Pressure ulcers treatment market is estimated to witness high growth, owing to increasing geriatric population and rising technological advancements
Pressure ulcers treatment market is estimated to be valued at USD 5.54 Bn in 2024, exhibiting a CAGR of 6% over the forecast period 2024-2030. Rising geriatric population who are prone to pressure ulcers due to prolonged pressure on bony prominences can drive the market growth. Furthermore, advancement in treatment technologies such as advanced wound care dressings, negative pressure wound therapy, and hyperbaric oxygen therapy are also driving the market growth.
Market Dynamics:
The pressure ulcers treatment market is primarily driven by the increasing geriatric population and rising incidences of pressure ulcers. As per statistics, geriatric population aged 65 years and above is expected to reach 1.5 billion by 2050 from 703 million in 2019. Elderly people are more prone to develop pressure ulcers owing to reduced mobility and decreased tissue tolerance. Additionally, there has been a significant rise in incidence rates of pressure ulcers in developed as well as developing nations. According to National Pressure Ulcer Advisory Panel, the annual cost of treating pressure ulcers in the U.S is estimated to be US$ 9.1-11.6 billion. Growing healthcare costs associated with treatment and management of pressure ulcers is compelling governments worldwide to increase funding for preventive measures.
Increasing Prevalence of Pressure Ulcers
Increasing prevalence of pressure ulcers can drive the pressure ulcers treatment market growth. Pressure ulcers commonly occur in elderly patients or individuals with limited mobility. With rising life expectancy globally, there has been increase in population of elderly people. According to WHO, the number of people aged 60 years and older is expected to double between 2017 and 2050, reaching around 2.1 billion globally. Elderly patients are more susceptible to develop pressure ulcers due to reduced mobility and thin skin. Increasing prevalence of chronic diseases such as diabetes, obesity and neurological disorders which limit mobility is contributes to rising caseload of pressure ulcers. Chronic conditions impair blood circulation in the skin, making it more prone to damage. According to the National Pressure Ulcer Advisory Panel, about 2.5 million people in the U.S. suffer from pressure ulcers annually. Growing geriatric population combined with rising disease burden is expected to significantly boost demand for advanced treatment solutions for pressure ulcers in the near future.
Growing Awareness About Treatment Options
Increased awareness among patients and caregivers about various treatment options for pressure ulcers can also drive the market growth. Earlier, pressure ulcers were considered an inevitable consequence of immobilization or advanced age. However, growing health education initiatives by governmental and non-profit organizations have increased awareness that most pressure ulcers can be prevented or treated with appropriate medical intervention. People are now more informed about risk factors, signs & symptoms of pressure ulcers.
People also know basic prevention methods like repositioning, support surfaces and moisturizer application. In developed markets, awareness has compelled more patients to seek timely medical treatment rather than neglecting minor wounds. The treatment-seeking behavior will continue to improve in developing nations through targeted awareness programs. Higher awareness translates to increased demand for advanced wound dressings, skin grafts and other medical products used in pressure ulcer management.
Budget Constraints
Budget constraints posed by high treatment costs can hamper the pressure ulcers treatment market growth. Pressure ulcers, especially severe late-stage ones, require long-term multi-modal treatment approaches involving specialized wound care products, regular dressing changes, debridement procedures and sometimes skin grafts as well. All these therapies have significant material, equipment and labor costs associated with them. In many countries, the overall healthcare expenditure is limited, and this restricts reimbursement for expensive pressure ulcer treatments. This creates an affordability issue for a large proportion of patients. Even in developed nations with universal insurance, co-pays and deductibles deter individuals from seeking prompt and ongoing medical management. The high costs of innovative technologies like larval therapy and growth factor products also limit their adoption. Ensuring equitable access to essential wound care remains a pressing challenge for the market.
Shortage of Skilled Workforce
Shortage of trained healthcare professionals equipped to handle complex pressure ulcer cases can hamper the market growth. Pressure ulcer management requires a multi-disciplinary approach with involvement of specialized nurses, doctors, dieticians and physical therapists. However, many facilities face deficits in the number of wound care specialists and nurses with expertise in wound assessment and dressing skills. Skill gaps are more prominent in under-resourced areas and developing countries. Even developed markets report a lack of advanced training opportunities for professionals in pressure ulcer prevention and management. The ongoing nursing shortage further exacerbates the workforce constraints. With growing caseloads and complexities and limited workforce availability, the quality of pressure ulcer care suffers in many healthcare settings currently. Absence of sufficient training hampers uptake of new technologies.
Link: https://www.coherentmarketinsights.com/market-insight/pressure-ulcers-treatment-market-5159
Key Developments:
- In March 2021, Smith+Nephew, a medical technology company, announced results of a real-world study conducted in Spain, demonstrating that transitioning to ALLEVYN LIFE Foam Dressings notably decreased dressing change frequency and weekly dressing expenses, alongside enhancing treatment satisfaction for both clinicians and patients in a community environment
- In February 2021, Axis Biosolutions, a deep-science medical technology, obtained European CE mark approval for MAxiCel, an advanced wound care product designed for various chronic wounds, such as pressure ulcers
- In September 2020, Integra LifeSciences Holdings Corp., a medical technology company, announced a definitive agreement to divest its Extremity Orthopedics business to Smith+Nephew
- In March 2020, Smith+Nephew introduced the PICO 14 Single Use Negative Pressure Wound Therapy System specifically designed for application on high-risk surgical patients
- In February 2020, Integra LifeSciences Holding Corporation launched AmnioExcel Plus Placental Allograft Membrane, its newest wound care solution, aimed at bolstering soft tissue repair
Key Players: Smith & Nephew PLC, Integra LifeSciences Holding Corporation, Baxter International Inc. (Hill-Rom Holdings Inc.), Molnlycke Health Care AB, Cardinal Health, Essity Aktiebolag, 3M Company, B. Braun Melsungen AG, ConvaTec Group PLC, Coloplast Group, Hill-Rom Holdings, Inc., Medtronic plc, Organogenesis Inc., Invacare Corporation, Talley Group Ltd, Permobil AB, GF Health Products, Inc.
