The Colombian wound care market was at a total value of $80.1 million in 2021, and it is expected to propel at a CAGR of 4.5% during the forecast period, to reach $118.7 million by 2030. The main factors for the growth of the market are the rising volume of surgeries, an increase in the incidence of road accidents, burns and other forms of intentional and unintentional trauma, growth in the geriatric population, and surge in the prevalence of diabetes.
The share of the Advanced wound care category held the larger share in the country in 2021. This can be mainly attributed to the moisture and temperature guidelines and oxygen flow aided by cutting-edge wound care products. Moreover, they need to be altered a lot fewer times when compared to their traditional counterparts, which saves costs and helps in faster healing of wounds, which is a prime reason they are beginning to be preferred by patients.
There is a shift in consumer preference in the Colombian wound care market from traditional to advanced wound care products. Traditional ones offer dry healing when used as a primary dressing or used as a secondary dressing to hold the primary dressing. Contrarily, advanced wound care products quicken the healing process by keeping the wound area moist. Such advanced products for wound care include a range of dressings, biologics, and therapeutic devices, such as negative-pressure wound therapy (NPWT) devices.
The Colombian wound care market is set to grow with the increasing prevalence of diabetes. From around 2.8 million in 2019, the population of diabetes patients in Colombia is expected to increase to 4 million new cases in the coming years, which will increase the demand for advanced products. The country is undergoing a demographic transition because of the sharp rise in the elderly population, falling fertility rate, fast urbanization, and increasing obesity.
Therefore, the field of wound care in Colombia offers lucrative opportunities to medical devices, pharmaceutical, and life sciences companies, especially with the rising emphasis on advanced wound management methods.
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