Colombia Wound Care Market To Generate $118.7 Million Revenue by 2030

AMITYVILLE, Calif. - March 28, 2022 - PRLog -- A number of factors such as the growing prevalence of diabetes, mushrooming geriatric population, increasing healthcare coverage, and surging cases of traumatic injuries and different kinds of chronic diseases will drive the Colombian wound care market at 4.5% CAGR during 2021–2030.

One of the primary growth drivers of the market is the surging incidence of diabetes in the country, as injuries in diabetic patients take a longer time to heal. The IDF projects that the number of adult diabetic patients in the age group of 20–79 years in Colombia will grow from 3,443,600 in 2021 to 4,060,300 by 2030. The organization also estimated that this lifestyle-related disease accounted for 35,562 deaths among people aged 20–79 years in Colombia in 2021.

Moreover, the burgeoning geriatric population will also contribute to the Colombian wound care market growth (https://www.psmarketresearch.com/market-analysis/colombian-wound-care-market). As elderly people are highly prone to severe and traumatic wounds, they require extensive wound care due to a weak immune system. The OECD estimated that nearly 8.50% of the Colombian population was aged 65 years and more in 2020. As per the World Bank, the population of people aged 65 years and above in the country increased from 4,412,670 in 2019 to 4,610,275 in 2020.

The chronic wounds category, within the wound type segment, held a larger share in the Colombian wound care industry in 2021. This is credited to the greater severity of chronic wounds, such as fungating wounds, diabetic foot ulcers, and pressure ulcers. Moreover, the rising cases of diabetic foot ulcers, on account of the growing prevalence of diabetes, also supplement the growth of the market in this category. Owing to these factors, the category will generate the highest revenue in the coming years as well.

According to P&S Intelligence, the state of Cundinamarca accounted for the largest share in the Colombian wound care market in 2021, and it will retain its dominance throughout this decade. This can be primarily attributed to the presence of several hospitals in the state. Furthermore, the city of Bogota generates a significant revenue in the market, due to the presence of a vast population and Joint Commission International (JCI)-accredited hospitals in the city. Additionally, the increasing access to healthcare services will also drive the demand for wound care in Bogota.