Rise of wound care markets and medical tourism

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The wound care market in Malaysia has witnessed steady growth on the back of growing awareness among patients and healthcare professionals about the various wound care products and their benefits. Most wound care companies focus more on basic wound care products as the market for advanced wound care products is growing slowly due to the high cost factor. However, despite its slow growth, the advanced wound care market in Malaysia is picking up momentum as clinicians understand the importance of these products in wound treatment.

Moreover, Malaysia has become the hub for medical tourism, as patients are flocking to the country for affordable treatment. The influx of foreign patients will encourage local hospitals to enhance their wound care products. In 2010 hospitals recorded 165,095 foreign patients, which resulted in revenues of $47.0 million, notes the analyst of this research service. A revenue growth of 12.0 percent is envisaged for medical tourism activities and this will drive the advanced wound care market in Malaysia. Surgery wounds were the highest in 2010, with 342,628 cases reported, owing to the high number of foreign patients undergoing cosmetic and orthopedic surgeries. This was followed by diabetic ulcers, which recorded 188,892 wound incidences.

Ref and Read more: http://www.reuters.com/article/2011/09/23/idUS18470+23-Sep-2011+BW20110923

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