Silver Antimicrobial Wound Dressing Market Outlook 2031
The global silver antimicrobial wound dressing market size was USD 991 Million in 2022 and is likely to reach USD 1794 Million by 2031, expanding at a CAGR of 8.3% during 2023–2031. The market is fueled by the advancements in medical science and healthcare.
Increase in surgical procedures being conducted worldwide with the expansion of medical infrastructure is raising the demand for wound care products. Items such as silver antimicrobial dressings are extensively used to support post-operative healing and reduce infection risks. Furthermore, chronic diseases such as diabetes and obesity make it difficult for wounds to heal. As a result, the affected people require antimicrobial wound dressings to prevent and manage infections. Consequently, the growing prevalence of such chronic diseases is anticipated to boost the market during the projection period.
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According to the data provided in 2022 by the International Diabetes Federation (IDF) Diabetes Atlas, around 62% of all type 1 diabetes cases are coming from people aged 20 years or older. Type 1 diabetes is among the main reasons for death and ketoacidosis, making its cognizance of supreme importance.
The advancements in material science contribute to the development of innovative silver-based wound dressings with enhanced efficacy. These dressings are also extensively used in home healthcare. With the rise in the aging population and their home-based healthcare setups, the silver antimicrobial wound dressing can prove to be highly useful in age-related skin conditions and chronic wounds. These factors are likely to impel the market during the projection period.
The COVID-19 pandemic hindered the market due to a decline in the number of individuals seeking medical attention for surgeries or treatments at hospitals and clinics. Additionally, wound care centers across the country were shut down during the pandemic, and only emergency cases were given priority, which further constrained the growth of the market during the outbreak.
Silver Antimicrobial Wound Dressing Market Dynamics
Major Drivers
Increasing awareness about the benefits of silver wound dressing is expected to drive the market during the projection period. Silver wound dressings with broad-spectrum antibacterial activity are rapidly replacing traditional wound care solutions. This is due to its healing benefits not only for normal healthy individuals but also for people suffering from diabetes who struggle with chronic wounds. This shift is expected to drive the growth of the market, particularly in outpatient and inpatient healthcare settings.
Existing Restraints
Side effects in certain conditions are likely to hamper the market during the forecast period. There are some cases where the use of silver wound dressing can prove to be harmful. Particularly, the effects are prominent in cases of pregnancy and renal impairment. The silver ions released by the dressing increase membrane permeability and can lead to the intoxication of the respiratory chain. This is anticipated to impede the market during the projection period.
Emerging Opportunities
Growing number of traumatic events is anticipated to provide substantial opportunities for the market. Over the years, there has been a significant rise in road accidents and sports-related injuries. The trend of pursuing health and fitness to extreme levels has led to a high number of injuries caused in sports. With the adoption of modern lifestyles and an increase in disposable income, a large number of people now own automobiles.
Incidents of driving recklessly or under the influence are leading to high counts of accidents and trauma cases. As a result, the demand for silver antimicrobial additives and wound dressing has surged significantly, thereby creating profitable prospects for the market.
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According to the recent update from the U.S. Department of Commerce’s International Trade Administration, the US has become one of the chief manufacturers of automobiles across the world. In 2020, approximately 14.5 million light vehicle units were sold in this region.
Scope of the Silver Antimicrobial Wound Dressing Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Silver Antimicrobial Wound Dressing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Type (Gels and Creams, Sheets, Foams, and Others), Treatment (Burns, Surgical Wounds, Ulcers, Skin Grafts, Lacerations & Cuts, and Others), End-user (Hospitals & Clinics, Home Healthcare, and Ambulatory Surgical Centers)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Smith+Nephew; Mölnlycke Health Care AB; Medline Industries, Inc.; Johnson & Johnson, Inc; Ferris Mfg. Corp.; DermaRite Industries, LLC; Convatec Inc.; B. Braun SE; Argentum Medical LLC; and 3M.
