Alginate Dressing Market

Alginate Dressing Market Outlook (2022-2032)

The alginate dressing market is expected to reach a valuation of US$ 1 Billion by 2022FY. Furthermore, across the 2022-2032 period of assessment, growth is expected to accelerate at a 4.1% CAGR, reaching US$ 1.50 Billion.

The increasing frequency of chronic wounds and burn cases throughout the world is predicted to drive the growth of the alginate dressing’s market size over the assessment period. It is expected that 1 to 2% of the population in affluent nations would suffer from a chronic wound over their lives. Chronic wounds afflict more than 6 million people in the United States each year. As a result, chronic wounds are one of the leading causes of death and morbidity, and they require sophisticated therapy such as alginate dressings to be treated.

Increasing burn incidences are also causing major public health issues across the world. According to the WHO, over 180,000 people die each year as a result of burns. Thus, rising demand for improved wound dressing solutions for the treatment of burn ulcers is likely to propel the alginate dressings market forward in the future years.

Report Attributes	Details
Expected Market Value (2022)	US$ 1 Billion
Projected Forecast Value (2032)	US$ 1.50 Billion
Global Growth Rate (2022-2032)	4.1% CAGR
Prominent Alginate Dressing Service Players	Cardinal Health Smith & Nephew 3M Coloplast Corp. ConvaTec Paul Hartmann AG B. Braun Melsungen Hollister Incorporated Molnlycke Health Care AB. Medline Industries, Inc.

2017-2021 Revenue Analysis of Alginate Dressing Market vs. Growth Outlook 2022-2032

According to Fact.MR, market research and competitive intelligence provider, the global market for alginate dressing at a 3% CAGR from 2017 to 2021. The rising frequency of burn cases and chronic wounds is expected to drive the worldwide alginate dressing market over the projected period of 2022-2032. Calcium alginate dressing is made from earthy colored kelp and is rather spongy due to the presence of salt and calcium strands.

Moreover, when in touch with an injury, alginate dressings form a gel. The production of gel reduces wound discharges and bacterial contamination. When these alginate dressings become entangled in an injury, they biodegrade. The market is being driven by an increase in incidents that result in fatal wounds, such as severe singeing and dry injuries.

Furthermore, a lack of awareness among consumers and medical professionals, particularly in agricultural nations, is impeding the growth of the calcium alginate dressing market. Based on the aforementioned trends, the global market Alginate Dressings poised to surge at a 4.1% CAGR, reaching US$ 1.50 Billion by 2032.

Key Market Drivers Influencing Alginate Dressing Industry Expansion

Increasing Demand for Complex Wound Treatment to Drive Market Growth

Traditional first-aid products used for wound dressings in hospitals and homecare settings have several drawbacks, including poor absorption of wound exudates, inability to maintain a moist environment, poor gas exchange between the environment and the wound, allergic and non-sterile reactions, difficulty removing wound dressings after healing, and so on.

Though traditional first-aid items remain in high demand, improved wound dressing treatments are now favored for the treatment and management of chronic wounds. Alginate dressings are chosen for chronic wound therapy due to its unique qualities such as better absorption capacity of wound exudates, limiting bacterial infection, and enhancing wound healing, which is expected to boost the alginate dressings market.

New product Introductions are Propelling the Growth of the Alginate Dressings Market

Manufacturers in the alginate dressings market are focusing on delivering innovative products with improved clinical outcomes to minimize pain, keep wounds moist, and promote overall patient comfort.

Key alginate dressings market participants are also attempting to boost consumer convenience by distinguishing their goods from others. These industry leaders are doing so by incorporating innovative functionality in order to maintain their market leadership.

For example, GEMCO Medical debuted the GEMCORE360 brand of alginate dressings in February 2019, which comprises foams, hydrocolloids, alginates, and thin film dressings.

Key Challenges encountered by Alginate Dressing Industry

Alginate Dressing is Unsuitable for Dry Wounds which is likely to Slow down the Market Growth

Alginate dressing is not recommended for wounds that are heavily bleeding, as well as wounds that are dry or have little exudate. They are also unsuitable for surgical implantation or third-degree burns.

