The China wound care product is expected to cater to the demand, and provide the quality healthcare facilities needed by and beyond 2020.
The requirement for rapid wound-healing products has increased significantly in the recent years due to the rising prevalence of chronic and acute diseases. The China wound care product market is anticipated to show a single-digit growth rate during the forecasted period. Various wound care manufacturers in China are planning to launch new advanced wound care products across the country by the end of 2018.
Revenue growth in China has been stronger than any of the other APAC countries. This trend has been driven primarily by increasing disposable income and also economic prosperity that is enabling the healthcare sector to expand.
The trend of diversification of resources and capabilities, and accommodating the expanding volume of patients are creating high growth opportunities for the APAC countries. In China, more than 9% of the population is expected to suffer from diabetes in 2018, rising from 8.6% in 2014.
China is expected to hold a significant market share because it is one of the first few countries to introduce new developed healing technologies for the wound care products. The advent of advanced wound care products is expected to transform the healthcare facilities of this region.
The hospitals and specialty care clinics have the largest market share based on the end user segment for China, whereas the home healthcare segment is growing fast because of the expanding applications of self-treatment at home.
Key Growth Factors
- The major growth factor for the China wound care product market is the increasing incidence of chronic and acute diseases like diabetes, ulcers, and obesity.
- The increasing geriatric population in China is also creating huge opportunities for the various wound care products.
Threats and Key Players
- A major challenge that the China wound care product market will face is price sensitivity.
- The key players in this market are Smith & Nephew, Coloplast Corporation, Acelity L.P. Inc., and Molyncke Healthcare AB.
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