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Silver Antimicrobial Wound Dressing Market Segment Insights
Type Segment Analysis
Based on type, the silver antimicrobial wound dressing market is divided into gels and creams, sheets, foams, and others. The gels and creams segment is projected to hold the major share of the market during the projection period due to them being part of the primary first-aid routine in the event of cuts and burns. Over the years, there has been a significant rise in sports-related injuries and road accidents.
As a result, silver-based antimicrobial gels and creams are commonly found in all first-aid kits, everywhere from households to hospitals. It is expected to have a considerable spur in the coming years with the advancement of healthcare and the growing adoption of these products among people.
The sheets segment is expected to experience significant surge during the assessment period. This can be attributed to the increasing prevalence of acute and chronic wounds, as well as the rising number of burn cases, which are driving the market's expansion. For instance, a report by Joye Law Firm estimates that in 2021, an average of 450,000 burn injuries requiring medical treatment occur annually throughout the United States.
Treatment Segment Analysis
On the basis of treatment, the global market is segregated into burns, surgical wounds, ulcers, skin grafts, lacerations & cuts, and others. The ulcers segment is projected to register a high CAGR during the forecast period due to the rise in chronic diseases such as diabetes, which causes diabetic foot ulcers, as well as surge in cases of venous and pressure ulcers. This has led to an increase in demand for silver-based wound dressing products worldwide, propelling market growth.
- For instance, a report published by the Health Innovation Program in June 2020 revealed that approximately 2 million Americans develop diabetic foot ulcers each year.
End-User Segment Analysis
On the basis of end-user, the silver antimicrobial wound dressing market is segmented into hospitals & clinics, home healthcare, and ambulatory surgical centers. The hospital segment is anticipated to register a robust growth rate during the forecast period owing to the increasing demand for the treatment of acute and chronic wounds.
The segment is driven by the rising incidence of diabetic foot ulcers and venous leg ulcers, which are treated with silver-based formulations for rapid healing. Additionally, the high number of surgeries has led to a rise in surgical wounds, further driving the segment's propulsion.
Regional Outlook
In terms of region, the global silver antimicrobial wound dressing market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period due to the excellent healthcare analytics and high frequency of road accidents, the increasing prevalence of chronic ailments, and the strong presence of several key market players in the region.
The availability of skilled healthcare professionals and improvement in healthcare infrastructure is also expected to drive the market in North America in the forecast period.
The market in Asia Pacific is likely to experience a considerable surge in the forecast period. This can be attributed to the presence of developing countries such as China, India, and Japan, which are expected to drive the market in the region. Additionally, the rising cases of chronic diseases, particularly diabetes, are also expected to fuel the growth of the market over the forecast period.
Segments
The silver antimicrobial wound dressing market has been segmented on the basis of
Type
- Gels and Creams
- Sheets
- Foams
- Others
Treatment
- Burns
- Surgical Wounds
- Ulcers
- Skin Grafts
- Lacerations & Cuts
- Others
End-User
- Hospitals & Clinics
- Home Healthcare
- Ambulatory Surgical Centers
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Smith+Nephew
- Mölnlycke Health Care AB
- Medline Industries, Inc.
- Johnson & Johnson, Inc
- Ferris Mfg. Corp.
- DermaRite Industries, LLC
- Convatec Inc.
- B. Braun SE
- Argentum Medical LLC
- 3M
Competitive Landscape
Key players competing in the global silver antimicrobial wound dressing market are Smith+Nephew; Mölnlycke Health Care AB; Medline Industries, Inc.; Johnson & Johnson, Inc; Ferris Mfg. Corp.; DermaRite Industries, LLC; Convatec Inc.; B. Braun SE; Argentum Medical LLC; and 3M.
These market players adopted several development strategies including acquisitions, partnerships, product launches, mergers, collaboration, and production expansion to expand their consumer base worldwide. For instance,
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In January 2022, ConvaTec, one of the prominent market players, entered the wound biologics sector with a bid of USD 450 million for acquiring Triad Life Sciences. This is intended to strengthen the former’s business in the US for advanced wound care.
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