by Advanced wound care management products play a vital role in healing chronic and acute wounds effectively and accelerating the healing process. Wound care dressings, bioactive therapies, wound cleaning agents andNegative Pressure Wound Therapy devices are extensively utilized for managing chronic and acute wounds. The rising incidences of chronic wounds such as pressure ulcers, venous ulcers and diabetic foot ulcers attributed to the rising geriatric population and increasing cases of obesity and diabetes are augmenting demand for advanced wound care management products.
The global India Advanced Wound Care Management Market is estimated to be valued at US$ 263 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising incidences of chronic wounds is one of the major factors driving the growth of the India advanced wound care management market. According to the report published by Plastic Surgeons India, in 2022 over 50 million people were suffering from pressure ulcers, venous leg ulcers and diabetic foot ulcers in India. Advanced wound care products help in faster wound healing and prevent infections and complications associated with chronic wounds. Hence, increasing prevalence of chronic wounds is expected to drive the demand for advanced wound care management products over the forecast period.
SWOT Analysis
Strength: India’s growing healthcare industry contributes to the increasing availability of advanced wound care products. Rising awareness regarding wound care treatment aids market growth.
Weakness: High costs associated with advanced wound care management act as a barrier. Low accessibility and affordability in rural areas.
Opportunity: Growth opportunities exist in developing wound dressings, grafts, and bioengineered skin substitutes. Untapped rural markets can be targeted.
Threats: Presence of conventional and alternative treatment methods limits market uptake. Stringent regulatory norms hinder product development.
Key Takeaways
The India Advanced Wound Care Management Market Size is expected to witness high growth. India accounts for over 20% of the world’s burden of chronic non-healing wounds due to a large diabetic population and growing geriatrics. The market is projected to grow at a CAGR of 7.3% during the forecast period.
Regional analysis indicates that North India dominates the market currently due to better healthcare access and high wound incidence rates. However, South India is expected to be the fastest growing region aided by expansion of healthcare facilities in cities and growing medical tourism.
Key players operating in the India advanced wound care management market are Toshiba Corporation. Toshiba offers advanced wound dressings in India such as alginate dressings, film dressings, and hydrocolloid dressings. It is one of the leading players catering to over 30% of the domestic demand for wound management products. Other domestic players are expanding their product portfolios through partnerships to strengthen market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
