July 21, 2024

Pressure Ulcers Treatment Market Is Expected To Driven By Rising Geriatric Population

Pressure ulcers, also known as bed sores or pressure sores, are localized injuries to the skin and/or underlying tissue that usually occur over a bony prominence as a result of pressure or pressure in combination with shear and/or friction. There are various treatment options available in the market for pressure ulcers including wound care dressings, skin grafts, growth factors, and hyperbaric oxygen therapy. Wound care dressings play a vital role in the treatment of pressure ulcers as they protect the wound from external environmental conditions and help in maintaining a moist wound healing environment.

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 key trends:

 

One of the major trends observed in the pressure ulcers treatment market is the increasing adoption of advanced wound care dressings. Manufacturers are focusing on developing innovative wound dressings that accelerate wound healing and provide antimicrobial protection. For instance, in March 2021, ConvaTec Inc. received the U.S. FDA approval for its AQUACEL Ag dressing with antimicrobial silver for the management of chronic and acute wounds including pressure ulcers. Such advanced wound dressings minimize infection risk and help in faster healing of pressure ulcers.

Porter’s Analysis

Threat of new entrants: Low – Due to high capital investments and stringent regulations, threat of new entrants is low in pressure ulcers treatment market.

Bargaining power of buyers: High – Buyers have high bargaining power due to availability of generic products and treatment substitutes.

Bargaining power of suppliers: Low – Suppliers have low bargaining power due to fragmented nature of supply chains and availability of alternative suppliers.

Threat of new substitutes: Moderate – Though wound care products are substitutes, technological advancements are limiting threat of substitutes.

Competitive rivalry: High – Intense competition exists among existing players due to differentiated offerings.

Key Takeaways

 

The Global Pressure Ulcers Treatment MarketĀ  Demand is expected to witness high growth. 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.

North America is currently dominating the market due to high awareness and healthcare expenditure. Europe is also accounting for significant market share due to rising geriatric population suffering from pressure ulcers. Asia Pacific region is expected to be the fastest growing market owing to improving healthcare infrastructure, increasing healthcare expenditure and rising medical tourism. Countries like China, India are providing ample growth opportunities in the region.

Key players operating in the pressure ulcers treatment market 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. Companies are focusing on product upgradations and expansion strategies to strengthen their market presence.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it