Global Silver Wound Dressing Market Size

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.