The global Pressure Ulcers Treatment Market is estimated to be valued at US$ 5247.86 Mn 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 treatment include advance wound care products such as foam dressings, hydrocolloid dressings, film dressings, alginate dressings, hydrogel dressings, and collagen dressings. These advance wound dressings help in protecting the wound and promoting healing.
Market key trends:
One of the key trends in the pressure ulcers treatment market is the increasing inclination towards advanced wound dressings. Advanced wound dressings help in maintaining a moist wound environment that facilitates healing. Some of the advanced wound dressings available in the market include alginate dressings, hydrocolloid dressings, foam dressings, honey dressings, and silver dressings. These advanced dressings protect the wound and help promote faster healing.
SWOT Analysis
Strength: The increasing occurrence of pressure ulcers across the globe raises the demand for pressure ulcers treatment products. Wound dressings and bandages provide temporary relief and faster wound healing.
Weakness: High treatment costs associated with advanced wound care dressings, debridement products, and therapies limits their adoption in price sensitive markets. Lack of reimbursement policies in developing countries further hinders market growth.
Opportunity: Favorable government support in terms of funding and awareness campaigns presents lucrative opportunities. The presence of a robust pipeline with novel therapeutics presents an opportunity over the forecast period.
Threats: Certain regulatory challenges associated with combination products of advanced therapies restricts their adoption. Stringent approval procedures for novel therapeutics adds to development costs.
Key Takeaways
The Global Pressure Ulcers Treatment Market Share is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing geriatric population. As per the WHO, the global geriatric population is expected to grow to more than 2 billion by 2050. This growing geriatric base is more prone to develop pressure ulcers due to decreased mobility and underlying medical conditions.
Regional analysis
North America dominates the global pressure ulcers treatment market and is estimated to maintain its dominance throughout the forecast period. Favorable reimbursement policies for advanced wound care products and availability of highly technologically advanced wound care products are some of the factors responsible for North America’s large market share. The Asia Pacific is anticipated to exhibit the fastest growth rate over the forecast period owing to presence of a large patient population base and rising healthcare expenditure.
Key players
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.
