Biodegradable Dressings Market

Market Study on Biodegradable Dressings: Increasing Sinus Surgeries to Majorly Drive Market Growth

Biodegradable Dressings Market Segmented By Polyvinyl Alcohol (PVA) Foam, Hyaluronic Acid, Carboxymethyl Cellulose, Fibrin Glue, Microporous Polysaccharide Hemisphere, Chitosan

  • October-2021
  • PMRREP32935
  • 230 Pages
  • Healthcare
  • PPT, PDF, WORD, EXCEL

Market Snapshot

The global biodegradable dressings market was valued at US$ 190.7 Mn in 2020, and is expected to reach US$ 285.8 Mn by 2031, reflecting a CAGR of 3.8% over the forecast period (2021-2031). As per Persistence Market Research’s projections, polyvinyl alcohol (PVA) foam holds a substantial share by product, at around 36.4% in 2021, in the overall market.

Data Points

Market Insights

Market Value 2020

US$ 190.7 Mn

Market Value 2031

US$ 285.8 Mn

CAGR 2021-2031

3.8%

Share of Tier 1 Companies

55%

Find Out More about the Report Coverage

Companies

  • Aegis Lifesciences Pvt. Ltd.
  • Medtronic
  • Datt Mediproducts Pvt. Ltd.
  • Stryker
  • Huizhou Foryou Medical Devices Co, Ltd
  • BenQ Materials Corp
  • EON Meditech Pvt. Ltd
  • Axio Biosolutions Pvt. Ltd.
  • Divine Medicure Technology
  • Cenefom Corp.
  • Smith – Nephew
  • Baxter.
  • Reliance Life Sciences
  • Hangzhou Singclean Medical Product Co. Ltd.

Demand Analysis of Biodegradable Dressings from 2016 to 2020 Vs Market Outlook for 2021 to 2031

Sales of biodegradable dressings increased at a CAGR of nearly 2.9% from 2016 to 2020. Increasing R&D investments by major players, rising FDA approvals, increase in prevalence of hypertension, and rise in sinus surgeries are providing impetus on market growth.

Given the high fragmentation of the market, apart from a few major players such as Stryker and Medtronic, the market majorly constitutes of local manufacturers. These big players have adopted a strategy of acquiring companies that are established in any specific segment of the healthcare industry. The company that gets acquired possesses well-established products and solutions, which become a good revenue source for the acquirer. This also enables the acquirer to enter new emerging markets as well as enhance existing market share.

  • For example, on August 6, 2021, Medtronic acquired Intersect ENT to expand its portfolio of products used for ear, nose, and throat treatment procedures.
  • In July 2018, BenQ Materials Corporation acquired Sigma Medical Supplies, as it intends to further increase its deployment in the medical market.
  • On December 7, 2017, Stryker Corporation acquired Entellus Medical Inc. Together, Stryker and Entellus' breakthrough ENT devices will give clients the tools they need for cost-effective alternatives in healthcare.

Persistence Market Research’s expects sales of global biodegradable dressings to increase at a CAGR of 3.8% through 2031. Growth is attributed to exponential increase in cancer research studies, rise in epistaxis cases, and major companies actively participating in partnerships, collaborations, mergers, and acquisitions to expand their market presence and strengthen their product portfolios.

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What are the Key Opportunities on Offer for Biodegradable Dressing Suppliers?

R&D and investments by leading manufacturers will have a huge impact on the biodegradable postoperative nasal dressings market to flourish in the future.

With growing prevalence of cancer worldwide, market players are attempting to capture market share by acquiring well-established companies in different sectors. ENT-related companies have seen a large number of acquisitions in the past few years. By doing so, they will be able to expand their product portfolios in respective segments.

Key market players are innovating new products by exploring diverse possibilities of applications in an attempt to make it their unique selling point. This promotional strategy is expected to be highly impactful in the market. Active collaborations with hospitals, clinicians, and healthcare providers are likely to directly impact sales and growth in the market.

Improvement and streamlining of regulatory processes in developing countries is expected to boost formalization of practice standards, development of better clinical treatment guidelines, and standardization of product usage.

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A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.

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What Factors are Restraining Demand for Biodegradable Dressing Manufacturing?

Equipment such as nasal dressings that are used in post-operative management of nasal surgeries can cause trauma to the site of surgery leading to further complications for the recovering patient. This factor can hamper market growth to some extent.

