by The skin barrier products market is estimated to be valued at US$ 1,063.94 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: –
Skin barrier products are medical devices that help protect vulnerable skin areas from external agents like moisture, friction and shear by creating an occlusive barrier over the skin. They are mainly used for patients suffering from conditions like incontinence, moisture associated skin damage, intertrigo and pressure ulcers. Common skin barrier products include barrier creams, protective sheets/dressings, protective films and sealants.
Market Dynamics: –
The growth of the skin barrier products market is majorly driven by the rising prevalence of skin conditions like acne, psoriasis, eczema and pressure ulcers across the globe. According to the American Academy of Dermatology Association (AADA), around 50 million Americans suffer from acne each year. Similarly, the National Psoriasis Foundation estimates that around 125 million people worldwide are affected by psoriasis. The increasing risk of developing such skin conditions due to factors like changes in lifestyle and climate is expected to boost the demand for skin protective and therapeutic products over the forecast period.
Furthermore, growing geriatric population globally is also expected to aid market growth. Older population is more prone to develop pressure ulcers, musculoskeletal pains and skin injuries due to age-related decreased mobility and skin sensitivity. According to UN estimates, the world’s population aged above 60 years is projected to double from 12% to 22% between 2015 and 2050. Thus, rising elderly population demographic will significantly contribute to the utilization of skin barrier products for wound and pressure ulcer prevention and post-injury protection.
SWOT Analysis: –
- Strength: – Skin barrier products have wide application in wound management with three type of products- film and wound dressings, adhesive removers, and skin protectants. Their ability to protect skin from irritants and promote wound healing are key strengths.
- Weakness: – Low product differentiation and availability of alternatives can weaken market position of certain brands. High production costs and regulatory compliance requirements increase operating expenses.
- Opportunity: – Growing geriatric population and rising prevalence of chronic wounds and skin disorders widen market opportunities. Advances in materials and delivery technologies will enhance product efficacy.
- Threats: – Stringent regulatory environment and reimbursement policies pose challenges. Economic slowdowns can decrease healthcare spending on these products.
Key Takeaways: –
The Global Skin Barrier Products Market Demand is expected to witness high growth, exhibiting a CAGR of 4.4% over the forecast period, due to increasing incidence of chronic wounds and skin disorders.
Regional analysis: –
North America dominates the global market and is projected to retain its leading position over the forecast period. High healthcare expenditure and sophisticated healthcare infrastructure have ensured early adoption of advanced skin barrier products. Asia Pacific is poised to exhibit the fastest growth owing to rising medical tourism, healthcare reforms & improving access to treatment.
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. 3M dominates the market due to wide distribution network and innovative offerings.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