Country-wise Analysis

How will the U.S Perform in the Global Alginate Dressing Industry Landscape?

Increase in Chronic Wound Prevalence to Boost the Market Growth

North America dominated the worldwide industry in 2021, accounting for a considerable share of the market, and is predicted to increase at a rapid pace throughout the forecast period.

The region's dominance can be ascribed to an increase in chronic wound prevalence, greater treatment costs, and the availability of adequate insurance systems in the United States.

According to an NCBI article, the prevalence of diabetic foot ulcers in the general population in the United States was around 13%. Furthermore, the yearly economic cost for venous leg ulcers in the United States was projected to be at US$ 14.90 billion.

How will the Growth of Alginate Dressing Market expand across India?

Increasing medical tourism to enhance the Market Prospects

India is expected to document significant growth until 2032. The region is rapidly expanding, providing several prospects for the launch of new items. Furthermore, medical tourism is growing in this region, which is increasing the number of procedures performed.

Growing economies, an increase in the number of traumatic ulcer patients, and ongoing government funding for innovative healthcare product development are all predicted to drive demand for alginate dressings in the area.

According to a survey done by the Indian Institute of Public Administration, around 697,453 international tourists visited India for medical treatment in 2019. This region's market is also increasing as a consequence of greater government support and a focus by the main firms in developing Asian nations. However, price sensitivity and a lack of understanding have stifled the growth of alginate dressing market.

Country-wise Forecast CAGRs for the Alginate Dressing Market

Country	CAGR
U.K	3.9%
India	3.8%
South Korea	3%
China	2.9%
U.S	4%

Category-wise Insights

Which is the Most Sought-after End Use Category?

The Hospitals End-Use Category to Boost the Segment’s Growth

In 2021, the hospitals end-use category held the highest share of market. This segment's dominance can be linked to an increase in the patient population and an increase in the number of hospitals globally. According to Smith & Nephew, patients with wounds occupy 25 to 40% of beds in a typical hospital setting.

Furthermore, an increase in the number of surgical operations is propelling the industry forward. According to the most recent numbers released in a study paper in NCBI, a total of 31, 02,674 surgical operations were performed in England and Wales in 2020. Because alginate dressings are routinely used for surgical wounds, their use is projected to expand as the number of procedures increases.

Which Segment to Remain Dominant in the Type Category?

The Non-Antimicrobial Segment to Enhance Growth Prospects

In 2021, the non-antimicrobial alginate dressing segment led the industry, accounting for a major share of worldwide sales. The segment's dominance might be attributed to the availability of items that are often utilized.

Furthermore, the bulk of the businesses offer low-cost goods. However, as technology advances, silver alginate dressing is gaining favor, and the usage of non-antimicrobial alginate dressing is predicted to decline.

Due to recent product introductions and several researches on antimicrobial alginate dressing, the antimicrobial alginate dressing market is expected to grow at the quickest CAGR over the forecast period.

Alginate Dressing Market- Competitive Landscape

Expanding prevalence of continuing illnesses and expanding appropriation of alginate dressing items when contrasted with conventional injury dressing items are expected to accelerate market development over the forecast time frame. Furthermore, the constant focus of manufacturers on advancement in the functionality of alginate dressing products is also responsible for rapid market expansion.

Some prominent market developments are as follows :

• In October 2022, Medline and the Hoag Memorial Hospital Presbyterian Health System in California have formed a $200 million multi-year prime vendor collaboration. The strategic relationship will deliver a wide portfolio of important medical supplies and solutions to the system's complete acute and non-acute care network in support of the Orange County community's full continuum of care. The two businesses will work together to develop innovative ideas for improving the supply chain operations, patient outcomes, and clinical efficiency of the system.

Key Segments Covered in the Alginate Dressing Industry Survey

• By Type :

  • Antimicrobial
  • Non-antimicrobial

• By Application :

  • Acute Wounds
    • Surgical & Traumatic Wounds
    • Burns
  • Chronic Wounds
    • Diabetic Foot Ulcers
    • Pressure Ulcers
    • Venous Leg Ulcers
    • Other Chronic Wounds

• By End User :

  • Hospitals
  • Clinics
  • Home Healthcare
  • Others

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa