Foam Dressings Market Expected to Reach $2.5 Billion by 2032

PORTLAND, OREGON, UNITED STATES, July 24, 2024 /EINPresswire.com/ -- The increase in incidences of chronic and acute wounds, advantages offered by foam dressings, and advancements in foam dressing products are some factors that drive the growth of the foam dressings market. Furthermore, an increase in incidences of conditions such as accidental injuries and chronic wounds drive the growth of the foam dressings market.

According to the report published by Allied Market Research, the global foam dressings market garnered $1.7 billion in 2022, and is estimated to generate $2.5 billion by 2032, manifesting a CAGR of 4.1% from 2023 to 2032.

There are several factors that are driving the growth of the foam dressings market size. One of the main drivers is the rise in the number of surgeries being performed around the globe. As more surgeries are performed, there is a corresponding increase in the demand for foam dressings, which are commonly used in post-operative care.

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Another foam dressings market trends which drives the growth of the market is the increase in the prevalence of chronic conditions such as diabetes and cardiovascular disorders. In addition, patients with chronic wounds such as diabetic foot ulcers, pressure ulcers, and venous ulcers often require foam dressings in wound care management. This, in turn, increases the demand for foam dressings in the healthcare sector.

Drivers:

Increase in adoption of advanced foam dressing among the population around the globe

Increase in prevalence of accidental injuries and burn cases around the globe

Opportunities:

Emerging markets possess high growth potential in the field of wound care including the foam dressings market, due to several factors, including rapid economic growth, increase in healthcare spending, and surge in demand for effective healthcare products and services

Foam dressings are often easier to apply and remove than traditional dressings, which can make them more convenient for both healthcare professionals and patients. Overall, these advancements in foam dressing technology boost the growth of the market and improve outcomes for patients with wounds.

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The research provides detailed segmentation of the global foam dressings market based on type, material, application, end-user, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

Based on application, the chronic wounds segment held the highest share in 2022, accounting for more than two-thirds of the global foam dressings market, and is expected to continue its leadership status during the forecast period. This segment is expected to register the highest CAGR of 4.4% from 2023 to 2032.

Depending on the application, the market is segmented into chronic wounds and acute wounds. In terms of revenue, the chronic wounds segment dominated the foam dressings market share in 2022. This growth was mainly attributed to the increase in the prevalence of chronic wounds among the population and the surge in demand for foam dressings in the management of chronic wounds. For instance, patients with diabetic foot ulcers are at an increased risk for complications related to infections and wound healing, which can lead to longer hospital stays and increased healthcare costs. Hence, there is a high demand for foam dressings in the population with diabetic foot ulcers for wound management which boosts the segment growth.

Based on material, the silicone segment accounted for the highest share in 2022, contributing to nearly three-fourths of the global foam dressings market, and is expected to maintain its lead in terms of revenue during the forecast period. This segment is expected to manifest the highest CAGR of 4.4% from 2023 to 2032.

Based on end user, the hospitals segment accounted for the highest share in 2022, holding more than half of the global foam dressings market and is projected to maintain its dominant share in terms of revenue in 2032. However, the home healthcare segment is estimated to grow at the highest CAGR of 5.3% during the forecast period.

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Based on region, North America held the largest share in 2022, contributing to around two-fifths of the global foam dressings market share and is projected to maintain its dominant share in terms of revenue in 2032. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 4.9% during the forecast period.

North America obtained the highest foam dressings market share in 2022. This growth in North America was attributed to several factors. This includes an increase in the number of surgeries being performed in this region and the rise in the incidence of chronic wounds and other conditions that require foam dressings for management among the population. In addition, the rise in prevalence of chronic wound including diabetic foot ulcers in this region is boosting the market growth. Thus, an increase in adoption of advanced foam dressing products for treatment of chronic and acute wounds along with developed healthcare infrastructure in North America contributes toward the growth during the foam dressings market forecast.

Leading market players of the global foam dressings market analyzed in the research include 3M Company, B. Braun SE, Cardinal Health Inc., Coloplast, Convatec Group PLC, Covalon Technologies Ltd., Essity Aktiebolag AB, Molnlycke Health Care AB, Smith and Nephew plc., Winner Medical Co., Ltd.

Key findings of the study:

• By material, the silicone segment dominated the foam dressings industry in 2022 and is anticipated to grow at the fastest rate during the forecast period.

• By application, the chronic wounds segment dominated the market in 2022 and is anticipated to grow at the highest CAGR during the forecast period.

• By end user, the hospitals segment dominated the foam dressings industry in 2022, and the home healthcare segment is anticipated to grow at the highest CAGR during the forecast period.

• Region-wise, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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Allied Market Research
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