The Pressure Ulcers Treatment Market is estimated to be valued at US$ 5247.86 Mn or Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Pressure ulcers are chronic wounds that occur when prolonged pressure causes lack of blood flow to the skin and underlying soft tissues. Pressure ulcers commonly occur on bony prominences like heels, elbows, hips, and shoulders. Advanced wound care dressings play a key role in effectively treating and managing pressure ulcers. These include foam dressings, hydrocolloid dressings, alginate dressings, film dressings, and hydrogel dressings. The dressings work by protecting wounds from external infectious agents, absorbing exudate, and maintaining a moist healing environment.
Market Dynamics:
The growth of the pressure ulcers treatment market is driven by rising geriatric population worldwide that is more prone to develop pressure ulcers due to reduced mobility. According to the UN report, the number of people aged 65 years and above is projected to more than double from 703 million in 2019 to 1.5 billion by 2050 across the globe. Elderly people account for over 60% of pressure ulcers.
In addition, surging incidence rates of chronic diseases like diabetes, obesity also increases the risk of developing pressure ulcers. For instance, diabetes impairs blood flow in lower extremities causing pressure ulcers around ankles and heels over time. Diabetes has reached epidemic proportions globally with over 425 million people affected in 2017 according to the International Diabetes Federation estimates. Technological advancements in wound care dressings like foam dressings impregnated with silver to prevent infection further support the market growth. Silver dressings elute antibacterial ions that kill harmful bacteria to speed up the wound healing process.
Segment Analysis
The Global Pressure Ulcers Treatment Market Size is dominated by the wound care products segment which accounted for over 40% share of the global market in 2022. Wound care products include dressings and topical agents like foams, hydrocolloid dressings, alginate dressings and hydrogels which are increasingly being used in the treatment of pressure ulcers. They are effective in maintaining a moist wound environment which promotes faster healing. Subsegments like hydrocolloid and hydrogel dressings are gaining prominence due to their ability to absorb drainage and protect wounds from bacterial infections.
PEST Analysis
Political: Stringent regulations regarding the prevention and treatment of pressure ulcers in hospitals and nursing homes in developed countries are supporting market growth. However, lack of reimbursement policies in certain developing regions poses a challenge.
Economic: Rising geriatric population suffering from limited mobility which makes them prone to pressure ulcers, increasing healthcare spending and growing awareness about advanced treatment options are major economic drivers.
Social: Higher social acceptance of wound care therapies and growing desire to improve quality of life and independence among aging populations fosters market expansion.
Technological: Developments in wound dressing materials, debridement solutions and preventive support surfaces have enhanced clinical outcomes. Smart technologies for risk prediction and remote monitoring also help in timely intervention.
Key Takeaways
The global Pressure Ulcers Treatment market is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing geriatric population and prevalence of lifestyle diseases.
North America dominated the pressure ulcers treatment market in 2022 owing to the presence of major players and frequent product launches of advanced modalities in the region. Asia Pacific exhibits lucrative prospects for market participants due to rising healthcare infrastructure, growing incidences of hospital acquired pressure ulcers and increasing medical tourism.
Key players operating in the pressure ulcers treatment market are Smith & Nephew PLC, Coloplast Group, ConvaTec Group PLC, B. Braun Melsungen AG, 3M Company, Essity Aktiebolag, Cardinal Health Inc., Cardinal Health Inc., Molnlycke Health Care AB, Hill-Rom Holdings Inc., and Integra Lifesciences Holdings Corporation, among others. These leading companies focus on new product development and mergers & acquisitions 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
About Author - Alice Mutum
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. LinkedIn