The global silver wound dressing market size is expected to reach USD 1.3 billion by 2027, expanding at a CAGR of 5.7%, according to a new report by Grand View Research, Inc. The rising cases of diabetic foot ulcers, introduction of technologically advanced products, and increasing cases of accidents and burns globally are the key driving factors for the market.
The silver wound dressings are, basically, advanced bandages comprising of silver as the main component. These topical wound care products allow rapid healing owing to antibacterial and antimicrobial properties, which prevents further complications. The dressings are majorly available as hydrocolloid and foam, charcoal cloth, and barrier layers. The bandage can also be used along with adjunctive and topical therapies as it helps in the reduction of wound exudate, bacterial load, and healing of granulation tissues.
Silver Wound Dressing Market Report Highlights
- The silver foam dressing segment is anticipated to witness the largest market share over the forecast period owing to the increasing incidence of diabetic foot ulcers and venous leg ulcers across the globe
- The hospital segment held the largest market share in 2019 due to the rising cases of burns and accidents
- In Asia Pacific, the market is expected to witness the fastest growth over the forecast period owing to the rising number diabetic patients and growing medical tourism in the region
- Prominent players present in the silver wound dressing market are Smith and Nephew PLC., Mölnlycke Health Care AB, and 3M.
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In addition, the bandage is also very much effective in healing chronic and acute injuries. The increasing cases of burn wounds and diabetic foot ulcers across the globe are anticipated to be the major driving factors for the market. For instance, as per the journal published by the International Journal of Endocrinology in 2018, around 15.00% to 25.00% of patients suffering from diabetes have the risk of developing diabetic foot ulcers and in next three years, the risk rate may increase around 17.0% to 60.0%. Since, these dressings allows rapid and effective healing of diabetic foot ulcers, thus increasing incidence of chronic injuries are expected to surge the demand for these products, thereby propelling silver wound dressing market growth over the forecast period.
North America dominated the market in 2019 owing to rising cases of chronic diseases, road accidents, and presence of key market players in the region. Advanced healthcare infrastructure and availability of professionals will drive the market in the region over the forecast period. In Asia Pacific, the market is expected to grow fast over the forecast period owing to rising cases of chronic diseases in the region.
List of Major Companies in the Silver Wound Dressing Market
- Mölnlycke Health Care AB
- 3M
- Coloplast
- Medline
- Smith & Nephew PLC
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We have segmented the global silver wound dressing market on the basis of product, end-use, and region.
Product Outlook
- Traditional
- Advanced
End-use Outlook
- Hospitals
- Clinics
- Home Healthcare
- Others
Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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