The global wound care market is expected to reach $20.4 billion by 2021 from $17.0 billion in 2016, growing at a compound annual growth rate of 3.6 percent from 2016 to 2021, according to a report from MarketsandMarkets.
“Diabetic foot ulcers and pressure ulcers are types of chronic wounds, affecting millions of people around the world. The prevalence of diabetes is rising at a high rate, and various studies and statistics state that around 15 percent of people suffering from diabetes are at a risk of diabetic foot ulcers, once in their lifetime,” according to a PRNewswire news release. “Also 24 percent of diabetic foot ulcers usually progress to a stage requiring amputation of the leg/foot. Pressure ulcers are most common cause of hospitalization and longer hospital stays, reducing the mobility of the patients. Incidences of hospital-acquired pressure ulcers, and medical devices-acquired pressure ulcers are increasing at an alarming rate.”
“These factors in combination with other factors such as increasing prevalence of chronic diseases, such as cancer, HIV, peripheral artery and vascular diseases, rising percentage of geriatric population, obesity and other conditions, are responsible for the high growth of the global diabetic foot ulcers and pressure ulcers market in 2015,” according to PRNewswire.
“The global pressure relief devices market is expected to reach $4.1 billion by 2025,” according to a new study by Grand View Research Inc. “The rapidly growing number of elderly population worldwide and rising awareness about pressure ulcers through campaigns along with the increasing base of obese population are expected to drive the industry growth.”
“The incidence of pressure ulcer development has been rising since the past few years in hospital settings. According to a 2013 study by the Centers for Medicare and Medicaid Services (CMS), health care expenditure on hospital-acquired illnesses, including bedsores, has increased at a rate of 7 percent from 2000 to 2013,” Grand View Research Inc. reports.
As baby boomers age, more and more of the U.S. population becomes prone to acquiring a pressure ulcer. A high-rate of obesity is another indicator for the pressure ulcer wound care market.
“Geriatric population is prone to developing bedsores due to impaired mobility. Similarly,
obese patients are at higher risk of ulcer development as they are required to stay in hospitals for prolonged periods. The limited mobility amongst these target populations will drive growth in this industry,” according to Grand View Research Inc.
“Creating awareness about pressure ulcer development is crucial since they are avoidable with proper precautions. Various campaigns such as ‘Stop the Pressure’ have been arranged by governments to spread the awareness about pressure relief amongst patients and care providers,” according to Grand View Research Inc.
“More than 2.5 million people in the U.S. and 0.7 million people in UK are affected by pressure ulcers every year.”