Philippines Wound Care Market Key Players : 3M Company, Smith & Nephew Plc., Coloplast A/S, Medtronic plc, Acelity L.P. Inc., ConvaTec Healthcare B S..r.l., Mlnlycke Health Care AB

Philippines Wound Care Market size was valued at $41 million in 2015, and is projected to reach $64 million by 2022, registering a CAGR of 6.4% during the forecast period. Wound care refers to specific types of treatment for pressure sores, skin ulcers and other wounds that break the skin. This can be done with the help of traditional as well as advanced wound care products. Advanced wound care is emerging as a standard solution treat chronic wounds, including pressure ulcers, diabetic foot ulcers, venous leg ulcers and arterial ulcers. Traditional wound care products are being increasingly substituted with advanced wound care products due to their efficiency and effectiveness to treat wounds thereby enabling faster healing.

The list of key players profiled in the report include 3M Company, Smith & Nephew Plc., Coloplast A/S, Medtronic plc, Acelity L.P. Inc., ConvaTec Healthcare B S..r.l., Mlnlycke Health Care AB (A subsidiary of INVESTOR AB), BSN Medical GmbH, Alliqua BioMedical, Inc., Integra LifeSciences Holdings Corporation, Mundi Pharma, Bbraun, Urgo Medical, Mebo China (Mebo International Group), and Lohmann & Rauscher.

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The growth of the market is attributed to the rapidly ageing population & favorable demographics; rise in incidence of diabetes, obesity, and chronic conditions; technological advancements to deal with complex wounds; and increase in awareness to reduce healthcare costs. However, reluctance in adoption of new technologies restrain the growth of the market. Increased focus towards advanced treatment protocols and significant unmet needs in wound care act as the growth opportunities for the market.

Segment Review

Advanced wound care products have emerged as a novel approach in wound management. These advanced products promote faster healing of wounds; and hence, have been gaining an edge over traditional wound care and closure products. Continuous advancements in advanced wound care and closure products are expected to boost the market growth during the forecast period. Rising incidence of chronic wounds due to diabetes and reduced hospital stays are the key driving factors of the market. In addition, launch of wide range of products by companies to improve therapeutic outcomes has boosted the market growth.

Wound care management finds applications in treatment of chronic as well as acute wounds. The chronic wound care is segmented into pressure ulcers, diabetic foot ulcers, venous leg ulcers, and arterial ulcers. The diabetic foot ulcer and arterial ulcer segments are attractive areas of investment in the Philippines wound care market.

Key Benefits for Stakeholders

• The report provides an in-depth analysis of the advanced wound care market across major geographies and the estimated revenues generated during the forecast period.
• Quantitative analysis of the current trends and future estimations is provided to help the manufacturers of advanced wound care products to analyze the market.
• The entire projections in the report are based on analysis of the current market trends and highlight the market potential for the period of 2016-2022, in terms of value.
• The report conducts extensive analysis of the industry by closely following key product positioning and monitoring the top contenders within the market framework.
• The report also provides quantitative and qualitative market trends to help the stakeholders to understand the situations prevailing in the market.

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