On May 21, Molnlycke Health Care and Zhende Medical, a Shaoxing, Zhejiang province-based supplier of medical care and protection, announced plans to form a new joint venture company in China to accelerate growth in the market. [Photo/Molnlycke Health Care’s website]
For Molnlycke Health Care, a global leader in medtech and one of the world’s largest wound care solutions providers, China is a market with long-term vast opportunities, said its China head.
Jakob Sonnenberg, general manager of Molnlycke’s China unit, said: “China is quite a big market for us. We have over 20 years of history in China. Currently, we have one of the largest market shares in China’s advanced wound care market.”
Jakob Sonnenberg
He noted that wound treatment was not only medical, but also psychological. People live with their wounds. Specifically, when people have chronic wounds and don’t treat them well, it was harmful to their quality of life. “This is our mission: to relieve the pain of people.”
Data from market consultancy Grand View Research showed that China is among the fastest-growing markets for high-end wound treatment.
Currently, China’s advanced wound dressings market is valued at 3 billion yuan ($442.8 million), driven by rising chronic disease prevalence, an aging population and increasing demand for advanced treatment solutions.
It was estimated that between 2024 and 2030, China’s wound treatment market will grow at a compound annual growth rate of 4.5 percent, while that of the developed markets will be merely 2 to 3 percent.
“The demand in China for advanced wound treatment has been growing. To realize our mission and help more patients, we look for local partners,” Sonnenberg said.
On May 21, Molnlycke Health Care and Zhende Medical, a Shaoxing, Zhejiang province-based supplier of medical care and protection, announced plans to form a new joint venture company in China to accelerate growth in the market.
The joint venture, majority-owned by Molnlycke Health Care, will integrate the two companies’ advanced wound care portfolios and commercial capabilities to offer healthcare providers, patients and the public expanded access to advanced treatments, improved care delivery and better patient outcomes across China.
As a first mover in establishing a joint venture of such kind in the Chinese wound care market, Molnlycke Health Care and Zhende Medical see this strategic collaboration as an opportunity to help accelerate the evolution of China’s wound care landscape toward more advanced standards of treatment.
“The partnership demonstrates the strength, resilience and long-term ambition of both companies. By combining our complementary capabilities and deep market knowledge, we are well-positioned to meet the growing demand for advanced wound care solutions in China,” said Xu Dasheng, board director, executive deputy general manager and executive president of Zhende Medical.
Liu Lihe, a partner of Shanghai-based China Insights Consultancy, said: “China’s wound care market remains a vast opportunity. There is increased penetration rate in chronic wound scenarios, wound care products are upgraded, and advanced dressing companies are working with grassroots doctors, nurse stations, rehabilitation institutions, pharmacies and home care platforms, further opening the market space.”
Operating as a standalone entity, Molnlycke Zhende will have its headquarters in Shanghai. It is expected to be operational during the third quarter, and will initially focus on sales and distribution of both companies’ advanced wound care products, according to the company sources.
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