The 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, also known as bedsores or pressure sores, are localized injuries to the skin and/or underlying tissue that usually occur over a bony prominence as a result of pressure, or pressure in combination with shear and/or friction. Pressure ulcers can range in severity from patches of discolored skin to open wounds that expose the underlying tissue. The products used for pressure ulcers treatment include wound care dressings, wound filling iodines, diamond dressings, and other active therapy devices.
Market Dynamics:
The pressure ulcers treatment market is primarily driven by rising geriatric population globally. According to the United Nations, the number of individuals aged 65 years or above is projected to grow from 703 million in 2019 to 1.5 billion in 2050. Aged people are more prone to develop pressure ulcers due to reduced mobility and impaired health conditions. Hence, growing geriatric population will augment the market growth of pressure ulcers treatment over the forecast period. Another major driver for this market is increasing incidence of obesity and related conditions. Obese people are at higher risk of developing pressure ulcers due to excess pressure on certain skin areas of the body. According to WHO, globally about 13% of adults aged 18 years and above were obese in 2016.
SWOT Analysis
Strength: Pressure Ulcers Treatment Market has strong growth opportunities due to increasing aging population globally. Advanced wound care products and therapies help healing pressure ulcers effectively. Rising awareness among patients regarding advanced treatment options boosts the market.
Weakness: High cost of advanced wound care products limits their adoption in price sensitive markets. Lack of reimbursement policies for sophisticated treatment modalities in developing nations hinders market growth.
Opportunity: Growing demand for single-use negative pressure wound therapy systems create opportunities for manufacturers. Expanding applications of stem cell and smart biomaterial technologies present lucrative prospects.
Threats: Entry of generic wound care products threaten established brand names. Changes in regulatory guidelines for product approval pose challenges to market players.
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 prevalence of lifestyle diseases and aging population globally. Advanced wound care products and treatment regimens aid effective healing of pressure ulcers boosting the market.
Regional analysis
North America dominates the global market and is expected to continue its dominance over the forecast period owing to highly developed healthcare infrastructure, rising chronic disease burden, and presence of major market players in the region. Asia Pacific exhibits fastest growth over the forecast period due to increasing healthcare spending, rising medical tourism, enlarging patient pool and developing economic conditions.
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.
Major players focus on new product launches, geographical expansion and mergers to strengthen their market position.
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