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Hong Kong Wound Dressing Market is Predicted to Reach a Value of $27.1 Million by 2024
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On the basis of type, the Hong Kong wound dressing market is categorized into advanced and traditional products. During the historical period (2014–2018), the traditional wound dressing category dominated the market, in terms of value. Abdominal pads, sponges, bandages, and gauzes are included in this category. The faster growth is expected to be witnessed by advanced wound dressings (CAGR of 5.6%) during 2019–2024. This would be due to the growing prevalence of chronic diseases here and the advanced and innovative applications of such products in the treatment of wounds.
The Hong Kong wound dressing market is divided into long-term care settings, home healthcare, and hospitals & specialty clinics, on the basis of end-user. Out of these, the hospitals & specialty clinics division accounted for the major share of the market during the historical period and is also projected to experience the highest CAGR, of 6.0%, during the forecast period. The reason for this is the growing applications of advanced wound dressing products in hospitals in Hong Kong in order to address the needs of chronic wound patients.
Browse full report at: https://www.psmarketresearch.com/market-analysis/hong-kong-wound-dressing-market
A key trend in the Hong Kong wound dressing market is the shift in preference from traditional products to advanced therapies. While traditional products facilitate dry healing when used for primary or secondary dressing, advanced variants accelerate the healing, thereby providing relief quickly to the patients. Since delayed wound healing poses challenges for both the patients and healthcare professionals, they are becoming more inclined toward adopting advanced wound dressing products, as they carry a lower risk of infections and facilitate faster healing of the wound.
The rapidly growing geriatric population and increasing prevalence of diabetes in Hong Kong are thus leading to the growth of the market.
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