Asia Pacific Self-Adherent Wraps Market Forecast to 2028– COVID-19 Impact and Regional Analysis– by Type (Sterile and Non-Sterile) and End Use [Hospitals, Specialty Clinics, Household Healthcare (Pharmacies, Online, and Other Household Healthcare), and Others]
The Asia Pacific self-adherent wraps market is expected to grow from US$ 85.83 million in 2022 to US$ 120.10 million by 2028. It is estimated to grow at a CAGR of 5.8% from 2022 to 2028.
Increasing Investments in Healthcare Infrastructure Fuel Asia Pacific Self-Adherent Wraps MarketVarious countries worldwide are focusing on enhancing healthcare infrastructure in line with the highest global standards and specialized treatment. Investments in strengthening health system resilience aim to protect people, fortify the foundations of health systems, and provide better health services to people. For instance, in India, the government launched Ayushman Bharat Scheme in 2018 to provide comprehensive primary health care. As part of this scheme, 1.5 lakh Ayushman Bharat-Health and Wellness Centres (AB-HWCs) are being set up across the country by upgrading Sub-Health Centres (SHCs), Primary Health Centres (PHCs), and Urban Primary Health Centres (UPHCs). According to the news released in March 2021, the Government of Ontario (a province of Canada) announced its plans to invest up to US$ 41.8 million (CAD 53 million) in constructing the new Grey Bruce Health Services Markdale Hospital. This hospital is expected to replace the old facility and boost capacity and access to care for patients and families in Grey County and the neighboring areas. As a result of increasing investments in healthcare infrastructure, the demand for various medical products required to treat patients, including self-adherent wraps, is expected to grow. Self-adherent wraps are used in applications such as emergency rooms, intensive care units, surgeries, wound care, cardiovascular, and critical care. Hence, the increasing investments in healthcare infrastructure is expected to provide more opportunities for the Asia Pacific self-adherent wraps market growth during the forecast period.
Asia Pacific Self-Adherent Wraps Market OverviewAsia Pacific is characterized by steady growth in population, growing disposable income of people, and high healthcare expenditure per capita. According to the World Health Organization, the average healthcare expenditure per capita in Southeast Asia (ASEAN) was US$ 544, constituting around 4% of the total GDP, in 2019. According to a report published by the US Census Bureau in 2022, the population of Asia reached 4.5 billion in 2020. As per the same report, the population aged 65 or above in Asia is projected to reach 1.2 billion by 2060 from 414 million in 2020. Self-adherent wraps are used in geriatric care to manage chronic conditions, provide joint support, and stabilize wounds. Thus, growth of healthcare sector, the upsurging geriatric population and rising cases of sports-related injuries are expected to drive the growth of the Asia Pacific self-adherent wraps market in Asia Pacific during the forecast period.
Asia Pacific Self-Adherent Wraps Market Revenue and Forecast to 2028 (US$ Thousand)
Asia Pacific Self-Adherent Wraps Market SegmentationThe Asia Pacific self-adherent wraps market is segmented into type, end use, and country.
Based on type, the Asia Pacific self-adherent wraps market is segmented into sterile and non-sterile. The non-sterile segment held a larger share of the Asia Pacific self-adherent wraps market in 2022.
Based on end use, the Asia Pacific self-adherent wraps market is segmented into hospitals, specialty clinics, household healthcare, and others. Household healthcare is segmented into pharmacies, online, and other household healthcare. The household healthcare segment held the largest share of the Asia Pacific self-adherent wraps market in 2022.
Based on country, the Asia Pacific self-adherent wraps market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The Rest of Asia Pacific dominated the share of the Asia Pacific self-adherent wraps market in 2022.
3M Co; Cardinal Health Inc; Essity AB; Medline Industries LP; Performance Health Holding Inc; Steroplast Healthcare Ltd; and Walgreens Co are the leading companies operating in the Asia Pacific self-adherent wraps market.
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