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Silver Wound Dressing Market Will Generate About USD 1.3 Billion By 2027 | Grand View Research Inc.

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Silver Wound Dressing Market Will Generate About USD 1.3 Billion By 2027 | Grand View Research Inc.

July 10
13:33 2020
Silver Wound Dressing Market Will Generate About USD 1.3 Billion By 2027 | Grand View Research Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The demand for silver wound dressing market is on a rise owing to the increasing prevalence of chronic diseases, technological advancement, rising cases of accidents, trauma, and rising geriatric population.

According to a report, “Silver Wound Dressing Market Size, Share & Trends Analysis Report By Product (Traditional, Advanced), By End Use (Hospitals, Clinics, Home Healthcare), By Region, And Segment Forecasts, 2020 – 2027”, published by Grand View Research, Inc.,The global silver wound dressing market size is expected to reach USD 1.3 billion by 2027, expanding at a CAGR of 5.7%, according to a new report by Grand View Research, Inc. The rising cases of diabetic foot ulcers, introduction of technologically advanced products, and increasing cases of accidents and burns globally are the key driving factors for the market.

The silver wound dressings are, basically, advanced bandages comprising of silver as the main component. These topical wound care products allow rapid healing owing to antibacterial and antimicrobial properties, which prevents further complications. The dressings are majorly available as hydrocolloid and foam, charcoal cloth, and barrier layers. The bandage can also be used along with adjunctive and topical therapies as it helps in reduction of wound exudate, bacterial load, and healing of granulation tissues.

In addition, the bandage is also very much effective in healing chronic and acute injuries. The increasing cases of burn wounds and diabetic foot ulcers across the globe are anticipated to be the major driving factors for the market. For instance, as per the journal published by the International Journal of Endocrinology in 2018, around 15.00% to 25.00% of patients suffering from diabetes have the risk of developing diabetic foot ulcers and in next three years, the risk rate may increase around 17.0% to 60.0%. Since, these dressings allows rapid and effective healing of diabetic foot ulcers, thus increasing incidence of chronic injuries are expected to surge the demand for these products, thereby propelling silver wound dressing market growth over the forecast period.

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North America dominated the market in 2019 owing to rising cases of chronic diseases, road accidents, and presence of key market players in the region. Advanced healthcare infrastructure and availability of professionals will drive the market in the region over the forecast period. In Asia Pacific, the market is expected to grow fast over the forecast period owing to rising cases of chronic diseases in the region.

U.S. silver wound dressing market size

Silver Wound Dressing Market Report Highlights

  • The silver foam dressing segment is anticipated to witness the largest market share over the forecast period owing to the increasing incidence of diabetic foot ulcers and venous leg ulcers across the globe

  • The hospital segment held the largest market share in 2019 due to the rising cases of burns and accidents

  • In Asia Pacific, the market is expected to witness the fastest growth over the forecast period owing to the rising number diabetic patients and growing medical tourism in the region

  • Prominent players present in the silver wound dressing market are Smith and Nephew PLC., Mölnlycke Health Care AB, and 3M.

End-use Insights

The hospitalsegment held the largest share in 2019 in the silver wound dressing market. The increasing demand for the treatment of acute and chronic wounds is one of the major driving factors for the growth of the segment. In addition, increasing incidence of diabetic foot ulcers and venous leg ulcers is also anticipated to drive the segment. The silver based formulations are majorly used for rapid healing of leg ulcers. Furthermore, increasing cases of surgical wounds due to rise in the number of surgeries is also driving the segment. Thus, these factors may fuel segment growth over the forecast period.

Global silver wound dressing market share

The home healthcare segment is expected to witness the fastest growth over the forecast period. Most of the surgeries require prolonged recovery period, leading to frequent changing of dressing. Thus, the demand for advanced wound care products in home healthcare setting is increasing. Moreover, geriatric and bariatric population and patients suffering from chronic wounds prefer homecare over hospital stay.

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Silver Wound Dressing Market Segmentation

Grand View Research has segmented the global silver wound dressing market on the basis of product, end use, and region:

Silver Wound Dressing Product Outlook (Revenue, USD Million, 2016 – 2027)

  • Traditional

    • Silver Bandages

    • Others

  • Advanced

    • Silver Foam Dressing

    • Silver Plated Nylon Fiber Dressing

    • Silver Hydrogel/Hydrofibre

    • Silver Alginates

    • Nano Crystalline Silver Dressings

    • Others

Silver Wound Dressing End-use Outlook (Revenue, USD Million, 2016 – 2027)

  • Hospitals

  • Clinics

  • Home Healthcare

  • Others

Silver Wound Dressing Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Russia

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • MEA

    • South Africa

    • Saudi Arabia

    • UAE

    • Turkey

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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