Traditional wound care and advanced wound care products are used to treat acute and chronic wounds. Advanced wound care is emerging as a standard solution treat chronic wounds, which take substantial time to heal and are expensive to treat. 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 are the key driving factors of the market.
The Philippines wound care market size was valued at $41.83 million in 2015, and is projected to reach $64.52 million by 2022, registering a CAGR of 6.4% during the forecast period. The growth of the market is attributed to the rapidly ageing 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 towards advanced treatment protocols and significant unmet needs in wound care act as the 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, and is further classified into silver dressings, non-silver dressings, and collagens. Exudate management is sub-segmented 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.
Applications covered in the study include chronic wound care and acute wound care. Based on end user, the market is categorized into hospitals and community centers.
KEY BENEFITS FOR STAKEHOLDERS
Philippines Wound Care Market Key Segments:
By End User
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