ASIA PACIFIC WOUND CARE BIOLOGICS MARKET ANALYSIS

Asia Pacific Wound Care Biologics MarketSize and Trends

The Asia Pacific wound care biologics market is estimated to be valued at US$ 296.1 Mn in 2022 and expected to exhibit a CAGR of 7.6% during the forecast period (2022-2030).

Figure 1. Asia Pacific Wound Care Biologics Market Share (%) in Terms of Value, By Product Type, 2022

Figure 2. Asia Pacific Wound Care Biologics Market Share (%), By Application, 2022

The increasing prevalence of diabetes is expected to drive the market growth during the forecast period.

The increasing prevalence of diabetes in Asia is expected to drive the Asia Pacific wound care biologics market growth over the forecast period. For instance, according to the data published in Journal of Diabetology in 2018, the number of people with diabetes in Southeast Asia in 2017 was 80 million, and this is expected to increase to 151 million by 2045.

The rising incidence of chronic wounds and ulcers is expected to drive the market growth during the forecast period.

The rising incidence of chronic wounds and ulcers is expected to propel the Asia Pacific wound care biologics market growth over forecast period. For instance, according to data published by the World Health Organization (WHO) in March 2018, over 1,000,000 people were moderately or severely burnt every year in India

Asia Pacific Wound Care Biologics Market – Impact of Coronavirus (COVID-19) Pandemic

Supply chain and manufacturing activities in India and China have been disrupted due to lockdowns implemented by governments for the past two years. The coronavirus or COVID-19 outbreak that started from Wuhan, China has spread across continents, affecting various industries globally. The supply of key materials has been severely disrupted due to forced quarantine and lack of labor and raw materials. As the link between regional warehouses is not smooth, the transportation of raw materials between regions cannot be carried out successfully. This shortage of raw materials and components has affected the supply chain of the Asia Pacific wound care biologics market. Due to a severe shortage of medical resources at the front line, only patients diagnosed with serious conditions can be hospitalized. Unfortunately, the pathogenic mechanism of the virus has not been identified completely, and therefore, there is no specific drug and treatment except for symptomatic and supportive treatments. Respiratory support devices such as life-support machines, atomizer, oxygen generators, and monitors are primary clinical treatment medical devices for the COVID-19. Thus, from diagnosis to cure, the need for instruments for measuring temperature, nucleic acid diagnostic kits, antiviral medical products, and life-support machines have increased consistently. Furthermore, the COVID-19 pandemic has impacted the global economy, and in turn, the Asia Pacific wound care biologics market. Quarantines, traveling constraints, and social distancing measures are likely to lead to a steep decline in business and consumer spending.