Wound Care in South Korea: New research report available at Fast Market Research

From: Fast Market Research, Inc.
Published: Tue Jan 19 2016

Wound care in South Korea saw strong growth in 2015, with double-digit retail value sales growth seen for the second consecutive year. This sharp growth was driven by the strong retail value sales growth seen by gauze, tape and other wound care, especially opaque dressing, such as Medifoam. Opaque dressing is excellent at healing wounds, is waterproof, and is known to leave less scar tissue behind. Previously, opaque dressing was used in hospitals as part of treatment after surgery or for intensive wounds. As products for ordinary consumers are now available in a diverse range of formats and sizes, demand is soaring.

Competitive Landscape

Mundipharma Korea Ltd gained leadership of wound care in South Korea in 2014, after it acquired rights to the Medifoam brand. In 2015, the company accounted for a leading retail value sales share of 29%. Following, Mundipharma Korea Ltd are domestic companies on retail value sales shares of around 5% to 10%. The second leading manufacturer, Boryung Pharmaceutical Co Ltd, remains some distance behind the leading player, with a retail value sales share of 11% in 2015. However, as a result of intensifying competition, Mundipharma saw a one percentage point loss of retail value sales share in 2015, down from 30% to 2014.

Full Report Details at
- http://www.fastmr.com/prod/1110524_wound_care_south_korea.aspx?afid=301

Industry Prospects

Wound care is expected to see healthy performance over the forecast period, with sales growing at a CAGR of 3% at constant 2015 prices to reach Won36.2 billion in 2020. To better fit consumer demand, it is likely that the category will see increasing diversification, in terms of product sizes and formats. In gauze, tape and other wound care, many brands come in the form of one large patch, which consumers are required to cut to the desired size. However, to satisfy consumer demand for convenience and to maximise company revenue, it is likely that a range of different products will be launched over the forecast period.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Wound Treatments industry in South Korea with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Wound Treatments industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.

The Wound Treatments in South Korea market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth

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