Asia Pacific Bioactive Wound Management Market is Estimated to Grow at a CAGR of 7.9% during 2020-2027 With Leading Players Smith & Nephew,Hartman Group,Integra Life Sciences Corporation,Coloplast Group,ConvaTec Group Plc

The Asia Pacific bioactive wound management market is expected to reach US$ 676.54millionby 2027 from US$ 371.37millionin 2019. The market is estimated to grow at a CAGR of 7.9% during 2020-2027.

The bioactive wound managementmarketis growing primarily due to the increasing prevalence of wounds and ulcers, and increasing healthcare expenditurein Asia Pacific. Factors such as high cost associated with wound care management, negatively impact the growth of the market. Additionally, government initiatives in research and development of healthcare sector and3D printing in wound care managementare likely to fuel the growth of the bioactive wound managementmarketduring the forecast period.

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Key Players:

1. Smith & Nephew
2. Hartman Group
3. Integra Life Sciences Corporation
4. Coloplast Group
5. ConvaTec Group Plc

Bioactive wound care management is a new trend in the healthcare sector. The bioactive wound care products are produced from artificial and natural sources, which have a fewer chance of infection, faster healing capacity and the risk of leaking is eliminated along with reducing pain and discomfort. The bioactive wound care products are cost and time effective. The materials in the bioactive wound dressings include hydrocolloids, alginates, chitosan, keratin, and collagen.

The rise in the incidence of heath care expenditure is contributing to the growth of the market. Some countries of AsiaPacific have good healthcare expenditures on health measures. Because of this, market scenarios in countries such as Japan and China have emerged in a profitable way. For example, per capita healthcare expenditures in purchasing power parity (PPP) in Japan increased from 2015 to 2016, from USD 4,436 per capita in purchasing power parity (PPP). While India?s per capita public expenditure on health has doubled from Rs 621 per person from 2009 to 2010 to Rs 1,657 from 2017 to 2018, it still remains very low compared to other countries. The Indian government has aimed to raise expenditure on public health services to 2.5% of the country?s GDP by 2025. In 2018, the total expenditure on health care in China reached over 5.9 trillion yuan. The health expenditure in China has soared from under 500 billion yuan in 2000 to almost six trillion in 2018.

The outbreak of the COVID-19 pandemic has been first reported inChina. The spread of infection has affected various Asian countries such as India, South Korea, Australia, Malaysia, and Singapore. The countries have reported maximum deaths and laboratory diagnosed positive patients. The major focus has been shifted to treat COVID-19 affected patients and the production of personal equipment products. On the other hand, Asian countries have a maximum number of burn cases. Countries such as India, Nepal, and Pakistan have ~1 million cases for burn wounds. Therefore, the outbreak of the COVID-19 pandemic is estimated to negatively impact the bioactive wound management market.

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Asia Pacific Bioactive Wound Management Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America

Points Covered in the Report:

1. The pivotal aspects considered in the Global Asia Pacific Bioactive Wound Management Market report consist of leading competitors functioning in the global market.
2. The report encompasses company profiles prominently positioned in the global market.
3. The sales, corporate strategies, and technological capabilities of leading manufacturers are also mentioned in the report.
4. The driving factors for the growth of the Global Asia Pacific Bioactive Wound Management Market are explained exhaustively, along with an in-depth account of the end users in the industry.
5. The report also explains critical application areas of the global market to readers/users.
6. The report undertakes a SWOT analysis of the market. In the final section, the report features the opinions and views of industry experts and professionals. The experts also evaluate the export/import policies that might propel the growth of the Global Asia Pacific Bioactive Wound Management Market.
7. The report on the Global Asia Pacific Bioactive Wound Management Market delivers valuable information for policymakers, investors, stakeholders, service providers, producers, suppliers, and organizations operating in the industry and looking to purchase this research document.

Sameer Joshi
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