Market Size of Global Silver Wound Dressing Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 4.60 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 |
By Disease | |
Burns | |
Ulcers | |
Cuts and Lacerations | |
Other Wound Types |
By End-User | |
Inpatient Facilities | |
Outpatient Facilities |
Geography | ||||||||
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Global Silver Wound Dressing Market Size Summary
The silver wound dressing market is experiencing growth driven by the increasing prevalence of chronic wounds and a rising geriatric population susceptible to conditions like diabetes. This demand is further fueled by heightened awareness of advanced wound care treatments and their adoption in both developed and developing regions. The market faced challenges during the COVID-19 pandemic due to reduced hospital visits and the temporary closure of wound care centers, but the resumption of normal healthcare operations is expected to bolster future growth. The incidence of acute, traumatic, and burn wounds is on the rise globally, with significant numbers in developed countries, contributing to the demand for silver wound dressings. Innovations such as silver nanoparticle hydrogel-coated dressings are enhancing treatment efficacy, particularly for burn injuries, which are prevalent in both adults and children.
North America is anticipated to hold the largest share of the global silver wound dressing market, supported by a robust healthcare infrastructure and the presence of key industry players. The United States, in particular, is witnessing a surge in demand due to the high incidence of diabetic foot ulcers and work-related injuries requiring wound management. The market is moderately fragmented, with numerous players focusing on strategic growth initiatives like mergers, acquisitions, and new product launches to enhance their market presence. Companies such as ConvaTec, B.Braun Melsungen AG, and 3M are actively participating in this competitive landscape, contributing to the market's expansion during the forecast period.
Global Silver Wound Dressing Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing Incidence of Chronic Wounds and Diseases Associated With It
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1.2.2 Rising Awareness and Adoption to the Advanced Wound Care Products
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1.3 Market Restraints
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1.3.1 Growing Use of Antimicrobial and Tissue Engineered Dressings
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1.3.2 High Cost Associated With Wound Care Procedures
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Hydrofiber Silver Dressings
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2.1.2 Nanocrystalline Silver Dressing
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2.1.3 Silver Plated Nylon Fiber Dressing
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2.1.4 Silver Nitrate Dressing
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2.1.5 Silver Alginate Dressing
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2.1.6 Other Product Types
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2.2 By Disease
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2.2.1 Burns
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2.2.2 Ulcers
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2.2.3 Cuts and Lacerations
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2.2.4 Other Wound Types
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2.3 By End-User
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2.3.1 Inpatient Facilities
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2.3.2 Outpatient Facilities
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Global Silver Wound Dressing Market Size FAQs
What is the current Global Silver Wound Dressing Market size?
The Global Silver Wound Dressing Market is projected to register a CAGR of 4.60% during the forecast period (2024-2029)
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.