About this market
With the increase in demand for combination dressings, the hydrogel dressings market is expected to grow rapidly over the next five years. A growing demand for antimicrobial agents such as silver, honey, iodine, and hydrogels are leading to the increased adoption of combination dressings and driving the growth of the global hydrogel dressings market. For instance, Cardinal Health manufactures and sells Cardinal Health Hydrogel +Ag, an amorphous hydrogel combined with an antimicrobial silver compound. This product is an effective barrier to bacterial penetration and helps avoid the contact of the gel with microorganisms. Technavio's analysts have predicted that the hydrogel dressings market will register a CAGR of more than 6% by 2023.
Increasing prevalence of acute and chronic wounds
The growing cases of acute and chronic wounds arising abrasions, incisions, pressure ulcers, and diabetic foot ulcers is expected to increase the demand for hydrogel dressing, which will contribute to the growth of the market.
High cost of wound treatments and hydrogel dressings
The high cost of wound treatment and hydrogel dressings affects the growth of the market as the estimated expenditure on wound care is almost ten times higher than the annual budget of the World Health Organization (WHO).
For the detailed list of factors that will drive and challenge the growth of the hydrogel dressings market during the 2019-2023 period, view our report.
The market appears to be fragmented and with the presence of several companies including 3M and Cardinal Health, the competitive environment is quite intense. Factors such as the increase in demand for combination dressings and rising prevalence of acute and chronic wounds, will provide considerable growth opportunities to hydrogel dressing manufacturers. 3M, Cardinal Health, Coloplast, ConvaTec, Integra LifeSciences, and Smith & Nephew are some of the major companies covered in this report.