Hong Kong $38.9 Million Wound Care Market to 2030 - Shift in Preference from Traditional Products to Advanced Therapies

Dublin, Nov. 26, 2020 (GLOBE NEWSWIRE) -- The "Hong Kong Wound Care Market Research Report: By Type, Application, End User, Distribution Channel - Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

Hong Kong wound dressing market reached a value of $38.9 million, and is projected to exhibit a CAGR of 5.9% during the forecast period (2020-2030).

The major factors leading to the growth of the market are rising prevalence of diabetes, increasing incidence of traumatic injuries, and growing geriatric population. On the basis of type, the market is divided into traditional and advanced, between which, the advanced category dominated the market in 2019.

Advanced wound dressing is highly advantageous for traumatic injuries that are severe and need prompt medical attention to reduce the patient's susceptibility to infections. Moreover, this dressing type regulate the moisture level and absorb exudate around the wound, and hence protects the wound base and the tissue around it. The advanced division is further categorized into films, foams, hydrocolloids, alginates, superabsorbents, hydrogels, wound contact layers, collagen, hydrofiber, and negative pressure wound therapy, among which, foam held the largest share of the market in 2019.

The shifting preference from traditional wound dressings to advanced variants is a major trend in the Hong Kong wound dressing market. Traditional dressing products serve as secondary dressing products for holding the primary dressing in place or facilitate dry healing. Advanced wound dressing, however, accelerates the healing process and provided quick relief to patients. It is because of such advantages of advanced wound dressing that the healthcare professionals are adopting them. While the demand for traditional products has decreased, the outlook towards advanced variants is changing for the good in Hong Kong.

A major factor leading to the growth of the Hong Kong wound dressing market is the rapidly rising prevalence of diabetes in the country. Diabetes can often lead to diabetic foot ulcer, which is a chronic complication of diabetes mellitus. In order to manage this disease frequent dressings are required. Hence, as the number of people suffering from diabetes will rise in Hong Kong, the need for wound dressing will grow as well.

Key Topics Covered:

Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders

Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study

Chapter 3. Executive Summary

Chapter 4. Introduction
4.1 Market Definition
4.1.1 By Type
4.1.1.1 Advanced
4.1.1.1.1 Wound dressings
4.1.1.1.1.1 Foam
4.1.1.1.1.2 Hydrocolloid
4.1.1.1.1.3 Film
4.1.1.1.1.4 Alginate
4.1.1.1.1.5 Antimicrobial
4.1.1.1.1.6 Hydrogel
4.1.1.1.1.7 Collagen
4.1.1.1.1.8 Hydrofiber
4.1.1.1.1.9 Wound contact layer
4.1.1.1.1.10 Superabsorbent
4.1.1.1.1.11 Others
4.1.1.1.2 Wound therapy devices
4.1.1.1.2.1 NPWT devices
4.1.1.1.2.2 Pressure relief devices
4.1.1.1.2.3 Others
4.1.1.1.3 Wound care biologics
4.1.1.1.3.1 Skin substitutes
4.1.1.1.3.2 Collagen-based
4.1.1.1.3.3 Growth factors
4.1.1.1.3.4 Others
4.1.1.2 Traditional
4.1.1.2.1 Bandages
4.1.1.2.2 Fixation tapes
4.1.1.2.3 Gauzes
4.1.1.2.4 Sponges
4.1.1.2.5 Abdominal pads
4.1.1.2.6 Others
4.1.2 By Application
4.1.2.1 Chronic wounds
4.1.2.1.1 DFUs
4.1.2.1.2 Pressure ulcers
4.1.2.1.3 VLUs
4.1.2.1.4 Others
4.1.2.2 Acute wounds
4.1.2.2.1 Surgical and traumatic wounds
4.1.2.2.2 Burns
4.1.2.2.3 Others
4.1.3 By End User
4.1.3.1 Hospitals and specialty clinics
4.1.3.1.1 Inpatient settings
4.1.3.1.2 Outpatient settings
4.1.3.2 Home healthcare
4.1.3.3 Long-term care settings
4.1.4 By Distribution Channel
4.1.4.1 Pharmacies
4.1.4.2 Online channels
4.2 Market Dynamics
4.2.1 Trends
4.2.1.1 Shift in preference from traditional products to advanced therapies
4.2.2 Drivers
4.2.2.1 Growing geriatric population
4.2.2.2 Increasing prevalence of diabetes
4.2.2.3 High incidence of traumatic injuries
4.2.2.4 Impact analysis of drivers on market forecast
4.2.3 Restraints
4.2.3.1 High cost of advanced wound care products
4.2.3.2 Impact analysis of restraints on market forecast
4.2.4 Opportunities
4.2.4.1 Improving economy and increasing health expenditure
4.2.4.2 Ineffectiveness of traditional wound dressings in acute wound management
4.3 Impact of COVID-19
4.4 Porter's Five Forces Analysis
4.5 Regulatory Overview
4.6 Wound Dressing Product Pricing
4.7 Healthcare Insurance Scenario in Hong Kong

