Silver Wound Dressings Market

Silver Wound Dressings Market Research, 2031

The global Silver Wound Dressings Market Size was valued at $889.1 million in 2021 and is projected to reach $1,511.8 million by 2031, growing at a CAGR of 5.4% from 2022 to 2031. Silver wound dressings are antimicrobial dressings, which are integrated with silver. The metal, in ionized form, exhibits enhanced antifungal and antimicrobial properties and is used in wound dressings for preventing biofilm formation by pathogenic bacteria. These dressings are wound care products intended to manage bioburden in acute and chronic wounds. It provides a broad range of antimicrobial activity, reduces infection, and alters metalloproteinases within wounds.

The overall impact of COVID-19 remains negative on the silver wound dressings market. Owing to a decrease in the number of people visiting hospitals and clinics for surgical procedures or treatment. Moreover, nationwide lockdowns and most of the wound care centers across hospitals were closed during the pandemic as priority was given to COVID patients only unless an emergency arises for other conditions restraining the market’s growth during a pandemic.

The key factors that drive the Silver Wound Dressings Market Growth are an increase in the prevalence of sport-related injuries and & road accidents, a rise in the geriatric population, and a surge in the number of surgical procedures. For instance, according to the National Center of Biotechnology Information, in 2021, it was estimated that 3.5 million youth under the age of 15 years old received medical care each year for injuries that occurred during sports practice.

Moreover, according to World Health Organizations reports, published in June 2022, it has been estimated that road traffic injuries are the leading cause of death for children and young adults aged 5-29 years. Approximately 1.3 million people die each year as a result of road traffic crashes. More than half of all road traffic deaths are among vulnerable road users, pedestrians, cyclists, and motorcyclists. Thus, the rise in the prevalence of a number of injuries and the increase in focus on silver-based wound care products by pharmaceutical companies owing to greater awareness of the beneficial properties of silver-incorporated dressings on acute and chronic wounds propels the growth of the market. Moreover, the rise in awareness of the beneficial properties of silver-incorporated dressing such as its antimicrobial nature, reduction in healing time, and lowered infection risks are the key factors boosting the growth of the market.

However, the high cost of silver wound care is expected to hinder the growth of the market. On the other hand, a rise in the geriatric population, increasing awareness towards advanced wound care therapies, and high growth options in developing economies are anticipated to provide lucrative Silver Wound Dressings Market Opportunity in the forecast period.

The silver wound dressings market is segmented on the basis of product type, treatment, end user, and region. By product type, it is categorized into sheets, gel & creams, foams, and others. The gels & creams segment is further classified into alginate, hydrogel, silver sulfadiazine, and others. By treatment, the market is categorized into ulcers, skin grafts, lacerations & cuts, surgical wounds, burns, and others. By end user, the market is fragmented into hospitals & clinics, ambulatory surgical centers, and homecare. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Product Type Segment review

On the basis of product type, the silver wound dressings market is segmented into sheets, gels & creams, foams, and others. In 2021, the creams & gels segment accounted for the largest Silver Wound Dressings Market Share. The dominance of the segment is attributed to rising in the number of burns and ulcer cases across the world.

The sheets segment is anticipated to grow significantly during the forecast period. Owing to rise in the prevalence of chronic and acute wounds and the increase in the number of burn cases propels the growth of the market. For instance, according to the report published by Joye Law Firm, in 2021 it has been estimated that, on average, there are 450,000 burn injuries throughout the U.S. each year that require medical treatment.

Treatment Segment Review

On the basis of treatment, the Silver Wound Dressings Market is classified into ulcers, skin grafts, lacerations & cuts, surgical wounds, burns, and others. In 2021, the surgical wound segment exhibited the highest growth and is anticipated to lead the market during the forecast period, owing to a surge in the number of surgical procedures across the world.

The ulcers segment are expected to witness considerable market growth during the forecast period, owing to, a rise in the prevalence of chronic disease such as diabetes causes diabetic foot ulcer and an increase in the cases of venous ulcer (leg ulcer) and pressure ulcer, increase the demand for silver-based wound dressings products across the world which propels the growth of the market. For instance, according to the report published by Health Innovation Program in June 2020, it has been reported that approximately 2 million Americans develop a diabetic foot ulcer each year.

End User Segment Review

By end user, the Silver Wound Dressings Market is segmented into hospitals and clinics, Ambulatory surgical centers, and home care. In 2021, the hospital & clinics segment exhibited the highest growth and is anticipated to lead the market during the forecast period, owing to an increase in the number of patients visiting the facilities for the treatment of acute and chronic wounds across the world the key factors that drive the growth of Silver Wound Dressings Market Size in upcoming years.

The ambulatory surgical center's segment is expected to witness considerable market growth during the forecast period, owing to an increase in the prevalence of chronic disease which requires surgical procedures such as pancreatic cancer, bile duct, and pancreatic duct diseases. These factors are expected to foster the growth of the silver wound dressing market during the forecast period.

Region Segment Review

Region-wise, the Silver Wound Dressings Market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Owing to the high adoption rate of technologically advanced products, increase in healthcare expenditure, and presence of major key players involved in the R&D activities.

Asia-Pacific is expected to register the fastest CAGR during the forecast period in the Silver Wound Dressings Market. The market growth in the Asia-Pacific region is supplemented by the rising population in the countries like India and China, the high prevalence rate of road accidents, and chronic disease. In addition, the increasing patient awareness about the beneficial properties of silver-incorporated dressings such as their antimicrobial nature, reduction in healing time, and low infection risk are expected to further drive the market growth.

The key players that operate in the Wound Dressings Industry are 3M (Acelity Inc.) Medline Industries, LP, Argentum Medical LLC, B. Braun Melsungen AG, Convatec Inc, Dermarite Industries, Inc, Ferris Mfg. Corp., Ltd., Johnson and Johnson, Molnlycke Health Care AB, and Smith and Nephew PLC.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the silver wound dressings market analysis from 2021 to 2031 to identify the prevailing silver wound dressings market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the silver wound dressings market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes an analysis of the regional as well as global silver wound dressings market trends, key players, market segments, application areas, and market growth strategies.

 Silver Wound Dressings Market Report Highlights