CMI
According to a new report published by Coherent Market Insights, the global alginate dressings market is estimated to reach USD 809.9 million in 2023, and is expected to exhibit a CAGR of 4.2% over the forecast period 2024-2031. Companies included: Cardinal Health, Smith & Nephew, 3M, Coloplast Corp., ConvaTec, Paul Hartmann, B. Braun Melsungen, Hollister Inc., Molnlycke Health Care AB, Medline Industries, Inc.
BURLINGAME, July 24, 2024 (GLOBE NEWSWIRE) — According to the latest report by Coherent Market Insights, the global alginate dressings market is expected to grow from USD 809.9 million in 2023 to USD 1,129.4 million by 2031, at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031. The increasing incidence of chronic wounds such as diabetic foot ulcers, pressure ulcers, and venous leg ulcers across the globe is a key factor complementing the growth of the alginate dressings market. In the United States alone, it is estimated that approximately 7 million people are diagnosed with chronic wounds every year. These wounds require frequent dressing changes to promote healing, increasing the demand for effective wound care dressings like alginate dressings.
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Market Trends:
The global alginate dressings market is expected to grow significantly due to the increasing incidence of chronic wounds such as diabetic foot ulcers, pressure ulcers, and venous leg ulcers. As reported by the National Health Service (NHS), approximately 40,000 cases of leg ulcers occur annually in England and Wales. Moreover, the increasing adoption of alginate dressings over traditional gauze and dry dressings due to their ability to absorb exudate and maintain a moist wound environment is further fueling the market growth.
Market trend:
Antimicrobial alginate dressings are seeing increased adoption in the market due to their effectiveness in preventing wound infections. For example, in January 2019, Acelity launched CaLEX ® antimicrobial alginate dressing for chronic and acute wounds. CaLEX dressings are impregnated with calcium alginate, a broad-spectrum antimicrobial agent that helps manage bioburden and maintain a moist wound environment.
Global Alginate Dressing Market Report Coverage
Report Scope
detail
Market Revenue in 2024
$809.9 million
Estimated value through 2031
$1,129.4 million
Growth rate
Expected to grow at an average annual rate of 4.2%
Historical Data
2019–2023
Forecast Period
2024-2031
Forecast Unit
Value (million/billion USD)
Report Scope
Revenue Forecast, Competitive Landscape, Growth Factors, Trends
Target Segments
By Type, By Application, By End User
Target area
North America, Europe, Asia Pacific, Rest of the World
Drivers of growth
• Increasing prevalence of chronic wounds
• Technological advances in wound care products
Constraints and challenges
• Availability of alternative treatment options
• Refund issues
In addition, a surge in product innovation is also a key trend in the market. Companies are focusing on developing 3D printed alginate dressings and bioprinted skin grafts to more effectively address skin loss and chronic wounds. For example, in September 2020, researchers at Newcastle University developed a bioprinted skin graft that uses alginate hydrogel infused with fibroblasts and keratinocytes to more closely mimic the structure and function of natural skin.
The story continues
The global alginate dressing market is divided into antibacterial and non-antibacterial types. The antibacterial segment is expected to maintain its dominant position during the forecast period. Alginate dressings with antibacterial properties are widely used in infected acute and chronic wounds to prevent infection and promote healing.
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Based on application, the market is bifurcated into acute wounds and chronic wounds. The acute wound segment is expected to dominate during the forecast period. Alginate dressings are highly absorbent and conform well to irregular wound shapes, making them ideal for acute wounds after trauma and surgery.
Based on end user, the market is segmented into hospitals, specialty clinics, home healthcare, and others. The hospital segment holds the largest share due to the high patient volume. Alginate dressings are widely used in hospitals for effective wound management.
Key Market Points:
The global alginate dressings market is expected to grow at a CAGR of 4.2% during the forecast period (2024-2031), owing to the increase in geriatric population and rising incidence of chronic diseases.
By type, the antibacterial segment is expected to hold the leading position owing to its ability to prevent wound infections, while by application, the acute wound segment will continue to be the leading segment owing to the high absorbency and compatibility of alginate dressings.
Based on region, North America is expected to maintain its dominant position throughout the forecast period owing to its well-developed healthcare infrastructure and high awareness regarding advanced wound care products.
Key players operating in the alginate dressings market include Cardinal Health, Smith & Nephew, 3M, Coloplast Corp., ConvaTech, Paul Hartmann, B. Braun Melsungen, Holloster Inc., Molnlycke Health Care AB, and Medline Industries, Inc. These companies are focusing on new product launches and geographical expansion to increase their market share.
Recent developments:
In October 2022, Healthium Medtech launched a new wound dressing portfolio, Theruptor Novo, aimed at managing chronic wounds such as diabetic foot ulcers and lower leg ulcers.
In February 2022, the silver alginate dressing manufactured by Winner Mecial was cleared for market entry by the US FDA, allowing the company to continue expanding its business in North America.
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Detailed segmentation:
By type:
Antibacterial
No antibacterial properties
By application:
Acute wounds
Chronic wounds
Diabetic foot ulcers
Pressure ulcers
Venous leg ulcers
others
By end user:
hospital
Specialized Clinic
Home medical care
others
By region:
North America:
latin america:
Brazil
Argentina
Mexico
Other Latin America
Europe:
Germany
England
Spain
France
Italy
Russia
Other Europe
Asia Pacific:
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
middle east:
GCC Countries
Israel
Other Middle East
Africa:
South Africa
North Africa
Central Africa
Check out other trend reports:
Traditional Wound Management Market: The global traditional wound management market is estimated to reach USD 2,080.8 million in 2023, and is anticipated to exhibit a CAGR of 3.4% during the forecast period (2023-2030).
Dental Wound Dressings Market by Dressing Type (Oxidized Regenerated Cellulose, Whitehead Varnish, Carnoy’s Fluid, Bismuth Iodoform Paraffin Paste, Zinc Oxide-Based Dressings, Albosil, Collagen)
Wound Healing Films Market: The global wound healing films market size is expected to reach USD 1,929.2 million by 2030 from USD 896.9 million in 2023, exhibiting a compound annual growth rate (CAGR) of 11.6% during the forecast period.
Advanced Wound Care Management Market in India: The advanced wound care management market in India is estimated to reach USD 263 million in 2023, and is expected to exhibit a CAGR of 5.1% during the forecast period (2023-2030).
About us:
Coherent Market Insights is a global market intelligence and consulting organization providing syndicated research reports, customized research reports, and consulting services. We are known for providing actionable insights and reliable reports across various sectors including Aerospace & Defense, Agriculture, Food & Beverages, Automotive, Chemicals & Materials, and an exhaustive list of almost all sectors and sub-domains. We create value for our clients through our reliable and accurate reports. We are also committed to playing a leading role in providing insights in various sectors post COVID-19 and continue to deliver measurable and sustainable results to our clients.
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