SAN FRANCISCO , May 31, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Foam Dressings - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 8; Released: April 2022 Executive Pool: 1193 Companies: 103 - Players covered include 3M Company; Acelity ; BSN medical GmbH; Cardinal Health; Coloplast A/S; ConvaTec Inc.; DeRoyal; Johnson & Johnson; Medline, Cardinal Health ; Medtronic Plc; Smith & Nephew plc; Winner Medical Group, Inc. and Others. Coverage: All major geographies and key segments Segments: Foam Pore Size (Small, Medium, Large); Wound Type (Surgical Wounds, Ulcers, Traumatic Wounds, Burns, Other Wound Types); End-Use (Hospitals, Specialty Clinics, Other End-Uses) Geographies: World; United States ; Canada ; Japan ; China ; Europe (France ; Germany ; Italy ; United Kingdom ; Spain ; Russia ; and Rest of Europe ); Asia-Pacific (Australia ; India ; South Korea ; and Rest of Asia-Pacific ); Latin America (Argentina ; Brazil ; Mexico ; and Rest of Latin America ); Middle East (Iran ; Israel ; Saudi Arabia ; United Arab Emirates ; and Rest of Middle East ); and Africa .
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Amid the COVID-19 crisis, the global market for Foam Dressings estimated at US$1.7 Billion in the year 2022, is projected to reach a revised size of US$2.1 Billion by 2026, growing at a CAGR of 4.6% over the analysis period. By size Small, one of the segments analyzed in the report, is projected to grow at a 5.2% CAGR, while growth in the Medium segment is readjusted to a revised 4.5% CAGR. The market is expected to continue growing to post notable revenue growth on account of rising demand for these dressings from post-operative, chronic and acute wound management applications. Foam dressings feature sterile polyurethane foam along with hydrocolloid adhesive for faster healing of wounds like pressure ulcers, open wounds, burns, diabetic ulcers and venous ulcers. The growth of foam dressings market is augmented by rising geriatric population that is susceptible to chronic medical conditions, increasing incident of chronic infections and diabetic wounds, and awareness regarding various benefits of advanced dressings.
The healthcare system bears the immense burden associated with chronic wounds that affect around 6.5 million people and cost more than $50 billion per year in the US. The problem is poised to be complicated by increasing cases of obesity & diabetes, rising geriatric population, emergence of drug-resistant bacteria and limited number of antibiotics. The growing prevalence of lifestyle associated disorders, especially diabetes is giving rise to diabetic foot ulcers, pressure ulcers, and venous leg ulcers. The prevalence rates of these conditions are on rise each year. Delayed wound care is known to increase the risk of hospital admissions, severe infections and amputations. These challenges point towards the pressing need for advanced wound care options along with effective strategies to deal with potential surge in patients with unmanaged and untreated chronic wounds and associated complications. Healthcare facilities are anticipated to witness a notable spike in inflow of patients with severe chronic wounds, requiring professionals to consider aggressive and advanced treatment approaches. The scenario indicated the need for proven wound care treatment approaches and delivery of care services in low-risk settings. Patients are likely to be encouraged to seek quality wound care treatments in hospital outpatient departments or physician offices to ensure uninterrupted access and lower risks. Clinicians are anticipated to focus more on advanced wound care treatment solutions to reduce the infection or amputation risk.
Foam dressings hold high efficacy and are capable of improving patient outcomes by promoting healing for different types of wounds, including diabetic foot ulcers. These products are poised to gain attention from payers and patients as they reduce the downstream cost for management and treatment of chronic diabetic wounds. Wound care is expected to benefit from ongoing efforts to improve the healthcare infrastructure. A large number of underserved and rural areas are characterized by high cases of lower extremity wounds due to poor access to care services. The foam dressings market is slated to be driven by increasing uptake of these products across hospitals. Factors such as insufficient flow of blood and nerve damage lead to various complications associated with diabetes, such as foot ulcers. The concern holds high relevance due to increasing incident of diabetes, with the diabetic population in the US exceeding the 34.2 million mark. Increasing cases of surgical wounds, diabetic foot ulcers, burns and venous leg ulcers are bolstering the uptake of advanced wound care products across hospitals and are poised to boost the demand for wound care biologics and therapy devices.
Global demand for foam dressings is also propelled by increasing number of burns cases and road accidents coupled with high incidence of pressure injuries among people across various age groups. Foam dressings are widely used in clinical settings for treatment of pressure ulcers. Increasing morbidity associated with lifestyle diseases like diabetes is expected to bolster global adoption of foam dressings to expedite wound healing. The foam dressings market is gaining from increasing need for affordable care and treatment options for patients with acute and chronic wounds. The increasing use of foam dressings is also attributed to a large number of ongoing training programs to make medical professionals aware of advanced wound treatment solutions and dressings. The market growth is also attributed to growing awareness of the availability and effectiveness of various such products among physicians as well as the patient population. Aggressive marketing campaigns by pharmaceutical companies as well as a proactive attitude among customers in monitoring their health in line with the desire for a better quality of life, is fostering this awareness. Market players are targeting physicians through various professional organizations, thought leaders, and accredited education groups, educating them about the importance of timely wound management as well as the availability of various sophisticated treatment alternatives. While increased awareness is yielding significant results in developed countries, it is yet to catch pace in developing regions mainly due to significantly lower levels of such marketing initiatives in these regions. This scenario is however likely to change in the coming years with wound management product companies increasingly vying to penetrate these untapped markets.
However, the expensive nature and inadequate reimbursement in various emerging countries remain key restraints for the market. Foam dressings are also facing issues due to lack of proper scientific evidence pertaining to their effectiveness in eschar wounds and third-degree burns. On the other hand, ongoing efforts by companies to introduce better foam dressings are anticipated to present new growth opportunities. In order to deal with negative impact of systemically administered analgesics, leading players have come up with advanced pain-relieving dressings that combine moisture-balancing foam dressings that release low-dose non-steroidal anti-inflammatory drugs like ibuprofen. Some of the players operating on the market have introduced dressings with sterile polyvinyl alcohol foams with small pore size. These developments are anticipated to bolster global demand for foam dressings. Future expansion of the foam dressings market is slated to be also favored by increasing number of surgical interventions, rising awareness and availability of innovative solutions.
North America claims the dominating share of the market on account of increasing incident of chronic wounds and a sizeable patient base. Chronic wounds in the US affect over 6.5 million people annually and entail a notable spending of US$25 billion on related treatments. The regional market is driven by the presence of leading players along with rising adoption of sophisticated products. Foam dressings are also benefitting from increasing approval of advanced kits by the FDA for combinational therapy. In addition, marketing approval for supportive products such as negative pressure wound therapy pumps is likely to further augment the market growth. On the other hand, the foam dressings market in Asia-Pacific is anticipated to experience a substantial growth over the coming years due to increasing incident of trauma and injuries across countries owing to factors such as road accidents and chronic medical conditions. The regional market is slated to gain further from the presence a massive pool of diabetic patients, which is bound to create the demand for foam dressings for treatment. More
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