The Advanced Wound Care Market size in the Asia Pacific has been estimated at USD 1.27 billion in 2019 and is projected to reach USD 1.61 billion by 2024 at a CAGR of 6.12% during the forecast period from (2018-2023).
Advanced wound care products are a boon to the people who are suffering from chronic wounds, which are time-consuming and expensive to treat. Technology has grown vastly in this area. Traditional wound care products are gradually being replaced by advanced wound care products due to their user-friendly nature and effectiveness in enabling faster healing.
APAC Advanced Wound care market caters to feasible and user-friendly products to the afflicted patients. Treatment in advanced wound care includes interventions therapies and products such as collagen products, foam dressings, hydrocolloids, alginate dressings, gauze composites, and hydrogels among others. As technology advances and becomes a much more viable option, the quality of life of patients afflicted with chronic wounds in Asia-Pacific rises.
The APAC Advanced Wound care market is mainly driven by Increasing Aging Population, Growing Incidences of Chronic Wounds and diabetes, Increasing Hospital costs, and policies undertaken by the government. Reimbursement issues and cost issues serve as factors that hinder the market in this region.
This report on APAC Advanced Wound care market has been segmented and sub-segmented into the following categories:
By Type: Dressings, Therapy Devices & Active wound care
In the APAC region, the dressing segment estimated to hold the majority of the shares in the market. However, active wound care is the fastest-growing segment in this category.
By Application: Skin Ulcers, Surgical Wounds & Burn Wounds
The surgical wounds segment leads the Europe market. However, skin ulcer is the fastest-growing segment in this category.
By End-User: In-patient services & Out-patient services
The inpatient facilities segment grabs the largest chunk of the APAC market. However, outpatient service is the fastest-growing segment in this category.
By Country: India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore and Rest of APAC
Regionally, 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 the Asian advanced wound care market. China and India, being the most populated countries in this region, contribute to the growing demand for the market. The Asian market holds huge potential for growth due to its 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.
The market in the 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.
Promising companies leading the APAC Advanced Wound Care Market are Acelity L.P., Inc., Smith and Nephew Plc., Mölnlycke Health Care, ConvaTec, Inc., Coloplast Corp., 3M Healthcare, Medtronic, Integra Lifesciences Corporation and Organogenesis Inc.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2.2 Analysis Design
2.3 Research Phases
2.3.1 Secondary Research
2.3.2 Primary Research
2.3.3 Econometric Modelling
2.3.4 Expert Validation
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5.1 By Type
5.1.2 Therapy Devices
5.1.3 Active wound care
5.2 By Application
5.2.1 Skin ulcers
5.2.2 Surgical wounds
5.2.3 Burn wounds
5.3 By End User
5.3.1 In-patient services
5.3.2 Out-patient services
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.3 3M Health care
8.5 Integra Lifesciences
8.6 Derma Sciences
8.8 Smith & Nephew
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.1 Market Outlook
10.2 Investment Opportunities