Asia Pacific Advanced Wound Care Market Overview
Advanced wound care products are boon to people who are suffering from chronic wounds, which are time-consuming & expensive to treat. Technology has made tremendous progress in this area. Traditional wound care products are being progressively replaced by advanced wound care products because of their user-friendly nature and their effectiveness in enabling faster healing.
Advanced wound care market caters feasible and user-friendly products to the afflicted patients. The treatment of advanced wound care includes therapies and products such as collagen products, foam dressings, hydrocolloids, alginate dressings, gauze compounds and hydrogels, among others. As technology advances and becomes a much more viable option, the quality of life of patients with chronic wounds in the Asia Pacific is increasing.
Traditional and advanced wound care products are used to treat acute and chronic wounds. Chronic wounds are those that take substantial time to heal and are expensive to treat. Advanced wound treatment is becoming a standard solution for the treatment of such wounds. Traditional wound care products are increasingly being replaced by advanced wound care products due to their effectiveness in wound management by allowing rapid healing
Asia Pacific Advanced Wound Care Market Size
According to the latest research report, The Asia Pacific advanced wound care (AWC) market accounted for USD 1,280 Million in 2018, and is expected to reach USD 2,063 Million, growing at a CAGR of 7% from during the forecast period 2018 to 2025.
Growth Opportunities, Challenges and Restraints - Asia Pacific Advanced Wound Care Market
Market growth is attributed to the rapid increase in the prevalence of chronic diseases such as diabetes, changes in lifestyles and attempts to reduce surgical costs by reducing the length of hospital stays. Other factors, such as a favorable payment scenario, an increase in public health spending and an increasing trend in wound care products that improve therapeutic outcomes, are driving the growth of the advanced wound care market. However, the high cost of these products and the lack of knowledge, particularly in underdeveloped countries, are the factors that should slow down the growth of the market.
Some other factors that boost the market growth include changes in lifestyles that lead to increased diabetic wounds, pressure ulcers, and technological advancements followed by favorable reimbursement scenario, and increase in adoption rates for these products. In addition, the presence of high unmet medical needs and rise in preference for products that enhance therapeutic outcome are anticipated to drive the demand for advanced wound care devices. However, unfavorable reimbursement policies in the emerging countries of this region are some of the factors that restrict market growth.
Geographical Insights of Asia Pacific Advanced Wound Care Market
Asia Pacific region is segmented into China, India and Japan. Asia is the fastest growing market because of the lower bed capacity in hospitals and the inclination towards homecare treatment. Hence, the need for faster wound healing is attaining wider significance. Japan currently leads the market of advanced wound care in APAC. China and India, being the most populated countries in this region, contribute to the growing demand for the market. Asian market holds huge potential for growth due to a higher population base, increasing diabetic population, growing patient awareness and higher disposable incomes. However, lack of awareness and price sensitivity has considerably hindered the growth of the market in this region.
Asia Pacific region has more significance with trends showing that people desire more efficient solutions for their illnesses. This technology is especially inclined towards the elderly population in this region, for whom easily accessible healthcare is paramount.
Few of the leading companies dominating the Market profiled in the report are
- 3M Company
- Smith & Nephew plc
- Coloplast A/S
- Medtronic plc
- Acelity L.P. Inc.
- Cardinal Health Inc.
- ConvaTec Group Plc
- Essity Aktiebolag (BSN Medical GmbH)
- B. Braun Melsungen AG
- Mlnlycke Health Care AB
Other prominent players in the value chain include
- Hollister Incorporated
- Medline Industries Inc.
- Johnson & Johnson
- Baxter International
- Triage Meditech
- Integra Lifesciences
- Derma Sciences Inc.
This research report includes following segmentation for the Asia Pacific Advanced Wound Care Market size and forecast
Asia Pacific Advanced Wound Care Market - By Product
- Non-Silver Dressings
- Collagen Dressings
- Exudate Management
- Hydrocolloid Dressings
- Foam Dressings
- Hydrogel Dressings
- Alginate Dressings
- Therapy Devices
- Negative pressure wound therapy (NPWT)
- Oxygen and hyperbaric oxygen equipment
- Electromagnetic therapy devices
Asia Pacific Advanced Wound Care Market - By Application
- Chronic Wounds
- Acute Wounds
Asia Pacific Advanced Wound Care Market - By End User
- Community Health Service Centres
Asia Pacific Advanced Wound Care Market – By Region
- South Korea