08 Sep The advanced wound care market set to experience healthy growth
According to a recent report from Data Bridge, the advanced wound care market is set to be worth more than $15 billion by 2029, up from $9.4 billion in 2021. This huge growth (at a CAGR of 6.8 percent from 2022) reflects the rising prevalence of chronic wounds around the world, largely due to the growing ageing population and increasing cases of non-communicable diseases, like diabetes and obesity.
Advanced wound care encompasses the treatment for acute and chronic wounds, including ulcers, burns, and post-operative wounds, through medical interventions like dressing, therapy devices, and biologics. A significant contributor to the forecasted market expansion is medical technology. Therapy devices – like the geko™ device – have the potential to offer alternative and adjunctive treatment methods to the current standard of care.
Advancements in healthcare delivery are helping people to live longer lives. But the growing ageing population is putting greater strains on healthcare services that now need to treat more patients living with conditions that typically develop and worsen with age – like chronic wounds.
Wound Source describes a chronic wound as “one that has failed to progress through the phases of healing in an orderly and timely fashion and has shown no significant progress toward healing in 30 days”. Chronic wounds and recurring wounds require ongoing medical attention from healthcare professionals, often at specialty clinics.
The impact of COVID-19 on wound
The COVID-19 pandemic caused major disruptions to healthcare delivery, particularly in non-urgent clinics, like wound clinics, which either slowed down or temporarily closed. This led to a shift towards patient self-management in the home setting, which has been reported to have negatively impacted the healing process and increase the rates of recurrence for some patients.
A surge in therapy devices that can support patient self-management in the home setting may become more popular as demand for simple, non-invasive, and convenient solutions that require less time and resources for healthcare systems in a post-COVID world grows.
Empowering technology in wound care
Medical technology (MedTech) is set to play a major role in the growing wound care market. Neuromuscular electrical stimulation (NMES) devices, like the geko™ device, have been shown to benefit the management of venous leg ulcers – which make up 90 percent of all leg ulcer cases.
Study data demonstrates the geko™ device stimulates substantial lower limb venous and arterial blood flow increase in patients with venous leg ulcers (VLUs) – an important component of VLU management.
MedTech is contributing to the thriving advanced wound care market by delivering enhanced care to wound patients while supporting healthcare systems as they bounce back in a post-pandemic world.
Read more about the geko™ device wound applications here.