Hydrogel Dressing Market Valued at US$ 1,406.2 Million with Impressive CAGR 4.4%, Propelled by Rising Demand and Technological Advancements

According to Prophecy Market Insights "Hydrogel Dressing Market size accounted for US$ 887.6 Million in 2022 and is estimated to be US$ 1,406.2 Million by 2032 and is anticipated to register a CAGR of 4.4%."

COVINA, Calif., May 23, 2023 /PRNewswire/ -- Hydrogel Dressing Market Overview:

Hydrogel Dressings are used in treating burns and ulcers, remove scabs, facilitate autolysis and also used in cleansing wound. Hydrogel dressing pad, CoolMgic, AquaSite, AquaDerm, Elasto-Gel, Avogel are some examples of Hydrogel Dressing which are made from natural or synthetic polymers.

Growing prevalence of venous stasis ulcers, pressure ulcers, diabetic ulcers, athlete's foot has contributed in target market growth. Rising incidence of sport injuries, accidents and trauma cases is further, expected to facilitate the demand for Hydrogel Dressing Market in coming years.

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Report Highlights:

Report Coverage

Details

Forecast Period

2022-2032

Forecast Period 2022 to 2032 CAGR

4.4 %

2022 Value Projection

USD 887.6 MILLION

Base Year

2022

Market Size in 2032

USD 1,406.2 MILLION

No. of Pages

172

Segments covered

Product Type, Distribution Channel, Region

Growth Drivers

Increasing prevalence of chronic wounds and burns

Growing demand for advanced wound care products

What are the Recent News in Hydrogel Dressing Market?

In December 2022, NEXGEL launched new hydrogel dressing "Turfguard" to protect sports-related injuries and to treat painful turf burns. NEXGEL's new launched "Turfguard" is cleared and approved by FDA (Food and Drug Administration) and used on abrasions, superficial burns and kills 99% of Staphylococcus aureus.

Driving Factors:

Here are the driving factors for the hydrogel dressing market with points:

Increasing prevalence of chronic wounds, burns, and injuries

Growing demand for advanced wound care products

Effectiveness of hydrogel dressings in promoting wound healing and reducing the risk of infection

Ease of application and removal of hydrogel dressings, making them a preferred choice for patients and healthcare professionals

Rising geriatric population and increasing incidence of diabetes and obesity, leading to chronic wounds that require advanced wound care management

Increasing healthcare expenditure

Growing focus on patient safety

Market Competitive Landscape:

MölnlyckeHealth Care AB

Coloplast Corporation

Smith & Nephew Plc.

3M Company

BSN Medical GmbH

Integra Lifesciences Corporation

ConvaTec, Inc.

Organogenesis, Inc.

Acelity L.P

Analyst View:

New product launch has become major contribution in market growth. Innovation in manufacturing process and strategic partnerships of major key players is expected to fuel the demand for Hydrogel Dressing market growth over the forecast period.

Regional Insights:

Here are the regional insights for the hydrogel dressing market with points:

North America and Europe are currently leading the hydrogel dressing market due to high prevalence of chronic diseases and well-established healthcare systems

Asia Pacific region is expected to witness significant growth in the hydrogel dressing market due to rising geriatric population, increasing prevalence of chronic diseases, and improving healthcare infrastructure

Increasing focus on medical tourism and growing demand for advanced wound care products in emerging economies are expected to contribute to the growth of the hydrogel dressing market in the Asia Pacific region

Middle East and Africa have a relatively small market share, but are expected to show significant growth due to increasing healthcare spending and growing awareness about advanced wound care products

Latin America has a moderate market share and is expected to show steady growth due to increasing healthcare expenditure and rising demand for advanced wound care products.

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Market Drivers and Restrains:

Market Drivers:

Increasing prevalence of chronic wounds, burns, and injuries

Growing demand for advanced wound care products

Effectiveness of hydrogel dressings in promoting wound healing and reducing the risk of infection

Ease of application and removal of hydrogel dressings, making them a preferred choice for patients and healthcare professionals

Rising geriatric population and increasing incidence of diabetes and obesity, leading to chronic wounds that require advanced wound care management

Increasing healthcare expenditure

Growing focus on patient safety

Market Restraints:

High cost of hydrogel dressings compared to traditional wound dressings

Lack of reimbursement policies for advanced wound care products in some countries

Limited awareness about the benefits of hydrogel dressings among patients and healthcare professionals

Availability of alternative wound care products such as foam dressings and alginate dressings

Challenges in maintaining the shelf life and sterility of hydrogel dressings.

About Prophecy Market Insights:

Prophecy Market Insights is a leading provider of market research services, offering insightful and actionable reports to clients across various industries. With a team of experienced analysts and researchers, Prophecy Market Insights provides accurate and reliable market intelligence, helping businesses make informed decisions and stay ahead of the competition. The company's research reports cover a wide range of topics, including industry trends, market size, growth opportunities, competitive landscape, and more. Prophecy Market Insights is committed to delivering high-quality research services that help clients achieve their strategic goals and objectives.

Other Related Reports:

Advanced Wound Care Market accounted for US$ 10.5 billion in 2020 and is estimated to be US$ 24.5 billion by 2030 and is anticipated to register a CAGR of 8.9%.

Diabetic foot ulcers treatment market accounted for US$ 3.6 billion in 2020 and is estimated to be US$ 7.4 billion by 2030 and is anticipated to register a CAGR of 7.50%.

Advanced Wound Care Market accounted for US$ 10.5 billion in 2020 and is estimated to be US$ 24.5 billion by 2030 and is anticipated to register a CAGR of 8.9%.

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