Report : Asia Pacific Wound Dressing Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Wound Dressing Type (Advanced Wound Dressing and Traditional Wound Dressing), Application (Chronic Wound and Acute Wound), and End User (Hospitals, Ambulatory Surgical Centers, Clinics, and Others)
At 6.6% CAGR, the APAC Wound Dressing Market is speculated to be worth US$ 4,153.18 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the APAC wound dressing market was valued at US$ 2,828.63 million in 2022 and is expected to reach US$ 4,153.18 million by 2028, registering an annual growth rate of 6.6% from 2022 to 2028. Dynamic R&D landscape leading to increased number of products launches, approvals, and collaboration and growing adoption of technological advanced in wound dressings are the critical factors attributed to the market expansion.
The new paradigm of value-based care is already changing how care is delivered. The increasing adoption of advanced wound dressings results in better care for individuals. Many wound dressings are available with a wide range of physical performance, characteristics, and costs—the advantages associated with advanced wound care products lead to the growing trend of these products. For instance, antimicrobial dressings are the key trend currently being used as an alternative to traditional dressings and systemic antibiotics. Antimicrobial dressings are loaded with antimicrobial agents that reduce wound bacterial colonization and infection to improve healing. Due to the high functional efficiency in post-surgical care and burns, antimicrobial wound dressings are rapidly replacing conventional wound dressings. Therefore, growing adoption of technological advanced in wound dressings is expected to drive the market during forecast period.
On the contrary, unfavorable reimbursement scenario hurdles the growth of APAC wound dressing market.
- Based on wound dressing type, the APAC wound dressing market is bifurcated into advanced wound dressing and traditional wound dressing. The advanced wound dressing segment held 63.1% market share in 2022, amassing US$ 1,784.45 million. It is projected to garner US$ 2,664.60 million by 2028 to expand at 6.9% CAGR during 2022–2028. The advanced wound dressing is further segmented into foam dressings, superabsorbent dressings, film dressings, hydrocolloids dressings, wound contact layers, collagen dressings, and others. The traditional wound dressing is also segmented into dry dressings, surgical tapes, and anti-infective dressings.
- Based on application, the APAC wound dressing market is bifurcated into chronic wound and acute wound. The chronic wound segment held 57.1% market share in 2022, amassing US$ 1,614.59 million. It is projected to garner US$ 2,412.34 million by 2028 to expand at 6.9% CAGR during 2022–2028. The chronic wound segment is further segmented into pressure ulcers, diabetic foot ulcers, venous leg ulcers, and other chronic wounds. Similarly, the acute wound segment is bifurcated into surgical and traumatic wounds and burns wounds.
- Based on end user, the APAC wound dressing market is segmented into hospitals, ambulatory surgical centers, clinics, and others. The hospitals segment held 35.8% market share in 2022, amassing US$ 1,012.08 million. It is projected to garner US$ 1,531.43 million by 2028 to expand at 7.1% CAGR during 2022–2028.
- Based on country, the APAC wound dressing market has been categorized into China, India, Japan, South Korea, Australia, and rest of APAC. Our regional analysis states that China captured 28.8% market share in 2022. It was assessed at US$ 813.51 million in 2022 and is likely to hit US$ 1,238.89 million by 2028, exhibiting a CAGR of 7.3% during the forecast period.
Key players dominating the APAC wound dressing market are 3M; Advancis Medical; Axio Biosolutions Pvt Ltd; Coloplast Corp; Convatec Inc.; Integra LifeSciences Holdings Corporation; Medline Industries, Inc.; Medtronic; Mölnlycke Health Care AB.; and Smith+Nephew among others.
- In April 2021, Medline launched a new series of chronic wound care courses designed to advance clinical knowledge of chronic wounds. The series of educational programs is the product of Medline's Global Health Initiative, a corporate social responsibility venture that leverages the skills and expertise of employees to build strong health systems. strong, resilient and make healthcare better around the world.
- In Nov 2021, Convatec announced a three-year extension to Advanced Wound Care agreement with Vizient. The new agreement provided wound formulary standardization and savings programs which is expected to provide both clinical and financial value for Vizient members as well as greater market share growth opportunities for Convatec.
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