Global Hydrogel Dressings Market 2019-2023 - Increasing Prevalence of Acute and Chronic Wounds to Boost Demand - Technavio
LONDON--(BUSINESS WIRE)--Nov 13, 2018-- analysts forecast the global hydrogel dressings market to grow at a CAGR of over 6% during the forecast period, according to their latest market research report. The growth momentum of the market is expected to accelerate in the year-over-year growth.
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Technavio analysts forecast the global hydrogel dressings market to grow at a CAGR of over 6% by 2023. (Photo: Business Wire)
Increasing demand for combination dressings is one of the major trends being witnessed in the . A growing demand for antimicrobial agents such as silver, honey, iodine, and hydrogels are leading to the increased adoption of combination dressings and driving the growth of the global hydrogel dressings market. Combination dressings are increasingly being adopted by many end-users due to their advantages such as ease of use and easy availability. These are extremely advantageous as it is natural and non-toxic. Thus, combination dressings help prevent bacterial infection in chronic wounds and are gaining importance in treating highly exuding wounds.
According to Technavio analysts, one of the key factors contributing to the growth of the global hydrogel dressings market is the increasing prevalence of acute and chronic wounds:
Global hydrogel dressings market: Increasing prevalence of acute and chronic wounds
Increasing incidence of acute wounds, traumatic wounds, and chronic wounds are estimated to increase the demand for hydrogel dressings. Approximately, 10-20 out of every 1000 individuals in developed countries will experience a chronic wound in their lifetime. Pressure ulcers are chronic wounds which are caused by unrelieved pressure on the skin and can develop over the hip, shoulder, and back. Pressure ulcers appear as an abrasion, persisting redness of the skin, and blisters that can be treated using hydrogel dressings.
According to a senior analyst at Technavio, “The global diabetic population is estimated to increase from 414 million in 2017 to approximately 485 million by 2025. Nearly 150 out of every 1000 patients with diabetes will have a diabetic foot ulcer, which is a chronic wound. 15%-25% of diabetes patients develop diabetic foot ulcers in their lifetime. Also, according to the CDC, more than one in 10 nursing home residents in the US suffer from pressure ulcers, which is again a form of chronic wound. These chronic wounds require treatment using hydrogel dressings. Thus, the demand for hydrogel dressings is expected to increase, which in turn will drive the growth of the global hydrogel dressings market.”
Global hydrogel dressings market: Segmentation analysis
The global hydrogel dressings market research report provides market segmentation by product (amorphous hydrogel dressings, impregnated gauze dressings, and hydrogel sheets) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2018, accounting for close to 51% share. It was followed by EMEA and APAC respectively. The Americas is the major revenue contributor to the global market, while APAC is the fastest growing geographical segment of the global hydrogel dressings market.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: HEALTH MEDICAL SUPPLIES
SOURCE: Technavio Research
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