by Skin barrier products are medical devices used to protect damaged or fragile skin from external irritants and contaminants. They form a physical barrier over skin areas affected by conditions such as pressure injury, moisture lesion, minor burns or surgical wounds. Common skin barrier products include protective creams, wound dressings, tapes and pastes. They prevent infection, further skin damage and facilitate healing.
The global Skin Barrier Products Market is estimated to be valued at US$ 1063.94 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing prevalence of skin disorders and increasing cases of chronic wounds are expected to drive the growth of the global skin barrier products market over the forecast period. According to American Academy of Dermatology, over 100 million Americans have some type of skin disease. Growing aging population and modern lifestyle factors are leading to rising incidences of chronic wounds. This is anticipated to fuel the demand for skin barrier products for wound management. Furthermore, technological advancements in wound care treatment and dressing materials are also projected to propel the market growth. However, high cost of advanced skin barrier products may hamper the market expansion.
SWOT Analysis
Strength: Skin Barrier Products provide protection to damaged skin and wounds. They form a protective sealing over wounds to prevent infections. Also, advance products ingredients help in faster healing of wounds.
Weakness: Some skin barrier products can cause skin irritation in patients with very sensitive skin. The adhesive material used in sealing can also cause discomfort while removal.
Opportunity: Increasing prevalence of lifestyle diseases such as diabetics provides scope for growth of the market. Growing elderly population who are prone to injuries and wounds also offers opportunities.
Threats: Development of alternative treatment methods can challenge the market. stringent regulatory approval process increases cost of new product development.
Key Takeaways
The global Skin Barrier Products Market Share is expected to witness high growth, exhibiting CAGR of 4.4% over the forecast period, due to increasing prevalence of skin ailments and rising cases of chronic wounds.
Market size: The Skin Barrier Products market size for 2023 is US$ 1063.94 Mn. North America dominates the market currently due to growing diabetic population demanding better wound care management. The Asia Pacific region is expected to exhibit fastest growth over the forecast period owing to rising healthcare standards and growing medical tourism in the region.
Key players: Key players operating in the Skin Barrier Products market are 3M, ConvaTec Inc., Coloplast Corp., Salts Healthcare, MEDLINE, Medicareplus International, Essity Medical Solutions, Cardinal Health, Smith & Nephew Plc., Safe n Simple, B Braun Medical Inc., Hollister Inc., and DermaRite Industries, LLC. These players are focusing on new product launches and geographical expansion to strengthen their market position.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
