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Combat Dressing is Estimated to Witness High Growth Owing to Increasing Defense Expenditure

Alex Huge
Combat Dressing is Estimated to Witness High Growth Owing to Increasing Defense Expenditure

Combat dressing commonly known as gauze dressing are a specialized compression dressing which are specifically designed for heavy bleeding wounds on the battlefield. They can easily pack a wound and stop bleeding within minutes when applied with adequate pressure. Combat dressing kits usually contain bandages, trauma pads, chest seals, tourniquet etc and are used by armed forces, law enforcement and military personnel to provide first aid in case of bullet or stab wounds during combat or skirmishes.

The global combat dressing market is estimated to be valued at US$ 5.53 Mn in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Increasing defense expenditure by large economies such as the United States, China and India is one of the major driverpropelling the growth of the global combat dressing market size. For instance, according to Stockholm International Peace Research Institute (SIPRI), the global military expenditure witnessed an increase of 2.6% in real terms to reach US$ 2.1 trillion in 2021. Additionally, ongoing geopolitical conflicts and terrorist activities worldwide have necessitated nations to strengthen their defense capabilities, which has spurred demand for advanced combat dressing over the forecast period.

The driver mentioned above is further compounded by increasing incidence of violent activities, wars and armed conflicts across nations. According to the World Bank, over 1 billion people live in fragile and conflict-affected situations, making it even more crucial for defense forces to be well-equipped with best-in-class combat dressing kits for providing immediate relief and stabilizing casualties.

SWOT Analysis

Strength: Combat Dressing offers quick and effective ways to stop bleeding. They are lightweight and easy to carry allowing quick intervention in emergency situations. Their sterile and adhesive nature provide effective first aid for wounds.

Weakness: Combat Dressings have limited applications beyond controlling bleeding. They do not treat injuries and require follow up medical care. Their adhesive backing can sometimes cause additional pain when removed.

Opportunity: Growing demand for first aid and emergency response products from military and law enforcement agencies. Increasing training and preparedness initiatives are raising awareness about effective bleeding control measures.

Threats: Availability of alternative wound dressing products. Changing regulations regarding product specifications and ingredients. Dependence on government and institutional tenders.

Key Takeaways

The global combat dressing market is expected to witness high growth over the forecast period of 2023 to 2030. Rapid militarization across globe coupled rising defence budgets is expected to drive demand.

Regional analysis shows that North America currently dominates market share owing to large defense budgets and forward deployment of troops. The Asia Pacific region is expected to be the fastest growing market with increased defense modernization programs in major countries.

Key players operating in the combat dressing market are Baker Tilly, BDO, CROWE, Deloitte, Ernst & Young Global Limited, Grant Thornton, KPMG, Mazars, PWC, RSM International, and TMF Group. These companies are focusing on developing versatile and easy to use products aligned with changing needs of end users. Expansion into emerging regions through partnerships is also a key focus.

Get more insights on this topic: https://www.trendingwebwire.com/combat-dressing-market-size-and-outlook-2023-2030/

Alex Huge
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