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

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Hong Kong Wound Care Market | Revenue Estimation by 2030

The Hong Kong wound care market size was $46.0 million in 2019, and it is further expected to grow at a CAGR of 5.4% during the forecast period (2020–2030). Key trends observed in the Hong Kong wound care industry is the shift in preference from traditional products to advanced therapies.

https://www.psmarketresearch.com/market-analysis/hong-kong-wound-care-market?utm_source=bebee&utm_medium=Pramod

 
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The Hong Kong wound care market is predicted to reach a value of $80.7 million by 2030, rising from $46.0 million in 2019, progressing at a 5.4% CAGR during the forecast period (2020–2030), as stated by a P&S Intelligence report.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. 

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