Press release
Advanced Wound Care (AWC) Market Business Growth Statistics and Key Players Insights: 3M Company, Smith & Nephew plc, Coloplast A/S, Medtronic plc, Acelity L.P. Inc., Cardinal Health, Inc.
Asia-Pacific Advanced Wound Care (AWC) Market accounted for $1,658 million in 2017, and is expected to reach $3,655 million by 2025, growing at a CAGR of 10.4% from 2018 to 2025. Japan was the highest contributor in the Asia-Pacific advanced wound care market in 2017, whereas, China is expected to witness the highest growth rate during the forecast period.The therapy device segment was the highest revenue contributor in 2017. Advanced wound care therapies are specialized treatments for chronic or non-healing wounds and are majorly opted when standard wound care has failed. Advanced wound care products mainly focus on maintaining a stable temperature around the wound, protecting the wound from infection, relieving pain while changing dressing, facilitating oxygen flow, and removing dead tissue to prevent scarring and thus, allow new cells to emerge.
The major factors that boost the market growth include changes in lifestyles that lead to increased diabetic wounds, pressure ulcers, and technological advancements followed by favorable reimbursement scenario, and increase in adoption rates for these products. In addition, presence of high unmet medical needs and rise in preference for products that enhance therapeutic outcome are anticipated to drive the demand for advanced wound care devices. However, high cost of advanced wound care products and unfavorable reimbursement policies in the emerging countries are some of the factors that restrict the market growth.
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The key players profiled in the report include
• 3M Company
• Smith & Nephew plc
• Coloplast A/S
• Medtronic plc
• Acelity L.P. Inc.
• Cardinal Health Inc.
• ConvaTec Group Plc
• Essity Aktiebolag (BSN Medical GmbH)
• B. Braun Melsungen AG
• Mlnlycke Health Care AB.
Other prominent players in the value chain include Hollister Incorporated, Medline Industries, Inc., Johnson & Johnson, Baxter International, Triage Meditech, Integra Lifesciences, and Derma Sciences Inc
Based on product type, the active wound care segment is the most lucrative market, growing at a high CAGR. This is attributed to the low toxicity and biocompatibility characteristics of the products and increase in incidence of chronic diseases such as diabetes.
Based on end user, the community health service centers segment is the major contributor toward the Asia-Pacific AWC market in 2017 and is projected to maintain the same trend throughout the forecast period. The rise can be attributed to the increase in the adoption rate of high technology solutions and the availability of wide range of AWC products under one roof coupled with government reimbursements.
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Key Findings of the Study
• Chronic wounds segment is projected to grow at the highest rate during the analysis period.
• Japan dominated the Asia-Pacific advanced wound care market in 2017 and is projected to continue its dominance in future.
• Growth factor segment is expected to experience high growth in the Asia-Pacific region during the forecast period.
• Exudate management segment was the largest contributor toward the Asia-Pacific AWC market in 2017 and is projected to continue its dominance in future.
• Diabetic foot ulcers segment generated the highest revenue and is expected to continue its dominance in future.
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