Collagen Dressings Market Trends

Growth Drivers

• Increasing Number of Road Accidents and Serious Injuries – According to the World Health Organization, in road traffic accidents, nearly 1.3 million people die each year. A staggering 20 to 50 million people suffer wound injuries, and many of them result in disabilities.
• There is a high rate of road traffic injuries throughout the world. Open wounds are a common result of road accidents, which create tears in the skin. About 85% of all injuries are caused by distortions, fractures, open wounds, concussions, and contusions. Therefore, the rising cases of road accidents and serious injuries are expected to enlarge the global collagen dressings market size during the forecast period.
• Rising Exports of Sterile Collagen Sheets Worldwide- According to the statistics by the International Trade Center (Trademap), the global value of exports of sterile surgical dressings in the year 2021 was recorded to be USD 5,007,963 thousand, which was an increase from USD 4,502,707 thousand in the previous year.
• Increasing Global Healthcare Expenditure - According to World Bank data, current healthcare expenditures rose from 9.7% of GDP in 2018 to 9.83% in 2019. This data includes the consumption of healthcare goods and services each year.
• Growing Elderly Population Across the Globe - Chronic wounds are more common among people over 65 years of age. This factor is expected to propel the demand for collagen dressings during the forecast period. The World Bank has recently released data showing that at the end of 2021 there were 747,238,580 geriatric people worldwide.
• Surge in Number of Surgical Procedures Worldwide- It was observed that the number of major surgeries performed each year worldwide has grown to 300 million. Approximately 42 to 53 million surgeries are performed in the United States and 25 million in Europe every year.

Challenges

• Collagen Dressing Storage Complexities
• There are particular complexities with the collagen dressing storage such as, these dressings are non-adherent and last for a short period. Additionally, they require a particular temperature to preserve their effectiveness, hence, all these factors are estimated to hamper the growth of the market over the forecast period.
• High Production Cost Associated with The Product
• Market Availability of Low-Price Wound Dressings