Colombia Wound Care Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024-2030)

Colombia Wound Care Market Size

Colombia Wound Care Market Trends & Growth Drivers

Shift in Preference from Traditional Products to Advanced Therapies Is a Key Trend

• In Colombia, a shift has been observed in consumer preference from traditional wound care products to advanced ones.
• Traditional wound care products provide dry healing when used as a primary dressing or serve as a secondary dressing to hold the primary dressing in place and/or absorb excess exudate.
• Advanced wound care products, on the other hand, accelerate healing and provide quick relief by keeping the wound area moist.
• For instance, Coloplast A/S’s Biatain Alginate is a highly absorbent alginate dressing for moderate-to-heavy-exuding wounds, and ConvaTec Group PLC’s AQUACEL Ag Foam is a silver foam dressing, which facilitates rapid and effective antimicrobial action.

Surging Geriatric Population and Increasing Diabetes Prevalence Drive the Market

• The aging population is increasing at a high rate in Colombia, which is expected to fuel the demand for wound care products.
• According to the World Bank, in 2022, Colombia had about 10% of its total population aged 65 years and above. Life expectancy in the country was 72.83 years in 2021.
• Since older people are more prone to severe wounds, they require extensive wound care.
• Further, the International Diabetes Federation (IDF) stated that over 3.4 million cases of diabetes were reported in Colombia in 2021, which was 9.9% prevalence of diabetes in adults.
• The country is experiencing a demographic transition because of the rising elderly population, declining fertility rate, rapid urbanization, and increasing cases of obesity.
• Thus, it is expected that the prevalence of diabetes in the country will increase to 4 million new cases by 2045, thereby resulting in a high demand for advanced products for the treatment of the chronic wounds associated with it.

Declining Demand for Traditional Wound Dressings Is a Challenge

• The inefficacy of traditional wound dressings in the treatment of severe wounds can be viewed as a factor affecting their demand and hindering the growth of the Colombian wound care market to some extent.
• Traditional wound dressings are suitable for treating small cuts, minor abrasions, and scrapes. However, severe wounds, such as deep cuts, lacerations, severe blisters, puncture wounds, and necrosis, and extensively infected wounds require advanced wound management products.
• Advanced wound dressings prevent moisture leakage and bacterial infection and accelerate the healing process.
• Traditional wound dressings, on the other hand, often lead to wound dryness before the wound gets properly healed.
• Besides, gauzes and bandages often fall off easily due to skin dryness, body movement, and contact with water. They may also result in the reoccurrence of wounds during the replacement of dressing.
• Moreover, traditional wound dressings are required to be frequently changed for the protection of healthy tissues from maceration.
• In case of excessive wound drainage, these traditional dressings can become moistened and may adhere to the wound, making the wound dressing removal painful.

Colombia Wound Care Market Analysis

Type Insights

• The advanced category is estimated to have held the largest revenue share, of around 59%, in the Colombian wound care market in 2024.
• This is ascribed to the moisture and temperature regulation and oxygen flow enabled by advanced wound care products.
• Additionally, they need to be changed fewer times than traditional ones, which saves healthcare costs and helps in faster treatment of wounds, thereby being preferred among patients.

Types covered in the report include:

• Advanced (Largest and Fastest-Growing Category)
• Surgical
• Traditional

Wound Type Insights

• The chronic wounds category dominates the market and it is also expected to attain the same position in the coming years.
• This is ascribed mainly to the greater severity of chronic wounds, such as pressure ulcers, fungating wounds, and diabetic foot ulcers (DFUs).
• Additionally, considering the fact that the prevalence of diabetes is rising in the country, the number of people at risk of DFUs is increasing too. This is further propelling the demand for various products for the management of chronic wounds.

The following wound types are included in the report:

• Chronic Wounds (Larger and Faster-Growing Category)
• Acute Wounds

End User Insights

• The hospitals and specialty clinics category are projected to register the fastest growth in the market during 2024–2030, advancing at a CAGR of above 5%.
• This can be because a large number of patients in the country prefer to visit hospitals and specialty clinics in case of chronic wounds and severe injuries.

End users covered in the report are:

• Hospitals and Specialty Clinics (Largest and Fastest-Growing Category)
• Home Healthcare Settings
• Long-Term Care Settings

Regional Analysis

Cundinamarca Is the Largest Market

• In terms of the state, Cundinamarca leads the market for wound care in Colombia, with an estimated revenue share of around 45% in 2024, and it is expected to maintain the same position during the forecast period as well.
• This is because the state has a number of big hospitals, which drive the demand for various wound care products.
• Furthermore, based on state, Bogotá is the largest wound care market in Colombia, and this city market is also expected to witness the fastest growth, propelling at a CAGR of around 5% during the forecast period.
• The presence of Joint Commission International (JCI)-accredited hospitals, large population, and improving access to healthcare services are the major factors driving the demand for wound care products in the city.

Further, regions and countries analyzed for this report include:

• By State
  • Cundinamarca (Largest and Fastest-Growing State Market)
  • Antioquia
  • Valle del Cauca
  • Atlántico
  • Bolívar
  • Santander
• By City
  • Bogotá (Largest and Fastest-Growing City Market)
  • Medellín
  • Cali
  • Barranquilla
  • Cartagena
  • Bucaramanga

Colombia Wound Care Market Share

The Colombian wound care market is medium fragmented in nature, due to the presence of a large number of local and international players. These players have been involved in several development strategies, such as product launches, mergers and acquisitions, partnerships and collaborations, and facility expansions, to gain a competitive edge.

Colombia Wound Care Market News

• In February 2024, Wound Care University announced its partnership with the ABWM Foundation for wound care education courses for clinicians.
• In October 2023, Novartis announced the approval of its Cosentyx (secukinumab) from the FDA to treat moderate to severe hidradenitis suppurativa (HS) in adults.
• In March 2023, Vaporox announced the approval of its next-generation VHT-200 medical device system from the FDA for healing chronic wounds, meeting a significant unmet medical need for millions of patients with diabetic foot ulcers.
• In April 2021, Essity AB acquired approximately 44% shares of Productos Familia S.A. (Familia), a Colombian hygiene company. After the closing of the transaction, Essity will have around 94% shares of Familia.