Another major restraint is the fragmented nature of the existing market. No single organization is dominating this market due to the presence of local manufacturing companies.

Apart from prominent companies such as Stryker, Medtronic, Baxter, and Smith and Nephew, many regional companies also manufacture nasal dressings and aim to expand their sales globally. These regional players hold a prominent market place in their respective areas, making it hard for other companies to enter the market.

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Country-wise Insights

Will the U.S. Remain a Key Market for Biodegradable Dressings?

In 2021, the U.S. is estimated to account for around 91.4% value share in North America.

Demand for biodegradable dressings is increasing in the U.S. due to high spending on research & development activities, growing incidence of chronic diseases, and rising number of surgeries. Additionally, presence of prominent players in the country is also one the factors for high market growth.

Why is Germany Considered a Lucrative Market for Biodegradable Dressings in Europe?

Germany is expected to account for nearly 25.3% of the market share in Europe by 2031.

Rise in demand for biodegradable dressings in the country is primarily due to rapidly growing geriatric population, robust policies for healthcare reimbursements, and ongoing postoperative healthcare training.

Other important variables include increase in the number of chronic and respiratory diseases and rise in the number of emergency visits for nasal, which are likely to offer new opportunities for biodegradable dressing manufacturers in Germany.

What is the Biodegradable Dressing Demand Outlook for China?

The China market is expected to account for around 7% CAGR over the forecast period. China also includes domestic market impact factors and regulatory changes that affect current and future market trends. Growing product penetration through online retail channels and increasing number of surgeries are major factors driving market growth.

Some of the key indicators of the Chinese market include new sales, substitute sales, nation demographics, regulations, and import-export taxes.

How Fast is Demand for Biodegradable Dressings Growing in India?

Demand for biodegradable dressings in India is likely to increase at a CAGR of 6.4% through 2031, with a market share of 47.4% in the South Asia market in 2021.

Major factors that are adding market growth are increasing elderly population, rise in sinus surgeries, large patient pool of chronic and respiratory diseases, increasing number of product approvals and launches, and numerous distribution agreements.

Category-wise Insights

Why is Demand for Polyvinyl Alcohol (PVA) Foam Rising Rapidly?

In terms of product, polyvinyl alcohol (PVA) foam holds the highest share of 36.4% in 2021, and is set to expand at 3.2% CAGR over the decade, indicating high demand due to its antimicrobial property and incredible durability as compared to other dressing products.

Why Do Hospitals Account for Highest Market Share by End User?

In terms of end user, hospitals account for 53.9% market share in 2021, indicating high demand due to increasing number of surgeries and advanced treatment options carried out in this setting.

How is the Pandemic Fuelling Entrepreneurship for Biodegradable Dressings?

The COVID-19 pandemic has given a major boost to start-ups. These companies have emerged as significant driver of economic development and employment creation, and are often a stimulus for radical innovation.

As per the Financial Times report by Forbes, in 2020, 551,657 applications for the registration of new companies were received in the US alone; this was a 95% increase than the previous year. According to McKinsey, 84,000 new businesses were registered in France at a growth rate of 20% as compared to 2019. Japan had a 14% rise in newly registered companies, i.e., 10,000 companies in a year.

These start-ups are making an attempt to cater to customers’ demands by innovating their own products. This is a great opportunity for the nasal dressings market as more start-ups will start working on problems and restraints faced by existing companies in the market. Individual enterprise breakthroughs like this will help several economies swiftly overcome the pandemic's impacts.

Competitive Landscape

Companies manufacturing biodegradable dressings are actively seeking to strengthen their position through approvals, collaborations, mergers & acquisitions, partnerships, and agreements with established as well as emerging market players.

Technological advancements, product launches, and acquisitions accelerate manufacturers’ strategy to increase market share.

  • In August, 2021, Smith & Nephew launched the WEREWOLF FASTSEAL 6.0 Haemostasis Wand for orthopaedic reconstruction surgeons. The product uses a radio-frequency technology and is useful in reducing blood loss and procedure time.
  • Stryker partnered with Texas Health Hospital in June 2021 to assist in eliminating the harm to healthcare providers and patients inside the operating room from common risks such as spills, surgical smoke, retained surgical sponges, etc.
  • On 21 May, 2019, Datt Mediproducts’ introduced a new product called VelNez. It is a biodegradable and biocompatible nasal dressing that received a U.S. patent.
  • On September 12, 2017, Medtronic introduced a new type of product in the field of ENT called procedures stealth station ENT. It uses proprietary electromagnetic technology to target anatomy during an ENT surgery to track the position of the instrument during the procedure.

