Pressure Ulcers Treatment Market To Be Valued at US$ 7,108.0 Mn By 2028 - Coherent Market Insights

Pressure ulcers are a type of injury that breaks down the skin and underlying tissue when the skin is placed under constant pressure for a certain period. They form due to lasting pressure on specific areas of the body. They can develop anywhere, but the bony parts of heels, knees, elbows, ankles, and tailbone are often more susceptible. People most at risk of bedsores have medical conditions that limit their ability to change positions or cause them to spend most of their time in a bed or chair. The treatment of ulcers is planned with an aim to reverse the factors that have originally caused the ulcer. Bedsores can develop over hours or days. Most sores heal with treatment, but some never heal completely.

Market Statistics:

The global pressure ulcers treatment market is estimated to account for US$ 4,940.5 Mn in terms of value by the end of 2022.

Drivers:

Increasing prevalence of chronic disease around the world is expected to propel growth of the global pressure ulcers treatment market. Diabetes increases the risk of pressure ulcers because of its association with nerve damage (neuropathy) and poor circulation. In general, people who have diminished sensation may not notice the constant pressure on their tissues and thus not feel the need to shift position. Thus, with the increasing prevalence of diabetes, the incidence of pressure ulcers is also increasing. According to the International Diabetes Federation (IDF), over 537 million adults (20-79 years) are living with diabetes. The total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045.

Opportunities:

Growing geriatric population across the globe is expected to offer lucrative opportunities for player in the global pressure ulcers treatment market. The geriatric population is more prone to the development of pressure ulcers that are also known as bedsores. According to the World Health Organization (WHO), the number and proportion of people aged 60 years and older in the population is increasing. By 2030, 1 in 6 people in the world will be aged 60 years or over, and by 2050, the world’s population of people aged 60 years and older will double (2.1 billion). Thus, with the growing geriatric population, the incidence of pressure ulcers is also increasing, thereby increasing demand for pressure ulcers treatment.

Restraints:

High cost of wound care products and lack of awareness among people about pressure ulcers are some major factors expected to hamper the growth of the global pressure ulcers treatment market. Since these ulcers can be prevented with proper treatment/management, there is a need for awareness campaigns to raise awareness. The development of pressure ulcers can interfere with the patient's functional recovery, may be complicated by pain and infection, and can also contribute to longer hospital stays. Moreover, according to the U.S. Department of Health and Human Services, pressure ulcers cost US$ 9.1-11.6 billion per year in the United States. Cost of patient care ranges from US$ 20,900 to 151,700 per pressure ulcer.

Global Pressure Ulcers Treatment Market - Impact of Coronavirus (Covid-19) Pandemic

The pandemic has accelerated the demand for pressure relief devices worldwide due to a rise in cases of obesity & overweight patients due to physical inactivity. Moreover, strict lockdowns (implemented to curb the spread of the novel coronavirus) resulted in the increased sedentary lifestyle leading to several lifestyle disorders such as cardiovascular disease and obesity, which has resulted in the increased demand for pressure relief devices across the globe. For instance, in March 2020, Hill-Rom Holdings, Inc. announced that the company is focused on doubling the production of critical care products. 

To know the latest trends and insights prevalent in the Global Pressure Ulcers Treatment Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/pressure-ulcers-treatment-market-5159

Key Takeaways:

The global pressure ulcers treatment market was valued at US$ 4,653.0 Mn in 2021 and is forecast to reach a value of US$ 7,108.0 Mn by 2028 at a CAGR of 6.2% between 2022 and 2028.

Among product type segment wound care devices segment held dominant position in the global pressure ulcers treatment market in 2021, accounting for 48.8% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Market Trends:

1. Frequent approvals and launches of novel products is expected to boost growth of the global pressure ulcers treatment market. For instance, in February 2021, Axis Biosolutions received European CE mark approval for the advanced wound care product, MAxiCel, which is used in several chronic wounds, including pressure ulcers.​
2. Increase in incidence of pressure ulcers is expected to augment growth of the global pressure ulcers treatment market. For instance, every year, more than 2.5 million people in the United States and 0.7 million people in the United Kingdom are affected by pressure ulcers.

Competitive Landscape:

Major players operating in the global 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.

Recent Developments:

In February 2021, Hillrom acquired the contact-free continuous monitoring technology from EarlySense for terms, including a cash consideration of USD 30 million.

In September 2019, Smith+Nephew launched the PICO 7Y in the U.S., a portable single use negative pressure wound therapy system to treat two wounds simultaneously.

In November 2018, Hill-Rom and Select Medical launched the Flexi by Pure Air Advances Crossover mattress that aims to reduce the burden of pressure ulcers.