The Colombian wound care market revenue stood at an estimated $80.1 million in 2021, which is expected to climb to $118.7 million by 2030 at a 4.5% CAGR during 2021–2030. This Latin American country majorly consumes advanced wound care products, including better wound dressings, wound therapy devices, and biologics. This is because they are more effective on chronic wounds, which last longer and are more difficult to heal.
Therefore, the rising incidence of chronic wounds is the key factor propelling the demand for wound care products in Colombia. Such wounds include diabetic foot ulcers, venous leg ulcers, pressure ulcers, and those caused by cancer, when it tears through the skin. The World Health Organization (WHO) forecasts a significant increase in the diabetes prevalence in the country from 25 million in 2011 to 40 million by 2030, thereby hinting at a substantial rise in the incidence of associated chronic wounds.
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Key Findings of Colombia Wound Care Market Report
The rising geriatric population is leading to the increasing requirement for wound care products as it is highly prone to chronic diseases and physical injuries.
The Colombian wound care market is observing the surging usage of stem cell therapy, which repairs, replaces, or regenerates cells by activating the body’s self-healing mechanism.
Much of the wound management in Colombia is done for chronic wounds, as they are more complex and take longer to heal. Moreover, traditional therapies have proven ineffective on such wounds, which is leading to evolution in wound care science.
Hospitals and specialty clinics generate the highest demand for wound care products in the country because most people with serious wounds come to these facilities for treatment.
Therefore, a major driver for the Colombian wound care market is the increase in the number of people with traumatic injuries. Road accidents, violence and burns are the key causes of traumatic injuries. As per estimates, people of the country are at a three times higher risk of dying on the road than those in other regional nations.
The highest demand for wound care products in the country is generated in Bogota, its capital and the city with the most-advanced healthcare system.
Browse Detailed Report on Colombian Wound Care Market Size, Share, Growth Drivers and Forecast Report, 2030
Throughout Colombia, the focus on enhancing healthcare is increasing, which is expected to drive the consumption of wound care products here. This is being backed by the strong economic growth, with its gross domestic product (GDP) per capita doubling during 2000–2017, as per the United Nations. Moreover, the healthcare spending in the nation rose to 7.6% of the GDP in 2018 from 6.7% in 2012. This is being seen in the rising number of healthcare facilities and increasing research and development activities in the field.
Key Colombian wound care market players are B. Braun Melsungen AG, Coloplast A/S, Essity AB, 3M Company, Smith & Nephew PLC, Paul Hartmann AG, ConvaTec Group PLC, Hollister Incorporated, and Mölnlycke Health Care AB. To gain an edge over each other, they are launching new and more-effective products for the treatment of acute and chronic wounds of all types. In addition, some are acquiring similar companies, while others are forming product development and distribution partnerships.
Market Size Breakdown by Segment
Based on Type
Wound contact layers
Wound care biologics
Wound therapy devices
Negative pressure wound therapy (NPWT) systems
Pressure relief devices
Oxygen and hyperbaric oxygen equipment
Electrical stimulation devices
Sutures and staples
Tissue adhesives, sealants, and glues
Based on Wound Type
Diabetic foot ulcers (DFUs)
Venous leg ulcers (VLUs)
Surgical and traumatic wounds
Based on End User
Hospitals and Specialty Clinics
Home Healthcare Settings
Long-Term Care Settings
Valle del Cauca
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Wound Care Market
Globally, North America is predicted to contribute the highest revenue to the wound care market during the forecast period. This is ascribed to the existence of various market players, soaring healthcare expenditure, and increasing research and development (R&D) activities in the region.
Advanced Wound Care Market
Across the globe, the advanced wound care market will exhibit the fastest growth in the Asia-Pacific region in the forthcoming years. This is credited to the surging population of geriatric people and the rising incidence of diabetes, burns and road accidents in the region. According to the observations of the World Health Organization (WHO) in 2014, around 1 million people are diagnosed with moderate and severe burns in India every year.
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