Hong Kong Wound Care Market Set For Prosperity In Future

By Author: Pramod Kumar
Total Articles: 97
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The key factors leading to the growth of the market are the increasing incidence of traumatic injuries, surging prevalence of diabetes, and rising geriatric population. The market is bifurcated into traditional an advanced, on the basis of type.
Between these two, the advanced bifurcation held the larger revenue share of the market in 2019, as advanced wound care products aid in accelerating the wound healing process and further provide patients with convenience. In addition to this, these wound care products have the advantage of forming part of the natural tissue matrix. The increasing prevalence of chronic diseases across the globe is also driving the demand for advanced wound care products. The bifurcation is further divided into wound therapy devices, wound dressings, and wound care biologics.
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In terms of application, the Hong Kong wound care ...
... market is categorized into acute wounds an chronic wounds, between which, the chronic wound category held the major share of the market in 2019. The category is further projected to grow at a faster pace during the forecast period, owing to the surging incidence of diabetic foot ulcers, venous leg ulcers, and pressure ulcers. Chronic wounds need frequent and more-efficient dressing for their management, which is leading to the growth of the market.
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The rapidly increasing prevalence of diabetes is also a major factor resulting in the growth of the Hong Kong wound care market. As per the Centre for Health Protection, which is an agency under the Department of Health of Hong Kong, in 2017, diabetes was the major cause of mortality and morbidity in the metropolis. Diabetic patients are highly susceptible to developing wounds, and the wound healing process is further slowed down because of diabetes, which creates high demand for wound care products.

Pramod has around 7 years of experience in market research and consulting services for healthcare industry. He holds varied experience in market sizing and forecasting with varied models, competition landscape, consumer behavior analysis, opportunity analysis, product/company benchmarking, data mining and others. He has successfully delivered multiple projects on go-to-market strategies, pricing strategy, price point analysis, Business Expansion, market entry and exit, share analysis and others. Prior to joining P&S Intelligence, he worked with different research companies, including Transparency Market Research and MarketsandMarkets Pvt Ltd. Some of the projects delivered by him include Scar Treatment Market, Skin Replacement and Substitutes Market, and Energy-Based Aesthetic Devices Market.