London, April 18, 2024 (GLOBE NEWSWIRE) -- Global alginate dressings market is predicted to reach value of US$1.24 Bn from the value of US$0.9 Bn attained in 2022 expanding at a CAGR of 4.5% during the forecast period from 2024 to 2031. This market growth is marked by the factors such as increasing prevalence of chronic wounds and growing adoption of wound care products.
Alginate dressings find applications in hospitals, clinics, ambulatory surgical centers, and home care settings. They are utilized for the management of acute and chronic wounds, providing effective exudate management and promoting the healing process.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Market Size in 2022 | US$0.9 Bn | |
| Estimated Market Size in 2030 | US$1.24 Bn | |
| CAGR | 4.5% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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The global alginate dressings market has been experiencing steady growth due to the increasing prevalence of chronic wounds, such as diabetic foot ulcers and venous leg ulcers, as well as the rising geriatric population. The market size is influenced by factors such as technological advancements, increasing awareness about wound care management, and the introduction of innovative products.
The incidence of chronic wounds is likely to continue increasing, providing significant growth opportunities for market players as the population ages and lifestyles change. Emerging economies are investing in healthcare infrastructure development, which includes the expansion of hospitals, clinics, and wound care centers. This expansion, coupled with growing healthcare expenditure, is expected to boost the adoption of advanced wound care products, including alginate dressings.
There is a growing awareness among patients and healthcare professionals regarding the importance of proper wound care management. Patients are becoming more proactive in seeking effective treatment options for chronic wounds, driving the demand for advanced wound dressings like alginates.
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Key Research Insights
- The antimicrobial category dominated the industry in 2022 and continues to dominate in the forthcoming years.
- The chronic wounds segment is anticipated to dominate in terms of market share.
- The market for alginate dressings is expected to be dominant in North America.
- The market for alginate dressings is expanding in Asia-Pacific.
Insights into Segmentation Analysis
Chronic Wounds Category Dominated the Market
- The chronic wounds category dominated the industry in 2022.
- Since the usage of alginate wound dressings aids in the healing of foot ulcers, the segment is predicted to expand throughout the forecast period as the prevalence of diabetic foot ulcers and the number of people with diabetes rise.
- Increasing rates of diabetes and diabetic foot ulcers are a significant element in the segment's expansion.
- The acute wound category is anticipated to grow substantially throughout the projected period.
- Acute wound infection locations frequently use the alginate dressing. The market for alginate dressings has expanded generally due to the increase in surgical site acute infections.
Hospital Segment Obtained Notable Market Share
- The hospital segment acquired a key market share in 2022. An increase in the number of patients and hospitals around the world can be blamed for this segment's domination.
- The market is growing as a result of an increase in surgical procedures.
- Alginate dressings are frequently used to cover surgical incisions, thus, as more surgeries are performed, their use is anticipated to grow.
- The home healthcare category is anticipated to expand at significant CAGR throughout the projected period because of the increased preference shift of patients from hospital to home care settings for individualised wound care.
Key Report Highlights
- The increasing prevalence of chronic conditions is estimated to drive the demand for alginate dressings.
- Ongoing research and development efforts are focused on enhancing the properties of alginate dressings.
- Alginate dressings find applications in hospitals, clinics, ambulatory surgical centers.
Insights into Regional Analysis
Asia Pacific Holds a Key Opportunity in the Market
- The market for alginate dressings was dominated by Asia Pacific region as well.
- The demand for alginate dressing in the area has grown tremendously thanks to nations like China, Japan, India, and others.
- The need for alginate dressing has increased as a result of important drivers for the expansion of the pharmaceutical, healthcare, home healthcare services, and other end-use industries.
- The market in this area is also growing as a result of greater government support and a focus on the key Asian developing countries by major firms.
- The demand for the alginate dressing market has increased due to the rise in unintentional instances and the number of diabetes patients in China.
North America Accounts for the Notable Share
- North America dominates the market for alginate dressing. Throughout the predicted period, this region is also expected to continue to dominate.
- The demand for alginate dressing has increased generally because of the growing population, an increase in acute and chronic wounds during post-operative procedures, and an increase in the number of diabetes patients.
- The combined demand for alginate dressings is anticipated to rise as a result of these causes.
Key Companies Profiled in the Global Alginate Dressings Market
- Coloplast Corp.
- ConvaTec
- Cardinal Health
- Paul Hartmann
- Healthium Medtech
- Smith & Nephew
- Hollister Inc.
- Molnlycke Health Care AB
- Medline Industries, Inc.
- Braun Melsungen
- 3M
- Winner Medical's
- Delta Care Rx
- Kerecis
- BSN medical GmbH
Global Alginate Dressings Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Type Coverage, By Form Coverage, By Application Coverage, By End User Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/alginate-dressings-market
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