The market is expected to see a rise in preference over traditional wound management.
An aging population, rising patient awareness levels, and growing disposable incomes have been boosting Asia-Pacific’s advanced wound management market, which is projected to grow at a compound annual growth rate of 7% between 2020 and 2025, according to GlobalData.
The market, which was valued at $486.2m in 2020, is expected to reach $687.6m in 2025. In 2019, Japan accounted for 42% of the APAC advanced wound management market, followed by India and South Korea, which together contributed 35%.
“The presence of a large population base suffering from diabetes is also expected to have a significant impact on market growth in APAC,” GlobalData’s medical devices analyst Minith Kumar commented.
The report also noted that the growth in the adoption of advanced wound management is significant in countries such as China and India due to a rise in chronic wounds, trauma cases and surgical procedures.
“The market is expected to grow as preference for advanced wound management products increase over traditional wound management. Although advanced wound management products are more expensive, they aid in speedy recovery thereby reducing the overall cost of the treatment,” Kumar added.
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