Subject: MRR
Foam Dressings Market Is Expected to Generate $2.5 Billion by 2032: Allied Market Research
The global foam dressings market is driven by factors such as increase in adoption of advanced foam dressing among the population and increase in prevalence of accidental injuries and burn cases around the globe. Based on region, North America held the largest share in 2022, contributing to around two-fifths of the global foam dressings market share.
PORTLAND, Ore., May 4, 2023 /PRNewswire/ -- According to the report published by Allied Market Research, the global foam dressings market garnered $1.7 billion in 2022, and is estimated to generate $2.5 billion by 2032, manifesting a CAGR of 4.1% from 2023 to 2032. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
Report Coverage | Details |
Forecast Period | 2023-2032 |
Base Year | 2022 |
Market Size in 2021 | $1.7 billion |
Market Size in 2031 | $2.5 billion |
CAGR | 4.1 % |
No. of Pages in Report | 289 |
Segments covered | type, material, application, end-user, and region. |
Drivers | Increase in adoption of advanced foam dressing among the population around the globe Increase in prevalence of accidental injuries and burn cases around the globe |
Opportunities | Emerging markets possess high growth potential in the field of wound care including the foam dressings market, due to several factors, including rapid economic growth, increase in healthcare spending, and surge in demand for effective healthcare products and services |
Restraints | The high cost of foam dressing products |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a significant impact on the global supply chains and the manufacturing of medical products, including foam dressings.
- The closure or suspension of production facilities, along with disruptions to transportation and logistics, had caused shortages of raw materials and other components, leading to difficulties in the availability of essential medical products.
- Furthermore, the pandemic had affected ulcer treatment due to the disruption of the healthcare systems as hospitals postponed or cancelled the non-urgent medical appointments and procedures, including those related to ulcer treatment.
- In addition, the decrease in the number of surgical procedures around the globe during the pandemic reduced the demand for foam dressings for post-operative wound care.
- Despite the negative impact of the pandemic, several countries have implemented strategies that have helped to regularize the supply chain of medications and medical devices, including foam dressings. This is anticipated to boost the growth during the foam dressings market forecast.
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The research provides detailed segmentation of the global foam dressings market based on type, material, application, end-user, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on application, the chronic wounds segment held the highest share in 2022, accounting for more than two-thirds of the global foam dressings market, and is expected to continue its leadership status during the forecast period. This segment is expected to register the highest CAGR of 4.4% from 2023 to 2032.
Based on material, the silicone segment accounted for the highest share in 2022, contributing to nearly three-fourths of the global foam dressings market, and is expected to maintain its lead in terms of revenue during the forecast period. This segment is expected to manifest the highest CAGR of 4.4% from 2023 to 2032.
Based on end user, the hospitals segment accounted for the highest share in 2022, holding more than half of the global foam dressings market and is projected to maintain its dominant share in terms of revenue in 2032. However, the home healthcare segment is estimated to grow at the highest CAGR of 5.3% during the forecast period.
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Based on region, North America held the largest share in 2022, contributing to around two-fifths of the global foam dressings market share and is projected to maintain its dominant share in terms of revenue in 2032. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 4.9% during the forecast period.
Leading market players of the global foam dressings market analyzed in the research include 3M Company, B. Braun SE, Cardinal Health Inc., Coloplast, Convatec Group PLC, Covalon Technologies Ltd., Essity Aktiebolag AB, Molnlycke Health Care AB, Smith and Nephew plc., Winner Medical Co., Ltd.
The report provides a detailed analysis of these key players of the global foam dressings market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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"We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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