Philippines Wound Care Market Impacts Higher Demand Due to Increasing Contribution by Major Players during 2018-2025
September 19, 2019 by Jason Lee
The Philippines wound care market size was valued at $51 million in 2017, and is projected to reach $85 million by 2025, registering a CAGR of 6.5% during the forecast period.
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Traditional wound care and advanced wound care products are used in the treatment of acute and chronic wounds. Advanced wound care has emerged as a standard solution for the treatment of chronic wounds, which need substantial time to heal and incur high cost. Traditional wound care products are being increasingly substituted with advanced wound care products due to their efficiency and effectiveness to treat wounds by enabling faster healing. Increase in the number of surgical procedures and spiraling demand for technologically advanced surgical procedures such as minimally invasive surgeries and laparoscopic surgeries drive the growth of the market.
The growth of the market is attributed to the rapid growth in geriatric population & favorable demographics; rise in incidence of diabetes, obesity, and chronic conditions; technological advancements to deal with complex wounds; and increase in awareness to reduce healthcare costs. However, reluctance in adoption of new technologies restrain the growth of the market. Increased focus toward advanced treatment protocols and significant unmet needs in wound care act as growth opportunities for the market.
The Philippines wound care market is segmented based on product type, application, and end user. By product type, the market is categorized into advanced wound care, surgical wound care, and traditional/basic wound care. Advanced wound care is sub-segmented into infection management, exudate management, active wound care, and therapy devices. Infection management is the leading segment in the global market. It is further classified into silver dressings, non-silver dressings, and collagens. Exudate management is sub divided into hydrocolloid dressings, foam dressings, alginate dressings, and hydrogel dressings. Active wound care is further divided into skin substitutes and growth factors. Therapy devices is sub segmented into negative pressure wound therapy (NPWT), oxygen & hyperbaric oxygen equipment, electromagnetic therapy devices, and others. Surgical wound is further categorized into sutures & staples, tissue adhesives, sealants, & glues, and anti-infective dressings. Tissue adhesives, sealants, & glues are further divided into fibrin-based sealants, collagen-based sealants, and synthetic adhesives/glues. Traditional/basic wound care are sub segmented into medical tapes, dressings, and cleansing agents. Based on application, the market is bifurcated into chronic wound care and acute wound care. The end users of the market are hospitals and community centers.
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KEY BENEFITS FOR STAKEHOLDERS
The report provides an in-depth analysis of the market and the estimated revenues generated during the forecast period.
Quantitative analysis of the current trends and future estimations is provided to help the manufacturers of wound care products to analyze the market.
The entire projections in the report are based on analysis of the current market trends and highlight the market potential for the period from 2018 to 2025, in terms of value.
The report conducts extensive analysis of the industry by closely following key product positioning and monitoring the top contenders within the market framework.
The report provides quantitative and qualitative market trends to assist stakeholders to understand the situations prevailing in the market.
KEY MARKET SEGMENTS
Advanced Wound Care
o Infection Management
Silver Wound Dressings
Non-silver Wound Dressings
o Exudate Management
o Active Wound Care
o Therapy Devices
Negative Pressure Wound Therapy (NPWT)
Oxygen & Hyperbaric Oxygen Equipment
Electromagnetic Therapy Devices
Surgical Wound Care
o Sutures & Staples
o Tissue Adhesives, Sealants, & Glues
o Anti-Infective Dressings
Traditional/Basic Wound Care
o Medical Tapes
o Cleansing Agents
o Pressure Ulcers
o Diabetic Foot Ulcers
o Venous Leg Ulcers
o Arterial Ulcers
o Burns & Trauma
o Surgical Wounds
By End User
Community Health Service Centers
LIST OF KEY PLAYERS PROFILED IN THE REPORT
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