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

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

Canada's Wound Care Management Market is poised to grow at a CAGR of 5.8% over the forecast period.

The healthcare industry in Canada was significantly hampered during the COVID-19 pandemic. According to the article published by the National Institute of Health in December 2020 titled, 'COVID-19 and wound care: A Canadian perspective,' there was a significant decrease in the in-patient wound-related visits in Canadian hospitals. As a result, telewound services were majorly used which include online consultation with the doctor. Telewound services helped patients to manage their wounds at home with online consultations from doctors. Data published by Swift Medical in October 2021, in Canada, wound contributes to around 50% of home and community healthcare which means that wounds are the most common and integral aspect of healthcare in Canada. Therefore, the Wound Care Inter-professional Team (IPT), a collaborative, cross-continuum care team, was established by Home and Community Care Support Services Central East (Central East) to help overcome the challenge and guarantee that patients continue to receive seamless, high-quality wound care in the home and community throughout the pandemic in Canada. Hence, owing to the above-mentioned factors, it is observed that the market for wound care management in Canada was largely affected due to the COVID-19 outbreak.

Canada wound care management devices market will show rapid growth due to the increase in diabetes and the obese population and the rise in chronic wounds and ulcers. Diabetes is one of the diseases that cause major wounds such as Diabetic Foot. Hence, an increase in the incidence of diabetes leads to the increasing demand for wound care management products. As per the data published by International Diabetes Federation (IDF) in 2021, the incidence of diabetes in Canada (per 100,000) for the year 2021 was around 37.9% in children aged between 0-14 years. In addition, the number of adults aged 20-79 years suffering from diabetes in Canada was around 3 million for the year 2021. Therefore, with the increasing burden of diabetes in Canada, the wound care management market is expected to witness healthy growth over the forecast period.

However, lack of awareness of good quality care in some territories of the country is expecte dto hamper the market growth over the forecast period.

Key Market TrendsPressure Ulcer is Expected to Witness Strong Growth Over the Forecast Period

A pressure ulcer is a localized injury to the skin or underlying tissue, as a result of pressure, or pressure in combination with shear and or friction.

In Canada, various wound care associations work closely to provide class-leading treatment for pressure ulcers, specifically hospital-acquired pressure ulcers. As per the report published by the Canadian Patient Safety Institute in 2021 titled, 'Hospital Harm Improvement Resource: Pressure Ulcer,' the net hospitalization cost of hospital-acquired pressure ulcers in the country is approximately CAD 44,000 to CAD 90,000. Hence, Accreditation Canada has included pressure ulcers in Required Organizational Practices (ROP) in its 2020 handbook. This indicates that there is a growing concern across Canada about pressure ulcers and the wound-related associations are working towards it which is expected to fuel the growth of the segment studied.

Additionally, as per the report published by Foundations of Best Practice for Skin and Wound Management: Wounds Canada in 2020, in the last decade, there has been a drastic decrease in the prevalence and incidence of pressure ulcers in Canada. As of the year 2020, there was up to 57% reduction in the prevalence of pressure ulcers whereas the incidence is decreased by 71% in the last 10 years. The Pressure Ulcer Awareness and Prevention Program (PUAP) which is conducted in Canada since 2006 is a continuous quality improvement (CQI) program implemented in Canadian institutions. This program has helped significantly to reduce the burden of pressure ulcers across the hospitals in Canada. Hence, with the initaitives from the government for managing pressure ulcers and the high number of people suffering from pressure ulcers, the segment is expected to witness strong growth over the forecast period.

Therefore, owing to the above-mentioned factors, it is observed that the segment will witness healthy growth over the forecast period.

Competitive Landscape

Canada's wound care management market is moderately competitive with a presence of mostly global players along with comparatively fewer local players in the country. The market players are committed to developing innovative healing solutions for the customers and patients across the care continuum, generating proven clinical outcomes. Some of the major players operating in the market include 3M, B. Braun Melsungen AG, Cardinal Health, Smith and Nephew, and ConvaTec Group PLC, among others.

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