Market Definition
Wound care encompasses all stages of wound management. This includes determining the type of wound, factors that influence wound healing, and the appropriate wound management treatments. The treatment facility can determine the best treatment options once the wound has been diagnosed and all factors have been considered.
Market Insights
The GCC Wound Care Market is projected to grow at a CAGR of around 5.0% during the forecast period, i.e., 2023-28. The growth of the market is attributed to a significant rise in the number of patients suffering from chronic wounds such as diabetic foot ulcers, venous leg ulcers, cavity wounds, and skin abrasions that have called for more advanced wound healing specialties in healthcare setups. Besides this, the spread of COVID-19 has profoundly impacted the wound care industry as it has led to the accumulation of massive surgeries piled up. However, an attempt to resolve those unmet needs in the future is likely to promote the adoption of such products in order to heal quickly.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 5% |
| Countries Covered | UAE, Saudi Arabia, Qatar, Bahrain, Kuwait, Oman |
| Key Companies Profiled | Smith & Nephew, 3M Gulf Ltd, Integra Lifesciences Middle East FZ-LLC, Medtronic PLC, Mundipharma Middle East FZ-LLC, ConvoTec, Coloplast, BSN Medical, Others etc |
| Unit Denominations | USD Million/Billion |
Moreover, the escalating investment by the government in the healthcare infrastructure has further encouraged research and development activities addressing severe wounds. What has again led to the advancement in lesion care is the inefficacy of the existing methods along with their side effects which, in turn, prompted the key payers to come up with upgraded healing products. Further, the growing geriatric population has necessitated wound care facilities that not just aid more accessible applications but enable faster recovery. However, with intensifying competition among the key market players, in terms of numerous dressings, allografts, and devices, the existing brands might need assistance keeping up the usual pace in the industry.
Market Dynamics
Key Driver: Higher Prevalence of Chronic Wounds Across GCC Countries
The Middle East is one of those regions where incidences of diabetes are pretty prominent. Per the International Diabetes Federation, around 12.3% of the UAE population, accounting for approximately 990,900 people, are affected by diabetes. Since diabetic individuals show apparent signs of chronic wounds, especially foot ulcers, the healthcare system across GCC countries has witnessed a massive burden of chronic wounds in the past few years. Such upscaling incidences of chronic wounds would require adequate treatment facilities and care, which would ultimately propel the industry in the coming years.
Possible Restraint: High Cost and Associated Side Effects
Developing chronic and acute wound care products has pushed up prices in the past few years. This surge in cost has negatively affected the growth of the market. In addition, the market expansion has been hampered in recent years by an increase in the overall cost of treating burn injuries and traumatic wounds. Moreover, side effects associated with wound care products, such as skin irritation, redness/swelling, edema, and mild or moderate pain at the affected site, may also refrain the further adoption of wound care products, thereby restraining the industry expansion in the coming years.
Growth Opportunity: Intensifying Healthcare Reforms Across the Region
Governments are fast adjusting by fostering investment in the area through equal opportunities, significant policy changes, and regulatory frameworks to draw private companies into the GCC while enabling them to build the scale needed to remain competitive and rewarded financially. As a result, the GCC countries continue to allocate a sizeable amount of their budgets to the region's projected increase in healthcare spending. Although the GCC governments may intend to continue to subsidize healthcare for their citizens primarily, the ever-increasing demand can be catered to by the private sector's intervention, thereby opening up new avenues for the market players.
Market Segmentation
Based on Applications,
Amongst all, the Diabetic Foot Ulcers segment acquired a considerable market share in the GCC Wound Care market in the historical period. The growth of the segment is accredited to the increasing incidence of diabetic foot ulcers, the rising government initiative to provide free treatment, easy access to hospitals, and burgeoning awareness regarding the pros of advanced wound care for treatment. Moreover, the surging adoption of wound care devices and the booming geriatric population is anticipated to drive the growth of the Wound Care market across GCC, says the report.
Based on Products,
Of them all, Foam Dressing is anticipated to exhibit a higher growth pace in the market during the forecast period. It owes principally to its unmatched features, such as non-linting and absorbent, that make it highly crucial in managing chronic wounds. What makes these kinds stand out is their variable thickness having a non-adherent layer that enables non-traumatic removal. When combined with compression therapy, foam dressing promotes smoother wound healing. These types of dressing have gained traction in recent years by offering thermal insulation and a moist environment.
Regional Projection
Geographically, the GCC Wound Care Market expands across:
Country-wise, UAE dominated the wound care industry in the historical period and is expected to prevail in the same trend in the coming years. The UAE government expenditure accounted for around AED 4.84 billion in 2020 healthcare, per the Telecommunications and Digital Health Regulatory Authority data 2020 on the United Arab Emirates. Besides, with a considerable increase of around 9 percent from the previous year, the diabetic foot and wound care surgeries performed by hospitals in the United Arab Emirates for UAE nationals accounted for a significant portion. Therefore, the large influx of investment in healthcare expenditure paired with awareness campaigns in the UAE is likely to encourage the expansion of the wound care industry across the GCC over the forecast period. For instance,
Recent Developments in the Market
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Frequently Asked Questions
A. The GCC Wound Care Market is projected to grow at a CAGR of around 5.0% during 2023-28.
A. Higher prevalence of chronic wounds across GCC countries is likely to drive the industry through 2023-28.
A. The leading players in the market are Smith & Nephew, 3M Gulf Ltd, Integra Lifesciences Middle East FZ-LLC, Medtronic PLC, Mundipharma Middle East FZ-LLC, ConvoTec, Coloplast, BSN Medical, and Others.
A. Diabetic Foot Ulcers is anticipated to emerge as an area of remunerative opportunities for the leading players in the GCC Wound Care Market during the forecast period.
A. The UAE would provide lucrative prospects for the GCC Wound Care Market in the years ahead.
A. Intensifying healthcare reforms across the region is likely to drive the market through 2028.
A. High cost and associated side effects might restraint the growth of the GCC Wound Care Market during 2023-28.
