The wound dressing market in Hong Kong is predicted to reach a value of $27.1 million by 2024, witnessing a CAGR of 5.5% during the forecast period (2019–2024). The factors responsible for the growth of the market include the increasing incidence of traumatic injuries, rising geriatric population, and surging prevalence of diabetes. Wound dressings are used for the treatment of chronic, acute other types of wounds. They accelerate the healing of the wound by providing thermal insulation, absorbing exudates, preventing the entry of infectious agents, and allowing gaseous exchange.
The increasing prevalence of diabetes is among the major driving factors of the Hong Kong wound dressing market. As per the Centre of Health Protection, diabetes is one of the major causes of mortality and morbidity in Hong Kong. Furthermore, obese people have a higher probability of suffering from diabetes. Wound development in diabetic patients is rapid and they tend to heal slowly. For instance, diabetic foot ulcer, a chronic complication of diabetes mellitus, needs to be dressed frequently for effective management, thereby leading to the rising demand for wound dressings.
The Hong Kong wound dressing market is divided into long-term care settings, home healthcare, and hospitals & specialty clinics, on the basis of end-user. Out of these, the hospitals & specialty clinics division accounted for the major share of the market during the historical period and is also projected to experience the highest CAGR, of 6.0%, during the forecast period. The reason for this is the growing applications of advanced wound dressing products in hospitals in Hong Kong in order to address the needs of chronic wound patients.
A key trend in the Hong Kong wound dressing market is the shift in preference from traditional products to advanced therapies. While traditional products facilitate dry healing when used for primary or secondary dressing, advanced variants accelerate the healing, thereby providing relief quickly to the patients. Since delayed wound healing poses challenges for both the patients and healthcare professionals, they are becoming more inclined toward adopting advanced wound dressing products, as they carry a lower risk of infections and facilitate faster healing of the wound.
The rapidly growing geriatric population and increasing prevalence of diabetes in Hong Kong are thus leading to the growth of the market.
The increasing prevalence of diabetes is among the major driving factors of the Hong Kong wound dressing market. As per the Centre of Health Protection, diabetes is one of the major causes of mortality and morbidity in Hong Kong. Furthermore, obese people have a higher probability of suffering from diabetes. Wound development in diabetic patients is rapid and they tend to heal slowly. For instance, diabetic foot ulcer, a chronic complication of diabetes mellitus, needs to be dressed frequently for effective management, thereby leading to the rising demand for wound dressings.
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A key trend in the Hong Kong wound dressing market is the shift in preference from traditional products to advanced therapies. While traditional products facilitate dry healing when used for primary or secondary dressing, advanced variants accelerate the healing, thereby providing relief quickly to the patients. Since delayed wound healing poses challenges for both the patients and healthcare professionals, they are becoming more inclined toward adopting advanced wound dressing products, as they carry a lower risk of infections and facilitate faster healing of the wound.
The rapidly growing geriatric population and increasing prevalence of diabetes in Hong Kong are thus leading to the growth of the market.
