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.
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.
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
By Product
- Advanced Wound Care
o Infection Management
- Silver Wound Dressings
- Non-silver Wound Dressings
- Collagen Dressings
o Exudate Management
- Hydrocolloid Dressings
- Foam Dressings
- Alginate Dressings
- Hydrogel Dressings
o Active Wound Care
- Skin Substitutes
- Growth Factors
o Therapy Devices
- Negative Pressure Wound Therapy (NPWT)
- Oxygen & Hyperbaric Oxygen Equipment
- Electromagnetic Therapy Devices
- Others
- Surgical Wound Care
o Sutures & Staples
o Tissue Adhesives, Sealants, & Glues
- Fibrin-Based Sealants
- Collagen-Based Sealants
- Synthetic Adhesives/Glues
o Anti-Infective Dressings
- Traditional/Basic Wound Care
o Medical Tapes
o Dressings
o Cleansing Agents
By Application
- Chronic Wounds
o Pressure Ulcers
o Diabetic Foot Ulcers
o Venous Leg Ulcers
o Arterial Ulcers
- Acute Wounds
o Burns & Trauma
o Surgical Wounds
By End User
- Hospitals
- Community Health Service Centers
LIST OF KEY PLAYERS PROFILED IN THE REPORT
- 3M Company
- Smith & Nephew Plc.
- Coloplast A/S
- Medtronic Plc
- ConvaTec Group Plc
- Cardinal Health, Inc.
- BSN Medical GmbH
- Mundipharma International Ltd.
- B. Braun Melsungen AG
- Urgo Medical
Table of Contents
Chapter 1: INTRODUCTION
Chapter 2: EXECUTIVE SUMMARY
Chapter 3: MARKET OVERVIEW
Chapter 4: PHILIPPINES WOUND CARE MARKET, BY PRODUCT
Chapter 5: PHILIPPINES WOUND CARE MARKET, BY APPLICATION
Chapter 6: PHILIPPINES WOUND CARE MARKET, BY END USER
Chapter 7: COMPANY PROFILES
Executive Summary
According to this report titled, 'Philippines Wound Care Market by Product, Application, and End User: Opportunity Analysis and Industry Forecast, 2018 - 2025,' the Philippines wound care market was valued at $51 million in 2017, and is projected to reach $85 million by 2025, registering a CAGR of 6.5% from 2016 to 2022. The surgical wound care segment accounted for nearly two-fifths share of the total market in 2017.Wound care management involves the use of dressing products coupled with drug formulations and offers several benefits such as lower healing time. Wound care products are widely adopted to treat chronic and acute wounds. Advanced wound care products are emerging as a standard solution to treat acute and chronic wounds. Surgical suture is a medical device used to stitch the crustaceous wounds, and to close surgical incision site. It is used to hold internal organs, skin, blood vessels, and all other tissues of the human body. Traditional wound care products are increasingly being substituted with advanced wound care products due to their efficiency and effectiveness to treat wounds by enabling faster healing.
Surge in geriatric population & favorable demographics; rise in incidence of diabetes, obesity, and chronic conditions; technological advancements in complex wound management; and increase in awareness to reduce healthcare costs drive the growth of the market. However, reluctance in adoption of new technologies, development of substitute products, and lack of sufficient evidence restrain the growth of the market. Conversely, increased focus toward advanced treatment protocols and significant unmet needs in wound care are expected to offer remunerative opportunities for market players.
Based on product, the market is classified into advance wound care, surgical wound care, and traditional/basic wound care. The surgical wound care segment is expected to maintain its dominant position throughout the analysis period, due to increase in accidents and numbers of surgeries in the country.
Based on application, the market is bifurcated into chronic wounds and acute wounds. The chronic wounds segment is anticipated to exhibit the highest CAGR during the forecast period, due to the rise in geriatric population, increase in awareness toward wound care management, and improved diagnosis fuel the demand for chronic wound care products.
Key Findings of the Philippines Wound Care Market:
Based on end user, the community centers segment accounted for a major share (more than three-fifths) of the Philippines wound care market in 2017.
Based on product, the infection management segment was the major segment of Philippines advanced wound care market (accounting for more than one-third share of the advanced wound care market).
Based on product, the active wound care segment is projected to grow at a remarkable CAGR of 17.0% from 2018 to 2025.
Based on application, the chronic wounds segment accounted for a major share (more than three-fifths) of the overall market in 2017.
The major companies profiled in the report include 3M Company, Smith & Nephew Plc., Coloplast A/S, Medtronic plc, ConvaTec Group Plc, Cardinal Health, Inc., BSN Medical GmbH, Mundipharma International Ltd., B. Braun Melsungen AG, and Urgo Medical. The other players in the value chain include Mebo International Group, Total Wound Care Solution Corporation Philippines, ASO Philippines, Inc., Medline Industries, Inc., and others.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 165 |
| Published | March 2019 |
| Forecast Period | 2017 - 2025 |
| Estimated Market Value ( USD | $ 51 million |
| Forecasted Market Value ( USD | $ 85 million |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Philippines |
