How is Rising Prevalence of Diabetes Driving Hong Kong Wound Care Market?

The Hong Kong wound care market is predicted to reach a value of $80.7 million by 2030, rising from $46.0 million in 2019, progressing at a 5.4% CAGR during the forecast period (2020–2030), as stated by a P&S Intelligence report.The key factors leading to the growth of the market are the increasing incidence of traumatic injuries, surging prevalence of diabetes, and rising geriatric population. The market is bifurcated into traditional an advanced, on the basis of type.

Between these two, the advanced bifurcation held the larger revenue share of the market in 2019, as advanced wound care products aid in accelerating the wound healing process and further provide patients with convenience. In addition to this, these wound care products have the advantage of forming part of the natural tissue matrix. The increasing prevalence of chronic diseases across the globe is also driving the demand for advanced wound care products. The bifurcation is further divided into wound therapy devices, wound dressings, and wound care biologics.

Receive Sample Pages of this Report: https://www.psmarketresearch.com/market-analysis/hong-kong-wound-care-market/report-sample

In terms of application, the Hong Kong wound care market is categorized into acute wounds an chronic wounds, between which, the chronic wound category held the major share of the market in 2019. The category is further projected to grow at a faster pace during the forecast period, owing to the surging incidence of diabetic foot ulcers, venous leg ulcers, and pressure ulcers. Chronic wounds need frequent and more-efficient dressing for their management, which is leading to the growth of the market.

Make an Enquiry before Purchase: https://www.psmarketresearch.com/send-enquiry?enquiry-url=hong-kong-wound-care-market

The rapidly increasing prevalence of diabetes is also a major factor resulting in the growth of the Hong Kong wound care market. As per the Centre for Health Protection, which is an agency under the Department of Health of Hong Kong, in 2017, diabetes was the major cause of mortality and morbidity in the metropolis. Diabetic patients are highly susceptible to developing wounds, and the wound healing process is further slowed down because of diabetes, which creates high demand for wound care products.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Contact:
P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com

This release was published on openPR.