How is Rising Prevalence of Diabetes Driving Hong Kong Wound Care Market?

The key factors leading to the growth of the market are the increasing incidence of traumatic injuries, surging prevalence of diabetes, and rising geriatric population. The market is bifurcated into traditional an advanced, on the basis of type. 

Between these two, the advanced bifurcation held the larger revenue share of the market in 2019, as advanced wound care products aid in accelerating the wound healing process and further provide patients with convenience. In addition to this, these wound care products have the advantage of forming part of the natural tissue matrix. The increasing prevalence of chronic diseases across the globe is also driving the demand for advanced wound care products. The bifurcation is further divided into wound therapy devices, wound dressings, and wound care biologics. 

In terms of application, the Hong Kong wound care market is categorized into acute wounds an chronic wounds, between which, the chronic wound category held the major share of the market in 2019. The category is further projected to grow at a faster pace during the forecast period, owing to the surging incidence of diabetic foot ulcers, venous leg ulcers, and pressure ulcers. Chronic wounds need frequent and more-efficient dressing for their management, which is leading to the growth of the market. 

The surging incidence of traumatic injuries in the country are a key factor leading to the growth of the Hong Kong wound care market. Road accidents are majorly responsible for open wounds and traumatic injuries in Hong Kong. According to the data published by the Transport Department of the Government of Hong Kong, the causality rate of road accidents in 2018 was 2.6 per 1000 population. Moreover, road accidents often lead to severe wounds, thereby driving the demand for advanced wound care products. 

The rapidly increasing prevalence of diabetes is also a major factor resulting in the growth of the Hong Kong wound care market. As per the Centre for Health Protection, which is an agency under the Department of Health of Hong Kong, in 2017, diabetes was the major cause of mortality and morbidity in the metropolis. Diabetic patients are highly susceptible to developing wounds, and the wound healing process is further slowed down because of diabetes, which creates high demand for wound care products. 

In conclusion, the market is growing due to the increasing prevalence of traumatic injuries and rising incidence of diabetes in Hong Kong. 

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