The global Foam Dressing Market size is anticipated to reach USD 2.5 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.7% from 2022 to 2030. A few of the key drivers propelling the market growth include an increase in surgical cases, a rapidly aging population, and an increase in the number of diabetes patients. For instance, according to the World Economic Forum, the current population of Japanese people above 65 years of age is 25% of the total population. This number is further expected to rise to 40% by 2060. Older people are more likely to sustain wounds, thus, the market for foam dressing is expected to grow throughout the forecast period.
An
increase in the number of obese/overweight people is another fueling factor of
the market. For instance, according to an article by Sage Journals & Indian
Academy of Neurosciences, 2021, the number of obese people in India is
estimated to be 135 million. Similarly, as per the Obesity Evidence Hub,
two-thirds of the Australian people, i.e., 35.6% are overweight, whereas, 31.3%
are expected to be obese. These situations are anticipated to raise demand for
bariatric treatments and other related surgeries, driving the growth of the
market over the anticipated time frame.
Additionally,
the industry is anticipated to grow in the upcoming years with the launch of
the COVID-19 vaccine and the relaxation of lockdown restrictions. It is
anticipated that many elective procedures will be performed that were delayed.
Moreover, many top producers are engaged in strategic activities including new
launches, partnerships, and geographic expansion that could enable them to
profit from the rising demand for foam dressing products during the projection
period. For instance, in February 2022, Medline Industries announced the launch
of a new version of its foam dressing Optifoam Gentle EX Foam Dressing. This is
specially designed to displace the pressure whenever used with a pressure
injury prevention protocol. Thus, similar initiatives by other market players
are anticipated to boost market growth during the post-pandemic time.
Related Press
Release@ Foam
Dressing Market Report
Foam Dressing Market Report Highlights
- Based on
type, the adhesive foam dressing segment dominated the market and
accounted for a revenue share of 56.5% in 2021, owing to an increase in
the number of high exudate wound patients
- Based on
application, the chronic wound application segment accounted for a revenue
share of 59.9% in 2021 and is leading the market
- Based on
end-use, the hospital segment dominated the market, due to an increase in
surgical site infections among hospital patients. On the other hand,
during the projected period, the home healthcare segment is expected to
witness a CAGR of 5.4%
- North
America dominated the market and accounted for the highest revenue share
of 45.4% in 2021 owing to the increasing number of diabetic patients, rise
in the number of obese population, and technological advancements
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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