Silver Wound Dressing Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
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Silver Wound Dressing Market Analysis
Silver Wound Dressing Market is poised to grow at a CAGR of 4.6% over the forecast period (2022-2027). The market for silver wound dressing is majorly driven by factors such as the growing incidence of chronic wounds, the increasing geriatric population who is prone to diseases such as Diabetes, raising awareness among the general population regarding advanced wound care treatment, and the adoption of the same in developing as well as developed countries.
The COVID-19 pandemic had a negative impact on the market studied. During the lockdown, the market for silver wound dressing was negatively impacted, primarily due to reduced clinical or hospital visits. 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. Thus, the market growth was hindered during this period. However, as countries started using vaccination programs to control COVID-19, the normal working of clinics and hospitals was seen which is contributing to the future growth of the market studied. Tissue Analytics, a wound-specific electronic health record software company, published a study that found a 40% decrease in wound center visits in their dataset from weeks 12, 13, and 14 in 2020, compared to 2019. However, as wound care patients required proper management to avoid severe pain and maintain quality of life, the hospitals have been focusing on providing on-time treatment, which is expected to drive the market studied in the future.
According to the data given by World Health Organization 2021, every year more than 305 million acute, traumatic and burn wounds are recorded and treated across the globe and it is indicated that this number is on the rise. Added to that, it is also suggested that up to two percent of the population across developed countries is suffering from chronic wounds every year. Diabetes, Obesity, and the late effects of radiation therapy are some of the factors that also contribute to the rising incidence of chronic wounds. Hence, all these factors are associated with the increasing demand for silver wound dressing which is believed to propel the market growth in coming years.
According to a study by the Wound Care Learning Network 2021, titled, “Decreasing Pain and Increasing the Rate of Chronic Wound Closure With the Use of a Noninvasive Bioelectronic Medical Device: A Case Series”, the incidence of chronic wounds is on rising in the United States and around 8.2 million patients are treated at least one type of wound or wound-related infection with more than 12 million people suffering from any type of chronic wound. This increase in the incidence of wounds is expected to grow the silver wound dressing market during the forecast period.
Silver Wound Dressing Industry Segmentation
As per the scope of the report, silver wound dressings are topical wound care products derived from ionic silver. It provides a moist wound environment that promotes wound recovery. The topical antimicrobial silver dressing is apt for the treatment of infected wounds and is especially found to be most effective in wounds with bioburden or local infection and risk of it. The global silver wound dressing market is segmented by Product Type (Hydrofiber Silver Dressings, Nanocrystalline Silver Dressing, Silver Plated Nylon Fiber Dressing, Silver Nitrate Dressing, Silver Alginate Dressing, and Other Product Types), Disease (Burns, Ulcers, Cuts, and Lacerations, Other Wound Types), End-User (Inpatient Facilities, Outpatient Facilities), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
|By Product Type|
|Hydrofiber Silver Dressings|
|Nanocrystalline Silver Dressing|
|Silver Plated Nylon Fiber Dressing|
|Silver Nitrate Dressing|
|Silver Alginate Dressing|
|Other Product Types|
|Cuts and Lacerations|
|Other Wound Types|
Silver Wound Dressing Market Trends
This section covers the major market trends shaping the Silver Wound Dressing Market according to our research experts:
Burns are Expected to Witness a High CAGR Over the Forecast Period
Burns are one of the most common household injuries, especially among children. Burns are characterized by severe skin damage that causes the skin cells to die. As stated by the American Burn Association (2020), over 450,000 serious burn injuries occur every year in the United States. Furthermore, as per American Burn Association, between the years 2009-2019, the proportion of burn center admissions due to scald burns has continued to increase each year (i.e., 29.8% to 34.7%). Scald burns (from hot water, other liquids, and steam) comprise 35% of overall burn injuries admitted to the United States burn centers. However, 61% of these occur in children less than five years old, as per the data from the same source.
As per the data from the World Health Organization 2021, non-fatal burn injuries are a leading cause of morbidity. Similarly, as per the data of Children’s Wisconsin, 2020, the most common type of injury among children aged five and less are flame and scald. Around 4,500 adults and children die yearly from burn injuries in the United States.
Similarly, around 7 million people in India suffer from burn injuries, as stated by the National Health Portal of India (2020). Owing to the high number of burn injuries across various countries, there is a rising demand for medical tapes and bandages required in burn injury treatment. Researchers from the University of South Australia developed new technology in 2021 in which advanced silver nanoparticle hydrogel-coated dressing is used for burn wounds. This dressing delivers an ‘on demand’ release of ultra-small silver nanoparticles that can safely break down antibiotic-resistant bacteria and promote wound repair.
