Japan holds the largest market share in the Asia-Pacific advanced wound care market during the forecast period of 2019 - 2025
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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 the 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.
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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.
Based on the 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.
3: MARKET OVERVIEW
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top investment pockets
3.3. Porters Five Forces analysis
3.4. Market Share Analysis
3.5. Market Dynamics
188.8.131.52. The rapidly aging population and favorable demographics
184.108.40.206. Technological advancements to deal with complex wounds
220.127.116.11. Increased awareness to reduce healthcare costs
18.104.22.168. Reluctance in the adoption of new technologies
22.214.171.124. Development of substitute products and lack of sufficient evidence
126.96.36.199. Increased focus toward advanced treatment protocols
188.8.131.52. Significant unmet need in wound care
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