According to the report Asia Pacific Advanced Wound Care Treatment Market, published by Market Data Forecast, the Asia-Pacific market is projected to reach USD 1.24 billion by 2021, at a CAGR of 4.6% from 2016 to 2021.
Advanced wound care products provide a much-needed respite to the people who are suffering from long-lasting wounds, which take substantial amount of time to heal and are costly to treat. Technology in this area has grown manifold. Old-style wound care products are gradually being replaced by advanced wound care products due to their efficiency and usefulness in handling wounds by enabling quicker healing.
Treatment in advanced wound care comprises of interventions, therapies and products such as foam dressings, hydrocolloids, antimicrobial dressings, film dressings, alginate dressings, collagen products, gauze composites, and hydrogels among others. As technology evolves and becomes more viable, the quality of life of patients afflicted with chronic wounds improves exponentially. Suffering patients are offered solutions in Advanced Wound care by providing them with reasonably priced and readily accessible products which can be used conveniently.
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Asia Pacific Advanced Wound Care Market: Drivers & Restraints
Technological advances, increasing aging population, problems associated with ineffective traditional wound healing methods, growing Incidences of chronic wounds and diabetes, initiatives taken by the government, and a pressing need for swift and safer treatment of chronic wounds are the major driving factors of the market. Efforts to lower the length of hospital stay for reducing surgical healthcare expenses and the growing inclination towards products that enhance therapeutic outcomes in Asia-Pacific also boost the demand for the advanced wound care market. The High cost associated with the treatment and reimbursement issues for the new technologies serve as factors which hinder the Asia-Pacific advanced wound care market.
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Asia Pacific Advanced Wound Care Market: Segmentation
- Therapy devices
- Active wound care
- Skin ulcers
- Surgical wounds
- Burn wounds
By End User
- Inpatient services
- Outpatient services
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Asia Pacific Advanced Wound Care Market: Overview
People suffering from chronic wounds, specifically the ones who have had an ineffective experience with traditional wound healing methods are the major target customer base for the advanced wound care market. The dressing segment of the market currently holds the majority stake as it is the easier alternative. The therapy devices segment comes in second. Increasing R&D and awareness among consumers about therapy devices id driving the therapy devices segment. Active would healing is the latest segment in the market and is catching up fast.
Asia Pacific Advanced Wound Care Market: Region-wise Outlook
The Asia-Pacific region is geographically divided into China, India, Japan and South Korea, and others. 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 achieving wider significance. Japan currently tops the market of Asian advanced wound care market. China and India, being the most populated countries in this region, add to the growing demand for the market. The Asian market holds vast 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.
Key Questions Answered
Asia Pacific Advanced Wound Care Market: Key Players
The market in the Asia-Pacific region has more significance with trends showing that people desire more proficient solutions for their illnesses. This technology is particularly tending towards the elderly population in this region, for whom easily accessible healthcare is vital. The major companies dominating this market for its products and services in this region are are Acelity L.P., Inc. (U.S.), Integra Lifesciences Corporation (U.S.), ConvaTec, Inc. (U.S.), Smith and Nephew Plc. (U.K) (market share is around 15-20%), Organogenesis Inc. (U.S.), Medline Industries Inc. (U.S.), MPM Medical, Inc. (RBC Life Sciences, Inc.) (U.S.).
Reasons to buy Asia Pacific Advanced Wound Care Market Report:
- Regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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