Asia-Pacific Wound Care Product Market to Witness Exponential Growth by 2023
Posted by facto on October 16th, 2019
With an increase in the number of surgeries in hospitals, wound care products are becoming increasingly popular due to the surveillance of infections in wounds post-surgery. The Asia Pacific wound care product market is anticipated to expand at an overall compound annual growth rate (CAGR) of 9.2 % and will be worth of USD 3.44 Bn by 2023.
Increasing geriatric populations across different parts of the Asia Pacific region is one of the predominant factors that is anticipated to drive the demand for the wound care product market.
Education and awareness about the benefits of new wound care technologies have risen. This is driven by the need for reduction in healthcare costs by minimizing hospital stays and risk of infections.
Based on countries, the Asia Pacific wound care product market is divided into China, Japan, India and the rest of APAC. China is one of the largest markets in the Asia Pacific region. This is because the government's policy to support the growth of local advanced wound care product manufacturers would challenge the domination of MNCs in this segment. On the other hand India is growing in terms of both the population and living standards, thereby creating high demand for quality wound care.
By product classification, the surgical wound care product market is the largest segment followed by the advanced wound care product market. The growth potential of advanced wound care products is expected to be the highest during the forecast period because of an increase in disposable income of this region along with rising population, especially the geriatric type.
Key growth factors
o Increasing aging population in APAC countries is driving the requirement for home healthcare facilities, as hospital beds are not available in adequate numbers.
What's covered in the report?
Enquiry about this Report @ https://www.factomarketinsights.com/enquiry/530
Like it? Share it!
About the Authorfacto
Joined: October 7th, 2019
Articles Posted: 231
More by this author