The 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 ulcers, also known as bedsores or pressure sores, are localized damage to the skin or underlying tissue that usually occurs over a bony prominence as a result of pressure or pressure in combination with shear and/or friction. Pressure ulcers can range in severity from stages 1 through 4.
Market Overview:
Pressure ulcers generally arise from prolonged exposure of skin and soft tissue to external mechanical forces such as pressure, shear, friction or a combination of these. Treatment options include regular inspection and dressing changes, special mattresses and cushions for pressure redistribution, antibiotics for wound infections, skin grafts and reconstructive surgery in severe cases. Proper treatment can help heal pressure ulcers, relieve pain and prevent further complications.
Market key trends:
Increasing prevalence of pressure ulcers due to rising aging population as well as growing number of obese and diabetic population are major factors augmenting growth of the pressure ulcers treatment market. According to the National Pressure Ulcer Advisory Panel (NPUAP), approximately 2.5 million pressure ulcers occur annually in the U.S. Increasing healthcare expenditure and improving reimbursement policies for pressure ulcer treatments will also aid in market growth over the forecast period. Development of new advanced wound dressings and products for faster healing of pressure ulcers further presents lucrative opportunity for major players in the market. However, high costs associated with advanced treatment options and lack of reimbursement policies in some countries can hinder the market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the pressure ulcers treatment market requires high capital investment and technical skills for advanced wound care products. New entrants also face challenges from established brand loyalty of existing key players.
Bargaining power of buyers: The bargaining power of buyers is high as there are many established brands offering treatment products for pressure ulcers. Buyers can comparison shop easily on the basis of product efficacy, pricing and after-sales services.
Bargaining power of suppliers: Suppliers of raw materials for pressure ulcers treatment products have low to moderate bargaining power due to availability of substitutes.
Threat of new substitutes: The threat of new substitutes is moderate as existing treatment products meet majority of healthcare needs in pressure ulcers management.
Competitive rivalry: Intense competition exists among established players owing to their global presence and wide product portfolio.
SWOT Analysis
Strength: Wide range of advanced dressing products for effective wound care management. Established brand name and trust among healthcare professionals.
Weakness: High capital requirement for R&D of new products. Strong dependence on reimbursement policies.
Opportunity: Increasing prevalence of chronic diseases leading to risk of pressure ulcers. Growing geriatric population prone to bed sores.
Threats: Price wars among low-cost generics. Stringent regulations for new product approvals.
Key Takeaways
The Global Pressure Ulcers Treatment Market Size is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing prevalence of chronic diseases like diabetes, obesity and paralysis putting individuals at elevated risk of developing pressure ulcers. Regionally, the North American market is projected to dominate with over 30% revenue share owing to growing elderly population requiring long term care and supportive reimbursement policies for advanced wound management. The Asia Pacific region is poised to emerge as a lucrative market, expanding at a robust CAGR owing to improving healthcare infrastructure in major countries like China and India.
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. The established firms maintain their stronghold through continuous innovation in dressing technology to cater disease specificity along with geographical expansion.
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