The combat dressing market is estimated to be valued at US$ 5.53 Mn in 2023 and is expected to exhibit a CAGR of 2.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

Combat dressing refers to sterile bandages and dressings used for management and control of bleeding in combat situations. They are generally made of bandages, gauze, adhesive tape along with a pressure dressing which helps in providing first aid treatment to wounds sustained on the battlefield. These dressing helps in stemming blood flow and preventing further blood loss until medical evacuation is possible. They are used both in active combat areas as well as during peace time training and simulations.

 

Market Dynamics:

Rising military spending across major countries is expected to be a key driver for growth of combat dressing market over the forecast period. According to Stockholm International Peace Research Institute (SIPRI), global military expenditure reached an estimated US$1.98 trillion in 2021. This rise in defense spending is enabling armed forces to better equip their soldiers with protective gears and combat medical supplies including combat dressings. Furthermore, ongoing military operations and increasing conflicts globally have augmented demand for such dressings. For instance, ongoing Russia-Ukraine war has led to surge in casualties requiring immediate medical attention which is driving need for combat dressing supplies.

 

SWOT Analysis

Strength:

- Combat dressing helps stop bleeding and protects the wound from external contamination or infection. This immediate first aid reduces mortality rates and chances of long-term medical complications.

- Modern combat dressings are advanced in terms of materials used, being waterproof, antiseptic and easy to apply even with non-dominant hand under stress.

- Growing defense budgets and training regime of armed forces globally promote higher procurement and use of combat dressings.

 

Weakness:

- Combat dressings have a limited shelf life owing to degradation of antimicrobial properties over storage time. This necessitates replaceability planning.

- Storage under extreme hot or cold conditions can compromise combat dressing's effectiveness during usage. Proper temperature-controlled logistics are required.

 

Opportunity:

- Untapped demand from law enforcement, tactical and rescue teams present an opportunity for specializing combat dressings per their contingency needs.

- Growing cases of stray attacks, poaching and terrorism also propel the civilian procurement of combat dressings for preparedness.

 

Threats:

- Availability of cheaper alternatives with doubtful quality standards act as substitutes especially in cost-sensitive developing markets.

- Environmental regulations around materials used in combat dressings may lead to reformulations increasing production costs.

 

Key Takeaways

The global combat dressing market is expected to witness high growth, exhibiting CAGR of 2.4% over the forecast period, due to increasing demand from military, law enforcement and civilian agencies. Regions with higher defense spending or unstable law & order situations exhibit above average demand growth.

 

Regional analysis

North America dominated more than 30% market share in 2023 led by large defense allocations and procurement cycles in the US and allied countries. Asia Pacific is expected to exhibit fastest growth owing to rising indigenization programs, paramilitary modernization and increasing geopolitical tensions. China, India, Japan and South Korea are projected to be the fastest growing markets.

 

Key players analysis

Key players operating in the combat dressing market are First Care Products, TyTek Group., PerSys Medical, IBC, H&H Medical Corporation, Bound Tree Medical, Z-Medica, Israeli First Aid, Celeox Medical, and Quickkare. They are focusing on developing advanced materials, customized designs and establishing supply contracts with defense forces for a stable revenue stream. The market shows a moderate level of competition with no player having more than 15-20% share. Mergers and acquisitions are common strategies adopted by players to enhance their product portfolios and geographical reach.

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https://www.rapidwebwire.com/combat-dressing-market-size-share-growth-outlook-2023/