by Advanced wound care products are designed to manage acute and chronic wounds more efficiently than traditional wound care options. These products such as foam dressings, silver dressings, collagen dressings, alginate dressings, hydrocolloid dressings, and film dressings help in faster healing of wounds and prevent infections. The increasing incidence of chronic diseases including diabetes and rising geriatric population in India are leading to higher prevalence of acute and chronic wounds such as diabetic foot ulcers, pressure ulcers, and venous leg ulcers. This has boosted the demand for advanced wound care products in the country. Additionally, lack of adequate healthcare infrastructure and resources in rural areas has increased the need for cost-effective wound care alternatives like advanced wound care dressings and products.
The global India Advanced Wound Care Management Market is estimated to be valued at US$ 263 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing adoption of single-use NPWT devices: Negative pressure wound therapy (NPWT) has emerged as a breakthrough technology for treating acute and chronic wounds. However, reusable NPWT systems require significant investment and maintenance costs. Moreover, concerns regarding cross-contamination have boosted demand for single-use NPWT devices in India. Manufacturers are focusing on developing affordable single-use NPWT devices specifically for price-sensitive Indian market.
Rising demand for anti-microbial dressings: With increasing prevalence of hospital-acquired and surgical site infections, demand for anti-microbial wound dressing has grown significantly over the past few years. Dressing with infused anti-microbial silver fibers or coating are widely adopted for controlling bacterial growth and preventing infections during wound healing process.
Porter’s Analysis
Threat of new entrants: Low due to high initial investment and technological expertise required in advanced wound care management products.
Bargaining power of buyers: Moderate as buyers have various global and domestic players to choose from.
Bargaining power of suppliers: Moderate as suppliers have established global distribution network and relationships with buyers.
Threat of new substitutes: Low due to specialized products and services required for advanced wound management.
Competitive rivalry: High among existing players like Toshiba Corporation to gain higher market share through product innovation and expansion.
Key Takeaways
The Global India Advanced Wound Care Management Market Demand is expected to witness high growth. The global India Advanced Wound Care Management Market is estimated to be valued at US$ 263 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030.
The India advanced wound care management market is expected to grow at a fastest pace owing to rising geriatric population, increasing incidence of chronic wounds such as diabetic foot ulcers and pressure ulcers. North region holds major market share owing to presence of prominent players and advanced healthcare infrastructure.
Key players related content comprises Key players operating in the India Advanced Wound Care Management Market are Toshiba Corporation. Toshiba Corporation offers comprehensive range of advanced wound care products for treatment and management of acute and chronic wounds.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
