How is the Rising Geriatric Population in Hong Kong Contributing toward Boom in Wound Care Market?
The Hong Kong wound care market held an estimated value of $44.6 million in 2019, which is projected to reach $58.4 million by 2024, progressing at a CAGR of 5.6% during the forecast period (2019–2024).
By: P&S Intelligence
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Due to these factors, the Hong Kong wound care market is expected to progress at a CAGR of 5.6% during the forecast period (2019–2024)
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This is also why such products are currently a rage in the Hong Kong wound care market, and the preference of an increasing number of consumers is shifting toward advanced wound care therapies. The main reasons behind this shifting preference are the numerous advantages provided by such therapies and products, such as their ability to provide rapid healing and quick relief to the patients. Moreover, the advanced wound care procedures carry lower risks of infection, as compared to the conventional methods of wound care. For instance, Biatain alginate, offered by Coloplast A/S, is a highly absorbent alginate dressing, applied on moderate-to-
Hence, it can be concluded that owing to the soaring geriatric population and increasing occurrence of numerous chronic diseases and ailments in this global financial hub, the demand for wound care products and therapies will witness a massive growth in the coming years.