The global silver wound care market valued USD 752.4 million in 2018 and is expected to grow at a CAGR of 6.5% to reach a market value of USD 1,238.0 million by 2026.
Silver dressings are most popular as antimicrobial dressings. Silver Dressing is now in demand to investigate and research new and effective antimicrobial agents for infected wounds to reduce infection, subsequently reducing the level of wound exudates. These are available in different forms, including silver sulfadiazine-impregnated dressings. It can be classified according to their release characteristics such as high release (Acticoat), moderate release (Silver cell), low release (Aquacell) or non-release (Antisorb). It provides antimicrobial action on low to high exudates wounds, ulcers and burns. Key products include Algidex Ag (De Royal), Aquacel Ag (ConvaTtec), Acticoat (Smith & Nephew).
Market Dynamics
Drivers
- Increasing cases of burn injuries
- Growing prevalence of diseases and conditions affecting wound healing capabilities
Restraints
- Complications associated with wound care products
Increasing cases of burn injuries
The global silver wound care market is driven by an increasing number of burn cases globally. Silver dressings is one of the widely preferred in case of burns as it enables fast recovery with minimum or no complications. Therefore, availability of superior quality silver and collagen dressings and it’s growing demand in treatment of burns has proven beneficial for the industry growth. Rising incidences of burn injuries specifically in developing and underdeveloped countries are impacting the market during the forecast period. Countries such as Africa and Brazil have a high number of burn cases. For instance, according to the WHO, around 180,000 deaths are caused due to burns in low- and middle-income countries annually. Children suffering from burns become disabled due to the severity of the condition and improper medical care in countries such as Egypt, Bangladesh, Pakistan, and Colombia. To treat burn wounds, skin replacement and substitute products are of great help. Each year in the United State alone, there are 70,000 burn injuries and 600,000–1,500,000 venous leg ulcers injuries. The treatment of wounds costs nearly $20 billion annually. According to American Burn Association in 2016, over 60% of the estimated US acute hospitalizations related to burns were admitted to 128 burn centers.
Geographical Analysis
The North America segment of Silver & Collagen Wound Care Market is valued at US$ 416.6 Million in 2018 and is estimated to grow at a CAGR of 7.3% over the forecast period to reach US$ YY Million by 2026. The U.S. has the highest standards of health care, which is also the costliest in the world. Rising prevalence of chronic wounds such as diabetic foot ulcer, venous ulcers and pressure ulcers (according to CDC estimates, around 2.5 million patients suffer from pressure ulcers every year in the U.S.) creates a large potential population. According to the National Institutes of Health, more than six million cases of chronic wounds cost $20 billion each year in the United States. Diabetic ulcers, pressure sores, surgical site wounds and traumatic injuries to high-risk patients account for most wounds that won't heal. However, data from a University of Missouri School of Medicine study in February 2017, indicated that a recently developed skin-graft harvesting system aids in chronic wound recovery and reduces care costs by accelerating the healing process. The increasing number of wound cases in the region are expected to boost the market. For instance, the National Institute of Health has estimated that 3% of the population of 65 years and above would have a wound at some time. An even higher rate of incidence is expected, owing to the traumatic injuries and ulcers endemic in resource-poor countries to other regions. Thus, the rising number of wounds is driving the market. The U.S. has the highest standards of health care, which is also the costliest in the world. Rising prevalence of chronic wounds such as diabetic foot ulcer, venous ulcers and pressure ulcers (according to CDC estimates, around 2.5 million patients suffer from pressure ulcers every year in the U.S.) creates a large potential population. According to the National Institutes of Health, more than six million cases of chronic wounds cost $20 billion each year in the United States. Diabetic ulcers, pressure sores, surgical site wounds and traumatic injuries to high-risk patients account for most wounds that won't heal. However, data from a University of Missouri School of Medicine study in February 2017, indicated that a recently developed skin-graft harvesting system aids in chronic wound recovery and reduces care costs by accelerating the healing process. The high number of Diabetic population in the United States is indicating that there are chances of rising cases of diabetic ulcers which are showing moderate prevalence. For instance, the National Institute of Health has stated that the incidence of DFU (Diabetic Foot Ulcers) in the United States was 15% in the year 2018. This is augmenting the demand for silver and collagen wound dressing in this country and ultimately the market is growing.
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