Hong Kong Wound Dressing Market Is Driven by Growing Aging Population

The Hong Kong wound dressing market is witnessing growth and is projected to reach USD 70.6 million by 2030. This growth of the market can be credited to the thriving elderly populace, the growing occurrence of diabetes, and the high occurrence of traumatic wounds.

In recent years, the advanced products category had a larger share in the Hong Kong wound dressing industry, on the basis of type. This can be credited to the fact that such items ease appropriate oxygen flow, uphold a steady temp around the wound, offer safety from contagions, eliminate dead tissues, permit new cells to develop, and release pain during dressing change.

During the projection period, the chronic wounds category is projected to be the quicker-rising category in the industry for wound dressing in the city, on the basis of application. This will primarily be because of the high occurrence of diabetes mellitus, which commonly primes to diabetic foot ulcers, a kind of chronic wound.

Hospitals and specialty clinics have developed as the highest-income-generating, and also the fastest increasing category, among all the end users in the Hong Kong wound dressing market, credited to the better footfall of patients and growing convenience of such places to individuals with changing incomes.

During the historical period, the pharmacy category accounted for the largest share of the market for wound dressing in the megacity and is expected to maintain its position during the forecast period on the basis of distribution channels. This can be due to the fact that a greater variety of dressings is easily available at pharmacies.

In Hong Kong, a move has been witnessed in customer fondness from old-style wound dressing items to improved items, which would direct to substantial development of the wound dressing industry in the nation.

Advanced wound dressings, like hydrocolloid dressings and hydrogel dressings, quicken healing and also offer ideal ease and fast recovery. For instance, Coloplast A/S’s Biatain Alginate is a very spongy alginate dressing for moderate-to-heavy-exuding injuries. 

Likewise, ConvaTec Group PLC’s AQUACEL Ag Foam is a silver foam dressing that provides fast and effective antimicrobial action.

The growing elderly populace is playing a vital role in the development of the industry of wound dressing in Hong Kong. As per the Chinese University of Hong Kong, the percentage of elderly 65 years and older was 11.7% of Hong Kong’s total populace in 2003, which is estimated to touch 27% by 2033. As the aging are more disposed to medicinal conditions credited to their physical and immunological weakness, they produce a substantial demand for wound dressing items.

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Advanced Wound Care Helping Treat Diabetic Foot Ulcers

People suffering from diabetes are more prone to foot ulcers. Ulcers are open wounds on the skin that don’t heal in an apt way. If they are left untreated, they might become severe. On average,14-24% of people with diabetes can develop an ulcer and have their lower limb removed.

One of the initial signs of foot ulcers is discharge from your foot that may stain your socks. Irregular inflammation, pain, soreness, and odors from feet infected are common indications of a foot ulcer.

Why are foot ulcers healing slowly?

When you are a diabetic patient, more than a few factors can affect your body’s capability to heal ulcers. A diabetic foot ulcer has numerous reasons, frequently including neuropathy, external ischemia, or both. A number of them are:

• High levels of blood sugar

• Poor circulation

• Neuropathy

• Infection

• Immune system deficiency

If there is an ulcer or you notice any alteration in your skin that you’re uncertain about, don’t hesitate to take a doctor consultation, it could be a general physician or a one who is a diabetes specialist. A debridement process will be administered to the infested area, eliminating unhealthy tissue from the wound to increase the speed of healing. The doctor will also try to keep your wound or ulcer from becoming infected and more significant.

If the foot ulcer is taking time beyond a month or the infection is spreading to the bone, then, other treatments might be needed by the patients. These can comprise surgery and hyperbolic oxygen therapy to aid the body heal.

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Healing Factors of Foot Ulcers

The total time taken in healing depends upon numerous factors. It can be the size of the wound, strain on the ulcer when you are walking or standing for long, blood circulation, location, inflammation, glucose levels, and treatment and dressing administered to the ulcer. Healing might be completed in the span of a few days, or else it can take a few weeks, months, or years based on diverse phases of Foot ulcers.

Shift Toward Advanced Wound Care

If we specifically talk about wound care in Hong Kong, people are shifting away from conventional wound dressing products to innovative products, which is why advanced wound care products are trending in the wound care industry of the city. Traditional dressing usually includes the usage of products facilitating dry healing, acts as secondary dressings to hold the main dressing, or absorbs excess ooze. Innovative wound dressing products, conversely, quicken healing, as well as provide quick relief to patients.

Growing Elderly Population More Prone to Diabetes

The increasing elderly population is more prone to diabetes and needs wound care products than the young population. The count of people 65 years and above is snowballing in Hong Kong, which continues to power the demand for wound care products.  As per the Chinese University of Hong Kong, the number of people aged 65 years and above in the total population of the city was about 12% in 2003, which will reach 27% by the year 2033.

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North America Is Dominating the Wound Dressing Industry

The size of the wound dressing market was USD 10,427.0 million in 2022, and the figure is set to rise at a CAGR of 6.1% in the duration of 2021–2030 and reach USD 16,751.6 million by the end of this decade, as per P&S Intelligence.

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The growing elderly populace plays a vital role in the advancement of the industry. As per the United Nations Department of Economic and Social Affairs report on global Populace Aging, the percentage of the public aged 60 years and above is rising at a significant rate.

