Silver Wound Dressings Market Expected to Reach $1,511.82 million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Silver Wound Dressings Market," The Silver Wound Dressings Market Size was valued at $889.1 million in 2021 and is estimated to reach $1,511.8 million by 2031, growing at a CAGR of 5.4% from 2022 to 2031.

Silver dressings are wound care products derived from ionic silver. These products release a steady amount of silver to the wound and provide antimicrobial or antibacterial action. Silver dressings may be used as primary or secondary dressings to manage minimal, moderate, or heavy exudate in acute and chronic wounds, including burns, surgical wounds, diabetic foot ulcers, pressure ulcers, and leg ulcers. It provides a broad range of antimicrobial activity, reduces infection, and alters metalloproteinases within wounds.

The Silver Wound Dressings Market Trends are the increase in the prevalence of sport-related injuries, road accidents, and the rise in the geriatric population. Moreover, the increase in the incidence and prevalence of chronic diseases (such as cancers and cardiovascular disease including heart disease, stroke, type II diabetes, and others), has resulted in the rise of the adoption of silver wound dressing in, cardiovascular surgeries, cancer-related surgeries, and others, are the key factors anticipated the growth of the market. For instance, according to a research article published by the National Institute of Medicine, about 21% of the elderly in India reportedly have at least one chronic disease out of which 17% elderly in rural areas and 29% in urban areas suffer from a chronic disease. Thus, a rise in the incidence of chronic diseases is expected to boost the demand for these products, thereby propelling the growth of the market.

However, the high cost of silver wound care products is the major factor projected to hinder the growth of the market. 

On the basis of product type, the silver wound dressings market is segmented into sheets, gels & creams, foams, and others. In 2021, the creams & gels segment accounted for the largest Silver Wound Dressings Market Share. The dominance of the segment is attributed to rising in the number of burns and ulcer cases across the world.

On the basis of treatment, the market is classified into ulcers, skin grafts, lacerations & cuts, surgical wounds, burns, and others. In 2021, the surgical wound segment exhibited the highest growth and is anticipated to lead the market during the forecast period, owing to a surge in the number of surgical procedures across the world.

By end user, the market is segmented into hospitals & clinics, ambulatory surgical centers, and home care. In 2021, the hospital & clinics segment exhibited the highest growth and is anticipated to lead the market during the forecast period, owing to an increase in the number of patients visiting the facilities for the treatment of acute and chronic wounds across the world.

North America accounted for a majority of the surgical wound dressings market share in 2021 and is anticipated to remain dominant during the forecast period owing to the high adoption rate of technologically advanced products, increase in healthcare expenditure, and the presence of major key players involved in the R&D activities.

Asia-Pacific is expected to register the fastest CAGR during the forecast period. The market growth in the Asia-Pacific region is supplemented by a rise in population in the countries like India and China, the high prevalence rate of road accidents, and prevalence of the chronic disease. In addition, an increase in patient awareness about the beneficial properties of silver-incorporated dressings such as their antimicrobial nature, reduction in healing time, and low infection risk are expected to further drive the Silver Wound Dressings Market Growth.

The key players that operate in the Wound Dressings Industry include 3M (Acelity Inc.) Medline Industries, LP, Argentum Medical LLC, B. Braun Melsungen AG, Convatec Inc, Dermarite Industries, Inc, Ferris Mfg. Corp., Ltd., Johnson and Johnson, Molnlycke Health Care AB, and Smith and Nephew PLC.

Key findings of the study

• By product type, the creams & gels segment was the highest contributor to the market in 2021.
• By treatment, the surgical wounds segment was the highest contributor in 2021.
• By end users, hospitals & clinics dominated the market in 2021 and are expected to continue this trend during the forecast period.
• By region, North America held the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.