Hyderabad, April 03, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Australia Wound Care Management Devices Market - (2023 – 2028),” the market is expected to register a CAGR of 7.5%. According to the Journal of Foot and Ankle Research published in July 2022, up to 50,000 Australians have diabetes-related foot ulcers (DFU), and another 300,000 might be at risk for developing DFUs. Chronic wounds remain a largely hidden and poorly supported problem in the Australian community. However, the awareness regarding the condition and the demand for fast recovery of these wounds has been observing a significant rise over the past few years, thus generating a significant opportunity for the growth of the market in the country.
What are the major trends driving the Australia Wound Care Management Devices Market?
Negative-pressure wound therapy (NPWT) is a treatment method that uses a suction dressing to remove excess exudate and promote healing in acute or chronic wounds, as well as second - and third-degree burns.
- The Negative pressure wound therapy segment is expanding as burns, and chronic wounds become more prevalent.
- According to Wound Australia Report in January 2022, over 420,000 Australians experience a persistent wound each year.
- The average patient with persistent wounds pays over USD 4,000 out of pocket.
- Demand for cost-effective wound management devices is expected to increase due to chronic wounds.
- NPWT creates positive pressure to draw fluid and infection from burn wounds.
- The pediatric burn centers in Australia treat more than 4,000 kids for acute burns each year.
- NPWT for burns has improved healing times, lowered referral risk, and lowered costs per patient.
Thus, the benefits of NPWT in the treatment of burns and chronic wounds are anticipated to drive the growth of the segment.
Foam Dressing is expected to grow significantly in the forecast period (2023 – 2028):
Foam dressings are used as primary and secondary wound dressings to provide absorption and insulation. The presence of various companies providing foam dressings in Australia, as well as the rising burden of chronic wounds, are two major factors driving the segment's growth.
Smith and Nephew, 3M, Hartman AG, inHealth Group, and Cardinal Health are among the key companies operating in the Australian foam dressing segment. Vital Medical Supplies is a leading supplier of foam dressing in Australia.
The Australian guidelines on wound healing interventions include foam dressing as a critical wound management tool in a heavily exuding neuropathic diabetic foot ulcer, according to data from the Journal of Foot and Ankle Research published in May 2022.
According to the Wounds Australia 2022 report, chronic wounds consume more than USD 3 billion of the nation's aged care and healthcare budgets. According to the Australian Institute of Health and Welfare data updated in November 2022, there were approximately 33,600 hospitalizations in Australia due to injuries.
Who are the key players in the Australia Wound Care Management Devices Market?
The Australian market for wound care management devices is highly competitive and consists of several major players. Companies such as:
- 3M Health Care Ltd
- Medtronic PLC
- Medline Industries Inc.
- Smith & Nephew PLC
- Johnson & Johnson
- Coloplast AS
- ConvaTec Inc.
- Hollister Incorporated
Recent developments in the Australia Wound Care Management Devices Market:
- In September 2022: The Therapeutic Goods Administration of Australia announced Class II B entry for the VivereX NPWT system developed by L&R Group.
- In December 2021: Telehealth firm Coviu disclosed that it would work on a project to create a new digital toolkit for telehealth wound care.
- In September 2021: St. Vincent's Toowoomba, Australia, collaborated with the Prison Health Project, a wound care initiative. St Vincent's inspired the development of a cutting-edge wound care program with members of the Aboriginal community.
In a nutshell, the Mordor Intelligence Australian Wound Care Management Devices Market Research Report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the https://www.mordorintelligence.com/industry-reports/australia-wound-care-management-devices-market
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. It predicts butterfly effects that have the potential to change or significantly impact market dynamics.
Market research reports from Mordor Intelligence are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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