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.
Pressure ulcer treatment products include wound dressings, wound cleansers, wound fillers, therapy devices, wound assessment tools, and others. Pressure ulcers mainly occur due to excess pressure caused on skin and underlying soft tissue from bony prominences. Major causes of pressure ulcers include immobility, friction and shear force, limited nutrition, and medical comorbidities such as diabetes mellitus. Pressure ulcer treatments aim to relieve pressure, improve blood circulation, treat infection and inflammation, and promote wound healing. Various dressings such as foam dressings, hydrocolloid dressings, alginate dressings, and hydrogel dressings are available to manage different stages of pressure ulcers.
Market key trends:
The rising prevalence of pressure ulcers due to growing geriatric population is a key driver. According to the National Pressure Ulcer Advisory Panel, prevalence of pressure ulcers among geriatric population residing in long-term care facilities is estimated to be around 23%. Additionally, technological advancements in wound care dressings and emerging regenerative medicine approaches for pressure ulcer treatment are expected to gain popularity over the forecast period. For instance, products offering advanced moisture control, non-adherence to wounds, and bi-layered dressings are gaining significant traction. Further, 3D printed skin substitutes and scaffolds are being studied for accelerating wound healing in complex ulcers.
Threat of new entrants: The threat of new entrants is moderate due to the presence of stringent regulations for product approval and the highly competitive market environment.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitutes and the transparency in pricing of products.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as pressure ulcer treatment supplies have the presence of many established suppliers.
Threat of new substitutes: The threat of substitute products is high due to the availability of cost-effective generic wound care dressings and advanced wound care products.
Competitive rivalry: The competitive rivalry is intense due to the presence of major key players operating in the market.
The Global Pressure Ulcers Treatment Market Share is expected to witness high growth, exhibiting a CAGR of 6.2% over the forecast period, due to increasing prevalence of pressure ulcers and growing geriatric population.
Regional analysis: North America is expected to dominate the global pressure ulcers treatment market during the forecast period. This is attributed to the increasing prevalence of pressure ulcers and the availability of highly advanced wound care products in the region. Asia Pacific is anticipated to exhibit the fastest growth rate over the forecast period due to the large base of patient population and improving healthcare infrastructure.
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. Smith & Nephew PLC and 3M Company capture a significant share of the market.