Surgical Dressing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Surgical Dressing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The surgical dressings market is poised to grow with a CAGR of 5.2% over the forecast period.

COVID-19 had an impact on surgical operations performed globally. There are precise guidelines for each specialty that must be introduced and followed by all surgeons to offer safe and effective care to their patients during the COVID-19 pandemic. Due to regulatory authorities' strict guidance to prevent any non-emergent surgeries, the volume of surgeries has drastically decreased throughout the pandemic. According to the study published in October 2021, titled "The impact of COVID-19 on emergency general surgery admissions and operative volumes: A single-center experience" globally, there has been a 42.8% decrease in general surgery admissions. As a result, COVID-19 has had a substantial impact on the general surgical dressing industry. Moreover, owing to the resumption of elective surgeries and a decline in COVID-19 cases, the market is likely to bolster to its pre-pandemic levels in the near future.

The market for surgical dressings is majorly driven by the rising number of surgeries across the globe, the growing prevalence of lifestyle diseases, and increasing organ transplants. For instance, as per the 2022 update from the International Diabetic Federation (IDF), approximately 537 million adults (20-79 years) are living with diabetes. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. Thus, the growing prevalence of diabetes is expected to boost the market as diabetes is a major risk factor for the diabetes foot which required surgical dressing for the treatment. Additionally, increasing in organ transplants is likely to support the market growth. As per the data published by the Health Resources and Services Administration in March 2022, about 40,000 organ transplants were performed in the United States in 2021. In addition, 26,670 kidney transplants and 9,236 live transplants were performed in 2021 in the United States.

Various initiatives taken by the key market players such as product launches, mergers, acquisitions, and partnerships are expected to boost the market growth over the forecast period. For instance, in October 2021, Healthium Medtech Limited introduced Trushield NXT surgical wound dressing, adding to their portfolio of patented solutions in the wound care and infection control industries.

Thus, all the above-mentioned factors are expected to boost market growth over the forecast period. However, stringent regulatory policies and lack of reimbursement, and high treatment costs may restrain the market growth over the forecast period.

Key Market TrendsFoam Dressing is Expected to Witness Healthy CAGR Over the Forecast Period

Foam dressing is an extremely absorbent dressing used for wound care. Foam dressings need less changing dressings when compared to other types of dressings. Foam dressing works for heavily exuding wounds, like weeping ulcers, deep cavity wounds, wounds caused after debridement, etc.

Foam dressings are usually prescribed for their biggest advantage: providing a moist and warm environment, which is ideal for healing. These dressings are majorly used for full or partial-thickness wounds, that have moderate or more drainage. Furthermore, these dressings serve as a cushion to protect the affected area and also act as a barrier against bacteria during compression therapy. The ability of these dressings to be used as primary dressings during accidents or other serious cases is expected to increase their adoption.

The growing research and development activity is further boosting the market growth over the forecast period. For instance, in March 2021, Smith+Nephew released the findings of a real-world study conducted in Spain that demonstrated how switching to ALLEVYN LIFE Foam Dressings reduced dressing change frequency and weekly dressing expenditures while enhancing treatment satisfaction for clinicians and patients in a community context. Additionally, in May 2022, Winner Medical showcased its latest and industry-leading advanced surgical wound care products such as Transparent Film Dressing, Bordered Silicone Foam Dressing with SAF and Antibiosis Series Products, and its new product, the CMC dressing.

Thus, all aforementioned factors are expected to boost the segment over the forecast period.

North America is Expected to Witness a High CAGR Over the Forecast Period

North America has dominated the global market, and this may be attributed to increasing lifestyle disorders, increasing awareness about organ transplantation, and a rise in the range and number of Ambulatory Surgical Centers (ASC). The other major factors that are also driving the market for surgical dressing in the United States are the rapidly growing aging population, a high diabetic population, and the developed healthcare system that adapts to novel innovations. For instance, as per International Diabetes Federation (IDF), in February 2022, the United States of America is one of the 23 countries in the IDF North America and Caribbean (NAC) region. 537 million people have diabetes in the world and more than 51 million people in the NAC Region, this count is expected to rise to 63 million by 2045. Additionally, according to the Center for Diseases Control and Prevention in July 2022, 20.1 million adults 20 and older were affected with coronary artery disease 2020. Every year, about 805,000 Americans have a heart attack. Thus, the growing prevalence of lifestyle diseases is expected to boost the growth of the market over the forecast period.

Moreover, the key player focused on strategic partnerships, mergers, and acquisitions to launching innovative and technologically advanced products to fuel the market demand. For instance, in December 2021, Essity bought Hydrofera. The company offers cutting-edge wound care technology and supplies. This acquisition contributes to Essity's acquisition strategy in Medical Solutions.

Hence, owing to the above-mentioned factors, the market studied is expected to be dominated by North America.

Competitive Landscape

The Surgical Dressings market studied is a moderately consolidated market owing to the presence of a few major market players. The market players are committed to developing innovative healing solutions for customers and patients across the care continuum, generating proven clinical outcomes. The companies are also showing continuous growth and are developing new and differentiated products and services, which address the evolving healthcare needs among patients, providers, and consumers. some of the players include Acelity LP Inc., 3M Company, Coloplast, Molnlycke Health Care AB, Cardinal Health Inc., and ConvaTec Group Plc, and among others.

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