The global hydrogel dressing market size, as forecasted by Straits Research, is poised to hit USD 996.75 million by 2031, experiencing substantial growth at a CAGR of 9.9%

North America leads the global hydrogel dressing market with an anticipated 8.7% CAGR, driven by advanced healthcare systems, increased adoption of wound care products, and a growing geriatric population. Favorable reimbursement policies and the presence of key players like 3M and Johnson & Johnson further accelerate market growth.

New York, United States, Feb. 07, 2024 (GLOBE NEWSWIRE) — Hydrogel is an insoluble polymer chain network crucial in wound care due to its high moisture content, which prevents infections by inhibiting microbes. It maintains the wound surface moist, which aids in pain control and creates an excellent environment for autolytic debridement and wound cleansing. The hydrogel dressing products help patients with chronic ailments with treatments by providing reasonably priced and easily accessible items. Hydrogels are also used to produce soft contact lenses and personal hygiene products that absorb body fluids and inhibit the growth of bacteria. In addition, they offer numerous benefits, such as maintaining a hydrated environment for optimal oxygen flow, maintaining a constant temperature, protecting the wound site from external infection, and reducing the pain associated with dressing changes.

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Upsurge in Incidences of Diabetes, Ulcers, Obesity, and Chronic Conditions Drives the Global Market

According to Straits Research, “The global hydrogel dressing market revenue was valued at USD 426.12 million in 2022. It is estimated to reach USD 996.75 million by 2031, growing at a CAGR of 9.9% during the forecast period (2023–2031).” The rising prevalence of diabetes, ulcers, obesity and chronic illnesses is anticipated to drive demand for hydrogel dressings. In the United States, peptic ulcer disease (PUD) affects around 4.5 million people annually. In 2019, greater than 39 percent of people aged 18 and older were overweight. In addition, the IDF (International Diabetes Federation) projects that the number of diabetics will increase from 465 million in 2019 to 700 million in 2045. In addition, diabetes and obesity can lead to the development of other chronic illnesses, including venous insufficiency and decreased wound healing. Hence, an increase in chronic illnesses and comorbidities results in a rise in the complexity of wounds, which drives the demand for hydrogel dressing products.

Rising Awareness Related to Hydrogel Applications and Advantages Creates Tremendous Opportunities

Growing regions such as North America and the United States give lucrative prospects for key players operating in the hydrogel dressing market due to a high population base, greater awareness about hydrogel dressing, and an increase in demand for sophisticated therapies. In addition, the healthcare industry in emerging economies is expanding rapidly due to an increase in demand for advanced healthcare services, substantial investments by developing country governments to improve healthcare infrastructure, and the emergence of the medical tourism industry in emerging economies. Hydrogel dressing also offers numerous benefits, including rehydrating the wound bed, decreasing pain due to its cooling properties, and promoting autolytic debridement.

Regional Analysis

North America is the most substantial shareholder in the global hydrogel dressing market and is anticipated to grow at a CAGR of 8.7% during the forecast period. North America accounted for the largest share and is expected to continue growing in the near future. This is primarily due to the development of advanced systems, an increase in the adoption of wound care products for treating chronic and acute wounds, and an increase in the elderly population. The ease of availability of wound care products and the rise in consumer knowledge of their benefits drive market expansion. In addition, attractive reimbursement scenarios by the Centers for Medicare & Medicaid Services (CMS) for wound treatment fuel growth in the U.S. hydrogel dressing industry. This is due to revised reimbursement procedures providing hospitals economic incentives to improve services and cut costs. Further, the presence of major essential regional companies, such as 3M, ConvaTec Group Plc, Integra Lifesciences (Derma Sciences), and Johnson & Johnson, drive the market’s expansion.

European hydrogel dressing industry growth is projected to exhibit a CAGR of 9.5% over the forecast period. The growth of the European hydrogel dressing market is propelled by an increase in awareness about the solutions for chronic wound infection, the presence of a large population base, an increase in disposable income, the expansion of the geriatric population, and an increase in demand for emerging technologies. Furthermore, an increase in the prevalence of chronic diseases, such as diabetes, as a result of lifestyle changes considerably drives market expansion. According to the International Diabetes Federation, over 59 million persons aged 20-79 were diagnosed with diabetes in Europe in 2019. The spike in demand for hydrogel dressing products and the strong presence of important companies, such as B. Braun Melsungen AG and Smith & Nephew Plc, favorably impact the market growth in this area. In addition, European hospitals are spending more on hydrogel dressing goods and technology because of its speedy healing process.

Key Highlights

  • Based on the product, the global hydrogel dressing market is divided into amorphous hydrogel, impregnated hydrogel, and sheet hydrogel. The amorphous hydrogel segment is responsible for the highest market share and is predicted to grow at a CAGR of 10.4% over the forecast period.
  • Based on end-user, the global hydrogel dressing market is segmented into hospitals, physician’s offices, and others. The hospital segment owns the highest market share and is predicted to exhibit a CAGR of 9.3% during the forecast period.
  • North America is the most substantial shareholder in the global hydrogel dressing market and is anticipated to grow at a CAGR of 8.7% during the forecast period.

Competitive Players

The key global hydrogel dressing market players are B. Braun Melsungen AG, ConvaTec Group plc, 3M Company, Axelgaard Manufacturing Co., Ltd, Svenska Cellulosa Aktiebolaget SCA (publ), Coloplast A/S, Smith & Nephew plc, Integra LifeSciences, Johnson & Johnson, and Procyon Corporation.

Market News

  • In March 2023, NEXGEL, Inc. announced that it partnered with Greg “The Beast” Gurenlian, a former Major League Lacrosse (MLL) player and founder of The Face-off Academy, to give athletes an improved treatment for turf burn using NEXGEL’s Turfguard, a novel hydrogel dressing for easing turf burn and protecting athletic wounds.
  • In January 2023, Kane Biotech Inc. announced that it entered a distribution agreement with Salud Pharma S.A. (“Salud Pharma”) for its coactiv+TM Antimicrobial Hydrogel wound care and DermaKBTM scalp care products.

Global Hydrogel Dressing Market: Segmentation

By Product

  • Amorphous Hydrogel
  • Impregnated Hydrogel
  • Sheet Hydrogel

By End-User

  • Hospitals
  • Physician’s Office
  • Others

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

Get Detailed Market Segmentation @ https://straitsresearch.com/report/hydrogel-dressing-market/segmentation

About Straits Research Pvt. Ltd.

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Originally published at https://www.einpresswire.com/article/686892661/the-global-hydrogel-dressing-market-size-as-forecasted-by-straits-research-is-poised-to-hit-usd-996-75-million-by-2031-experiencing-substantial