Global Alginate Dressing Market worth $1,129.4 million by 2031, growing at a CAGR of 4.2%, says Coherent Market Insights
The Global Alginate Dressing Market is estimated to be valued at US$ 809.9 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights. Companies covered: Cardinal Health, Smith & Nephew, 3M, Coloplast Corp., ConvaTec, Paul Hartmann, B. Braun Melsungen, Hollister Inc., Molnlycke Health Care AB, and Medline Industries, Inc.
Burlingame, July 24, 2024 (GLOBE NEWSWIRE) -- The global Alginate Dressing Market is projected to grow from USD 809.9 million in 2023 to USD 1,129.4 million by 2031, with a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031, as per a recent report by Coherent Market Insights. Increasing incidence of chronic wounds such as diabetic foot ulcers, pressure ulcers and venous leg ulcers across the globe is a key driver supplementing the growth of the alginate dressing market. It is estimated that around 7 million people are diagnosed with chronic wounds each year in the United States alone. These wounds require frequent dressing changes to promote healing which is fueling the demand for effective wound care dressings like alginate dressings.
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Market Dynamics:
The global alginate dressing market is expected to witness significant growth owing to increasing incidence of chronic wounds such as diabetic foot ulcers, pressure ulcers, and venous leg ulcers. According to the National Health Service (NHS) report, around 40,000 leg ulcers occur each year in England and Wales. Moreover, increasing adoption of alginate dressings over traditional gauze and dry dressings due to its capability to absorb exudate and maintain a moist wound environment is further augmenting the market growth.
Market Trends:
The market is witnessing increased adoption of antimicrobial alginate dressings owing to their ability to prevent wound infection. For instance, in January 2019, Acelity launched CaLEX ® Antimicrobial Alginate Dressing for chronic and acute wounds. CaLEX dressing is impregnated with a broad-spectrum antimicrobial agent, calcium alginate, which helps manage bioburden and maintains a moist wound environment.
Global Alginate Dressing Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2024 | $809.9 million |
| Estimated Value by 2031 | $1,129.4 million |
| Growth Rate | Poised to grow at a CAGR of 4.2% |
| Historical Data | 2019–2023 |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, By Application, By End User |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Growth Drivers | • Rising prevalence of chronic wounds • Technological advancements in wound care products |
| Restraints & Challenges | • Availability of alternative treatment options • Reimbursement issues |
Moreover, surge in product innovation is also a key trend in the market. Companies are focusing on developing 3D printed alginate dressings and bioprinted skin grafts to address skin loss and chronic wounds more effectively. For example, in September 2020, researchers at Newcastle University developed a bioprinted skin graft using alginate hydrogel infused with fibroblasts and keratinocytes to more closely mimic natural skin structure and function.
The global alginate dressing market is segmented by type into antimicrobial and non-antimicrobial. The antimicrobial segment is expected to hold a dominant position over the forecast period. Alginate dressings with antimicrobial properties are widely used for infected acute and chronic wounds as they help prevent infection and promote healing.
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The market is segmented by application into acute wounds and chronic wounds. The acute wounds segment is anticipated to dominate during the forecast period. Alginate dressings are highly absorbent and conform well to irregular wound shapes, making them ideal for injuries and post-surgical acute wounds.
On the basis of end user, the market is divided into hospitals, specialty clinics, home healthcare, and others. The hospitals segment holds the largest share owing to high patient volumes. Alginate dressings are extensively used in hospital settings for effective wound management.
Key Market Takeaways:
The global alginate dressing market is anticipated to witness a CAGR of 4.2% during the forecast period 2024-2031, owing to rising geriatric population and incidence of chronic diseases.
On the basis of type, antimicrobial segment is expected to hold a dominant position, owing to ability to prevent wound infections. By application, acute wound segment will remain the leading segment due to high absorption and conformity of alginate dressings.
On the basis of region, North America is expected to hold a dominant position over the forecast period, due to well-established healthcare infrastructure and awareness regarding advanced wound care products.
Key players operating in the alginate dressing market include Cardinal Health, Smith & Nephew, 3M, Coloplast Corp., ConvaTech, Paul Hartmann, B. Braun Melsungen, Holloster Inc., Molnlycke Health Care AB, and Medline Industries, Inc. These players are focusing on new product launches and geographic expansion to increase their market share.
Recent Developments:
In October 2022, Healthium Medtech, launched a new wound dressing portfolio Theruptor Novo for the management of chronic wounds like diabetic foot ulcers and leg ulcers.
In February 2022, the silver alginate dressing manufactured by Winner Mecial, has been granted US. FDA market access and the company will continue to expand its operations in North America.
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Detailed Segmentation:
By Type:
- Antimicrobial
- Non-antimicrobial
By Application:
- Acute Wounds
- Surgical & Traumatic Wounds
- Burns
- Chronic Wounds
- Diabetic Foot Ulcers
- Pressure Ulcers
- Venous Leg Ulcers
- Others
By End User:
- Hospitals
- Specialty Clinics
- Home Healthcare
- Others
By Region:
North America:
- U.S.
- Canada
Latin America:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe:
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Middle East:
- GCC Countries
- Israel
- Rest of Middle East
Africa:
- South Africa
- North Africa
- Central Africa
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