asia pacific bioactive wound management Market

The Asia Pacificbioactive wound management market is expected to reach US$ 676.54millionby 2027 from US$ 371.37millionin 2019. The market is estimated to grow at a CAGR of 7.9% during 2020-2027.

The bioactive wound managementmarketis growing primarily due to the increasing prevalence of wounds and ulcers, and increasing healthcare expenditurein Asia Pacific. Factors such as high cost associated with wound care management, negatively impact the growth of the market. Additionally, government initiatives in research and development of healthcare sector and3D printing in wound care managementare likely to fuel the growth of the bioactive wound managementmarketduring the forecast period.

Bioactive wound care management is a new trend in the healthcare sector. The bioactive wound care products are produced from artificial and natural sources, which have a fewer chance of infection, faster healing capacity and the risk of leaking is eliminated along with reducing pain and discomfort. The bioactive wound care products are cost and time effective. The materials in the bioactive wound dressings include hydrocolloids, alginates, chitosan, keratin, and collagen.
The rise in the incidence of heath care expenditure is contributing to the growth of the market. Some countries of AsiaPacific have good healthcare expenditures on health measures. Because of this, market scenarios in countries such as Japan and China have emerged in a profitable way. For example, per capita healthcare expenditures in purchasing power parity (PPP) in Japan increased from 2015 to 2016, from USD 4,436 per capita in purchasing power parity (PPP). While India?s per capita public expenditure on health has doubled from Rs 621 per person from 2009 to 2010 to Rs 1,657 from 2017 to 2018, it still remains very low compared to other countries. The Indian government has aimed to raise expenditure on public health services to 2.5% of the country?s GDP by 2025. In 2018, the total expenditure on health care in China reached over 5.9 trillion yuan. The health expenditure in China has soared from under 500 billion yuan in 2000 to almost six trillion in 2018.
Chronic wounds often lead to complications, creating challenges for surgeons to manage such wounds. Active participation of government bodies and research universities promote advancements in the wound care field. Several research organizations are engaged in the development of advanced wound care products. With the government policy supporting and encouraging domestic medical device innovation, some local manufacturers are growing stronger and competing with foreign suppliers. Additionally, the Chinese government?s Made in China 2025 initiative to improve industry efficiency, product quality and brand reputation will further advance development of domestic medical device manufactures. This is likely to create growth opportunities during the forecast period. Scientists from the Institute of Biophysics under the Chinese Academy of Sciences and the University of Science and Technology Beijing, created a new method to improve wound dressings by enhancing their blood coagulation and wound healing properties. Developed as a three-dimensional layered nano-fiber sponge, its elasticity increases the inter-facial interaction between the sponge and blood cells to control bleeding.

The outbreak of the COVID-19 pandemic has been first reported inChina. The spread of infection has affected various Asian countries such as India, South Korea, Australia, Malaysia, and Singapore. The countries have reported maximum deaths and laboratory diagnosed positive patients. The major focus has been shifted to treat COVID-19 affected patients and the production of personal equipment products. On the other hand, Asian countries have a maximum number of burn cases. Countries such as India, Nepal, and Pakistan have ~1 million cases for burn wounds. Therefore, the outbreak of the COVID-19 pandemic is estimated to negatively impact the bioactive wound management market.

In terms of product, the alginates accounted for the highest share in 2019. The growth of this segment is attributed to the increasing need for efficient and cost-effective wound management, availability of wide range of products in the market, and increasing adoption of bioactive treatment of chronic wounds. However, the bioengineered skin substitutes segment is expected to grow with the highest growth rate during the forecast period, owing to its acceptance in a wide range of chronic wounds treatment, due to its faster healing and reduced infection properties.

A few of the significant secondary sources associated with the Asia Pacificbioactive wound managementmarket report are the World Health Organization (WHO), Australian Wound Management Association (AWMA), Australian Association of Practice Management, International Diabetes Federation, National Center for Biotechnology Information, and among others.