Chapter 5. Epidemiology of Wounds in Hong Kong
5.1 Total Incidence of Wounds
5.2 Type-Specific Incidence of Wounds
5.2.1 Incident Cases of Acute Wounds, by Subtype
5.2.2 Incident Cases of Chronic Wounds, by Subtype

Chapter 6. Hong Kong Market Size and Forecast
6.1 By Type
6.1.1 Advanced Wound Care Market, by Type
6.1.1.1 Advanced wound dressing market, by type
6.1.1.1.1 Foam dressing market
6.1.1.1.2 Hydrocolloid dressing market
6.1.1.1.3 Film dressing market
6.1.1.1.4 Alginate dressing market
6.1.1.1.5 Antimicrobial dressing market
6.1.1.1.6 Hydrogel dressing market
6.1.1.1.7 Collagen dressing market
6.1.1.1.8 Hydrofiber dressing market
6.1.1.1.9 Wound contact layer dressing market
6.1.1.1.10 Superabsorbent dressing market
6.1.1.2 Wound care biologics market, by type
6.1.1.3 Wound therapy devices market, by type
6.1.2 Traditional Wound Dressing Market, by Type
6.2 By Application
6.2.1 Wound Dressing Market for Chronic Wounds, by Type
6.2.2 Wound Dressing Market for Acute Wounds, by Type
6.3 By End User
6.3.1 Wound Dressing Market in Hospitals and Specialty Clinics, by Type
6.4 By Distribution Channel

Chapter 7. Competitive Landscape
7.1 Company Benchmarking Based on Product Offerings
7.2 Revenue Share Analysis of Major Companies
7.2.1 3M Company
7.2.2 ConvaTec Group Plc
7.2.3 Coloplast A/S
7.2.4 PAUL HARTMANN Asia-Pacific Ltd.
7.2.5 Winner Medical Co. Ltd.
7.2.6 Molnlycke Health Care AB
7.2.7 Smith & Nephew plc
7.3 Advanced Wound Dressing Usage Share Analysis, by Hospital
7.3.1 Government Hospitals
7.3.1.1 Tuen Mun Hospital (TMH)
7.3.1.2 United Christian Hospital (UCH)
7.3.1.3 Queen Elizabeth Hospital (QEH)
7.3.1.4 Prince of Wales Hospital (PWH)
7.3.1.5 Pamela Youde Nethersole Eastern Hospital (PYNEH)
7.3.1.6 Princess Margaret Hospital (PMH)
7.3.1.7 Queen Mary Hospital (QMH)
7.3.2 Private Hospitals
7.3.2.1 Evangel Hospital
7.3.2.2 Gleneagles Hong Kong Hospital
7.3.2.3 Hong Kong Adventist Hospital
7.3.2.4 Hong Kong Baptist Hospital
7.3.2.5 Hong Kong Sanatorium & Hospital Limited
7.3.2.6 Matilda & War Memorial Hospital
7.3.2.7 Precious Blood Hospital
7.3.2.8 St. Paul's Hospital
7.3.2.9 St. Teresa's Hospital
7.3.2.10 Union Hospital
7.3.2.11 Canossa Hospital
7.4 Strategic Developments of Key Players
7.4.1 Mergers and Acquisitions
7.4.2 Partnerships
7.4.3 Other Developments

Chapter 8. Company Profiles

• Coloplast A/S

• 3M Company

• Paul Hartmann AG

• Winner Medical Co. Ltd.

• Molnlycke Health Care AB

• Smith & Nephew plc

• ConvaTec Group PLC

• Allmed Medical Products Co. Ltd.

• Zhende Medical Co. Ltd.

• Wayson Medical Co. Ltd.

• B. Braun Melsungen AG

• BSN medical GmbH

• Beiersdorf AG

• Johnson & Johnson

• Urgo Medical

• Cardinal Health Inc.

• Medtronic plc

• Integra LifeSciences Holdings Corporation

• Wright Medical Group N.V.

• Medela Healthcare

• Lohmann & Rauscher GmbH & Co. KG

• Nitto Denko Corporation

• Weigao Group Co. Ltd.

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