The Alginate Dressings Market is expected to be worth US$ 1.1 Billion at a CAGR of 3.5% between 2020 to 2030. Healthcare is going the “digital” way. In other words, artificial intelligence (AI)-enabled medical devices and telemedicine are the concrete instances of the proliferation of the digital wave in the healthcare industry. This factor would be the one traversing the healthcare vertical in the forecast period.
Wound dressing plays a crucial role in healing and management. Alginate dressings are the most preferred products to treat pressure ulcers, leg ulcers, infected surgical wounds, etc. which has led to a surge in their demand.
The global alginate dressings market is projected to be valued at US$ 1.1 Bn in 2030 and is expected to exhibit a CAGR of 3.5% during the forecast period (2020 – 2030).
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Companies covered in Alginate Dressings Market Report
- 3M Co
- Smith & Nephew Plc
- ConvaTec Group Plc
- Coloplast A/S
- BSN medical GmbH
- Braun Melsungen AG
- Mölnlycke Health Care
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Key Takeaways from Alginate Dressings Market Study
- Antimicrobial alginate dressings contributed for a larger revenue share than non-antimicrobial alginate dressings in the global alginate dressings market in 2019, owing to their high preference of use for wound healing.
- High adoption of alginate dressings for the treatment chronic wounds is expected to result in notable market share of the chronic ulcers segment in the alginate dressings market.
- Institutional sales contributed around three-fourth of value share by distribution channel due to increasing patient preference.
- North America captured a greater revenue share among all regions, and is expected to be the most lucrative region in the global alginate dressings market during the forecast period.
- Reluctant adoption and high cost of products are factors expected to affect the growth of the alginate dressings market around the globe.
- Outbreak of the COVID-19 pandemic has had a moderate impact on the overall growth of the alginate dressings market, due to its adverse effect on the global economy and healthcare industry.
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Consolidation Activities: Imperative Strategy for Market Players
An increase in market consolidation activities by market players, including collaborations and partnerships, are characteristics of the overall competition among global alginate dressings market players. Manufacturers are focusing on collaborations with research institutes and universities to drive research & development in advanced wound care. For instance, in July 2017, Smith & Nephew collaborated with the University of Hull to drive research in the field of advanced wound care.
What else is in the report?
Persistence market research offers actionable insights and a unique perspective on the alginate dressings market, in its latest study, presenting historical demand assessment of 2015 – 2019 and projections for 2020–2030, based on alginate dressing type (antimicrobial alginate dressings and non-antimicrobial alginate dressings), indication (chronic ulcers and non-healing surgical wounds), and distribution channel (institutional sales and retail sales), across seven key regions.
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