Asia Pacific Advanced Wound Dressings 2020 Global Share, Trend, Segmentation And Forecast To 2028

Market Overview

The Asia Pacific advanced wound dressings market size is projected to reach USD 1,644.8 million by 2027 owing to the increasing population of diabetic patients in the region, states Fortune Business Insights™ in its report, titled "Asia Pacific Advanced Wound Dressings Market, 2020-2027". The report further states that the global market value was USD 1,051.2 million in 2019 and the market is expected to register a CAGR of 6.2% from 2020 to 2027.

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COVID-19 Impact

The COVID-19 pandemic is expected to have a long-term effect on businesses worldwide. Trading has been disrupted owing to stringent travel bans amid the initial phase of the pandemic. In addition, the global shutdown of the production units has been a challenge for most enterprises. The Asia Pacific advanced wound dressings market has also experienced a declining growth. The market secured a market value of USD 1,081.6 million, showcasing a decline of 2.9% in growth in 2020 compared to the average year-on-year growth during 2016-2019.

Mölnlycke Partners with Zuellig Pharma to Offer Advanced Wound Care Solutions

In July 2019, Mölnlycke joined hands with Zuellig Pharma in order to offer advanced wound care solutions in the Southeast Asia region. The services will be primarily provided to patients and health practitioners. The partnership will help Zuellig leverage Mölnlycke's extensive experience in medical and sales management and the marketing of its portfolio. On the other hand, Mölnlycke will benefit from the extensive network established by Zuellig Pharma, which will allow better access to the communities across Asia.

Increasing Population of Diabetic Patients to Drive Growth

Chronic diseases, such as cancer, arthritis, and diabetes, could sometimes result in long-term or acute wounds, putting huge social and financial burden on the patient. Rise in the prevalence of such diseases in the Asian countries is anticipated to increase the probability of chronic or acute wounds, which in turn, is estimated to drive the Asia advanced wound dressings market growth. For instance, according to the International Diabetes Federation, Asia Pacific is home to over 60% of the total diabetic patients worldwide.

Infection Management Properties to Aid Antimicrobial Dressings Segment Lead

We have categorized the market on the basis of type, end user, and geography. In terms of type, the market is divided into alginate dressings, hydrogel dressings, collagen dressings, film dressings, hydrocolloid dressings, antimicrobial dressings, foam dressings, and others. The antimicrobial dressings segment is predicted to dominate the market backed by dressings' effective infection management properties. The segment held the largest market share in 2019. Based on the end user, it is fragmented into hospitals, clinics, and home care settings. On the basis of countries, the market is divided into China, Japan, India, Australia, Taiwan, Indonesia, and the Rest of Asia Pacific.

Rapidly Increasing Diabetic Population to Boost Demand in China

China is set to be the leader in the Asia Pacific advanced wound dressings market during the forecast period. The major factor accelerating the country's demand for advanced wound dressings is the rapidly increasing population of diabetic patients in the country. For instance, in 2019, the country recorded the highest number of diabetic cases in the world with nearly 116 million active cases.

The evident presence of prominent enterprises such as BSN Medical is helping the market in India to grow significantly. Besides, increasing government spending in the healthcare sector is estimated to strengthen the demand for wound dressings.

Mergers and Acquisitions to Help Key Players Enhance their Portfolios

Key players operating in the Asia Pacific advanced wound dressings market are embarking on mergers and acquisitions. This will help them enhance their product portfolio. For instance, in October 2019 - 3M acquired Acelity L.P. Inc., San Antonio, Texas, KCI, one of its subsidiaries and a leading global medical technology company. The partnership will help 3M offer advanced wound care and specialty surgical applications to its customers.

Industry Development:

In April 2017, Essity India, a pioneer in health and hygiene, announced the acquisition of BSN medical India. With the help of this partnership, the company is focusing on gaining a larger share of the medical and healthcare solutions market.

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List of Key Players Profiled in this Market Report:

Medline Industries, Inc. (Northfield, U.S.)
Mölnlycke Health Care AB (Gothenburg, Sweden)
Coloplast A/S (Humlebaek, Denmark)
3M (Maplewood, U.S.)
Smith & Nephew (London, U.K.)
ConvaTec Group PLC (Reading, U.K.)
BSN medical (Essity) (Hamburg, Germany)
Cardinal Health (Dublin, U.S.)
Chinmed (Ningbo, China)
Continued. . .

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NOTE: Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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This release was published on openPR.