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According to a new report by EMR titled, ‘Global Surgical Dressing Market Report and Forecast 2022-2027’, the market attained a value of around USD 4.1 billion in 2021. The industry is further expected to grow at a CAGR of 5.8% between 2022 and 2027 to reach a value of over USD 5.8 billion by 2027.
The surgical dressing industry is driven by the increasing application of surgical dressing in diabetes-based and cardiovascular disease-based surgeries. The surgical dressing is of immense importance, as it prevents the wound from further damage and protects bacterial contamination of the same. Therefore, the rising cases of injuries which may lead to chronic wound, growing prevalence of ulcers and burns, and the rising cases of diabetes and cardiovascular disorders are likely to be the major driving factors for the surgical dressing industry growth.
In August 2021, Medtronic PLC (NYSE: MDT) announced the complete acquisition of Intersect (ENT (NASDAQ: XENT), a global medical technology leader dedicated to towards the transformation of patient care. Under this acquisition, the two companies are likely to combine their products and aim towards bolstering the surgical facilities in hospitals and strengthen their portfolios. Meanwhile in January 2021, Smith+Nephew. (NYSE: SNN) announced the acquisition of Extremity Orthopaedics business of Integra LifeSciences Holding Corporation (NASDAQ: IART) for $240 million.
In terms of region, North America is likely to account for a significant share in the market, owing to the rising healthcare expenditure in the United States and Canada. The rising cases of chronic wounds and trauma wounds in the countries has led to a significant increase in demand for surgical dressing. Over the forecast period, the advancements in the home healthcare sector in the region is anticipated to bolster the surgical dressing industry growth.
Market Breakup by Product, Application, End-Use, and Region:
Key Findings of the Report:
Key Offerings of the Report:
The major players in the global surgical dressing market are Medline Industries, Inc., Medtronic, Smith+Nephew., 3M Co., Cardinal Health, Inc., and Mölnlycke Health Care AB, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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