Greater the demand for active products, stronger the pipeline, which will lead to increased demand. Leading industry players are focusing on the development and launch of technologically advanced biodegradable dressings. There are huge opportunities for market players to invest in this space.

Similarly, recent developments related to biodegradable dressing manufacturing have been tracked by the team at Persistence Market Research, which are available in the full report.

Biodegradable Dressings Industry Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia East Asia
  • Oceania
  • Middle East & Africa

Key Countries Covered

  • US
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Benelux
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Indonesia
  • Malaysia
  • Singapore
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Turkey
  • Egypt
  • North Africa
  • South Africa
  • GCC Countries

Key Market Segments Covered

  • Product
  • End User
  • Region

Key Companies Profiled

  • Aegis Lifesciences Pvt. Ltd.
  • Medtronic
  • Datt Mediproducts Pvt. Ltd.
  • Stryker
  • Huizhou Foryou Medical Devices Co, Ltd
  • BenQ Materials Corp
  • EON Meditech Pvt. Ltd
  • Axio Biosolutions Pvt. Ltd.
  • Divine Medicure Technology
  • Cenefom Corp.
  • Smith – Nephew
  • Baxter
  • Reliance Life Sciences
  • Hangzhou Singclean Medical Product Co. Ltd.

Pricing

Available upon Request

Key Segments Covered in Biodegradable Dressings Industry Research

By Product

  • Polyvinyl Alcohol (PVA) Foam
  • Hyaluronic Acid
  • Carboxymethyl Cellulose
  • Fibrin Glue
  • Microporous Polysaccharide Hemisphere
  • Chitosan

By End User

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers

Enquiry before Buying

  • Is the market research conducted by Persistence Market Research?

    Yes, the report filled with biodegradable dressing market insights has been compiled by expert analysts of Persistence Market Research, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

  • What research methodology is followed by Persistence Market Research?

    Persistence Market Research follows a methodology that encompasses the demand-side assessment and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

  • Who are the respondents for primary research?

    Persistence Market Research speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    Persistence Market Research conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

  • Is a sample of this report available for evaluation?

    Yes, you can request a sample, and it will be sent to you through email.

  • How can I buy this report?

    Persistence Market Research provides a secure online payment system to buy reports seamlessly. You can buy the report securely and safely.

Media Release

- FAQs -

Global market value for biodegradable dressings is US$ 197.1 Mn in 2021.
The market is expected to reach US$ 285.8 Mn by 2031, while expanding at a CAGR of 3.8%.
From 2016-2020, the market expanded at 2.9% CAGR.
Exponential increase in cancer research studies, rise in epistaxis cases, and growing market consolidation activities by manufacturers for expansion are major trends across the landscape.
The U.S., Germany, China, Japan, and U.K. are the top 5 countries driving most demand for biodegradable dressings.
North America is one of the key markets for biodegradable dressings, with the U.S. expected to account 90.3% share by 2031.
Demand for biodegradable dressings in Europe is expected to register a 3.2% CAGR during the forecast period.
Korea’s market is set to offer lucrative growth opportunities and exhibit a healthy 5.8% CAGR, while the Japan market is expected to experience 6.6% CAGR through 2031.
Global market value for biodegradable dressings is US$ 197.1 Mn in 2021.
The market is expected to reach US$ 285.8 Mn by 2031, while expanding at a CAGR of 3.8%.
From 2016-2020, the market expanded at 2.9% CAGR.
Exponential increase in cancer research studies, rise in epistaxis cases, and growing market consolidation activities by manufacturers for expansion are major trends across the landscape.
The U.S., Germany, China, Japan, and U.K. are the top 5 countries driving most demand for biodegradable dressings.
North America is one of the key markets for biodegradable dressings, with the U.S. expected to account 90.3% share by 2031.
Demand for biodegradable dressings in Europe is expected to register a 3.2% CAGR during the forecast period.
Korea’s market is set to offer lucrative growth opportunities and exhibit a healthy 5.8% CAGR, while the Japan market is expected to experience 6.6% CAGR through 2031.

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