INDIA ADVANCED WOUND CARE MANAGEMENT MARKET ANALYSIS

India Advanced Wound Care Management Market is estimated to be valued at US$ 263.0 million in 2023 and is expected to exhibit a CAGR of 5.1% during the forecast period (2023-2030).

Analysts’ Views on India Advanced Wound Care Management Market:

Wound management is the continued care of a wound by creating a favorable environment for healing through both direct and indirect approaches, as well as by preventing the deterioration of the skin. Healthcare professionals employ advanced wound care products. It is a therapeutic strategy to guarantee successful wound healing. Advanced wound care products promote the natural healing process without blocking the wound and include the use of foam dressings, alginates, hydrogels and hydrocolloids. These products ensure favorable wound healing, optimal oxygen flow, uniform temperature and protection from the external environment

Figure 1. India Advanced Wound Care Management Market Share (%), by Product Type, 2023

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India Advanced Wound Care Management Market– Driver

Increasing product approvals

Product launches create a great impact on India advanced wound care management market but development in launched products create a greater impact on India Advanced Wound Care Management Market. For instance, on December 13, 2022, MediWound Ltd., a biopharmaceutical company, announced the market approval for NexoBrid in India. NexoBrid is a biological substance applied topically that, after four hours of treatment, enzymatically eliminates nonviable burn tissue, or eschar, from patients with deep partial and full-thickness thermal burns without hurting viable tissue.

Figure 2. India Advanced Wound Care Management Market (US$ million), by Region, 2023

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India Advanced Wound Care Management Market- Regional Analysis

The North India region is expected to dominate India Advanced Wound Care Management Market due to increased agreements. For instance, on December 13, 2022, Mediwound, a biopharmaceutical company, announced an agreement with Bharat Serums And Vacccines Limited, a development of blood components and therapeutic antibody products for infectious and non-infectious diseases company for distribution of NexoBrid (a topically administered biological product) in India for the treatment of severe burns. Bharat Serums and vacccines limited is expected to begin commercializing NexoBrid in India.

India Advanced Wound Care Management Market– Impact of Coronavirus (COVID-19) Pandemic

During COVID, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization report, the manifestation of coronavirus (COVID-19) has resulted in more than 765 million confirmed cases and over 6.9 million deaths globally as of May 31, 2023.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, are facing problems with the transportation of drugs from one place to another.

Moreover, various healthcare regulatory authorities have issued guidelines for patients who require critical care during the COVID-19 pandemic.

India Advanced Wound Care Management Market Segmentation:

India advanced wound care management market is segmented into product type, wound type, and end user.

Based on product type, India advanced wound care management market is segmented into Wound Dressing, Wound Therapy Device, and Active Wound Care. Out of which, wound dressing is expected to dominate the market over the forecast period due to improved function, pain relief, and advanced quality of life.

Based on wound type, India advanced wound care management market is segmented into Surgical Wounds, Ulcers, Traumatic Wound, Burns, and Others. Out of which, surgical wound is expected to dominate the market over the forecast period due to by various applications and technologies.

Based on End user, India advanced wound care management market is segmented into Hospitals, clinics, Ambulatory surgical centers, home care settings, and others. Out of which, hospitals segment dominates the market owing to the increasing number of hospitals and demand for advanced treatments and surgeries.

Among all the segments, product type is dominating over the market. For instance, on September 6, 2021, Human Bioscience, a healthcare company, announced to launch wound care products in India. The product named Medifil is intended for the management of burns, sores, blisters, scrapes, ulcers, and other wounds.

India Advanced Wound Care Management Market: Key Developments

On September 6, 2021, Human Bioscience, a healthcare company announced to launch wound care products in India. The product named Skin Temp is intended for the management of burns, sores, blisters, scrapes, ulcers, and other wounds. Skin Temp, is in a sheet. The dressings are collagen membranes with pores that are intended to be porous, breathable, and have fluid regulation akin to skin. They are supple, elastic, flexible, strong, and has simple application.

On May 11, 2023, National Chemical Laboratory, Pune, approved the technology for producing bacterial nanocellulose for wound care and cosmetics application to RapidCure Healthcare Pvt. Ltd. The Nanocellulose produced has very high purity levels and unique micromorphology enabling it to use for various commercially important application.

India Advanced Wound Care Management Market- Cross sectional analysis

As product base segment, wound dressing dominates from the product type segment. For instance, an article published by the Ministry Of Science and Technology on August 6, 2021, explained advanced wound dressing material based on seaweed agar can treat diabetic wounds and manage chronic diseases at a competitive cost. A dressing made of agarose, a natural polymer formed from seaweed agar, is used to treat diabetes patients with infected wounds and those with chronic wounds. This indigenous dressing will make it possible for patients with persistent wounds to have affordable bandages, and it will also open the door to business incubation.

India Advanced Wound Care Management Market- Key Trends

The key market players are engaged in adopting inorganic strategies such as development in wound care management. For instance, the All India Institute Of Medical Sciences announced an annual conference on November 7, 2022, for navigating the currents in wound care management. The basics of wound care, wound infection, management of complicated wounds, wound dressing, and others were explained by creating awareness about wound care management.

India Advanced Wound Care Management Market: Restraint

Complications associated with wound care

Increasing prevalence of diabetes in India is a major reason for complications such as diabetic foot ulcers. For instance, on January 31, 2021, Tamil Nadu Medical University published a study about the prevalence of diabetic foot complications among diabetes patients in southern India states the incidence of foot ulcers in people with diabetes differs front 8% to 17 % often diabetes foot ulcers get infected due to poor knowledge of foot care practices which creates the risk factors ( foot ulcers ) for diabetic foot problems.

India Advanced Wound Care Management Market- Key Players

Major Key players operating in the India advanced wound care management market include 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.

Definition

Wound is an injury to living tissue caused by a cut, blow, or other impacts, typically one in which the skin is cut or broken. Traditional wound care and advanced wound care products are two categories of wound care management items. Around the world, traditional wound treatment is more common. In this approach, medical professionals use bandage rolls, dressings, and medical tapes to cover the wound, shield it from the environment, and stop bleeding and infections. Advanced wound care solutions employ foam dressings, alginates, hydrogels, and hydrocolloids to promote natural healing without obstructing the wound.