by The pressure ulcers treatment market includes products such as wound care dressings, wound care devices, and active therapeutic agents that are used to treat pressure ulcers. Pressure ulcers, also known as bed sores or decubitus ulcers, are localized injuries that occur when soft tissue is compressed between the bone and an external surface for prolonged period of time. Pressure ulcers can range from minor skin redness to serious deep tissue injuries. The global pressure ulcers treatment market is primarily driven by the increasing risk of developing pressure ulcers due to sedentary lifestyle and rising geriatric population worldwide. The geriatric population, above 65 years of age, is more susceptible to develop pressure ulcers due to reduced mobility and weakening of skin tissues with aging.
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 4.8% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growing geriatric population globally acts as a key driver for the pressure ulcers treatment market. As per the United Nations report, the world’s geriatric population, aged 65 years and above, grew from 524 million in 2010 to nearly 703 million in 2020. By 2050, it is estimated to reach 1.5 billion. Factors such as reduced immunity, decreased mobility, and complications arising from chronic diseases make the geriatric population more prone to developing pressure ulcers. According to another driver mentioned in the heading, increasing global geriatric population is expected to drive the demand for pressure ulcers treatment products over the forecast period. Advancements in wound care technology and availability of novel treatment options such as topical agents and biologics also boost the growth of the market.
Segment Analysis
Pressure Ulcers Treatment market is segmented based on types of ulcers as stage 1, stage 2, stage 3 and stage 4. Stage 2 segment currently dominates the market with around 35% share owing to higher occurrence of such type of ulcers. Stage 2 ulcers are superficial and partial thickness skin loss involving epidermis and/or dermis. They present as an open lesion with a red bottom due to minor tissue damage. Due to limited tissue damage, treatment of such ulcers is less complex and invasive as compared to stage 3 and 4 ulcers making them more adoptable.
PEST Analysis
Political: Government policies regarding pressure ulcers prevention and treatment along with reimbursement for related medical devices and drugs play a major role. Several countries have implemented various programs to reduce occurrence of hospital acquired pressure ulcers.
Economic: Rising geriatric population worldwide increasing susceptibility to such conditions along with growing healthcare expenditure is fueling market growth. However, high costs associated may limit access to specialized treatment products in some regions.
Social: Increasing awareness regarding pressure ulcer prevention and treatment especially in community and home care settings is supporting market expansion. However, social stigma associated with such conditions discourage people from seeking timely treatment.
Technological: Advent of novel wound dressings, repositioning devices, and other products employing advanced technologies like nanotechnology and 3D printing are boosting efficient management of pressure ulcers.
Key Takeaways
The Global Pressure Ulcers Treatment Market Demand is expected to witness high growth in developing regions due to growing patient population and increasing healthcare investments. 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 4.8% over the forecast period 2023 to 2030.
Asia Pacific region is anticipated to showcase fastest growth over the forecast period supported by surging medical tourism along with expansion of healthcare infrastructure in various developing nations of the region. North America currently represents the largest regional market for pressure ulcers treatment attributed to high per capita healthcare spending and well-established reimbursement structure. Moreover, presence of leading market players along with continuous technological innovations would further aid growth of the North America pressure ulcers treatment market over coming years.
Key players operating in the pressure ulcers treatment are Emergent Biosolutions Inc., SIGA Technologies Inc., Bavarian Nordic A/S, Elusys Therapeutics Inc., Ichor Medical Systems Inc., Amgen Inc., Cleveland BioLabs Inc., Dynavax Technologies Corporation, Alnylam Pharmaceuticals Inc., and XOMA Corporation. Key players are involved in new product launches and strategic collaborations 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
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
