South Korea Wound Care Management Market Trends

Tissue adhesives, sealants, and glue are the products used for wound closure after a surgical procedure (minor or major). With a rise in surgeries performed in the country, the demand for such products is expected to grow. Thereby, driving the segment growth.

The Korea Health Industry Development Institute (KHIDI) and Ministry of Health and Welfare (MOHW) data updated in August 2021 shows that South Korea received unprecedented numbers of medical tourists from 190 nations, before the coronavirus (COVID-19) outbreak. Additionally, more than 117 thousand patients visited the country for medical reasons in 2020 and internal medicine was the most frequently visited medical department by foreign patients in Korea, followed by plastic surgery and dermatology.

Also, as per the above-mentioned source, patients from Asian countries such as China, Japan, and Thailand primarily came to Korea for cosmetic surgery and dermatology. Such demand for surgical procedures in the country is expected to increase the number of surgeries. The increasing number of surgeries is increasing the demand for wound closure required post-surgery. Thus, the rising number of surgical procedures in the country is predicted to generate demand for the tissue adhesives, sealants, and glue used for wound closure. Thereby, driving the segment growth in the country over the forecast period.

Furthermore, according to a poll conducted in June 2021 by the Hana Institute of Finance in Seoul, cosmetic surgery and skin clinics in South Korea witnessed a 10% increase in sales in the first ten months of 2020 compared to the year prior year. Thus, a growing number of surgical procedures are likely to increase the demand for surgical sealants, tissue adhesives, and glues in healthcare settings, in turn, it is expected to fuel overall segment growth.

Therefore, owing to the aforementioned factors the segment is anticipated to witness growth over the forecast period.