Asia Pacific Wound Care Market Size, Share & Industry Analysis, By Type (Advanced Wound Dressings, {Antimicrobial Dressings, Alginate Dressings, Foam Dressings, Hydrocolloid Dressings, and Others}, Traditional Wound Care Products, Negative Pressure Wound Therapy, Bioactives {Biological Skin Equivalents, Growth Factors, and Others}, and Others), By Application (Chronic Wounds {Diabetic Foot Ulcers, Pressure Ulcers, Venous Leg Ulcers, and Others} and Acute Wounds {Surgical Wounds and Burns}), By End User (Hospitals, Clinics, Homecare Settings, and Others), and Regional Forecast, 2023-2030

Asia Pacific is the fastest-growing region in the global wound care market. It is projected to record a CAGR of 7.2% during the forecast period. The global market for wound care is projected to grow from USD 18.51 billion in 2022 to USD 30.04 billion by 2030.

The rising government initiatives to raise awareness among the population about the benefits of early and effective management of wounds by organizing campaigns and educating them is anticipated to contribute to the Asia Pacific wound care market growth. For instance, in January 2022, Wounds Australia proposed a fund of USD 1.5 million to create a digital campaign on the prevention and treatment of chronic wounds. Similarly, supportive initiatives by the governments of different nations in the region are anticipated to drive the market growth in Asia Pacific in the forthcoming years.

This report on the Asia Pacific market covers the following countries/regions – India, China, Japan, Australia, Southeast Asia, and the Rest of Asia Pacific.

LATEST TRENDS

Manufacturers Expanding their Regional Presence Will Increase Adoption of Wound Care Products

Many manufacturers are focusing on strengthening their market positions in Asia Pacific by receiving regulatory approvals for their products and introducing them to the market. Such market expansion strategies are anticipated to provide ample opportunities for the key players to strengthen their geographical presence in the developing nations of the region.

• For instance, in July 2021, Inotec AMD Ltd. entered an exclusive distribution partnership with InterMed Medical to expand its wound care market in Australia and New Zealand. InterMed Medical was expected to exclusively distribute the company’s oxygen wound therapy product, NATROX, in Australia and New Zealand.

DRIVING FACTORS

Rising Burden of Chronic and Acute Wounds to Propel Market Growth

Countries in Asia, such as China, India, and others have a vast geriatric population suffering from various comorbidities, such as diabetes and other severe chronic disorders. This increases their risk of developing wounds in their lifetime. The rising prevalence of chronic wounds among the patient population is expected to increase the demand for wound care products in the upcoming years, thereby driving the market share.

• For instance, according to a research article published in NCBI in 2020, in India, 4.54% of newly diagnosed diabetic patients were found to suffer from diabetic foot ulcers.

RESTRAINING FACTORS

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Delay in Diagnosis of Chronic Wounds to Limit Adoption of Wound Care Products

Chronic wounds, such as venous ulcers, pressure ulcers, diabetic foot ulcers, and others progress slowly and often remain undiagnosed for a long time. The delay in diagnosing these chronic wounds leads to amputations and surgeries. The incidence of delayed diagnosis is increasing in developing countries due to minimal knowledge, lack of awareness, and limited access to healthcare facilities. Furthermore, lack of proper guidelines for wound care and management in some countries is also expected to impede the adoption of these products, thus restraining the market growth.

According to a research study published in NCBI in 2021, the annual incidence of diabetic foot ulcers in China among the diabetic population was about 8.1%. Further, the amputation rate was about 5.1% of the patients suffering from diabetic foot ulcers. The increase in amputations in China is owing to the rise in delayed patient visits, inadequate treatment outcomes leading to patient dissatisfaction, and other factors.

KEY INDUSTRY PLAYERS

Strong Presence of Major Players to Boost the Asia Pacific Market Growth

The market in Asia Pacific is competitive with the presence of global manufacturers and emergence of regional players, such as Chinmed, Healthium Medtech Limited, and others. Smith & Nephew, 3M, and ConvaTec Group PLC are some players who held a leading position in the Asia Pacific region. Wide product portfolios and a strong foothold in the region are a few factors contributing to their market revenue.

• For instance, in June 2022, Smith & Nephew, a medical device company specializing in orthopedics, advanced wound management, sports medicine, and ENT business, opened a manufacturing facility in Malaysia.

Further, regional players are also focusing on technological advancements and introducing novel wound care products in the domestic market.

LIST OF KEY COMPANIES PROFILED:

• Smith & Nephew (U.K.)


• ConvaTec Group PLC (U.K.)


• 3M (U.S.)


• Mölnlycke Health Care AB (Sweden)


• Healthium Medtech Limited (India)


• Integra LifeSciences (U.S.)


• Axio Biosolutions Pvt. Ltd (India)


• Triage Meditech Pvt. Ltd. (India)


• Winner Medical Co., Ltd. (China)


• Chinmed (China)


• Coloplast A/S (Denmark)

KEY INDUSTRY DEVELOPMENTS:

• October 2022: Healthium Medtech Limited launched TRUSHIELD NXT, a surgical wound dressing with the company’s patented infection technology, and 3D hydro cellular substrate for wound protection.


• September 2022: MiMedx Group, Inc. received reimbursement approval from the Japanese Ministry of Health, Labor, and Welfare (JMHLW) for EPIFIX to treat diabetic and venous ulcers.


• March 2022: Advanced Oxygen Therapy Inc. received approval from the Chinese National Medical Products Administration (NMPA) for cyclically pressurized wound therapy intended to treat diabetic foot ulcers among patients.

REPORT COVERAGE

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The market research report provides qualitative and quantitative insights on the market and a detailed analysis of the regional market’s size & growth rate for all possible segments. Along with the market forecast, the research report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in the report are an overview of the number of procedures, price analysis of types of products, regulatory scenario in key countries, pipeline analysis, new product launches, key industry developments – mergers, acquisitions & partnerships, and the impact of COVID-19 on the market.

Report Scope & Segmentation