Pune, India, March 22, 2021 (GLOBE NEWSWIRE) -- The Asia Pacific advanced wound dressings market size is projected to reach USD 1,644.8 million by 2027, exhibiting a CAGR of 6.2% during the forecast period. Fortune Business Insights™ shares this information in its report, titled “Asia Pacific Advanced Wound Dressings Industry, 2020-2027”. As per the report, the value of the market stood at USD 1,051.2 million in 2019.
High Population of Diabetic Patients to Boost Demand in China
China Is estimated to dominate the Asia Pacific advanced wound dressings market during the forecast period. The rapidly increasing population of patients suffering from diabetes is projected to strengthen the demand for advanced wound dressings in the country. For instance, according to the International Diabetes Federation (IDF), in 2019, the country recorded the highest number of diabetic cases in the world with nearly 116 million active cases.
The market in India is anticipated to showcase eminent growth owing to the presence of key players, such as BSN Medical, in the country. In addition, the improving healthcare spending in the country is expected to propel the demand for wound dressings, further enhancing the country’s market share.
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High Risk of Chronic Wounds due to Prevalence of Several Diseases to Drive Growth
The rising prevalence of chronic wounds, such as diabetic foot ulcers, pressure ulcers, venous leg ulcers, and other issues caused by several diseases, are estimated to drive the Asia Pacific advanced wound dressings market growth. For instance, according to a study published by the International Society for Pharmacoeconomics and Outcomes Research, 15% of the diabetic patients suffer from diabetic foot ulcers in India. In addition, rapidly growing cases of diabetes among patients are estimated to strengthen the demand for advanced wound dressings. However, the reimbursement policies for wound dressing do not cover the whole cost of the treatment. On the other hand, the cost associated with these dressings is quite high in the region compared to other parts of the world. Hence, such factors may limit the market growth.
The Asia advanced wound dressings market has witnessed a decline in growth amid the COVID-19 pandemic. Nationwide lockdowns and stringent social distancing norms by governments across the world have led to limited hospital visits during the initial phase. This has adversely affected the overall demand. The market stood at USD 1,081.6 million in 2020, experiencing a declining growth of 2.9% in 2020 compared to the average year-on-year growth during 2016-2019.
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We have categorized the market on the basis of type, end user, and geography. In terms of type, the market is divided into alginate dressings, hydrogel dressings, collagen dressings, film dressings, hydrocolloid dressings, antimicrobial dressings, foam dressings, and others.
Based on the end user, it is fragmented into hospitals, clinics, and home care settings. On the basis of geography, the market is divided into China, Japan, India, Australia, Taiwan, Indonesia, and the Rest of Asia Pacific.
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List of Key Companies Covered in the Asia Pacific Advanced Wound Dressings Market Report:
• Medline Industries, Inc. (Northfield, U.S.)
• Mölnlycke Health Care AB (Gothenburg, Sweden)
• Coloplast A/S (Humlebaek, Denmark)
• 3M (Maplewood, U.S.)
• Smith & Nephew (London, U.K.)
• ConvaTec Group PLC (Reading, U.K.)
• BSN medical (Essity) (Hamburg, Germany)
• Cardinal Health (Dublin, U.S.)
• Chinmed (Ningbo, China)
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Some major points from Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Key Indications, in Key Countries, 2019
- Economic Cost Burden of Chronic Wounds, in Key Countries
- Product Mapping by Key Players
- Pricing Analysis, for Key Brands/ Key Players in Key Countries
- Impact of COVID-19 on the Asia Advanced Wound Dressings Market
- Key Industry Developments (Mergers, Acquisitions, etc.)
- Asia Pacific Advanced Wound Dressings Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Alginate Dressings
- Hydrogel Dressings
- Collagen Dressings
- Film Dressings
- Hydrocolloid Dressings
- Antimicrobial Dressings
- Foam Dressings
- Market Analysis, Insights and Forecast – By End-User
- Homecare Settings
- Market Analysis, Insights and Forecast – By Country/ sub-region
- Competitive Analysis
- Asia Pacific Market Share Analysis (2019)
- Company Profiles (Overview, Products & Services, SWOT Analysis, Recent Developments, Strategies, Financials (Based On Availability))
- Medline Industries, Inc.
- Mölnlycke Health Care AB
- Coloplast Corp
- Smith & Nephew
- ConvaTec Group plc
- BSN medical (Essity)
- Cardinal Health
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