Alginate Dressings Market is Witnessed to Hit The Value Of USD 1.24 Billion By 2030

Posted on 1 August, 2023 by Rakesh Jadhav

According to Custom Market Insights (CMI), The Global Alginate Dressing Market size was estimated at USD 884.15 million in 2021 and is expected to hit around USD 1.24 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 4.48% from 2022 to 2030.

Alginate dressing is derived from carbohydrate sources and released by clinical bacterial species. It is a natural wound dressing process and can able to absorb the wound fluid and form gel-like fluids, which helps the wound to protect from bacterial infection, thus, promoting rapid granulation, tissue formation, and re-epithelialization. 

There are some different examples of alginate dressing that include Comfeel Alginate Dressing (Coloplast), Algosteril (Johnson &Johnson), CarrasorbH(Carrington Laboratories), Kaltostat (ConvaTec), and others.

 Browse the full “Alginate Dressings Market Size, Trends and Insights By Grade (Industrial Grade, Pharmaceutical Grade), By End-use Industry (Personal Care and Cosmetics, Healthcare, Agriculture, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/alginate-dressings-market/

Market Dynamics.

Drivers.

The Growing Use of alginate dressing in the medical and pharmaceutical sectors will aid market growth. The market growth will drive the substantial rise of acute and chronic wounds due to accidents, diabetes ulcers, and allergic reactions and, among others, has increased the potential sales of an alginate dressing in the market. 

Restraints.

However, the gel form of alginate dressing possesses foul-smelling and non-adherent property needs secondary dressing, which the market will hamper. Furthermore, alginate dressing is not a suitable treatment for chronic wounds that are bleeding heavily or for wounds that are dry or have minimal exudate. 

On the other hand, manufacturers are switching to alternative substitutes for alginate dressings due to high production costs and rising raw materials prices.

Opportunities.

The factors such as an increase in the number of burn injury cases across the globe lead to the growth of alginate dressing. For instance, according to data published by World Health Organization in March 2018, In India, over 1 000 000 people are moderately or severely burnt every year, and the study shows a substantial growth of bacterial infection after burn injury. These factors together are projected to create remunerative opportunities for the expansion of the alginate dressing market in the future. 

Challenges.

Over the forecast period, the non-availability of good production amenities in many regions, along with a lack of product supply, is anticipated to challenge market growth in the years ahead. 

In addition, the availability of alternative substitutes for alginate dressings may be a challenging factor in the alginate dressings market.

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Report Highlights.

Based on type, the segment includes antibacterial and non-antibacterial.

The antibacterial alginate dressing segment dominated the market in 2021 and is expected to grow over the forecast period. There are several key manufacturing companies actively engaged in the manufacturing of antibacterial alginate dressing products. For instance, HMP Global, Inc. has intruded DermaGinate/Ag and Calcium Alginate Dressing in Antibacterial Silver. It helps in absorbing moderate to heavy exudate, forms soothing gel-like consistency, and supports moist wound healing and autolytic debridement. This is anticipated to increase the demand for the antibacterial-based alginate dressing market.

Based on the Application, the segment includes chronic wounds and acute wounds. It is expected that the global acute wound segment to hold a dominant position during 2022 -2031. 

The alginate dressing is extensively used on acute wound infection sites. The rising number of surgical site acute infections has boosted the overall growth of the alginate dressings market. For instance, according to an article published by the National Library of Medicine in February 2019, the Medicare cost for acute and chronic wound treatments ranged from $28.1 billion to $96.8 billion.

The highest expenses were for surgical wounds, followed by diabetic foot ulcers, with a higher trend toward costs associated with outpatient wound care than inpatient. Thus, the demand for alginate dressing will grow for acute wound site application during the forecast period.

Based on end use, the segment includes home healthcare, hospitals, and others. It is expected that the global hospital end-use segment to hold a dominant position during 2022 -2031.  

The hospital segment is expected to create the most lucrative end-use industry for the alginate dressing market. The factors such as the growing population across the globe, rise in several diseases, and government initiation & investment in the healthcare industry are significantly booming the overall growth of the alginate dressing where it is used as an antibacterial, antifungal, and disinfectant agent for treating acute and chronic wound infections.

Regional Snapshots. 

Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. 

North America is the dominant region in the alginate dressing market. This region is also anticipated to maintain its dominance throughout the forecast period. This is attributed to the rising population, the increase in chronic and acute wounds during post-operative procedures, and the increased number of diabetic patients have augmented the overall demand for alginate dressing.

Key Players

• 3M
• Cardinal Health
• Molnlycke Health Care AB
• Medline Industries, Inc
• Smith & Nephew Plc
• ConvaTec Group Plc
• Coloplast A/S
• BSN medical GmbH
• Paul Hartmann AG
• B. Braun
• Melsungen AG
• Mölnlycke Health Care
• Hollister Incorporated

Table of Contents: https://www.custommarketinsights.com/report/alginate-dressings-market/#table-of-contents

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