Europe & North America Dominated Advanced Wound Management Market in 2012, Reports GBI Research
21 Jun 2016 • by Natalie Aster
The global advanced wound management market will look to Asia for revenue growth in the near future, as a rising number of diabetes patients boost demand.
The global advanced wound management market will reach a value of $4.4 billion in 2019 from $3.1 billion in 2012, climbing at a Compound Annual Growth Rate (CAGR) of 5.7%, according to the report "Advanced Wound Management Market to 2019 - Increasing Incidence of Diabetes Leading to Chronic Wounds in Emerging Countries will Drive Future Growth" by GBI Research.
Advanced Wound Management Market to 2019 - Increasing Incidence of Diabetes Leading to Chronic Wounds in Emerging Countries will Drive Future Growth
Published: June, 2013
Price: US$ 3,500.00
Last year, over 70% of the market was claimed by Europe and North America, with the Asia-Pacific region accounting for a relatively modest 21%. However, over the next few years the huge number of diabetes sufferers across countries such as China and India will prompt greater demand for wound dressing supplies across Asia.
Advanced wound management products are particularly critical for diabetes patients who suffer from chronic wounds such as foot and pressure ulcers, which pose a significant risk to the body and can lead to amputation and even loss of life.
China currently has the largest diabetes patient pool of any country, with 92 million adults diagnosed in 2012, expected to increase by 40% to 129 million by 2030. Correspondingly, the country’s advanced wound care management market is expected to undergo significant growth, forecast to see last year’s total revenue of $107m more than double to $269m in 2019 at a substantial CAGR of 14% - the highest growth rate of any of the 12 countries studied in the report.
Japan – currently Asia’s most valuable market for advanced wound management products – is expected to demonstrate less impressive growth due to greater saturation, with GBI Research forecasting revenue to climb at a CAGR of 3.3%, from $405m in 2012 to $509m in 2019.
More information can be found in the report “Advanced Wound Management Market to 2019 - Increasing Incidence of Diabetes Leading to Chronic Wounds in Emerging Countries will Drive Future Growth” by GBI Research.
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