Asia-Pacific advanced wound care (AWC) market is expected to grow at a CAGR of 10.4% during 2018 - 2025 period | Key players are 3M Company, Smith & Nephew plc, Coloplast A/S, Medtronic plc

According to a new report published by Allied Market Research, titled, Asia-Pacific Advanced Wound Care Market by Product, Application, End User, and Country: Opportunity Analysis and Industry Forecast, 20182025," the 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.

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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 a 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, an increase in adoption rates for these products. In addition, the 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, the high cost of advanced wound care products and unfavorable reimbursement policies in emerging countries are some of the factors that restrict market growth.

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 an increase in the incidence of chronic diseases such as diabetes.

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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.

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 the 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 the future.
Diabetic foot ulcers segment generated the highest revenue and is expected to continue its dominance in the future.

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, and 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.

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