IDTechEx: advanced wound care market to exceed $22 billion by 2030
Aug 16, 2019 Dr Nadia Tsao
IDTechEx, a market intelligence company focusing on emerging technologies, have released a new report titled Advanced Wound Care Technologies 2020-2030. In the report, IDTechEx forecasts the market for advanced wound care technologies to exceed $22 billion by the year 2030.
The main driver for this growing market is the rising incidence of non-healings wounds requiring advanced wound care technologies. Common non-healing wounds include diabetic foot ulcers (DFU), venous leg ulcers (VLU), and pressure ulcers (PU). The underlying cause of the increase in these types of wounds is the aging of the general population and the concurrent rise of lifestyle diseases such as diabetes - DFUs are formed as a result of diabetes, while VLUs and PUs are typically seen in the elderly due to weakening veins and valves in the lower leg and immobility. Overall, the United Nations forecasts that the world's elderly population will grow to 1.4 billion by the year 2030 while at the same time, the world's diabetic population has risen from 4.7% to 8.5% and is expected to rise to over 10% within the next 10 years.
Due to this increase in the number of patients requiring advanced wound care, and the increase in healthcare costs for these patients, healthcare providers and payers have started implementing technologies to remove inefficiencies from the wound care process. IDTechEx's report "Advanced Wound Care Technologies 2020-2030" reports on technologies such as skin patches and smart textiles designed to detect and prevent the formation of PUs and DFUs, smartphone apps for efficient tracking of wound healing, and small ultraportable devices designed to speed up the wound healing process and keep patients out of the hospital.
Overall, the report covers technologies across the wound care space to identify opportunities in diagnosis, treatment, and monitoring of chronic wounds. The report covers the topics and subtopics of:
- Dressings for autolytic debridement
- Pressure management
- Bacterial burden management
- Therapeutic devices
- Negative pressure wound therapy
- Biological therapies
- Extracellular matrix substitutes
- Amniotic therapies
- Wound monitoring and tracking devices
- Electronic skin patches
Readers of this report by IDTechEx will gain a comprehensive view of the technologies that will change the field of advanced wound care. There is a pressing need for technologies to improve the advanced wound care process, whether in cost savings, patient outcome improvement, or both. Technologies that prevent the formation of chronic wound or decrease the risk of wound complications are particularly promising to the field. Through utilizing these new disruptive measures, a high patient quality of life can be maintained while saving the healthcare systems billions of dollars.
Top image: VTT Finland