PUBLISHER: Allied Market Research | PRODUCT CODE: 1192973
PUBLISHER: Allied Market Research | PRODUCT CODE: 1192973
The global silver wound dressings market was valued at $889.1 million in 2021, and is projected to reach $1,511.8 million by 2031, registering a CAGR of 5.4% from 2022 to 2031.Silver wound dressings are antimicrobial dressings, which are integrated with silver. The metal, in ionized form, exhibits enhanced antifungal and antimicrobial properties, and are used in wound dressings for preventing biofilm formation by pathogenic bacteria These dressings are wound care products intended to manage bioburden in acute and chronic wounds. In addition, these dressings provide antimicrobial action on low to high exudates wounds, ulcers, and burns.
The key factors that drive the growth of the market are increase in prevalence of sport related injuries and & road accidents, rise in geriatric population, and surge in number of surgical procedures. For instance, according to International Diabetes Federation, in 2021, approximately 537 million adults (20-79 years) are living with diabetes. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. Furthermore, it was estimated that more than 1.2 million children and adolescents (0-19 years) are living with type 1 diabetes and 541 million adults are at increased risk of developing type 2 diabetes.
Moreover, the rise in awareness of the beneficial properties of silver incorporated dressing such as antimicrobial nature, reduction in healing time and lowered infection risks are the key factors boost the growth of the market.
However, the high cost of silver wound care is expected to hinder the growth of the market. On the other hand, rise in geriatric population, increasing awareness towards advanced wound care therapies and high growth optional in developing economies are anticipated to provide lucrative opportunities for the growth of the market during the forecast period.
The silver wound dressings market is segmented on the basis of product type, treatment, end user, and region. By product type, it is categorized into sheets, gel & creams, foams, and others. The gels & creams segment is further classified into alginate, hydrogel, silver sulfadiazine and others. By treatment, the market is categorized into ulcers, skin grafts, lacerations & cuts, surgical wounds, burns, and others. By end user, the market is fragmented into hospital & clinics, ambulatory surgical centers, and homecare. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
North America accounted for a majority of the silver wound dressings market share in 2021 and is anticipated to remain dominant during the forecast period. The market is mainly driven by the presence of well-established healthcare facilities and a high prevalence rate of diabetes and chronic & acute wounds. Moreover, the presence of a number of key players involved in R&D activities for the development of technologically advanced products is contributing toward the market growth in this region.
Asia-Pacific is expected to register the fastest CAGR during the forecast period. This is due to the presence of large geriatric population and constantly improving healthcare infrastructure. In addition, the rapidly growing population, and increase in number of surgical procedures and road accidents, is set to drive the market growth in the Asia-Pacific region.
The key players that operate in the silver wound dressings market include 3M (Acelity Inc.), Medline Industries, LP, Argentum Medical LLC, B. Braun Melsungen AG, Convatec Inc, Dermarite Industries, Inc, Ferris Mfg. Corp., Ltd., Johnson and Johnson, Molnlycke Health Care AB, and Smith and Nephew PLC.
Key Benefits For Stakeholders
By Product Type
By Treatment
By End User
By Region