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Press Release: India Advanced Wound Care Management Market to Surpass US$ 330.8 Million by 2027
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. Traditional wound care management is more popular across the globe wherein 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 ensure conducive wound healing, optimum oxygen flow, consistent temperature, and protection from external environment.
During the COVID-19 pandemic has caused shortage of patients in hospitals and acute care facilities. As a result, any procedure or service that is deemed ‘non-essential’ is shut down. Many hospitals have already categorized wound care as ‘non-essential’. Patients with diabetes, hypertension, venous insufficiency, and peripheral artery disease are at high risk for COVID-19 infection, which could lead to other infections, sepsis, amputations or even fatalities. Furthermore, non-healing wounds that are left untreated and unmanaged due to unavailability of wound care products can lead to medical issues such as infection, sepsis, need for limb amputation, and even death.
India advanced wound care management market is estimated to be valued at US$ 227.2 million in 2020 and is expected to exhibit a CAGR of 5.5% during the forecast period (2020-2027).
Figure 1. India Advanced Wound Care Management Market Share (%) Analysis, By Product Type, 2020
Product launches and 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 launch of innovative products for 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 diabetic patients undergoing surgical procedures for chronic or acute injuries. Researchers reported that new-age technology, which has shown promising results on small animals, such as rats, might prove to be beneficial for millions of diabetic patients and can aid medical professionals in offering better treatment to the patients. The procedure is undergoing clinical trials.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2020 | Market Size in 2020: | US$ 227.2 Mn |
| Historical Data for: | 2017 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 5.5% | 2027 Value Projection: | US$ 330.8 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Smith & Nephew Plc, Coloplast A/S, Johnson & Johnson, 3M, Convatec Group Plc, Cologenesis Healthcare Pvt Ltd, Mil Laboratories Pvt. Ltd, Essity AB, and Eucare Pharmaceuticals (P) Ltd. |
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| Restraints & Challenges: |
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India Advanced Wound Care Management Market- Restraints
However, 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 around 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 titled ‘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 region accounted for the largest market share in the India advanced wound care management market in 2019, owing to strong presence of manufacturing facilities and local players in the region. For instance, Elkem South Asia Pvt Ltd. (A Bluestar company) has a manufacturing facility in Mumbai, and Axio Biosolutions, a developer of axiostat chitosan hemostatic dressing, has a manufacturing facility in Gujarat.
Furthermore, the 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 are Smith & Nephew Plc, Coloplast A/S, Johnson & Johnson, 3M, Convatec Group Plc, Cologenesis Healthcare Pvt Ltd, Mil Laboratories Pvt. Ltd, Essity AB, and Eucare Pharmaceuticals (P) Ltd.
Advanced wound care products are used by healthcare practitioners. It is a therapeutic approach to ensure effective wound healing. Advanced wound care management treatment uses moisture therapy, which provides moist microenvironment that stimulates natural healing process. The products used in moist wound care include film and foam dressings, hydrogels, alginates, and hydrocolloids. This therapy besides maintaining hydrated environment, also keeps the temperature consistent, allows flow of oxygen, removes dead tissue, protects the site from exogenous infection, and eases the pain associated with dressing changes.
Market Dynamics
Research and development activities are expected to drive growth of the India advanced wound care management market due to the increasing demand for advanced wound care products for treatment of various types of wounds. For instance, in August, 3M India’s R&D center showcased its portfolio of healthcare products at ‘Tech Connect’. The following products were showcased: 3M Tegaderm, 3M ultra rapid multi-enzyme cleaner formulation, 3M Ioban antimicrobial incise drapes, and 3M compression tape.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 29 market data tables and 45 figures on "India Advanced Wound Care Management Market” - Forecast to 2027”
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