by The India Advanced Wound Care Management market is estimated to be valued at US$ 275.5 million in 2022 and is expected to exhibit a CAGR of 5.1% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Advanced wound care products help manage both chronic and acute wounds efficiently. This includes dressings, biologics, and therapy devices to treat ulcers, burns, and post-surgical wounds. The rising incidence of diabetes and associated foot ulcers, combined with road accidents and burn injuries, is expected to drive the demand for advanced wound management in India.
Market Dynamics:
The India advanced wound care management market is witnessing healthy growth on account of two key drivers – rapid urbanization leading to changing lifestyle diseases and increasing healthcare expenditure. Urbanization has led to sedentary lifestyle among Indians and related health issues like diabetes and obesity. Furthermore, India’s healthcare spending has grown significantly over the past few years as individuals seek better medical treatment and the government pushes for achieving universal healthcare by 2025 under the Ayushman Bharat program. This has positively impacted the demand for advanced wound solutions.
Here is the report content for the given details:
Market key trends:
The India advanced wound care management market has been witnessing rise in chronic wounds such as diabetic foot ulcers, pressure ulcers and venous leg ulcers. According to estimates, diabetes alone affects over 77 million people in India. Prolonged hospital stays and resource intensive treatments often associated with chronic wounds have been imposing huge cost burden on patients as well as the healthcare system. This has boosted demand for advanced wound care products that can accelerate healing and prevent infection. With growing focus on cost effective solutions, wound care products based on new technologies such as silver nanoparticles, electromagnetic therapy and oxygen therapy have gained popularity in the last few years.
SWOT Analysis
Strength: Presence of major global players with wide range of advanced product portfolio.
Weakness: High costs of advanced wound care products limits widespread adoption.
Opportunity: Rising incidence of chronic wounds and diabetic foot ulcers driven by growing older population.
Threats: Limited healthcare budget and lower bargaining power of buyers in price sensitive market.
Key Takeaways
The global India advanced wound care management market is expected to witness high growth, exhibiting CAGR of 5.1% over the forecast period, due to increasing prevalence of diabetes in the country.
Regional analysis
The North region currently dominates India’s advanced wound care management market owing to better access to healthcare facilities and higher awareness about new treatment options. However, West region is expected to fuel fastest growth during the forecast period supported by evolving healthcare infrastructure and rising medical tourism.
Key players
Key players operating in the India advanced wound care management are Smith and Nephew Plc, Coloplast A/S, Johnson and Johnson, 3M, Convatec Group Plc, Cologenesis Healthcare Pvt Ltd, Mil laboratories Pvt Ltd, Essity AB, Eucare Pharmaceuticals Ltd. These players are focussed on expanding their footprint through strategic collaborations with local distributors.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
