Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Wound care management products are classified into traditional wound care and advanced wound care products. Globally, traditional wound care management is more popular, in which health practitioners use wound care products such as medical tapes, dressings, and bandage rolls to protect the wound from external factors and to prevent bleeding and infections. Advanced wound care products encourage natural healing process, without blocking the wound and include the use of foam dressings, alginates, hydrogels, and hydrocolloids. These products maintain the conducive environment of wound healing, optimum oxygen flow, consistent temperature, and protection from external environment.
During this COVID-19 pandemic situation, the advanced wound care management market in India has caused an influx of patients in hospitals and acute care facilities. As a result, any procedure or service that is deemed “non-essential” is being shut down immediately. Many hospitals have already categorized wound care as “non-essential.” Patients with diabetes, hypertension, venous insufficiency, and peripheral artery disease are at high risk of getting COVID-19 infection which could lead to other infections, sepsis, amputations or even fatalities. Further, if non-healing wounds, left untreated and unmanaged, because of unavailability of wound care products can result in significant medical issues including infection, sepsis, the need for limb amputation, and even death.
The India advanced wound care management market is estimated to be valued at US$ 484.8 million in 2020 and is expected to exhibit a CAGR of 5.8% during the forecast period (2020-2027).
Figure 1. India Advanced Wound Care Management Market Share (%) Analysis, By Product Type, 2020
Increasing product launches and increasing research and development activities are expected to drive growth of the India advanced wound care management market
The India advanced wound care management market is expected to witness significant growth over the forecast period, owing to innovative product launches in wound care management in India. For instance, in February 2019, Axio Biosolutions, an India-based medtech company, launched MaxioCel, a next-generation wound care dressing made of chitosan in New Delhi, India. The product is expected to provide comfort and faster healing to patients suffering from chronic wounds such as pressure ulcers, diabetic foot ulcers, venous leg ulcers, cavity wounds, skin abrasions, and post-operative surgical wounds.
Moreover, many academic and research institutes are engaged in research and development activities, which is expected to accelerate growth of the India advanced wound care management market over the forecast period. For instance, the biomedical engineering wing of the Indian Institute of Technology (IIT), Ropar, in collaboration with the Ohio State University, U.S., developed a potential targeted therapeutic procedure, which could benefit the diabetic patients undergoing surgical procedures or having suffered chronic or acute injuries. The researchers reported that the new-age technology, which has shown promising results when tested on small animals, including rats, can prove beneficial for millions of diabetic patients and also help medical professionals offer better treatment to the patients. The procedure is under clinical trials.
India Advanced Wound Care Management Market - Restraints
However, the shortage of doctors and nurses in India is expected to hamper the India advanced wound care management market growth in the near future. For instance, according to the World Health Organization (WHO), India has shortage of an estimated 600,000 doctors and 2 million nurses. There was only one government doctor for every 10,189 people in India in 2019. Furthermore, India is a middle-income country and a considerable amount of population lives in rural areas. In India, the healthcare facilities are not readily available in rural areas. Many rural areas in India are lacking basic healthcare facilities for people. For instance, according to a report named ‘Rural Healthcare Sector : A Challenge yet to be resolved’ published in July 2018, only 11% sub-centers, 13% primary health centers (PHCs), and 16% community health centers (CHCs) in rural India meet the Indian Public Health Standards (IPHS) and many health care facilities are lacking healthcare settings in rural India.
India Advanced Wound Care Management Market – Regional Analysis
West India accounted for the largest share in the India advanced wound care management market in 2019, owing to high presence of large manufacturing facilities and local players in West India. For instance, Elkem South Asia Pvt Ltd. (A Bluestar Company) has its large manufacturing facility at Mumbai and Axio Biosolutions, developer of Axiostat Chitosan Hemostatic Dressing, has its manufacturing facility in Gujarat.
Furthermore, South India advanced wound care management market is expected to grow significantly, owing to presence of local players such as Zywie Pharmaceuticals Pvt. Limited., Virchow Biotech Private Limited, Sangam Healthcare Products Ltd., Pradeep Surgical Dressings Private Limited., Fibroheal Woundcare Pvt. Ltd., and others in the region. These players are engaged in manufacturing and distribution of advanced wound care management products in the region and throughout India.
Figure 2. India Advanced Wound Care Management Market Value (US$ Mn) & Y-o-Y Growth (%), 2017-2027
India Advanced Wound Care Management Market - Competitive Landscape
Key players operating in the India advanced wound care management market include 3M Company, Medtronic Plc, Baxter International, Inc., Coloplast A/C, Smith and Nephew, Johnson & Johnson, and Convatec Inc.