Colombia Wound Care Market Is Led by the Chronic Wounds Category

As per a report by P&S Intelligence, the Colombia wound care market will grow at a 4.5% CAGR, to reach USD 118.7 million, by 2030. 

The growth of the industry is credited to the surging elderly population, increasing prevalence of traumatic injuries, growing incidence of diabetes, and the rising coverage of healthcare.

Based on type, the advanced category accounted for the largest share in the past few years. This is attributed to the oxygen flow and regulation of moisture and temperature provided by enhanced wound care products.

Based on wound type, the Colombia wound care market was led by the chronic wounds category in recent years, and it will retain the same position in the years to come. This is mainly attributed to the severity of chronic wounds, for instance fungating wounds, diabetic foot ulcers, and pressure ulcers.

Based on end users, the hospitals and specialty clinics category will experience the fastest growth in the years to come. This is credited to the fact that most of the patients in the nation prefer visiting specialty clinics and hospitals for severe injuries and chronic wounds.

In the past few years, the Colombian wound care industry was led by Cundinamarca, and it will maintain its position in the years to come. This is mainly credited to the existence of several big hospitals in this state, which increases the requirement for numerous wound care products.

On the other hand, Bogotá is the largest wound care industry in the region, in terms of the city. This is credited to the existence of Joint Commission International-accredited hospitals, improving access to healthcare services, and the large population in the city.

A key trend observe in the wound care industry in Colombia is the shift in preference of consumers from traditional wound care products to advanced products.

As per International Diabetes Federation (IDF), Colombia is undergoing a demographic shift due to the decreasing rate of fertility, increasing populace of elderly, rising cases of obesity, and rapid urbanization. Therefore, by 2045, the incidence of diabetes in the nation will increase to 4 million new cases, which will lead to a high requirement for advanced products for chronic wound treatment related to it.

The competition in the wound care industry in Colombia has increased due to the existence of a large number of players. In the past few years, players have been involved in mergers & acquisitions, and product launches to gain a competitive edge.

It is because of the increasing incidence of traumatic injuries, rising healthcare coverage, and increasing incidence of diabetes, the Colombia wound care industry will continue to advance in the years to come.

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