Pressure Ulcers Treatment Market: Increased Prevalence of Chronic Pressure Ulcers Propels Market toward Growth
Monitoring and Prevention Protocols to Become an Integral Part of Pressure Ulcers Treatment Options
A substantial rise in the elderly population living with disabilities and the growing incidence of hospital-acquired pressure ulcers have been the primary driving engines of the pressure ulcers treatment landscape. While a wide range of innovative wound care devices, dressings, and therapies are offered by various stakeholders, the high financial cost of the management and treatment of pressure ulcers is becoming a Gordian knot for healthcare organizations, including hospitals and community health centers.
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The pressure ulcers treatment space is moving towards preventive care protocols, as the cost of treating pressure ulcers is much higher than that of preventing them. Innovative mobility monitoring systems are being adopted by healthcare centers and hospitals to improve patient experience by preventing pressure ulcers. In addition, the digital features of pressure ulcer prevention systems are gaining popularity with the advent of technologies that are bolstering digital transformation in the healthcare industry.
The global market for pressure ulcers treatment is expected to witness healthy growth with the increasing awareness about the negative impacts of pressure ulcers on patients’ health and their quality of life. The market is expected to reach a valuation of ~US$ 4.8 billion in 2019, and the adoption of digital monitoring systems in pressure ulcer prevention protocols is expected to have a significant impact on the developments in the pressure ulcers treatment market.
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Telemedicine Boosts Patient Preference for Remote Wound Care and Monitoring
As digital transformation continues to impact the healthcare industry, telemedicine is continually gaining momentum, providing care above and beyond the traditional care scenario. Research and development has led key players in the healthcare industry to come together with technology providers to create products that supplement wound care. For instance, Swift Skin and Wound, an app that is now being rolled out as a pilot test in North America, provides healthcare professionals with a way to manage and track pressure ulcers.
One of the most significant changes has been the innovation of artificial skin substitutes as an effective solution for pressure ulcers in all age groups. Focus on improved quality of life for patients has led to the current trend of holistic treatment of pressure ulcers, with skin substitutes playing an important role in effective and scar-free healing. Artificial skin substitutes have also evolved in recent times, being made from natural and artificial materials, in order to be more effective.
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Developing technology has also furthered the use of bioengineered wound dressings, with several biological substances being used in the treatment of pressure injuries and ulcers, by reducing the healing time and ramping up the healing process. This has led to major market players focusing on increasing research and development on biologics as well.
In addition to this, companies in the pressure ulcers treatment market are set to expand their geographical footprint and increase their market share through strategic mergers and acquisitions.
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Some of the developments that have shaped the landscape include:
- Smith and Nephew Plc acquiring Osiris Therapeutics specializing in regenerative medicine products, including skin and bone substitutes.
- Hill-Rom Holding Inc. acquired Voalte Inc., a leader in real-time mobile healthcare communications, strengthening the company’s portfolio and hold in the telemedicine market.
North America and Europe: Top Revenue Pockets for Market Players
The pressure ulcer treatment market has been evolving at a rapid pace in recent years, with companies adapting according to the changing technological trends in developed regions. North America and Europe accounted for ~65% of the market share in 2018, and is likely to retain this share during the forecast years. Increasing investments by market leaders in these regions, along with clinical trials and pilot tests, are contributing to the expansion of the pressure ulcers treatment market in these regions.
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The pressure ulcers treatment market in Europe is growing steadily, and occupied ~one-third share of the total revenue of the global market as of 2018. Key players in the European market are working with governmental organizations to reduce the healthcare burden on both, the governments and patients. For Instance, ConvaTec Group Plc is working with the U.K. government to improve patient outcomes, and ensure the timely and appropriate care of pressure ulcers.
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