According to MarkNtel Advisors, the GCC Wound Care Market is set to record around 5% CAGR during 2023-28. A dramatic rise in the number of patients suffering from venous leg ulcers, diabetic foot ulcers, cavity wounds, & skin abrasions in recent years, which have called for advanced wound healing specialties across healthcare setups, is the prime factor projected to drive the market over the forecast years. Besides, substantial government investments in enhancing the healthcare infrastructure to encourage R&D on developing more effective wound care devices are also augmenting the market growth.
Moreover, advancements in lesion care, owing to the inefficiency of existing methods, alongside their side effects, have instigated the need for upgraded healing products, i.e., boding well for the wound care industry. Furthermore, the rapidly rising geriatric population in the GCC region has compelled wound care facilities to facilitate more accessible applications and rapid recoveries, thereby creating new avenues for the wound care market to witness notable expansion in the coming years.
Diabetic Foot Ulcers Acquired the Major Market Share
The mounting cases of diabetic foot ulcers, various government initiatives toward providing free treatment for these conditions, easy access to hospitals, and burgeoning consumer awareness of the benefits of advanced wound care are the prime reasons behind the majority share of diabetic foot ulcers in the GCC Wound Care Market. Additionally, the surging adoption of wound care devices and the rapidly increasing elderly population across the region are further stimulating the market expansion for diabetic foot ulcers.
UAE Dominates the Wound Care Market across the GCC
Massive government investments in the healthcare sector and the launch of various health awareness campaigns are the prime aspects driving the wound care market in the UAE. According to the Telecommunications and Digital Health Regulatory Authority, the UAE's government expenditure on healthcare in 2020 accounted for around AED 4.84 billion. Moreover, there were numerous diabetic foot & wound care surgeries performed in hospitals in the country, which marked significant growth for the wound care industry and created profitable prospects for the leading players operating in the market. Hence, these aspects have made the UAE Wound Care Market the largest across the entire GCC region.
The key companies in the GCC Wound Care Market include Smith & Nephew, 3M Gulf Ltd, Integra Lifesciences Middle East FZ-LLC, Medtronic PLC, Mundipharma Middle East FZ-LLC, ConvoTec, Coloplast, and BSN Medical.
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