Growing Incidence of Chronic Wounds Driving Demand for Wound Care Products in Colombia

The mushrooming population of geriatric people is one of the major factors driving the demand for wound care in Colombia. As per an article published in 2016 in the journal, Current Gerontology and Geriatrics Research, there were nearly 5.2 million people in the age bracket- 60 years and above in Colombia. As geriatric people have weakened immunity levels and body functions, they require longer recovery periods in order to heal from a wound as compared to young individuals. Moreover, geriatric people need extensive patient care, as they are highly vulnerable to diseases. 

Access Detailed Report - Colombian Wound Care Market Competitive Analysis

With a large number of people getting healthcare coverage in the country, the demand for wound care products and therapies is soaring, thereby causing the expansion of the Colombian wound care market. According to the estimates of the market research company, P&S Intelligence, the revenue of the market will rise from $76.1 million in 2018 to $93.9 million by 2024. The market is also expected to demonstrate a CAGR of 3.6% from 2019 to 2024. 

Out of traditional, advanced, and surgical wound care, the demand for advanced wound care is predicted to rise at the fastest pace in the coming years. This will be because of the fact that advanced wound care products have temperature, moisture, and oxygen flow regulating characteristics around wounds. Additionally, these products mitigate the frequency of changing dressings, unlike the traditional wound care products. These wound care products are used for treating and managing both chronic and acute wounds in the country. 

Thus, the demand for wound care products and therapies will rise enormously in Colombia in the forthcoming years, mainly because of the rising incidence of chronic wounds and the mushrooming population of geriatric people in the country.