Silver Wound Dressing Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.13 Billion |
| Market Size (2029) | USD 1.51 Billion |
| CAGR (2024 - 2029) | 5.95 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Silver Wound Dressing Market Analysis
The Silver Wound Dressing Market size is estimated at USD 1.13 billion in 2024, and is expected to reach USD 1.51 billion by 2029, growing at a CAGR of 5.95% during the forecast period (2024-2029).
The silver wound dressing market 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 and developed countries.
According to the data updated by the World Health Organization in October 2023, annually, in India, more than 1 million individuals suffer from moderate to severe burns. Approximately 173 thousand children in Bangladesh experience moderate to severe burns each year. Further, in Bangladesh, Colombia, Egypt, and Pakistan, 17% of children with burns face temporary disabilities, while 18% grapple with permanent ones. Within rural Nepal, burns rank as the second most prevalent injury, contributing to 5% of all disabilities.
Hence, owing to the high occurrence of burn cases, the demand for silver wound dressing is likely to rise, leading to the market's growth during the forecast period.
In addition, 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's growth in the coming years. In addition, rising cases of pressure ulcers across the world are also expected to spur the market's growth.
For instance, according to the International Federation of Diabetes (IDF) update on diabetes in Saudi Arabia published in February 2022, around 4.2 million adults in Saudi Arabia were affected by diabetes. This accounted for a prevalence rate of over 17.7% of the total population. As per the same source, the risk of developing foot ulcers is as high as 25% in a person with diabetes.
Furthermore, a rise in research and development in silver wound dressing is anticipated to drive during the forecast period. For instance, as per the article published in April 2024 in the Advances in Skin & Wound Care journal, researchers showed that silver oxynitrate dressings can enhance the healing process for patients with chronic wounds, alleviate wound-related pain, and boost mental well-being.
Thus, due to the rise in the prevalence of chronic wounds and the increase in research and development of silver wound dressing, the studied market is anticipated to witness growth during the forecast period. However, the high cost of wound care procedures is expected to restrain the market's growth during the forecast period.
Silver Wound Dressing Market Trends
The Burns Segment is Anticipated to Witness Significant Growth During the Forecast Period
Burns is one of the most common household injuries, especially among children. Burns are characterized by severe skin damage that causes the skin cells to die. According to a research study published in March 2022 in PubMed, about 1 million cases of moderate to severe burn injuries requiring high-quality medical care are recorded annually in India.
Forest fires, war, and other accidents may also increase the global burden of burn injuries. Hence, the high burden of burn injuries is expected to drive the demand for burn care products and, thus, fuel the market's growth during the forecast period.
The rise in burn cases and injuries significantly boosts the market's growth. For instance, an article published in National Burn Awareness Week in 2022 stated that sub-Saharan countries were burdened with burn injuries among children. An estimated 300 thousand and 17.5 million children under five years old sustain burn injuries annually. Thus, this increasing number of burn injuries is expected to boost the market.
Furthermore, in June 2022, the British Columbia Children's Hospital, Canada, received about USD 1 million from the BC Professional Fire Fighters Burn Fund to support specialized care for kids with burn injuries. Thus, owing to increased investment in burn treatment, people are expected to adopt advanced wound care options such as silver wound dressing for quick recovery, which significantly fuels the market's growth during the forecast period.
Thus, due to the rise in the prevalence of burns and the increase in funding for burn care facilities, the studied segment is anticipated to witness growth in the market during the forecast period.
North America is Anticipated to Witness Growth in the Market During the Forecast Period
North America is expected to witness significant growth in the silver wound dressing market owing to factors such as a well-established healthcare system and key companies offering advanced products.
The increasing prevalence of diabetes and increased healthcare management spending are anticipated to increase the market's growth. For instance, as per the Mission Regional Medical Center 2022 update, it is estimated that 6.7 million people currently live with chronic wounds. This number is expected to grow by over 2% for the next decade. Chronic wounds cost the healthcare system more than USD 50 billion each year.
In the United States, more than 29 million people (9.5% of the population) have diabetes, and nearly two million of those people are likely to develop a diabetic foot ulcer or another non-healing wound each year. The diabetic population is high in the United States, which ultimately results in a higher number of diabetic foot ulcers. The rising number of diabetic cases in the nation is expected to increase the number of diabetic ulcer cases and contribute to the market's growth in North America.
