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

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

The Mexico Wound Care Management Market is expected to register a high CAGR of 6.7% during the forecast period.

COVID-19 created significant disruptions in health systems. The delivery of wound care, which should be considered a significant medical service, has altered as a result of the necessity. Rather than eliminating wound healing, the main goals of wound care during this period were to minimize serious wound complications and, where possible, reduce hospitalization and surgery. Wound care before the pandemic aimed to heal patients' wounds with a mix of antibiotics, sufficient dressing, and proper loading. Additionally, to relieve the pressure on public hospitals, the Ministry of Health announced on April 8th, 2020, a collaboration plan with a network of 250 private hospitals (with 3,175 available beds) to increase medical attention capacity for non-COVID-19 public-sector patients. Hence, During the COVID-19 pandemic, the studied market was severely impacted and is expected to regain the growth in coming years.

Generally, the wound care management market in Mexico is expected to grow due to the increasing incidences of chronic wounds, ulcers, and diabetic ulcers. There is also an increasing prevalence of diabetes, which is Mexico's primary cause of diabetic foot ulcers. According to International Diabetes Federation (IDF) Diabetes Atlas 2021, In 2021, an estimated 14 million adults in Mexico are living with diabetes – a rise of 10% in the past two years. Additionally, as per the above mentioned source, 11 million adults in the country have impaired glucose tolerance (IGT), which places them at high risk of developing type 2 diabetes. Diabetes-related health expenditure in Mexico has reached USD 20 billion, putting it in the top ten countries or territories with the highest total health expenditure. Under half (47.5%) of people living with diabetes in the country are undiagnosed. Thus, the rising prevalence of diabetes is expected to rise in the diabetes foot population, thereby boosting market growth.

The key contributors to the market growth are the increasing older population and the growing burden of chronic wounds. According to United Nations estimates for 2020, the population aged 60 and up reached 14.5 million in 2020, accounting for 11% of the total population. This group is made up of 55% women and 45% men. Furthermore, it is predicted that by 2050, one out of every four Mexicans will be 60 or older, amounting to almost 40 million people. The older population is at high risk of acquiring chronic wounds. Hence, this escalation is developing the need to analyze, review and forecast the growth of the wound care management market. Thus, all the above-mentioned factors are expected to boost market growth over the forecast period. However,

Key Market TrendsDressing is Expected to Exibhit a Significant Growth in the Mexico Wound Care Management Market

The dressing is expected to show a significant growth rate, owing to the higher prevalence of diabetic foot ulcers. A diabetic foot ulcer is a major complication commonly observed in diabetes mellitus. Diabetes is one of the major health issues for healthcare systems in Mexico. Because of the disease's increasing incidence, prevalence, and progressive nature, new medications are being developed to provide more therapy choices for diabetes patients. According to the study titled "Comparison of Diabetes Mellitus Risk Factors in Mexico in 2003 and 2014" published in June 2022, diabetes mellitus is especially important in Mexico, which has the world's sixth highest number of adults with the condition (12.8 million in 2019), which is expected to rise to 22.3 million by 2045. Diabetes-related infections in the lower limb are the most prevalent reason for hospitalization, and they can lead to amputation, which is the leading cause of death in these patients in Mexico. Hence, the growing burden of the diabetes in country is expected to boost segment growth as diabetes is the main cause of diabetes foot ulcers, thereby boosting the segment growth.

Additionally, the growing number of surgeries in Mexico is expected to boost segment growth over the forecast period. For instance, according to the Organization for Economic Co-operation and Development (OECD) in 2022, in Mexico, 3,154. 6 complete knee replacement surgeries had been performed in 2020. Thus, growing surgical volume in the country is expected to drive the demand for dressing, thereby boosting the segment growth.

Hence, the above-mentioned factors are further expected to improve the market growth in this segment.

Competitive Landscape

Mexico wound care management market is competitive and consists of several major players. The companies are also showing continuous growth and are developing new and differentiated products and services, which address the evolving healthcare needs among patients, providers, and consumers. The key players in the market are 3M Company, Baxter International, Coloplast, ConvaTec Group PLC, Hollister Incorporated, Integra LifeSciences, Johnson & Johnson, Molnlycke Health Care and Smith + Nephew.

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