The increasing prevalence of diabetes, especially among the global geriatric population is likely to expedite advanced wound care market trends in the years ahead. This can be credited primarily to the rising occurrence of chronic wounds resulting in limb amputations among diabetic patients. Data released by the World Health Organization (WHO) revealed that over 400 million people are affected by diabetes worldwide. Given today’s lifestyle and dietary trends the occurrences are projected to continue to escalate. Back in 2016 alone, diabetes was the seventh leading cause of death with almost 1.6 million deaths directly credited to diabetes annually.
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Although several people experience wounds, cuts, and minor scratches or ulcers, for people with diabetes, even minor wounds can lead to major consequences. Several people affected by diabetes develop wounds that never heal or do so at a slow pace. Wounds that cannot be cured pose a high risk of infection that can rapidly spread to tissues, bones or other parts surrounding the affected area, which in some cases can lead to deadly complications. These patients thus form a pivotal part of the consumer base for advanced wound care market companies.
Speaking of wound healing, it has been speculated that slow healing wounds constitute one of the most dreaded and common complications of diabetes. In the United States alone, around 15 percent of diabetic patients are estimated to get one at some point in their life, with caring costs accounting for $20 billion every year, excluding an estimation of 2 million workdays that are lost due to foot wounds that won’t heal.
Considering the major drawbacks of diabetic wounds, doctors are consistently focused on developing advanced wound care methods, specifically a slew of wound therapy devices and wound dressings, so they don’t lead to severe treatments like limb amputations. Additionally, with technological advancements in wound care, there have lately been fewer cases of amputations. For instance, a study conducted in 2012 stated that the rate of leg and foot amputations among adults affected by diabetes in the U.S. decreased by 65 percent from 1996 to 2008.
Wound dressings, encompassing myriad dressing techniques such as hydrogel dressings, foam dressings, antimicrobial dressings, and the like, form a pivotal part of the product landscape of advanced wound care market. This is primarily on account of the plethora of dressing styles available that can be individually scrutinized and used for numerous types of wounds such as venous ulcers, open wounds, burns, stalled wounds, necrotic wounds, and broken skin. Apparently, in 2017, would dressing held the highest proportion of the advanced wound care market share.
Of late, advanced wound dressings like trauma hydrocolloidal dressings are used to promote oxygen circulation in and around the wound, speeding up wound healing. Other types such as hydrocolloidal dressings that are not just latex free but also biocompatible with the patient’s body are also being deployed extensively. Powered by the massive variety of advanced dressings available and the incredible benefits delivered by these dressings for wound healing, advanced wound care market size from wound dressings is anticipated to depict a CAGR of 4.8% over 2018-2024.
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