The number of persons aged 60 years and above amplified from 382 million in 1980 to 1 billion in 2019 and is projected to touch approximately 2.1 billion by 2050. Developing countries, including India and China, consists the highest number of elderly people than developed countries, such as Germany, the U.K. France, and the U.S.

The aged populace requires extensive care, as they are more prone to sicknesses due to a high recovery timespan and low immunity. Elderly people have weak body functions resulting in a long time to heal, compared to adults. The reduced blood circulation and reduced collagen deposition result in delayed healing in aging people.

The demand for these dressing items is growing because of the increasing frequency of chronic and lifestyle-associated illnesses, which contributes to a surge in the number of operations, worldwide. The occurrence of chronic diseases, including cancer, heart disease, and respiratory illness is growing because of alterations in lifestyle and lack of preventive care.

Burns are caused by several reasons, including friction, chemicals, electricity, radiation, and heat. They can cause loss of tissue, skin, and blood vessels.

In 2022, North America had the largest wound dressing market share, approximately 45%. The industry is developing because of the fast growth of the elderly population, snowballing number of burn cases and road accidents, and increasing frequency of chronic wounds.

Furthermore, the growing number of burn incidences and road accidents have also amplified the need for several kinds of wound care items like dressings in North America. For example, as per the National Highway Traffic Safety Administration, 42,915 lives were lost because of road accidents in the U.S., in 2021. Moreover, the growing frequency of burn cases and road accidents needs traditional and enhanced dressing items for their treatment.

The growing obese populace is also contributing to advancing the demand for such items in the continent. The obese public is at a high risk of pressure ulcers, which can ultimately lead to an increase in the probability of infections. Fat deposition around the edges of the wounded part stops skin closure and increased healing time. With the surge in the cases of geriatric population, road accidents and elderly population the U.S. had approximately 90% in 2022 of the revenue.

Hence, the surge in geriatric population, road accidents, and increasing burn cases will drive wound dressing in the future as well.

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Why Increase in Elderly Population Propels Growth of Colombia Wound Care Market?

The Colombian wound care market was at a total value of $80.1 million in 2021, and it is expected to propel at a CAGR of 4.5% during the forecast period, to reach $118.7 million by 2030. The main factors for the growth of the market are the rising volume of surgeries, an increase in the incidence of road accidents, burns and other forms of intentional and unintentional trauma, growth in the geriatric population, and surge in the prevalence of diabetes.

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The hospitals and specialty clinics category is expected to experience the fastest growth in the market during 2021–2030, based on the end user. This is because a large number of patients visit hospitals and specialty clinics in case of chronic wounds and severe injuries. These medical centers, though expensive than ambulatory facilities and clinics, provide better services as they employ trained professionals and advanced equipment, which is why they are preferred.

The share of the Advanced wound care category held the larger share in the country in 2021. This can be mainly attributed to the moisture and temperature guidelines and oxygen flow aided by cutting-edge wound care products. Moreover, they need to be altered a lot fewer times when compared to their traditional counterparts, which saves costs and helps in faster healing of wounds, which is a prime reason they are beginning to be preferred by patients.

Cundinamarca was the leader of the wound care market in Colombia in 2021, and it is likely to consolidate in the same way in the coming years. This is majorly attributed to the presence of a large number of hospitals, which is increasing the demand for various wound care products. Bogota is the largest city in this regard, mainly due to the existence of several Joint Commission International (JCI)-accredited hospitals, large population, and constantly improving healthcare services.

There is a shift in consumer preference in the Colombian wound care market from traditional to advanced wound care products. Traditional ones offer dry healing when used as a primary dressing or used as a secondary dressing to hold the primary dressing. Contrarily, advanced wound care products quicken the healing process by keeping the wound area moist. Such advanced products for wound care include a range of dressings, biologics, and therapeutic devices, such as negative-pressure wound therapy (NPWT) devices.

The aging population is growing at a fast rate in Colombia,  and is expected to increase the demand for these wound care products.  in 2019, as per the World Bank, the country had around 8.76% population of 65 years and more, and this further augmented to 9.06% in 2020. Life expectancy in 2019 was 77.2 years (80.0 years for women and 74.58 years for men). Since elderly people are at risk to severe wounds more than anyone else, they call for proper wound care.

The Colombian wound care market is set to grow with the increasing prevalence of diabetes. From around 2.8 million in 2019, the population of diabetes patients in Colombia is expected to increase to 4 million new cases in the coming years, which will increase the demand for advanced products. The country is undergoing a demographic transition because of the sharp rise in the elderly population, falling fertility rate, fast urbanization, and increasing obesity. 

The industry is having a number of market players, which is why the competition among them is intensifying. These stalwarts of the Colombian wound care market, in current times, have been involved in product launches, mergers, to attain a significant position. For example, in January 2021, Integra LifeSciences Holdings Corporation publicized the completion of the previously disclosed acquisition of ACell Inc. and its registered MatriStem UBM technologies. This will allow Integra to offer wide-ranging resolutions for the treatment of critical wounds.

Therefore, the field of wound care in Colombia offers lucrative opportunities to medical devices, pharmaceutical, and life sciences companies, especially with the rising emphasis on advanced wound management methods.

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