Portland, OR, June 06, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Asia-Pacific Advanced Wound Care Market garnered $1.65 billion in 2017 and is expected to reach $3.65 billion by 2025, registering a CAGR of 10.4% through 2025. The report offers an in-depth analysis of the market, covering aspects such as the key investment pockets, drivers, restraints, & opportunities, major market segments, strategic developments, and competitive landscape.
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Rapidly aging population and favorable demographics, technological advancements to deal with complex wounds, and increased awareness to reduce healthcare costs drive the growth of the Asia-Pacific advanced wound care market. However, reluctance in adoption of new technologies, development of substitute products, and lack of sufficient evidence hamper the market growth. On the other hand, increased focus toward advanced treatment protocols and significant unmet need in wound care are expected to create lucrative opportunities for the market players in the coming years.
Based on products, the active wound care segment is likely to witness the fastest CAGR of 20.1% from 2018 to 2025. However, the exudate management segment was the largest in 2017, contributing more than one-third of the market share. The other products discussed in the report include infection management and therapy devices.
Among applications, the chronic wounds segment held more than two-thirds of the market share in 2017 and is likely to continue its dominance through the forecast period. The same would grow at the fastest CAGR of 10.6% during the study period.
Among end users, the community segment held over three-fifths of the market share in 2017 and would maintain its lead revenue through 2025. The segment is also expected to exhibit the fastest CAGR of 11.1% during the forecast period.
The market across Japan held the largest market share of 31% in 2017 and would maintain its dominance through the study period. However, the market across China would grow at the fastest CAGR of 11.7% during the forecast period. The other regions covered under the report include Singapore, Malaysia, India, South Korea, Australia, and rest of Asia-Pacific.
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The key players analyzed in the market report are 3M Company, Smith & Nephew plc, Coloplast A/S, Medtronic plc, Acelity L.P. Inc., Cardinal Health, Inc., ConvaTec Group Plc, Essity Aktiebolag (BSN Medical GmbH), B. Braun Melsungen AG, and Mölnlycke Health Care AB. These players have adopted various market strategies such as partnerships, collaboration, mergers & acquisitions, new product launch to strengthen their foothold in the industry.
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