India Wound Care Management Market Outlook
The India Wound Care Management Market size was valued at USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031 expanding at a CAGR of 6.2% during 2023 – 2031. The growth of market is attributed to rising incidences of chronic wounds, ulcers, and diabetic ulcers.
The majority of wound treatment products are used to treat complicated wounds. Injuries and wounds are prevalent ailments that impact billions of individuals across the world.
The products are very resistant to environmental inhibitors and foreign particles and are utilized by nurse under the supervision and directions of a physician. As a result, the need for improved wound care solutions is being driven by increased risk factors and the need for cost-effective treatments.
COVID-19 quickly grew into a pandemic, wreaking havoc on health-care systems, especially the treatment of injured victims. The delivery of wound care, which should be regarded a significant medical service, has altered as a result of the necessity. Rather than eliminating wound healing, the main goals of wound care were to minimize serious wound complications and, when feasible, reduce hospitalization & surgery.
According to a paper published in the British Journal of Surgery in 2020, the number of procedures cancelled in India owing to the Covid-19 pandemic is predicted to be 48,728 each week, or around 585,000 during a 12-week period. Elective operations such as bariatric (for excessive obesity) and metabolic (for type-2 diabetes) are among them. As a result, these procedures have yet to be conducted, and the breakout of Covid-19, is expected to boost the market.
Market Trends, Drivers, Restraints, and Opportunities
- Product improvements and an increase in the number of surgical procedures is projected to drive the market.
- The number of diabetic individuals who are more prone to ulcers is increasing, which is estimated to fuel the market.
- With the growing elderly population, the number of diabetes patients is predicted to rise, which is expected to propel the market.
- Inadequate knowledge of advanced wound care, is projected to hamper the market.
- High cost of the treatment is anticipated to hinder the market growth.
Scope of India Wound Care Management Market Report
The report on the India wound care management market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Wound Care Management Market - India Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product (Wound Care {Dressings, Bandages, Others}, Wound Closure, and Wound Type {Chronic Wound and Acute Wound})
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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3M Company.; B. Braun Melsungen AG.; Medtronic PLC.; Smith & Nephew.; Coloplast A/S
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India Wound Care Management Market Segment Insights
The dressing segment is expected to grow at a rapid pace
Based on products, the India wound care management market is divided into wound care, wound closure and wound type. The wound care segment is further divided into dressings, bandages, and others. The wound type segment is sub-divided into chronic and acute wound. The dressing segment is expected to grow at a rapid pace during the forecast period owning to wound dressings are an important aspect of diabetic foot ulcer treatment.
For wound examination, all dressings need to be changed often. To prevent maceration of the surrounding skin, ulcers that exude a lot of fluid, such as diabetic foot ulcers, must be changed often.
The growing incidence of diabetes in India is closely related to the prevalence of diabetic foot ulcers. In the lifespan of a diabetic patient, the chances of developing a diabetic ulcer are quite high.
According to the department of health and family welfare's 2019 national diabetes and diabetic retinopathy survey, the prevalence of diabetes in adults over the age of 50 is 11.8 %. Furthermore, statistics imply that the prevalence of diabetes in India has increased in recent decades. As a result, the frequency of diabetic foot ulcers is rising in tandem with the growing diabetes population.
Segments
The India wound care management market has been segmented on the basis of
Products
- Wound Care
- Dressings
- Bandages
- Others
- Wound Closure
- Wound Type
- Chronic Wound
- Acute Wound
Key Players
Competitive Landscape
Key players competing in the India wound care management market include 3M Company.; B. Braun Melsungen AG.; Medtronic PLC.; Smith & Nephew.; Coloplast A/S. Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years. For instance
- Axio Biosolutions of Karnataka, India, gained CE certification for its next-generation wound-care product MaxioCel in February 2021.
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