Colombia Wound Care Market Research Report: By Type (Advanced, Surgical, Traditional), Wound Type (Chronic Wounds, Acute Wounds), End User (Hospitals and Specialty Clinics, Home Healthcare Settings, Long-Term Care Settings) - Industry Analysis and Demand Forecast to 2030

Market Overview

The Colombian wound care market is estimated to have generated $80.1 million in 2021, and it is expected to grow at a CAGR of 4.5% during 2021–2030. The key factors responsible for the growth of the market include the surging geriatric population, increasing prevalence of diabetes, rising incidence of traumatic injuries and other kinds of chronic wounds, and growing healthcare coverage.

The COVID-19 epidemic has negatively affected the Colombian market for wound care products due to the strict measures taken by the government to restrict the spread of the virus. As a result, companies manufacturing such products in the country faced several challenges, including smaller workforces, and a lower product demand owing to the reduced incidence of road and industrial accidents and burn cases and a low volume of surgeries.

Advanced Wound Care and Chronic Wound Categories Dominate Market

The advanced category held the largest share in the Colombian wound care market in 2021, based on type. This can be 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 a faster treatment of wounds, thereby being preferred among patients.

Chronic wounds led the wound care market of Colombia in 2021, and they are also expected to attain the same position in the coming years, based on wound type. This can be 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.

Hospitals and Specialty Clinics To Witness Highest Growth Rate

The hospitals and specialty clinics category is projected to register the fastest growth in the market during 2021–2030, based on end user. This can be attributed to the fact that a large number of patients in the country prefer to visit hospitals and specialty clinics in case of chronic wounds and severe injuries.

Cundinamarca Holds Largest Share in Market

In terms of the state, Cundinamarca led the market for wound care in Colombia in 2021, and it is expected to maintain the same position during the forecast period (2022–2030). This will majorly be due to the fact that the state has a number of big hospitals, which drive the demand for various wound care products.

Whereas, in terms of the city, Bogotá is the largest wound care market in Colombia. 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.

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

In Colombia, a shift has been observed in the 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 Driving Wound Care Demand

The aging population is increasing rapidly in Colombia, which is expected to fuel the demand for wound care products. According to the World Bank, in 2019, Colombia had about 8.76% of its total population aged 65 years and above, and this share increased to 9.06% in 2020. Life expectancy in the country was 77.2 years in 2019 (80.0 years for women and 74.58 years for men). Since older people are more prone to severe wounds, they require extensive wound care.

Further, the International Diabetes Federation (IDF) stated that over 2.8 million cases of diabetes were reported in Colombia in 2019. 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.

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Market Players Involved in Product Launches and Mergers and Acquisitions to Gain Significant Position

The Colombian wound care industry has a large number of players, which has increased the competition. In recent years, players in the market have been involved in product launches and mergers and acquisitions in order to attain a significant position. For instance:

• In January 2021, Integra LifeSciences Holdings Corporation announced the completion of the previously disclosed acquisition of ACell Inc. and its proprietary MatriStem UBM technologies. This move will enable Integra to provide more-comprehensive solutions for the management of complex wounds.
• In December 2020, 3M Company revealed the next generation of its hi-tack silicone adhesive tapes. The first in this class is the 2480 3M single-coated medical nonwoven tape with hi-tack silicone adhesive on the liner, featuring longer wear times, supporting heavier devices, and offering more-secure adhesion, while providing all the benefits of 3M's base silicone adhesive portfolio.

Key Players in Colombia Wound Care Market Are

• B. Braun Melsungen AG
• Essity AB
• Coloplast A/S
• 3M Company
• Smith & Nephew PLC
• ConvaTec Group PLC
• Paul Hartmann AG
• Mölnlycke Health Care AB
• Hollister Incorporated

Market Size Breakdown by Segment

The Colombia wound care market report offers comprehensive market segmentation analysis along with market estimation for the period 2017–2030.

Based on Type

• Advanced
  • Wound dressings
    • Foams
    • Hydrocolloids
    • Films
    • Alginates
    • Antimicrobials
    • Hydrogels
    • Collagen
    • Hydrofiber
    • Wound contact layers
    • Superabsorbent
  • Wound care biologics
    • Skin substitutes
    • Growth factors
    • Collagen-based
  • Wound therapy devices
    • Negative pressure wound therapy (NPWT) systems
    • Pressure relief devices
    • Oxygen and hyperbaric oxygen equipment
    • Electrical stimulation devices
• Surgical
  • Sutures and staples
  • Tissue adhesives, sealants, and glues
• Traditional
  • Bandages
  • Fixation Tapes
  • Gauzes
  • Sponges
  • Abdominal pads
  • Eye pad

Based on Wound Type

• Chronic Wounds
  • Diabetic foot ulcers (DFUs)
  • Venous leg ulcers (VLUs)
  • Pressure ulcers
• Acute Wounds
  • Surgical and traumatic wounds
  • Burns

Based on End User

• Hospitals and Specialty Clinics
  • Inpatient settings
  • Outpatient settings
• Home Healthcare Settings
• Long-Term Care Settings

Geographical Analysis

• By State
  • Cundinamarca
  • Antioquia
  • Valle del Cauca
  • Atlántico
  • Bolívar
  • Santander
• By City
  • Bogotá
  • Medellín
  • Cali
  • Barranquilla
  • Cartagena
  • Bucaramanga