Increasing number of surgeries is expected to drive the growth of global alginate dressing in the forecast period, 2024-2028.
According to TechSci Research report, “Alginate Dressing Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, the global alginate dressing market is anticipated to grow at an impressive rate in the forecast period, 2024-2028. This can be ascribed to the increasing incidence of chronic and acute wounds related infections across the globe. Additionally, increasing number of surgical site infections along with the rising number of road accidents, especially in the developed countries in North America and Europe, is expected to create lucrative opportunities for market growth in coming years. Besides, increasing the number of diabetes and diabetic foot-related ulcers is further expected to support the market growth. Similarly, the rising number of burns, and trauma-related cases will further boost the market growth during the forecast period. Sometimes, serious bleeding issues and other injuries needed immediate medical attention and surgical procedures to provide patients with immediate relief which will further boost the market growth over the years. For instance, the world health Organization in 2018, estimates that over 1,000,000 individuals in India suffer from severe or moderate burns each year. So, the growing adoption of advanced dressings will demand alginate dressings which in turn boost the market growth over the years.
However, high cost of medical expenditure can create affordability issues thereby slowing down the global alginate dressing market growth in the forecast period. Similarly, lack of awareness among individuals and healthcare professionals, especially in the developing countries may hamper the alginate dressing market growth during the forecast period. Also, poor reimbursement scenario and lack of insurance coverage for surgeries in emerging countries, can further restrict the growth of global alginate dressing market. Additionally, the high cost of alginate dressings may hamper the growth of the market during the forecast period.
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The global alginate dressing market can be segmented by type, by application, by end user and by region.
Based on type, the global alginate dressing market can be divided into antimicrobial and non-microbial. The antimicrobial segment dominated the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. This can be ascribed to increasing recent product launches and various studies on antimicrobial alginate dressing. Similarly, advancements in wound dressings have led to a move from basic dressings to advanced pharmaceutical active ingredients and devices which will further enhance the demand for alginate dressings and propel the market growth during the forecast period.
Based on end user, the market can be segmented into hospitals & clinics, homecare, ambulatory care centers, and others. The hospitals & clinics segment is expected to dominate during the forecast period on account of increasing patient population and the number of hospitals across the world. Similarly, the growing number of road accidents, burn injuries and different types of chronic diseases will create a burden on hospital segments which will further enhance the demand for alginate dressings and drive the growth of the market over the years.
Major companies operating in the global alginate dressing market are:
- 3M Company
- ConvaTec, Inc.
- Coloplast Corporation
- Smith & Nephew Plc
- B Braun Melsungen AG
- Medline Industries, Inc.
- Molnlycke Health Care AB
- Hollister Inc.
- Paul Hartmann AG
- Cardinal Health, Inc.
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.
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“North America is expected to dominate in the global alginate dressing market due to the increasing prevalence of chronic wound related diseases across the region. Furthermore, increasing the availability of appropriate reimbursement programs in the U.S and Canada along with increasing healthcare expenditure is further contributing to demand for dental contouring. Besides, the growing incidence of leg ulcers, pressure sores and infected surgical wounds along with the availability of skilled professionals and increasing demand for advanced wound care products like alginate dressing in the region, are further expected to create lucrative opportunities for the market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Alginate Dressing Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Type (Antimicrobial v/s non-Microbial), By Application (Acute Wounds v/s Chronic Wounds), By End User (Hospitals & Clinics, Homecare, Ambulatory Care Centers, Others), By Region and Competition”, has evaluated the future growth potential of global alginate dressing market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global alginate dressing market.
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