Market Trends of Australia Wound Care Management Devices Industry
This section covers the major market trends shaping the Australia Wound Care Management Devices Market according to our research experts:
Negative Pressure Wound Therapy (NPWT) System is Expected to Dominate the Market Over the Forecast Period
Negative-pressure wound therapy (NPWT) is a therapeutic technique using a suction dressing to remove excess exudation and promote healing in acute or chronic wounds and second-and third-degree burns. The segment is expanding as the prevalence of burns and chronic wounds both rise. According to Wound Australia Report in January 2022, over 420,000 Australians experience a persistent wound each year. The average patient with persistent wounds pays over USD 4,000 out of pocket. Hence, the high expenditure associated with chronic wounds is expected to propel the demand for cost-effective wound management devices in the coming years.
NPWT applies sub-atmospheric pressure inside a closed dressing to create a positive pressure that draws fluid and infection from a burn wound's surface. The pediatric burn centers in Australia treat more than 4000 kids for acute burns each year. Compared to traditional silver dressings, NPWT for burns has demonstrated faster healing times, an average of 22%, 60% lower referral risk for long-term scar treatment, and lower costs per patient. Thus, the benefits of NPWT in the treatment of burns and chronic wounds are anticipated to drive the growth of the segment.
People over 65 are more susceptible to chronic wounds because of age-related problems; thus, with the growing aging population in the country, the burden of chronic wounds is expected to increase over the forecast period. For instance, according to the Australian Institutes of Health and Welfare, in November 2021, the percentage of people 65 and older in Australia was 16.2%. Australians over the age of 65 will make up a huge portion of the population by 2066, reaching a peak of about 20.7%. Hence, the increasing burden of chronic wounds and the growing adoption of these products are the major factors propelling the growth of the wound care market.
Foam Dressing is Expected to Witness Significant Growth During the Forecast Period
Foam dressing is used as a primary and secondary dressing for various types of wounds to provide absorption and insulation. The presence of various companies providing foam dressings in Australia and the rising burden of chronic wounds are some of the leading factors contributing to the segment's growth.
Some of the key companies operating in the Australia foam dressing segment include Smith and Nephew, 3M, Hartman AG, inHealth Group, and Cardinal Health, among others. One of the leading suppliers of foam dressing in Australia includes Vital Medical Supplies. As per the data from the Journal of Foot and Ankle Research published in May 2022, the Australian guidelines on wound healing interventions include foam dressing as a crucial wound management tool in a heavily exuding neuropathic diabetic foot ulcer. The data also stated that foam dressing is widely used across Australian hospitals for the management of wounds with heavy drainage.
Per the Wounds Australia 2022 report, over USD 3 billion from the nation's aged care and healthcare budgets is spent on chronic wounds. Per the data from the Australian Institute of Health and Welfare updated in November 2022, there was around 33,600 hospitalization in Australia due to injuries. The data indicated that there is a growing burden of injuries in the country, accounting for around 8.4% of the total burden of diseases in Australia. Hence, considering the support and initiatives proposed by the government and the rising burden of injuries in the country, the demand for wound care products in Australia is likely to witness growth over the forecast period.
