Global IV Dressings Market, By Product Type (Transparent and Translucent), By Application (Reusable and Disposable) and By End User (Hospitals, Clinics and Others (Ambulatory Surgical Center etc.)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 794.7 million in 2023 and is expected to exhibit a CAGR of 5.3% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on adopting growth strategies such as product launches which will drive the global IV dressings market. For instance, in March 2022, Cardinal Health, a healthcare service company, launched BeneHold CHG adhesive technology, which helps reduce the risk of surgical site contamination with organisms typically associated with surgical site infections (SSIs). In addition to preparing a patient's skin for surgery, incise drapes are utilized as a method of helping protect the wound from horizontal bacterial contamination during surgery, which may be present on the patient's surrounding skin.
Global IV dressings Market– Impact of Coronavirus (COVID-19) Pandemic
The coronavirus, or COVID-19, outbreak started in Wuhan, China, in 2019 and has spread across the world, affecting various industries such as automation, healthcare, and others globally. The economies of various countries, such as India, Italy, Bangladesh, Sri Lanka, the U.K., the U.S., Morocco, and others, were disrupted due to lockdowns implemented by governments to combat the spread of coronavirus since 2020. Lockdowns or shutdowns were imposed in many countries in Europe that negatively impacted the economy of the region’s private healthcare sector.
These lockdowns resulted in the closure of industrial establishments, except for those manufacturing essential commodities, and disruptions in the supply chain of products such as wound care products. Thus, the COVID-19 pandemic hampered the economy by directly affecting the production and demand of advanced wound care products, by creating disruptions in distribution channels, and by having a financial impact on firms and financial markets. Supply chain and manufacturing activities in Europe and other regions were disrupted due to lockdowns. Countries, such as Belgium, the Netherlands, Germany, Ireland, Denmark, and others, faced problems with the transportation of raw materials.
Furthermore, according to Wounds International, also known as the International Wound Infection Institute (IWII), in 2021, the use of telemedicine increased during the pandemic in order to enable communication between healthcare providers and patients and their caretakers through video-calling and sharing photographs of wounds.
Global IV dressings market: Key Developments
In June 2022, Smith+Nephew, a medical device company announced the inauguration of a new research and development and manufacturing facility for its advanced wound management franchise on the outskirts of Hull, U.K.
In January 2022, Convatec Group Plc, a medical device company announced the acquisition of Triad Life Sciences Inc., a medical device company that develops biologically derived innovative products to address unmet clinical needs in surgical wounds, chronic wounds, and burns.
In March 2021, Entrotech Life Sciences Inc., a material science company, expanded its suite of Prevahex antimicrobial dressings to include a transparent securement dressing for central venous access devices (CVAD), as well as a new-and-improved version of its peripheral IV (PIV) securement dressing. Both products incorporate the same one-of-a-kind Prevahex technology utilizing pure chlorhexidine (CHX), which provides rapid and broad-spectrum protection at wound and catheter sites.
Browse 35 Market Data Tables and 29 Figures spread through 162 Pages and in-depth TOC on “Global IV dressings Market”- Forecast to 2030, Global IV dressings market, By By Product Type (Transparent and Translucent), By Application (Reusable and Disposable) and By End User (Hospitals, Clinics and Others (Ambulatory Surgical Center etc.)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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