Wound Care - APAC | Statista Market Forecast

Wound Care - APAC

APAC

Highlights

Revenue in the Wound Care market amounts to US$810.90m in 2024. The market is expected to grow annually by 0.54% (CAGR 2024-2028).
In global comparison, most revenue is generated United States (US$1bn in 2024).
In relation to total population figures, per person revenues of US$0.19 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Wound Care market in APAC is experiencing significant growth and development due to various factors. Customer preferences in the APAC region are driving the demand for advanced wound care products and services.

With increasing awareness about the importance of wound care and the availability of innovative products, customers are seeking effective solutions to address their wound care needs. They are looking for products that promote faster healing, reduce pain and discomfort, and minimize the risk of infection. Additionally, customers in APAC are increasingly adopting home-based wound care solutions, which offer convenience and cost-effectiveness.

The market trends in the APAC region reflect the growing demand for wound care products and services. One notable trend is the increasing adoption of advanced wound dressings, such as foam dressings, hydrocolloid dressings, and alginate dressings. These dressings provide better wound healing outcomes compared to traditional dressings, as they create a moist environment that promotes healing and reduces the risk of infection.

Another trend is the rising popularity of negative pressure wound therapy (NPWT), which is a non-invasive technique that accelerates wound healing by applying controlled suction to the wound bed. NPWT is gaining traction in APAC due to its effectiveness in treating chronic and complex wounds. Local special circumstances in the APAC region also contribute to the development of the wound care market.

One such circumstance is the aging population in countries like Japan, South Korea, and Singapore. As the elderly population increases, so does the prevalence of chronic wounds, such as pressure ulcers and diabetic foot ulcers. This creates a significant demand for wound care products and services.

Additionally, the high incidence of diabetes in countries like India and China is driving the need for specialized wound care solutions to manage diabetic foot ulcers. Underlying macroeconomic factors further support the growth of the wound care market in APAC. The region's rapid economic development and increasing disposable incomes enable individuals to invest in better healthcare services, including wound care.

Moreover, the expanding healthcare infrastructure and the availability of advanced medical technologies in APAC countries facilitate the delivery of quality wound care. Government initiatives to improve healthcare access and affordability also contribute to the market's development. In conclusion, the Wound Care market in APAC is experiencing significant growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

The increasing demand for advanced wound care products and services, the adoption of innovative wound dressings and therapies, the aging population, the high incidence of diabetes, and the region's economic development are all driving the market's expansion. As the APAC region continues to prioritize healthcare and invest in advanced medical technologies, the wound care market is expected to flourish in the coming years.

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.