Bioactive Wound Dressing Market to grow at a CAGR of 4.5% during 2024-2028
The Bioactive Wound Dressing Market is expected to grow at a CAGR of 4.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 914.5 million. The geriatric demographic represents a significant consumer base for bioactive wound dressings, given the increased susceptibility of this population to falls and subsequent unintentional injuries. According to global health data, approximately 25-35% of fall incidents occur in individuals aged 65 and above, leading to substantial hospital admissions. In the UK, Canada, and Australia, the hospital admission rate for geriatric fall victims ranges from 1-3 per 10,000 population. In the US, fall incidents account for 25% of annual occurrences among older adults, with around 20% resulting in severe injuries. Consequently, the demand for advanced bioactive wound dressings to effectively manage and expedite the healing process for geriatric patients is on the rise.
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Technavio analysts predict that the Moist wound care subsegment will lead the Type segment during 2024 and 2028 The moist wound care segment holds a significant market share in the global bioactive wound dressing industry. This segment's revenue growth can be attributed to its numerous advantages, including the promotion of rapid wound healing, enhanced autolytic debridement, reduced infection risk, accelerated angiogenesis and wound contraction, stimulated collagen synthesis, and decreased wound pain and scarring. End-users prefer moist wound dressings due to their ability to maintain a hydrated wound environment, ensure oxygen flow, remove necrotic tissue, protect against external infection, and offer affordability and ease of use. Moist wound dressings encompass various types, such as alginate, collagen, foam, hydrocolloid, hydrogel, wound contact layer, and film dressings.
Here are the various ways based on which the market is segmented:
Key Companies and Market Insights
Some of the key companies in the Global Bioactive Wound Dressing Market include:
There are several factors that are causing the market to flourish increasing prevalence of acute and chronic wounds
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Bioactive wound dressings are a type of advanced wound care solution that offer enhanced healing properties for various types of wounds, including traumatic injuries, burns, ulcers, surgical incisions, and chronic wounds. These dressings are particularly important in managing microbial infections, which are common in wounds and can lead to significant healthcare costs and complications. Biodegradable properties of bioactive wound dressings make them an ideal choice for long-term wound care, as they eliminate the need for frequent dressing changes. These dressings are gaining popularity in various healthcare settings, such as hospitals, trauma centers, pharmacy stores, and even in the armed forces. The elderly population and individuals with diabetes are particularly susceptible to chronic wounds, making bioactive wound dressings an essential tool for healthcare services. The antimicrobial properties of these dressings help prevent infections in wounds, ensuring faster healing and reducing the risk of complications. Active wound care, including moist wound care, is a critical aspect of wound management, and bioactive dressings offer an effective solution for healthcare workers in managing various types of wounds. The use of bioactive wound dressings can lead to reduced healthcare costs and improved patient outcomes.
The global healthcare supplies market, a segment of the larger healthcare industry, encompasses businesses and research entities specializing in the development of medical consumables. These products cater to the diagnosis and treatment of diverse diseases. According to Technavio's market analysis, the healthcare supplies market size is determined by the collective revenue generated by manufacturers of medical supplies such as syringes, drapes, gloves, and gowns. Key growth drivers for this market include the increasing aging population, with the number of individuals over 60 years projected to rise significantly in the US by 2050 and in Europe by 2030, leading to a surge in demand for healthcare supplies.
The Bioactive Wound Dressing Market is experiencing significant growth, fueled by the increasing prevalence of acute and chronic wounds. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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