In a recent published report, Kenneth Research has updated the Market report for Asia-Pacific Wound Care Product Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Asia-Pacific Wound Care Product Market Products.
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According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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.
o It is reported that more than 84% of the population in this region will be above 80 years in the coming years.
o Threats and key players
o Price sensitivity is a major challenge in the Asian markets. It hampers the progress of the wound care market as a whole.
o The key players operating in this market are Smith & Nephew, Coloplast Corporation, Medtronic Public Limited Company, and Johnson & Johnson Pvt. Ltd.
What’s covered in the report?
1. Overview of the Asia Pacific wound care product market
2. The current and forecasted market size data for the Asia Pacific wound care product market
3. The current and forecasted market size data for the segments of the market, by product type – surgical wound care products, advanced wound care products, and traditional wound care products
4. The current and forecasted market size data for the segments of the market, by application – chronic wound care products, and acute wound care products
5. The current and forecasted market size data for the segments of the market, by end user – hospital and specialty wound care clinics, long-term care facilities, and home healthcare
6. The current and forecasted market size data for the segments of the market, by country – China, India, Japan, South Korea, Australia-New Zealand and rest of APAC
7. Market trends in Asia Pacific wound care product market
8. Market drivers and challenges in the Asia Pacific wound care product market
9. Analysis of competitor profiles of major players operating in the market
1. Get a broad understanding of the Asia Pacific wound care product market and its segments- – by region, by product types, by application, and by end-user
2. Get region-specific drivers and challenges affecting the Asia-Pacific wound care product market
3. Recognize significant competitors’ business and market dynamics, and respond accordingly
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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Asia-Pacific Wound Care Product Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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