Foam Dressing Market Worth $2.5 Billion by 2030 at CAGR 4.7%: Grand View Research, Inc.

SAN FRANCISCO, July 18, 2022 /PRNewswire/ -- 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.

Key Industry Insights & Findings from the report:

• 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.

Read full market research report for more Insights, "Foam Dressing Market Size, Share & Trends Analysis Report By Type (Adhesive Foam Dressing, Non-adhesive Foam Dressing), By Application (Chronic Wounds, Acute Wounds), By End Use, By Region, And Segment Forecasts, 2022 - 2030, published by Grand View Research.

Foam Dressing Market Growth & Trends

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.

Foam Dressing Market Segmentation

Grand View Research has segmented the global foam dressing market based on product, application, end-use, and region:

Foam Dressing Market - Type Outlook (Revenue, USD Million, 2018 - 2030) 

• Adhesive Foam Dressing
• Non-adhesive Foam Dressing

Foam Dressing Market - Application Outlook (Revenue, USD Million, 2018 - 2030)

• Chronic Wounds
• Diabetic Foot Ulcers
• Pressure Ulcers
• Venous Leg Ulcers
• Other Chronic Wounds
• Acute Wounds
• Surgical & Traumatic Wounds
• Burns

Foam Dressing Market - End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Specialty Clinics
• Home Healthcare
• Others

Foam Dressing Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

List of Key Players in the Foam Dressing Market

• 3M
• Coloplast Corp.
• Medline Industries
• Smith & Nephew
• Cardinal Health
• ConvaTec Group PLC
• Derma Sciences Inc. (Integra LifeSciences)
• Ethicon (Johnson & Johnson)
• McKesson Corporation
• Molnlycke Health Care AB

Check out more related studies published by Grand View Research:

• Wound Dressing Market - The global wound dressing market size is expected to reach USD 19.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.3% from 2022 to 2030. Increasing number of people suffering from chronic wounds, rise in technologically advanced dressing and rising cases of traumatic accidents are expected to be the key driving factors for the market.
  
  
• Advanced Wound Dressing Market - The global advanced wound dressing market size is expected to reach USD 9.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.5% from 2021 to 2028. An increasing number of accidents, the impact of COVID-19, and technological advancements are the key driving factors for the market. The increasing incidence of accidents such as road accidents, burns, and trauma events across the globe is anticipated to drive the market. For instance, as per the WHO (2018), around 1,000,000 people are severely or moderately burnt in India per year. In addition, as per NCBI, in 2017, countries such as Bulgaria, Finland, the Netherlands, China, Australia, and the U.K. reported a rise in the incidence of burn injuries.
  
  
• Moist Wound Dressings Market - The global moist wound dressings market size is expected to reach USD 6.51 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.4% from 2022 to 2030. The increasing cases of acute and chronic wounds such as surgical, diabetic, and traumatic wounds, lacerations, and diabetic ulcers are driving the market. As per the estimates provided by Elsevier, about 300 million acute wound injuries occur per year.

Browse through Grand View Research's Medical Devices Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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