Hence, looking at the overall statistics of burn injuries across various countries and the developments being carried out to make burn injury treatment more effective, the segment is expected to witness high growth.
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North America to Hold the Largest Market Share
The North American region is expected to witness the highest share in the global silver wound dressing market. This is majorly due to the well-established healthcare system and the presence of key companies that offer advanced products. In North America, the United States is believed to dominate the market studied.
The North American region is expected to witness the highest share in the global silver wound dressing market. This is majorly due to the well-established healthcare system and the presence of key companies that offer advanced products. e of DFU (Diabetic Foot Ulcers) in the United States was 15-25% as of the year 2021. This is augmenting the demand for wound care management in this country; ultimately, the market is growing. Diabetic foot ulcers impose a substantial burden on public and private payers in the United States, doubling care costs per patient compared with diabetic patients without foot ulcers.
As per the US Bureau of Labor Statistics, 4,764 fatal work injuries were recorded in the United States in 2020, requiring hospitalization and wound management. Such injuries are propelling the demand for medical tapes and bandages across United States hospital facilities, resulting in market growth. The country has a presence of well-established companies, such as Johnson & Johnson, 3M, and Cardinal Health Inc., with an extensive range of product portfolios, including medical tapes and bandages.
Therefore, with the factors above, the market is expected to accelerate during the forecast period.
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Silver Wound Dressing Industry Overview
The silver wound dressing market is moderately fragmented with the presence of a large number of players. As technology progresses and becomes more viable, the quality of life of patients afflicted with chronic wounds improves. Traditional wound care and closure products are being increasingly substituted with advanced wound care management and closure products due to their efficacy and effectiveness in managing wounds by enabling faster healing. Market players are focusing on various growth strategies in order to enhance their market presence through mergers, acquisitions, partnerships, collaborations, new product launches, etc.
Silver Wound Dressing Market Leaders
B.Braun Melsungen AG
Integra Lifesciences Corporation
*Disclaimer: Major Players sorted in no particular order
Silver Wound Dressing Market News
- In January 2022, ConvaTec entered into the wound biologics market with a USD 450M bid for the Triad Life Sciences acquisition.
- In January 2021, Healogics launched a program to make 2021 The Year of Healing for Chronic Wounds, a condition affecting 6.7 million Americans and a leading cause of amputation
Silver Wound Dressing Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Incidence of Chronic Wounds and Diseases Associated With It
4.2.2 Rising Awareness and Adoption to the Advanced Wound Care Products
4.3 Market Restraints
4.3.1 Growing Use of Antimicrobial and Tissue Engineered Dressings
4.3.2 High Cost Associated With Wound Care Procedures
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Hydrofiber Silver Dressings
5.1.2 Nanocrystalline Silver Dressing
5.1.3 Silver Plated Nylon Fiber Dressing
5.1.4 Silver Nitrate Dressing
5.1.5 Silver Alginate Dressing
5.1.6 Other Product Types
5.2 By Disease
5.2.3 Cuts and Lacerations
5.2.4 Other Wound Types
5.3 By End-User
5.3.1 Inpatient Facilities
5.3.2 Outpatient Facilities
5.4.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.4.4 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East and Africa
5.4.5 South America
126.96.36.199 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 ConvaTec Inc.
6.1.2 B.Braun Melsungen AG
6.1.3 3M Company
6.1.4 Argentum Medical
6.1.5 Smith & Nephew Plc
6.1.6 Medline Industries
6.1.7 Integra Lifesciences Corporation
6.1.8 Hollister Incorporated
6.1.9 Coloplast AS
6.1.10 Mölnlycke Health Care AB
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Silver Wound Dressing Market Research FAQs
What is the current Global Silver Wound Dressing Market size?
The Global Silver Wound Dressing Market is projected to register a CAGR of 4.6% during the forecast period (2023-2028).
Who are the key players in Global Silver Wound Dressing Market?
ConvaTec Inc., B.Braun Melsungen AG, 3M Company, Coloplast AS and Integra Lifesciences Corporation are the major companies operating in the Global Silver Wound Dressing Market.
Which is the fastest growing region in Global Silver Wound Dressing Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Global Silver Wound Dressing Market?
In 2023, the North America accounts for the largest market share in the Global Silver Wound Dressing Market.
Global Silver Wound Dressing Industry Report
Statistics for the 2023 Global Silver Wound Dressing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Global Silver Wound Dressing analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.