The Asia Pacific advanced wound dressings market size is projected to reach USD 1,644.8 million by 2027 owing to the increasing population of diabetic patients in the region, states Fortune Business Insights™ in its report, titled “Asia Pacific Advanced Wound Dressings Market, 2020-2027”. The report further states that the global market value was USD 1,051.2 million in 2019 and the market is expected to register a CAGR of 6.2% from 2020 to 2027.
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COVID-19 Impact
The COVID-19 pandemic is expected to have a long-term effect on businesses worldwide. Trading has been disrupted owing to stringent travel bans amid the initial phase of the pandemic. In addition, the global shutdown of the production units has been a challenge for most enterprises. The Asia Pacific advanced wound dressings market has also experienced a declining growth. The market secured a market value of USD 1,081.6 million, showcasing a decline of 2.9% in growth in 2020 compared to the average year-on-year growth during 2016-2019.
Mölnlycke Partners with Zuellig Pharma to Offer Advanced Wound Care Solutions
In July 2019, Mölnlycke joined hands with Zuellig Pharma in order to offer advanced wound care solutions in the Southeast Asia region. The services will be primarily provided to patients and health practitioners. The partnership will help Zuellig leverage Mölnlycke’s extensive experience in medical and sales management and the marketing of its portfolio. On the other hand, Mölnlycke will benefit from the extensive network established by Zuellig Pharma, which will allow better access to the communities across Asia.
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Increasing Population of Diabetic Patients to Drive Growth
Chronic diseases, such as cancer, arthritis, and diabetes, could sometimes result in long-term or acute wounds, putting huge social and financial burden on the patient. Rise in the prevalence of such diseases in the Asian countries is anticipated to increase the probability of chronic or acute wounds, which in turn, is estimated to drive the Asia advanced wound dressings market growth. For instance, according to the International Diabetes Federation, Asia Pacific is home to over 60% of the total diabetic patients worldwide.
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