U.S. Wound Care Centers Market Size, Share & Trends Analysis Report By Procedure And Segment Forecasts, 2020 - 2027

U.S. Wound Care Centers Market Size, Share & Trends Analysis Report By Procedure And Segment Forecasts, 2020 - 2027

  • September 2020 •
  • 71 pages •
  • Report ID: 5976464 •
  • Format: PDF
U.S. Wound Care Centers Market Size, Share & Trends Analysis Report By Procedure (Debridement, Negative Pressure Wound Therapy, Compression Therapy, Hyperbaric Oxygen Therapy), And Segment Forecasts, 2020 - 2027

The U.S. Wound Care Centers Market Growth & Trends

The U.S. wound care centers market size is expected to reach USD 17.0 billion by 2027, expanding at a CAGR of 3.7%. The increasing awareness regarding the use of Hyperbaric Oxygen Therapy (HBOT), for chronic wounds and the growing geriatric population prone to various conditions, is anticipated to drive the market. According to a report by the U.S. Census Bureau, in June 2020, the geriatric population grew by around 34.2% over the last decade.

The growing incidences of conditions such as foot ulcers, pressure sores, sun radiation sores, caused by diabetes, and disease caused by abnormal blood circulation are expected to fuel the market in the future.The rising prevalence of diabetes is also expected to fuel the market over the next few years.

According to the American Diabetes Association, approximately 34.2 million of the population had diabetes in 2018, out of which 14.3 million adults above the age of 65 years suffered from the disease. Patients with diabetes develop slow-healing wounds, that allow wounds to rot easily thus causing various complications such as infection near the tissue or bone.

U.S. Wound Care Centers Market Report Highlights
• Hyperbaric Oxygen Therapy (HBOT) dominated the procedure segment in 2019 due to its high success rate and growing demand for treating chronic wounds such as diabetic foot ulcers and arterial ulcers
• As per an article in the American Journal of Managed Care (AMJC), approximately 230 amputations due to diabetes are reported in the U.S., every year
• The HBOT procedures are expected to witness one of the fastest growth rates during the forecast period due to the increasing awareness about their benefits in wound healing. For instance, in March 2019, Jefferson Wound Care Center included HBOT in its service portfolio to provide better treatment to patients with non-healing wounds
• The availability of reimbursement and regulatory updates promotes the adoption of wound care treatment. For instance, the CMS included reimbursement for HBOT for treating diabetic wounds in the lower extremities of patients
• To facilitate wound care during the COVID-19 pandemic, many wound care providers launched several programs in order to treat the patients remotely. For instance, Healogics, Inc., launched its Telehealth Program, to more than 600 wound care centers and 4,000 associated wound care providers
• The market is highly competitive in nature.