Market Trends of Chile Wound Care Management Industry
This section covers the major market trends shaping the Chile Wound Care Management Devices Market according to our research experts:
Wound Care Devices are Expected to Exhibit a Steady Growth in the Chile Wound Care Management Market
Factors such as the increasing prevalence of diabetes and surgery in the country, coupled with launches of robotic surgical instruments, are expected to increase market growth. Increasing diabetes is one of the critical factors in segment growth. For instance, according to the World Bank collection, the diabetes prevalence (percentage of the population ages 20 to 79) in Chile was reported at 10.8 % in 2021. A press release published by the Teller Report in November 2021 stated that according to Chile's official data, by the end of 2020, there were 4770 centenarians (people with age above 100 years) in Chile, of which 66.5% were women, and 33.5% were men. But according to this trend, by 2046, Chile's centenarians will exceed 40,000. Thus, the accelerating aging population will increase segment growth as an older population is prone to injuries that require wound management.
Similarly, launches of robotic surgery equipment in the country are another factor in market growth. For instance, in June 2021, doctors used Medtronic plc's Hugo Robotic-Assisted Surgery (RAS) system on the first patient procedure at Clínica Santa Maria in Santiago, Chile. Thus, the abovementioned factors, such as increasing diabetes and product launches, are expected to increase segmental growth.
Chronic Wound Segment is Expected to Have a Significant Share in the Market Over the Forecast Period
Factors such as increasing hospital investment will boost the market growth. As per the OECD 2022 press release, the Chilean government spent 9.1% of its GDP on healthcare expenditure compared to 9.8% in the past year. Thus, such investment in healthcare will increase market growth as these are used for hospital construction which may require wound care products, leading to the development of the chronic wound segment. The market expansion for Chile's wound care management is more likely to be aided by healthcare expenses and the rising number of hospitals. For instance, in February 2022, ACCIONA was awarded by the Chilean Ministry of Public Works in conjunction with the Ministry of Health. The government will invest around USD 258 million in developing and maintaining one of the largest hospital complexes in northern Chile's Coquimbo area. The hospital will have 668 beds. Among these, critical patients will have 146 beds, medical-surgical operations will have 332 beds, obstetrics and gynecology will have 90 beds, pediatrics will have 48 beds, neonatal care will have 18 beds, and adult psychiatry will have 34 beds. It will increase the number of surgeries in the country. As a result, increased hospital numbers and spending on healthcare will drive up demand for wound care management, resulting in significant market growth in the studied period.
