Global Hydrocolloids Market - 2022-2029

Market Overview

Hydrocolloids Market is expected to grow at a CAGR of 5.80% during the forecasting period (2022-2029).

A hydrocolloid is a colloid system wherein the colloid particles are hydrophilic polymers dispersed in water; depending on the quantity of water available, it can occur in different states, e.g., gel or solution (liquid). Hydrocolloid adhesive coating has colloid particles that soak exudate to create a hydrated gel over the wound, forming a moist surrounding that facilitates healing and protects new tissue.

Market Dynamics

Factors including increased road accidents, growing need for wound care management post surgeries, especially in diabetic patients, and surging demand for quick healing devices with minimal trauma are driving the hydrocolloids market.

The increased road accidents and the growing need for wound care management post surgeries fuel global market growth.

The rising traffic road accidents, surgeries, and the growing need for wound care management, especially for diabetic patients, are fueling the global market growth. For instance, according to the Organization for Economic Co-operation and Development provided statistics in 2020, France reported over 2 541 road accident demises, Germany reported 2 719 road accident dyings, Italy noted 2 395 road accident deaths, Japan documented 3 416 road accident casualties, Korea reported 3 081 road accident dyings Russia registered 16 152 road accident casualties, and the USA logged 38 680 road accident demises; WHO states that approximately 1.3 million people die each year as a result of road traffic crashes.

In addition, per the Organization for Economic Co-operation and Development, in 2020, over 40221447 major surgeries occurred in 47 countries worldwide. Moreover, as per the International Diabetes Federation, over 537 million adults (20-79 years) were diagnosed with diabetes in 2021, which is predicted to rise to 643 million by 2030 and 783 million by 2045 and was responsible for 6.7 million deaths in 2021.

The non-suitability for all wounds and the need for dry surroundings will hamper the global market growth.

However, the non-suitability for all kinds of wounds (such as wounds surrounded by fragile skin, infections, and injuries with heavy exudate), the need for dry surroundings, and the non-opaque nature of the dressing will hamper the growth of the market.

COVID-19 Impact Analysis

The COVID-19 pandemic in 2020 resulted in varying lockdowns and other restrictions in different member states of the United Nations Economic Commission for Europe (UNECE). While these restrictions reduced vehicle traffic to a greater or lesser degree, the impact on road traffic accidents was more nuanced. For instance, the UNECE data indicates that for the 22 countries that provided finalized annual data at the time of publication, 15 countries saw decreases. A simple summation of these countries saw an overall decrease of 8 percent. At the same time, the reductions in fatalities were a positive trend resulting from less traffic. Furthermore, due to the pandemic restrictions, planned surgeries were either postponed or canceled, and regular medical checkups were also difficult, which reduced the overall sales of hydrocolloid wound care products, negatively impacting the market.

Segment Analysis

The hydrocolloid dressing for burn wounds is predicted to dominate the global market during the forecast period (2022-2029).

The application of hydrocolloid dressing for burn wounds is estimated to be dominating throughout the forecast period (2022-2029) because of the benefits it offers in case of burn wounds, such as the breathable outer film layer has an extremely high absorption capacity within 48 hours and can consistently provide a high moisture vapor transmission rate, outer membrane barrier protects the wound and surrounding skin from contaminants, body fluids, bacteria, and viruses, also relieves pain caused by friction and pressure and is perfect for blisters on the hands, toes, and heels; it acts like a second layer of skin, creating a moist healing environment while protecting the blister from dirt, water, bacteria and helping the blister to heal naturally. Furthermore, the high incidences of burn cases fueling the growth of this segment; for instance, according to the data acquired from the World Health Organization Global Burn Registry, by September 2021, over 8,640 pediatric and adult entries were made from 20 different countries.

Geographical Analysis

North America is estimated to subjugate the global hydrocolloids market.

North America is estimated to oppress the global market during the forecast period (2022-2029), owing to the increasing incidences of road accidents in this region, burn cases, and major surgeries are taking place. The National Highway Traffic Safety Administration documented over 9,560 road accident deaths in the first quarter of 2022, showing an increase of about 7% compared to the 8,935 fatalities for the same quarter in 2021. In addition, a cohort study was conducted using administrative claims from a nationwide health care technology clearinghouse which concluded that over 5 973 573 surgical procedures took place in 2020, of which 3 156 240 procedures among women; 482 637 procedures among children; and 1 806 074 procedures among patients aged ≥65 years. Furthermore, according to the statistics from the International Diabetes Federation, around 51 million North American and Caribbean adults are living with diabetes which is expected to reach 57 million by 2030 and 63 million by 2045, contributing to the dominance of the North American region over the global market.

Competitive Landscape

The hydrocolloids market is competitive, with few major players competing to gain market share. Major global hydrocolloid market players include 3M, Amparo, Euromed, Sarasota Medical Products inc., Cardinal Health, ConvaTec, Fralock, and Hi-Tech Products Amerx Health Care Corp and Colzplast Corp, among others. These key players adopt various growth strategies like product launches, mergers & acquisitions, partnerships, and collaborations contributing to the growth of the hydrocolloids market. For instance, in October. 29, 2021, 3M Health Care and Thermo Fisher Scientific collaborated to increase process efficiency and scalability in commercial therapeutic manufacturing.

3M

Overview:

3M is a leading American company operating in the industry of worker safety, U.S. health care, and consumer goods. 3M has over 60,000 products under several brands, which include adhesives, abrasives, laminates, passive fire protection, personal protective equipment, window films, paint protection films, dental and orthodontic products, electrical and electronic connecting and insulating materials, medical products, car-care products, electronic circuits, healthcare software, and optical films. 3M was constituted in 1902 and is headquartered in Minnesota, United States. In 2021 the company had ~95,000 employees with operations in over 70 countries.

Product Portfolio:

3M's product portfolio for hydrocolloids has Nexcare and Tegaderm.

The global hydrocolloids market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.