Moreover, as per Mission Regional Medical Center's 2022 update, it is estimated that 6.7 million people live with chronic wounds, which is expected to grow by more than 2% for the next decade. Chronic wounds cost the healthcare system more than USD 50 billion each year. In the United States, more than 29 million people (9.5% of the population) have diabetes, and nearly 2 million are likely to develop a diabetic foot ulcer or another non-healing wound each year.
Furthermore, various wound care associations in Canada collaborate to provide world-class treatment for pressure ulcers, specifically hospital-acquired pressure ulcers. Hence, Accreditation Canada included pressure ulcers in Required Organizational Practices (ROP) in its 2020 handbook. This suggests a growing concern about pressure ulcers across Canada, and wound-related associations are working to address it, which is expected to fuel the market's growth.
Thus, due to the rise in the prevalence of burns and the increase in funding for wound care facilities, North America is anticipated to witness growth in the market during the forecast period.
Silver Wound Dressing Industry Overview
The silver wound dressing market is 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 focus on various growth strategies to enhance their market presence through mergers, acquisitions, partnerships, collaborations, new product launches, etc. The key market players in advanced wound care management are Convatec Inc., Integra LifeSciences, B.Braun SE, 3M, and Coloplast AS.
Silver Wound Dressing Market Leaders
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ConvaTec Inc.
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Coloplast AS
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Integra Lifesciences Corporation
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3M
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B Braun SE
*Disclaimer: Major Players sorted in no particular order
Silver Wound Dressing Market News
- June 2023: Coloplast AS sponsored a randomized clinical trial to evaluate the clinical benefit of silver dressing, Biatain Ag, relative to Cutimed Siltec Sorbact for treating venous leg ulcers.
- May 2023: Advanced Medical Solutions Ltd initiated a clinical trial to confirm the safety and performance of Silver I Alginate Non-Woven Dressing (Hydro-Alginate) in chronic and acute wounds.
Silver Wound Dressing Market Report - Table of Contents
1. INTRODUCTION
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 High Cost Associated with Wound Care Procedures
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value – USD)
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
5.2.1 Burns
5.2.2 Ulcers
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 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 ConvaTec Inc.
6.1.2 B.Braun SE
6.1.3 3M
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 Industry Segmentation
As per the report's scope, 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. It is especially found to be most effective in wounds with bioburden or local infection and its risk.
The silver wound dressing market is segmented by product type, disease, end user, and geography. By product type, the market is segmented into hydrofiber silver dressings, nanocrystalline silver dressing, silver plated nylon fiber dressing, silver nitrate dressing, silver alginate dressing, and other product types. By disease, the market is segmented into burns, ulcers, cuts and lacerations, and other wound types. By end user, the market is segmented into inpatient and outpatient facilities. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report offers the value (USD) 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 |
| By Disease | |
| Burns | |
| Ulcers | |
| Cuts and Lacerations | |
| Other Wound Types |
| By End User | |
| Inpatient Facilities | |
| Outpatient Facilities |
| Geography | ||||||||
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Silver Wound Dressing Market Research Faqs
How big is the Silver Wound Dressing Market?
The Silver Wound Dressing Market size is expected to reach USD 1.13 billion in 2024 and grow at a CAGR of 5.95% to reach USD 1.51 billion by 2029.
What is the current Silver Wound Dressing Market size?
In 2024, the Silver Wound Dressing Market size is expected to reach USD 1.13 billion.
Who are the key players in Silver Wound Dressing Market?
ConvaTec Inc., Coloplast AS, Integra Lifesciences Corporation, 3M and B Braun SE are the major companies operating in the Silver Wound Dressing Market.
Which is the fastest growing region in Silver Wound Dressing Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Silver Wound Dressing Market?
In 2024, the North America accounts for the largest market share in Silver Wound Dressing Market.
What years does this Silver Wound Dressing Market cover, and what was the market size in 2023?
In 2023, the Silver Wound Dressing Market size was estimated at USD 1.06 billion. The report covers the Silver Wound Dressing Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Silver Wound Dressing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Silver Wound Dressing Industry Report
Statistics for the 2024 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 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Silver Wound Dressing Market Report Snapshots
