydrogel dressing products, are expected to offer remunerative opportunities for the market expansion in the near future.
In 2019, North America accounted for the major share of the hydrogel dressing market and is expected to continue this trend during the forecast period, presence of majority of key players, availability of advanced healthcare infrastructure, the strong market presence of leading vendors, increasing number of surgical procedures, and the prevalence of chronic wounds rise in prevalence of diabetes, ulcer and availability of hydrogel products boost the market of hydrogel dressing in North America. However, Europe is expected to register the highest growth in the coming future.
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The Major Key Players Are:
• 3M Company
• B Braun Melsungen AG
• Coloplast A/S
• Conva Tec Group Plc.
• Svenska Cellulosa AB
• Integra Lifesciences (Dermasciences)
• Smith & Nephew Plc.
• Johnson & Johnson
• Axelgaard Manufacturing Co. Ltd.
Key Findings Of The Study
• Depending on product, the amorphous hydrogel segment held 64.4% share in the global hydrogel dressing market in 2019.
• By end user, the hospital segment accounted for the largest hydrogel dressing market share in 2019 and is expected to remain dominant throughout the forecast period.
• Region wise, Asia-Pacific is expected to exhibit highest CAGR of 12.1% during the forecast period.
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