Market Trends of Canada Wound Care Management Industry
This section covers the major market trends shaping the Canada Wound Care Management Market according to our research experts:
Pressure Ulcer is Expected to Witness Strong Growth Over the Forecast Period
A pressure ulcer is a localized injury to the skin or underlying tissue, as a result of pressure, or pressure in combination with shear and or friction.
In Canada, various wound care associations work closely to provide class-leading treatment for pressure ulcers, specifically hospital-acquired pressure ulcers. As per the report published by the Canadian Patient Safety Institute in 2021 titled, 'Hospital Harm Improvement Resource: Pressure Ulcer,' the net hospitalization cost of hospital-acquired pressure ulcers in the country is approximately CAD 44,000 to CAD 90,000. Hence, Accreditation Canada has included pressure ulcers in Required Organizational Practices (ROP) in its 2020 handbook. This indicates that there is a growing concern across Canada about pressure ulcers and the wound-related associations are working towards it which is expected to fuel the growth of the segment studied.
Additionally, as per the report published by Foundations of Best Practice for Skin and Wound Management: Wounds Canada in 2020, in the last decade, there has been a drastic decrease in the prevalence and incidence of pressure ulcers in Canada. As of the year 2020, there was up to 57% reduction in the prevalence of pressure ulcers whereas the incidence is decreased by 71% in the last 10 years. The Pressure Ulcer Awareness and Prevention Program (PUAP) which is conducted in Canada since 2006 is a continuous quality improvement (CQI) program implemented in Canadian institutions. This program has helped significantly to reduce the burden of pressure ulcers across the hospitals in Canada. Hence, with the initaitives from the government for managing pressure ulcers and the high number of people suffering from pressure ulcers, the segment is expected to witness strong growth over the forecast period.
Therefore, owing to the above-mentioned factors, it is observed that the segment will witness healthy growth over the forecast period.