South East Asia Advanced Wound Care Market Benefits From R&D Funding

 The South East Asia advanced wound care market size was valued at USD 221.28 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.11% from 2023 to 2030. The rising prevalence of chronic diseases, mainly, diabetes and obesity, is one of the key factors leading to an increase in the incidence of chronic wounds such as diabetic foot ulcers, venous leg ulcers, and pressure ulcers. For instance, as per data published by the government of Singapore (Ministry of Health), as of December 2021, a study showed that diabetes contributed to 87% of arterial insufficiency ulcers in the population of Singapore.

Similarly, according to IDF Diabetes Atlas, Indonesia ranked 5th in 2019 with around 7.9 million adults aged between 20 and 79 having undiagnosed diabetes. Healing of these chronic wounds requires advanced wound care products, thus, impelling the growth of the market over the forecast period. 

The rising prevalence of obesity is another key factor likely to drive market growth, as it is associated with chronic wounds and lower extremity amputations. Obese people are at a higher risk of pressure ulcers, with reduced vascular activity in adipose tissue. The incapability of these patients to reposition themselves in bed acts as a precursor for pressure-related injuries.

Product Insights

The moist wound care segment dominated with a revenue share of 59.15% in 2022. This can be attributed to rising burn cases in the South East Asia region. The majority of these occur in low- and middle-income countries and nearly two-thirds occur in the WHO African and South East Asia regions. For instance, according to a study published by NCBI in 2020, the mortality rate of burn injuries in South East Asia was 11.6%. Furthermore, in Indonesia, the number of burn-related deaths was estimated to be approximately 195,000 people per year. Moist wound care products are majorly used to prevent exudation from burn injuries; hence, increasing burn cases are expected to boost the segment growth over the forecast period. 

The antimicrobial wound care segment is projected to witness the fastest CAGR of 6.65% over the forecast period. The segment is majorly indicated for partial and full-thickness wounds, such as surgical incisions and percutaneous line sites. These products are available as nylon fabric, film care, sponges, impregnated woven gauzes, or a combination of different materials. Major factors contributing to market growth include increasing incidence of ulcers such as arterial ulcers & diabetic foot ulcers.

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Application Insights

The chronic wounds segment held the largest revenue share of 59.31% in 2022. The increasing incidence of chronic diseases, especially diabetes, and the rising geriatric population are among the major factors driving the segment growth. For instance, according to Ageing Asia, in Indonesia, the number of people aged 60 and above was 27,524,000 in 2019, which is anticipated to increase by 153.56% and reach 69,792,000 in 2050, accounting for 21.1% of the total population. Older people are more susceptible and prone to injury, which may lead to an increase in the incidence of chronic wounds.

End-use Insights

The hospital segment dominated South East Asia advanced wound care market with a revenue share of 45.36% in 2022. This can be accredited to rising surgical procedures, the increasing number of hospitals, and the surge in the number of accidental cases in this region. For instance, according to Philkotse, the number of road accidents has nearly doubled from 63,072 in 2007 to 116,906 in 2018.

An increase in the number of accidents is leading to a greater number of surgeries and the use of advanced wound care products. Moreover, development in healthcare services is leading to the growth of the advanced wound care market. According to Medical Tourism Center, Indonesia is more focused on the niche segment of health check-ups such as cosmetic surgery, breast augmentation, rhinoplasty, and dentistry. With an increasing number of breast augmentation and cosmetic surgeries, the need for advanced wound care products is growing, which is expected to fuel the market growth during the forecast period. Thus, due to the aforementioned factors, the hospital segment is expected to dominate the end-use segment.

Some prominent players in the South East Asia advanced wound care market include:

  • Smith & Nephew
  • Molnlycke Health Care AB
  • ConvaTec Group PLC
  • Baxter International
  • URGO
  • Coloplast Corp.
  • Medtronic
  • 3M
  • Derma Sciences (Integra LifeSciences)
  • Medline Industries

Gather more insights about the market drivers, restrains and growth of the South East Asia Advanced Wound Care Market

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