Mexico Wound Care Management Market Size (2024 - 2029)

The Mexico Wound Care Management Devices Market is anticipated to experience significant growth, driven by an increasing prevalence of chronic wounds, ulcers, and diabetic conditions, particularly due to the rising diabetes rates in the country. The market's expansion is further supported by the aging population, which is at a higher risk for chronic wounds. Despite the disruptions caused by the COVID-19 pandemic, which impacted healthcare delivery, the market is expected to recover and grow, reflecting the need for enhanced wound care management solutions.

Market Size of Mexico Wound Care Management Industry

Market Snapshot
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.70 %
Market Concentration Low

Major Players

Mexico Wound Care Management Market Major Players

*Disclaimer: Major Players sorted in no particular order

Mexico Wound Care Management Devices Market Analysis

The Mexico Wound Care Management Market is expected to register a high CAGR of 6.7% during the forecast period.

COVID-19 created significant disruptions in health systems. The delivery of wound care, which should be considered a significant medical service, has altered as a result of the necessity. Rather than eliminating wound healing, the main goals of wound care during this period were to minimize serious wound complications and, where possible, reduce hospitalization and surgery. Wound care before the pandemic aimed to heal patients' wounds with a mix of antibiotics, sufficient dressing, and proper loading. Additionally, to relieve the pressure on public hospitals, the Ministry of Health announced on April 8th, 2020, a collaboration plan with a network of 250 private hospitals (with 3,175 available beds) to increase medical attention capacity for non-COVID-19 public-sector patients. Hence, During the COVID-19 pandemic, the studied market was severely impacted and is expected to regain the growth in coming years.

Generally, the wound care management market in Mexico is expected to grow due to the increasing incidences of chronic wounds, ulcers, and diabetic ulcers. There is also an increasing prevalence of diabetes, which is Mexico's primary cause of diabetic foot ulcers. According to International Diabetes Federation (IDF) Diabetes Atlas 2021, In 2021, an estimated 14 million adults in Mexico are living with diabetes - a rise of 10% in the past two years. Additionally, as per the above mentioned source, 11 million adults in the country have impaired glucose tolerance (IGT), which places them at high risk of developing type 2 diabetes. Diabetes-related health expenditure in Mexico has reached USD 20 billion, putting it in the top ten countries or territories with the highest total health expenditure. Under half (47.5%) of people living with diabetes in the country are undiagnosed. Thus, the rising prevalence of diabetes is expected to rise in the diabetes foot population, thereby boosting market growth.

The key contributors to the market growth are the increasing older population and the growing burden of chronic wounds. According to United Nations estimates for 2020, the population aged 60 and up reached 14.5 million in 2020, accounting for 11% of the total population. This group is made up of 55% women and 45% men. Furthermore, it is predicted that by 2050, one out of every four Mexicans will be 60 or older, amounting to almost 40 million people. The older population is at high risk of acquiring chronic wounds. Hence, this escalation is developing the need to analyze, review and forecast the growth of the wound care management market. Thus, all the above-mentioned factors are expected to boost market growth over the forecast period. However,

Mexico Wound Care Management Devices Industry Segmentation

Wounds are classified as acute and chronic, acute wound occurs when the skin and underlying tissues are damaged where as chronic wounds are those which takes a lot of time heal. Mexico Wound Care Management market is segmented By Product (Wound Care (Dressings, Wound Care Devices, Topical Agents, Others), Wound Closure (Suture, Surgical Staplers, Others), and Wound Type ( Acute Wound, Chronic Wound). The report offers the value (in USD million) for the above segments.

By Product
Wound Care
Dressings
Wound Care Devices
Topical Agents
Others
Wound Closure
Suture
Surgical Staplers
Others
Wound Type
Chronic Wound
Acute Wound
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Mexico Wound Care Management Market Size Summary

The Mexico wound care management devices market is poised for significant growth, driven by an increasing incidence of chronic wounds, ulcers, and diabetic foot ulcers. The market's expansion is largely attributed to the rising prevalence of diabetes, which is a major health concern in Mexico and a primary cause of diabetic foot ulcers. The COVID-19 pandemic had a substantial impact on the market, disrupting health systems and altering wound care delivery. However, the market is expected to recover and grow, supported by the collaboration between public and private healthcare sectors to manage non-COVID-19 patients. The aging population in Mexico, which is at a higher risk of chronic wounds, further contributes to the market's growth trajectory.

The market is characterized by a competitive landscape with several major players, including 3M Company, Baxter International, Coloplast, ConvaTec Group PLC, and others, who are continuously innovating to meet the evolving healthcare needs. The demand for dressings is anticipated to rise due to the high prevalence of diabetic foot ulcers and the growing number of surgeries in the country. Regulatory approvals for new medical technologies, such as BioElectronics Corporation's RecoveryRx device and SANUWAVE Health's dermaPACE System, are expected to enhance market offerings. These factors collectively indicate a robust growth outlook for the wound care management market in Mexico over the forecast period.

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Mexico Wound Care Management Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Incidences of Chronic Wounds, Ulcers and Diabetic Ulcers

      2. 1.2.2 Increase in Volume of Surgical Procedures

      3. 1.2.3 Increase in Aging Population

    3. 1.3 Market Restraints

      1. 1.3.1 High Treatment Cost

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Product

      1. 2.1.1 Wound Care

        1. 2.1.1.1 Dressings

        2. 2.1.1.2 Wound Care Devices

        3. 2.1.1.3 Topical Agents

        4. 2.1.1.4 Others

      2. 2.1.2 Wound Closure

        1. 2.1.2.1 Suture

        2. 2.1.2.2 Surgical Staplers

        3. 2.1.2.3 Others

    2. 2.2 Wound Type

      1. 2.2.1 Chronic Wound

      2. 2.2.2 Acute Wound

Mexico Wound Care Management Market Size FAQs

The Mexico Wound Care Management Market is projected to register a CAGR of 6.70% during the forecast period (2024-2029)

Johnson & Johnson, Integra LifeScience Corporation, Baxter International, 3M Company and Smith & Nephew are the major companies operating in the Mexico Wound Care Management Market.

Mexico Wound Care Management Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)