Australia Wound Care Management Devices Market Size (2024 - 2029)

Advanced Wound Therapy Devices Market Analysis

The Australia Wound Care Management Devices Market size is estimated at USD 77.84 million in 2024, and is expected to reach USD 107.45 million by 2029, growing at a CAGR of 6.66% during the forecast period (2024-2029).

The COVID-19 pandemic caused severe issues with the provision of wound care. Due to several comorbidities, wound patients were more likely to experience COVID-19 effects; fewer hospital admissions and reduced diagnoses affected the biologics used in wound care. According to the International Journal of Medicine, published in July 2021, during the COVID-19 pandemic, patients who had recovered from an ulcer were switched to telephone consultations. The number of in-person visits for patients with an active DFU was decreased using a telephone consultation in between occasions of treatment. To reduce their exposure to COVID-19, some patients with active DFU preferred telephone consultations. Additionally, the risk of pressure ulcers is high in the COVID population. Thus, COVID-19 has significantly impacted the market studied.

Certain factors driving the growth of the market include rising incidences of chronic wounds, including venous ulcers, arterial ulcers, diabetic ulcers, and pressure ulcers, growing demand for faster recovery of wounds, and an increase in surgeries.

According to the Journal of Foot and Ankle Research published in July 2022, up to 50,000 Australians have diabetes-related foot ulcers (DFU), and another 300,000 might be at risk for developing DFUs. Chronic wounds remain a largely hidden and poorly supported problem in the Australian community. However, the awareness regarding the condition and the demand for fast recovery of these wounds have been observing a significant rise over the past few years, thus generating a significant opportunity for the growth of the market in the country.

The growing desire for faster wound recovery forces market participants to implement technological advancements that enhance wound care management in Australia. For instance, in December 2021, Western NSW Primary Health Network, Australian Unity, the University of Technology Sydney, CSIRO, and Coviu, Australia's top telehealth solution, worked together to develop a comprehensive digital toolkit for telehealth wound care. Such initiatives support market expansion in the country.

Growing awareness among individuals about wound care management further supports the market's growth. For instance, in July 2021, the most significant annual campaign of Wounds Australia, Wound Awareness Week 2021 (WAW21), ran to increase public awareness about chronic wounds and change public policy on wound care.

All aforementioned factors are expected to drive the growth of the market over the forecast period. However, the high cost of the procedure and lack of reimbursement restrain the market growth.

Advanced Wound Therapy Devices Industry Segmentation

Wound care refers to specific treatment types for pressure sores, skin ulcers, and other wounds that break the skin. New wound care products and devices are being marketed at a significant rate. Practitioners are making informed decisions about the use of medical devices for wound healing therapy. 

The Australian market for wound care management devices is segmented by product (advanced wound management, surgical wound care, and traditional/basic wound care). The report offers the value (in USD million) for the above segments.