The Advanced Wound Care Market size in the Asia Pacific has been estimated at USD 1.35 billion in 2022. It is projected to reach USD 1.81 billion by 2027, at a CAGR of 6.12% during the forecast period.
Advanced wound care products are a boon to people suffering from chronic wounds, which are time-consuming and expensive to treat. Technology has grown vastly in this area. Advanced wound care products are gradually replacing traditional 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 intervention therapies and products such as collagen products, foam dressings, hydrocolloids, alginate dressings, gauze composites, and hydrogels. As technology advances and becomes a much more viable option, patients' quality of life afflicted with chronic wounds in Asia-Pacific rises.
The APAC Advanced Wound care market is mainly driven by the increasing aging population, growing incidences of chronic wounds and diabetes, increasing hospital costs, and government policies. Rising prevalence to improve the quality of healthcare services is propelling the demand of the market. In addition, the increasing occurrences rate of road accidents and injuries elevates the demand of the APAC advanced wound care market. Advanced wound care techniques are efficient in healing the wound in less time, promoting the market growth rate. Increasing geriatric people and a rising number of the diabetic patient pool are anticipated to fuel the market's demand. For instance, more than 60% of the population is suffering from diabetes in the Asia Pacific. Also, increasing prominence to reduce the risk of infections in the wound is likely to propel the market growth. Furthermore, these wound care techniques propel the patient's satisfaction, another factor for the market growth. In addition, increasing incidences of hard-to-heal wounds are anticipated to bolster the demand of the market.
Reimbursement issues and cost issues serve as factors that hinder the market in this region. Furthermore, a lack of complete knowledge over the availability of wound care products in some areas is slowly restraining the market's growth rate. Therefore, before traditional wound care techniques, especially in rural areas, hamper the market demand in the Asia Pacific.
This research report on APAC Advanced Wound care market has been segmented and sub-segmented into the following categories:
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 broader significance. Japan currently leads the market of the Asian advanced wound care market. However, being the most populated countries in this region, China and India contribute to the growing demand for the market. The Asian market holds enormous potential for growth due to its higher population base, increasing diabetic population, growing patient awareness, and higher disposable incomes. However, lack of knowledge and price sensitivity has considerably hindered the market's growth in this region.
The Asia-Pacific region market has more significance, with trends showing that people desire more efficient solutions for their illnesses. In addition, this technology is especially inclined towards the elderly population in this region, for whom easily accessible healthcare is paramount.
The Japanese advanced wound care market is forecasted to be playing a promising role in the APAC market during the forecast period. Increasing discretionary income and growing knowledge of the advantage’s sophisticated wound care dressing provider boosts this region's market growth. In addition, increasing the elder people population as the recovery injuries takes more time, especially in older people who fuel the growth in this region. Moderate development of diabetes, the primary key for foot ulcers in Japan.
The Advanced Wound Care Market in China is estimated to have a profitable growth due to the growing stipulation for quick recovery of wounds, the ever-increasing occurrence rate of constant injuries and rising number of surgeries, and increasing demand for wound care management, particularly foot ulcers, among the diabetic patient population. In addition, one million people suffer significant wounds caused due to road accidents. The introduction of new products with the latest technologies and growing demand for approvals of innovative products are surging the market's need.
The advanced wound care market in India is expected to be the fastest-growing region due to the collective growth of diabetes and the growing number of people with diabetic wounds. In 2017, 73 million people were diagnosed with diabetes, and this figure is projected to reach around 134.4 million by 2045.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the APAC Advanced Wound Care Market are Acelity L.P., Inc., Smith and Nephew Plc., Mölnlycke Health Care, ConvaTec, Coloplast Corp., 3M Healthcare, Medtronic, Integra Lifesciences Corporation, and Organogenesis Inc.
As per our research report, the advanced wound care market in the APAC region is estimated to be growing at a CAGR of 6.12% from 2022 to 2027.
In 2021, Japan accounted for the most significant share in the APAC advanced wound care market.
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