by The India advanced wound care management market is driven by the rising prevalence of chronic wounds, increasing incidence of burns, trauma cases and diabetic foot ulcers. Advanced wound care products aid in healing wounds faster by creating an optimal environment that promotes healing and prevents infections. Products involved include films and foams dressings, hydrocolloid dressings, alginate dressings, hydrogel dressings and contact layers among others. Advanced wound care management is estimated to gain more significance over traditional options owing to its ability to accelerate healing and offer pain relief.
India advanced wound care management market is estimated to be valued at US$ 206.5 Mn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the India advanced wound care management are Toshiba Corporation, Carestream Health, General Electric Company, Hitachi Ltd., Siemens Healthcare Private Limited, Koninklijke Philips N.V., Shimadzu Corporation, MinXray Inc., KA Imaging, Samsung Group, OXOS Medical, InnoCare Optoelectronics, Siemens Healthineers, Shimadzu Medical Systems USA, Konica Minolta Healthcare Americas Inc., Canon Inc., Boston Imaging, Nanox, Fujifilm, Scanna-MSC, VUNO, and Canon Medical Systems USA Inc. The market witnesses high demand for advanced wound dressings across the country. Technological advancements in medical imaging such as medical digital radiography are poised to drive the adoption of advanced wound management further.
Market Drivers
The rapid rise in chronic diseases such as diabetes is a key factor driving the need for advanced wound care products in India. India Advanced Wound Care Management Market Size It is estimated that over 77 million individuals suffer from diabetes in India currently. Diabetic foot ulcers are a major complication arising from diabetes that require advanced wound management for effective healing. Furthermore, growing healthcare expenditure, rising medical tourism and increasing awareness about available treatment options are some other factors expected to propel the growth of the advanced wound care management market in India over the coming years.
Current Challenges in the India Advanced Wound Care Management Market:
With the rising prevalence of chronic diseases like diabetes that results in complex wounds requiring advanced treatment, the market is witnessing high demand. However, lack of awareness regarding available advanced treatment options and their benefits and the relatively high cost of these products are some of the key challenges currently inhibiting the market’s growth. A significant section of the population still relies on traditional wound care options due to the more affordable costs. Additionally, lack of proper reimbursement policies makes these advanced treatments inaccessible for many patients.
SWOT Analysis
Strength: Growing prevalence of diabetes and associated wound complications resulting in increased demand. Wide availability of effective wound management products.
Weakness: High cost of advanced wound care products limiting widespread adoption. Lack of awareness about available treatment options.
Opportunity: Increasing healthcare expenditure and focus on expanding health insurance can boost the market. Rising medical tourism also opens growth prospects.
Threats: Strong competition from conventional treatment options. Unorganized sector selling low-cost alternatives.
Geographical Regions with High Market Concentration:
The northern region, consisting of states like Punjab, Haryana, Delhi, etc., account for the largest share of the India advanced wound care management market currently, both in terms of value and volume. This is due to higher disposable incomes and healthcare expenditure in this region facilitating greater adoption of advanced products. West and South regions also have a sizable demand concentration.
Fastest Growing Region:
The eastern region, comprising states such as West Bengal, Bihar, Jharkhand, etc., is expected to register the fastest growth over the coming years. Significant government efforts to strengthen healthcare infrastructure and boost insurance penetration in this region will aid wider availability and uptake of advanced wound management options. Growing medical tourism is another factor that will support the market expansion in eastern India.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
