Australia Wound Care Management Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Australia Wound Care Management Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Australian wound care management devices market is expected to witness a CAGR of 7.5% during the forecast period (2022-2027).

The COVID-19 pandemic caused serious issues with the provision of wound care. Due to several comorbidities, wound patients are more likely to experience COVID-19's most serious effects. As a result, fewer hospital admissions and reduced diagnoses affect the biologics used in wound care. Even during the COVID-19 crisis, managing chronic wounds is important. According to the study titled "Management of diabetes‐related foot disease in the outpatient setting during the COVID‐19 pandemic" published in the International Journal of Medicine in July 2021, to assist in the management of acute diabetes-related foot disease (DFD) during the COVID-19 pandemic. Patients who had recovered from an ulcer were switched to telephone consultations. The number of in-person visits for patients with an active DFU was decreased using a telephone consultation in between occasions of treatment. To reduce their exposure to COVID-19, some patients with active DFU preferred telephone consultations. Additionally, the risk of pressure, and ulcers is high in the COVID population. Thus, during COVID-19 the wound care management market significantly impacted.

Certain factors that are driving the growth of the market include rising incidences of chronic wounds include venous ulcers, arterial ulcers, diabetic ulcers and pressure ulcers, growing demand for faster recovery of wounds, and an increase in surgeries.

According to the study titled "Australian guideline on diagnosis and management of peripheral artery disease: part of the 2021 Australian evidence-based guidelines for diabetes-related foot disease" Journal of Foot and Ankle Research in July 2022, Up to 50,000 Australians have diabetes-related foot ulcers (DFU), and another 300,000 may be at risk for developing DFUs. Chronic wounds remain a largely hidden and poorly supported problem in the Australian community. Yet, the awareness regarding the condition and the demand for fast recovery of these wounds have been observing a significant rise over the past few years, thus generating a huge opportunity for the growth of the market in the country.

However, growing desire for faster wound recovery forces market participants to implement technical advancements that enhance wound care management in Australia. For Instance in December 2021, Western NSW Primary Health Network, Australian Unity, The University of Technology Sydney, CSIRO, and Coviu top Australia's telehealth solution are working together to develop a comprehensive digital toolkit for telehealth wound care. Such initiatives supports the market expansion in country. However growing awareness among the individual about the wound care management further supports the market growth. For Instance, in July 2021, The most significant annual campaign Wounds Australia runs to raise public awareness of chronic wounds and change public policy on wound care is called Wound Awareness Week 2021 (WAW21).

Thus, all aforementioned factors is expected to drive the growth of the market over the forecast period. However, high cost of procedure and lack of reimbursement restraint the market growth.

Key Market TrendsNegative Pressure Wound Therapy (NPWT) System is Expected to Show Lucrative Growth

Negative-pressure wound therapy (NPWT) is a therapeutic technique using a suction dressing to remove excess exudation and promote healing in acute or chronic wounds and second-and third-degree burns. The segment is expanding as the prevalence of burns and chronic wounds both rise. According to Wound Australia Report in January 2022, Over 420,000 Australians experience a persistent wound each year. The cost of treating chronic wounds consumes more than USD 3 billion of the country's health and elderly care expenditures. The average patient with persistent wounds pays over USD 4,000 out of pocket.

According to the study titled "National study to improve burns treatment for children" published in December 2021 by Bronwyn Griffin, a wound dressing system called Negative-pressure wound therapy (NPWT) applies sub-atmospheric pressure inside a closed dressing to create a positive pressure that draws fluid and infection from a burn wound's surface. wound care using negative pressure (NPWT) The pediatric burn centers in Australia treat more than 4000 kids for acute burns each year. When compared to traditional silver dressings, Negative-pressure wound therapy (NPWT) for burns has demonstrated faster healing times an average of 22%, and 60% lower referral risk for long-term scar treatment, and lower costs per patient. Thus, due to the benefits of the Negative-pressure wound therapy (NPWT) in the treatment of burn and chronic wound it is anticipated to drive the growth of the segment.

People over 65 are more susceptible to chronic wounds because of age-related problems thus, growing aging population in country it is expected that burden of chronic wound is expected to increased over the forecast period. For Instance, according to the Australian Institutes of Health and Welfare In November 2021, the percentage of people 65 and older in Australia climbed to 16.2% in 2021. Australians over the age of 65 will make up a growing portion of the population through 2066, reaching a peak of about 20.7%.

Hence, the increasing burden of chronic wound and the growing adoption of these products are the major factors propelling the growth of the wound care market.

Competitive Landscape

The Australian wound care management devices market is highly competitive and consists of several major players. Companies, such as 3M Health Care Ltd, Coloplast AS, ConvaTec Inc., Covidien PLC, Hollister Incorporated, Johnson & Johnson, Medline Industries Inc., and Smith & Nephew PLC, among others, hold a substantial market share in the Australian wound care management devices market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.