U.S. Wound Care Centers Market Growth & Trends
The U.S. wound care centers market size is expected to reach USD 20.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.87% from 2022 to 2030. The increasing awareness regarding the use of Hyperbaric Oxygen Therapy (HBOT), for chronic injuries and the growing geriatric population prone to various conditions, is anticipated to drive the growth. In the U.S., up to 35% of the population suffers from chronic venous ulcers, which involve treatment expenditure of around USD 34,000 or more. High incidence of various types of wounds results in high demand for wound treatment, thereby propelling the growth of the wound care centers industry in the U.S.
The growing incidences of conditions such as foot ulcers, pressure sores, sun radiation sores, caused by diabetes, and diseases 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 2022, out of which 26.9 million adults above the age of 65 years suffered from the disease. Patients with diabetes develop slow-healing wounds, which can lead to various complications such as infection near the tissue or bone.
The COVID-19 outbreak has had a detrimental impact on the market. Due to the pandemic, few market players reported a drop in revenue in 2020. Centers were impacted due to service restrictions & drop in patient footfall. Many service providers shifted to telemedicine platforms and virtual visits to continue care for chronic wound patients. After the relaxations, patient volume for wound care visits picked up slowly; however, it remained below the pre-pandemic levels.
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U.S. Wound Care Center Market Report Highlights
The Hyperbaric Oxygen Therapy (HBOT) segment dominated the market in 2021 due to its high success rate and growing demand for treating chronic injuries 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 injury healing
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 injuries in the lower extremities of patients
To facilitate wound care during the COVID-19 pandemic, many injury care providers launched several programs to treat the patients remotely. For instance, Healogics, Inc., launched its Telehealth Program, to more than 600 injury care centers and 4,000 associated injury care providers
To meet the increasing demand for wound care and create awareness, wound care centers are adopting new technologies and conducting awareness programs. For instance, in February 2020, Healogics, Inc. developed a predictive model for the identification of wounds that are most likely to heal in 12 weeks
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