LOS ANGELES, May 04, 2021 (GLOBE NEWSWIRE) -- The Global Wound Care Centers Market is expected to grow at a CAGR of around 6.2% from 2020 to 2027 and reach the market value of over US$ 53.5 Bn by 2027.
Wound Care Centers are the healthcare facilities for the treatment of wounds that are not healing for a longer time period. The common reasons restricting the healing of wounds include surgical procedures, diabetes foot ulcers, poor blood flow, and chronic bone infection among others.
The global wound care center market is segmented on the basis of type, procedure, and geography. Based on type, the market is divided into hospitals and clinics. Based on procedure, the market is bifurcated across debridement, negative pressure wound therapy, compression therapy, hyperbaric oxygen therapy, specialized dressings, and infection control.
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By type, hospital segment is leading the market with maximum revenue share (%) and the segment is also projected to maintain its dominance throughout the forecast timeframe from 2020 to 2027. The increasing number of patient admissions in the hospitals for wound care is supporting the segmental market growth.
North America led the wound care center market with maximum revenue share (%) in the year 2019 and the region is also projected to maintain its dominance throughout the forecast period owing to its advanced healthcare infrastructure. The increasing geriatric population prone to various diseases likes diabetes, cancer, and others which restrict wound healing is further contributing to the regional market value.
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Asia Pacific is estimated to exhibit the fastest growth over the forecast period from 2020 to 2027. The major economies of the region including China and Canada are the major revenue contributors. The continuously developing healthcare infrastructure and spending power of the people in the region are bolstering the regional market growth.
Some of the leading competitors are Hologic, Mölnlycke Health Care AB, Oxyheal, RestorixHealth, Systagenix Wound Management Limited, Wound Care Advantage, Wound Care Specialists, Woundtech, and others. The major manufacturers are continuously making efforts and developing treatments for the quick healing of the patient’s wounds.
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Some of the key observations regarding the wound care centers industry include:
- In 2021, ConvaCare Clinics announced the opening of its first Asia-Pacific presence in Singapore. The new expansion is intended to provide community-level and specialized care to patients that are complementary to care received in the hospital setting. Additionally, to improve clinical outcomes and reduce the burden of healthcare costs. The clinic opening in Singapore against the backdrop in the aging population is a factor indicating the increase of chronic conditions like diabetes and cancer. Moreover, the chronic wound is the most common among citizens aged 50 and above. Furthermore, the risk of developing a foot ulcer that may require wound care is quite common in patients with diabetes.
- A disposable pressure sensor for compression bandage was developed for patients with venous leg ulcers in collaboration with the Skin Research Institute of Singapore and Tan Tock Seng Hospital. This was noted under the research program for the new development "Wound Care Innovation for the Tropics program" that, the average confinement in a hospital for each wound episode was 17.7 days, which is 2.4 times the average length of stay in Singapore-based Tan Tock Seng Hospital (TTSH).
- In 2021, Interior Health, a regional health authority in British Columbia has been working with stakeholders, clients, and neighbors to amalgamated pre-existing mental health, substance use, and outreach urban health primary care clinic primary care services under one roof.
- Sri Guru Ram Das Charitable Hospital in India has inaugurated an advanced Wound Care Centre in 2020. Dr. Hardas Singh, Orthopaedic Surgeon was the chief guest on the occasion. According to him, 15% of the population had developed foot ulcers, resulting in 45,000 lower limb amputations every year in the country.
- In 2020, National Health and Medical Research, has awarded a grant of $2.5 million to the Griffith University to develop a Centre of Research Excellence (CRE) in order to improve the delivery of acute wound care services in hospitals. The wiser Wound Care CRE is intended to focus on three high-volume, high-risk, and high-cost acute wounds occurring in hospitals; pressure injuries (PI), surgical wounds, and intravascular devices (IVD).
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