Canada Advanced Wound Care Market
Canada Advanced Wound Care Market is segmented By Product (Exudate Management, Infection Management, Compression Bandage, Therapy Devices, Hemostatic Dressing, Nanofibre Dressing, and others), By Wound Type (Chronic Wounds, Acute Wounds, Pressure Ulcers, Venous Leg Ulcer, Diabetic Foot Ulcer), By Province (Quebec, Ontario, Nova Scotia, New Brunswick, Manitoba, British Columbia, Prince Edward Island, and More) – Industry Size, Share, Size, Outlook, and Opportunity Analysis, 2023-2030.
Canada advanced wound care market size was valued at US$ 231.30 million in 2021 and is estimated to reach USD million by 2029, growing at a CAGR of 5.39% during the forecast period (2023-2030). Advanced wound care is a category of wound management products that are intended for the treatment of chronic and acute wounds. It includes a wide range of medical solutions such as wound dressings, negative pressure wound therapy devices, and oxygen therapy pumps. The demand for advanced wound care has been rising in Canada owing to an increase in cases of diseases and medical conditions that affect wound healing capabilities.
Canada Advanced Wound Care Market Scope
Metrics |
Details |
Market CAGR |
5.39% |
Segments Covered |
By Product, By Wound Type, and By Province |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
Fastest Growing Region |
Asia Pacific |
Largest Market Share |
North America |
Market Growth:
The Canadian advanced wound care market growth is driven by the factors such as the rising prevalence of chronic wounds, and increasing prevalence of diabetes, and venous and ureteral diseases.
The growing prevalence of diseases and conditions affecting wound healing capabilities drives the market growth
The growing incidence of chronic ailments such as diabetes is driving the growth of Canada’s advanced wound care market. The number of Canadians living with chronic ulcers is increasing due to the prevalence of diabetes, and venous and arterial diseases. Diabetic patients exhibit a documented impairment in the healing of acute wounds. This may lead to severe wound infections. The diabetic population is prone to develop chronic non-healing diabetic foot ulcers (DFUs), which are estimated to occur in 15% of all persons with diabetes.
With the growing number of diabetics in the country, wound care is gaining importance. According to Statistics Canada, the number of diabetics cases in the country reached 2.49 million in 2019 which is 11% higher than that of the previous year. The incidence rate increased to 7%.
The aging population is another key factor driving the wound care market. Older adults are more likely to have chronic wounds. Vascular diseases are chronic and most common among older Canadians and these diseases result in skin breakdown with ulcers and wounds. According to Canada’s population data 2020, nearly 17% of the total population is over 65 years and the country is likely to join superaged countries like Japan and Italy by 2026.
The high cost of treatments and lack of supportive reimbursement policies will hamper the growth of the market
However, the high cost of advanced wound care products is one of the major factors hindering the growth of the market. No robust or cost-effective dressing is available except antimicrobial dressings (silver, iodine, or honey), which are preferred over non-medicated dressings to heal chronic wounds.
Moreover, wound care products are prescribed in large quantities for use on an as-needed basis, which incurs additional costs. Advanced wound care products are expensive compared to traditional wound dressing techniques. Therefore, many patients opt for traditional dressings despite their slow healing process. This is posing a major challenge for the growth of the advanced wound dressings segment
The lack of federal monitoring or supporting authority for advanced wound care is limiting developments and access to patients in this sector, thus hindering market growth in the country. The lack of a federal wound care management program is another factor restricting the growth of the advanced wound care market in Canada
In Canada, wound care management is regulated by provincial bodies, and the wound prevention and management programs vary significantly by province. This has led to challenges in providing cost-effective quality wound care services to Canadians limiting the penetration of advanced wound care in the country.
COVID-19 Impact Analysis
Delivering acute and chronic wound care with physical distancing measures has been a major challenge during the coronavirus disease 2019 pandemic. The average age of patients with chronic wounds is older than 70 years, putting this population at increased risk. Health care providers continue to focus on reducing exposure risk in this subgroup of patients while adapting to the new normal. Because of the cancellation of many educational events, there is a reduced opportunity for dermatologists, primary care clinicians, and other professionals to exchange knowledge and discuss the appropriate management of wound care patients.
Segment Analysis
The chronic wounds segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)
Chronic wounds can be classified as a wound that fails to progress through the phases of healing in an orderly and timely sequence and shows no significant improvement in 30 days’ time.
There is an ever-increasing economic burden for the treatment of chronic wounds being exerted on the healthcare systems in Canada. Hence, the need for cost-effective and innovative products is increasing day by day among the patient population. Recent analytics from the GEMINI group at St. Michael's have revealed that, among 7 Toronto hospitals, the mean in-patient cost for treatment of a diabetic foot ulcer is USD 22,754 per hospital stay and USD 48,808 if a major amputation is required. This is further aggregated by the huge economic cost of treatment of venous leg ulcers and pressure ulcers in the country each year.
Pressure ulcers are commonly found in body parts such as heels, elbows, hips, and the base of the spine. Pressure ulcers usually affect individuals with mobility disorders. People with age over 70 years are particularly vulnerable to pressure ulcers due to factors such as reduced aging of the skin, and blood supply, and older people having a higher rate of mobility problems.
The pressure ulcers once developed, need a rigorous treatment that majorly includes the use of pressure relief devices, wound dressings, tissue sealants, and other wound dressing techniques, owing to which the demand for advanced wound care for pressure ulcers is expected to grow. According to research studies conducted, the prevalence of pressure ulcers varied from 1.1% to 26.7% in the hospital setting, 6% to 29% in the community setting, 7.6% to 53.2% in the nursing home setting, and 13.1% to 28.7% in intensive care units (ICU). The lowest reported prevalence was in the United Kingdom while the highest prevalence was in Canada.
Competitive Landscape
The Canada Advanced Wound Care Market is a moderately competitive presence of local as well as companies. Some of the key players which are contributing to the growth of the market are 3M Healthcare, Urgo Medical, B. Braun Melsungen AG, Coloplast A/S, ConvaTec, Inc., Derma Sciences, Inc., Smith & Nephew, Medline Industries, Inc., Molnlycke Healthcare, Philips Healthcare, Medtronic Plc, Covalon Technologies Ltd., Exciton Technologies Inc. among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Canada Advanced Wound Care Market globally. For instance, in July 2020, Mölnlycke launched a suite of new patient education resources to support wound care practice during the coronavirus pandemic, when home visits from a healthcare professional are more limited.
3M Health Care
Overview:
3M Health Care Limited manufactures, procures, and markets medical, oral care, and drug delivery products. The company develops critical and chronic care products and solutions that help prevent and treat critical and chronic conditions across the continuum of care infection prevention solutions to reduce the risk of exposure to healthcare-associated infections for patients and healthcare professionals’ health information systems to help compile and use health information.
Product Portfolio:
Tegaderm: Under the brand name Tegaderm, 3M offers high-performance foam adhesive dressings, silicone foam border dressings, silicone foam dressings, and high-performance foam non-adhesive dressings among others. Significantly longer wear time than the leading competitive silicone foam dressing while being gentle to the skin, 3M dressings are an excellent part of any wound management and pressure injury prevention program.
The Canada Advanced Wound Care Market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.