The global pressure ulcer (PU) treatment market is expected to gain momentum from the rising adoption of innovative wound care devices for treatment. As per the Agency for Healthcare Research Quality (AHRQ), in the U.S., more than 2.5 million people get affected by pressure ulcers annually. It proves that the increasing geriatric population, coupled with upsurging cases of PU would affect the market positively in the coming years.
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This information is provided by Fortune Business Insights™ in a recent study, titled, “Pressure Ulcer (PU) Treatment Market Size, Share Industry Analysis, By Ulcer Type (Stage 1, Stage 2, Stage 3, Stage 4), By Product (Wound-care Dressings, Wound-care Devices, and Others), By End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Homecare Settings), and Regional Forecast, 2019-2026.” The study further states that the pressure ulcer treatment market size is projected to reach USD 11.23 billion by 2026, thereby exhibiting a CAGR of 6.7% during the forecast period. However, it stood at USD 6.69 billion in 2018.
Rising Patent Pool Worldwide to Augment Growth
In the 20th century, a pressure ulcer was considered to be one of the costliest and the most physically debilitating complications. Factors, such as mobility problems, sedentary lifestyle, advancing age, and other similar health issues are mainly responsible for surging the incidence of PU worldwide. The National Center for Biotechnology Information (NCBI) declared that in 2018, the prevalence of pressure ulcers in Ethiopia, Turkey, and Brazil was 16%, 10.4%, and 12.7%, respectively. This indicates that there is a large patient pool seeking medical help across the globe. In addition to that, rising healthcare expenditure in the developing economies, as well as increasing awareness campaigns regarding the availability of various treatment options, would fuel the pressure ulcer treatment market growth during the forthcoming years.
Rising Improvements in Healthcare Facilities to Favor Growth in North America
North America acquired USD 2.75 billion pressure ulcer treatment market revenue in 2018 and is anticipated to grow significantly in the coming years owing to the rising number of novel product launches, improvements in healthcare facilities, and expensive nature of products. Europe is set to remain in the second position on account of the increasing prevalence of PU and the rising aging population.