How Will The Absorbent Dressings Market Globally Expand In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s absorbent dressings market report forecasts the absorbent dressings market size to grow to $11.44 Billion by 2027, with a CAGR (compound annual growth rate) of more than 9%.
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Absorbent Dressings Market Size Forecast
The global absorbent dressings market is expected to grow from $7.20 billion in 2022 to $7.94 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The absorbent dressings market size is expected to grow to $11.44 billion in 2027 at a CAGR of 9.6%.
North America held the largest absorbent dressings market share and was the fastest-growing region in 2022.
Key Absorbent Dressings Market Driver – Rise In The Chronic Wounds
For instance, in June 2020, according to the British Journal of Family Medicine, a UK-based practical website for doctors and healthcare professionals, there are approximately 2.2 million people with chronic wounds in the UK. Therefore, rising chronic wounds are driving the growth of the absorbent dressing market.
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Key Absorbent Dressings Market Trend – Product Innovation
Major companies operating in the absorbent dressing market are developing innovative products with improved healing capacity and efficacy to sustain their position in the market. For instance, in April 2022, Global Health Technology, a Norway-based MedTech company, launched Erland Care Protective Skin, the next-generation wound dressing. This protective skin has unique, highly absorbent, and skin-friendly material that enables breathing and enables good healing conditions for the wound. This dressing is waterproof and its silicon adhesive allows easy removal.
Absorbent Dressings Market Segment
1) By Product: Non-Adherent, Adherent, Low-Adherent
2) By Application: Hospital, Clinic, Home Care
3) By End-User: Inpatient Facilities, Outpatient Facilities
Absorbent Dressings Market Major Players and Strategies
Major players in the absorbent dressings market are 3M, MPM Medical Inc., Alliqua BioMedical Inc., DeRoyal Industries, Smith & Nephew PLC., Coloplast A/S, Convatec Group, Johnson & Johnson Pvt. Ltd., B. Braun, Mölnlycke Health Care, Advancis Medical, Hollister Co., Integra Lifesciences, DermaRite and Birchwood Laboratories Inc.
In February 2022, Argentum Medical, a US-based medical device acquired Anacapa Technologies for an undisclosed amount. Through this acquisition, Argentum strengthened its position in the wound care market by integrating with Anacapa Technologies’ Anasept and Silver-Sept antimicrobial wound cleansers, irrigation solutions, and gels. Anacapa Technologies Inc is a US-based company operating in skin and wound care products.
The Absorbent Dressings Global Market Report 2023 covers regional data on absorbent dressings market size, absorbent dressings market trends and drivers, opportunities, strategies, and absorbent dressings market competitor analysis. The countries covered in the absorbent dressings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
An absorbent dressing is made up of super absorbent polymer using materials like Iodine gel, fibrous fabric, alginate, sodium chloride, calcium, and other compounds to protect wounds from the external environment and absorbs the moisture of the wounds.
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