India Wound Care Market Assessment, By Product [Advanced Wound Dressings, Surgical Wound Care, Traditional Wound Care, Wound Therapy Devices], By Applications [Chronic Wounds, Acute Wounds], By End-user [Hospitals, Outpatient Facilities, Home care, Resear

India Wound Care Market Assessment, By Product [Advanced Wound Dressings, Surgical Wound Care, Traditional Wound Care, Wound Therapy Devices], By Applications [Chronic Wounds, Acute Wounds], By End-user [Hospitals, Outpatient Facilities, Home care, Research and Manufacturing], By Mode of Purchase [Prescribed, Non-Prescribed], By Distribution Channel [Institutional Sales, Retail Sales], By Region, Opportunities and Forecast, FY2017-FY2031F

India wound care market size was valued at USD 1.81 billion in FY2023, and is expected to reach USD 2.75 billion in FY2031, with a CAGR of 5.39% for the forecast period between FY2024 and FY2031. Anticipated factors contributing to the growth of India's wound care market include the rising occurrences of chronic wounds, ulcers, and diabetic ulcers, growing prevalence of diabetes, particularly as a leading cause of diabetic foot ulcers in India, and the introduction of advanced technological products. The wound care market in India has witnessed significant growth and transformation in recent years, reflecting the country's expanding healthcare infrastructure and increasing awareness of wound management.

The market encompasses a wide range of products and services aimed at treating wounds, injuries, and surgical procedures. Technological advancements in wound care products, including dressings, grafts, and negative pressure wound therapy systems, have improved treatment outcomes and patient comfort. These innovations have garnered a significant share of the market. The Indian government is taking steps to improve wound care services in the country.

Increasing Prevalence of Diabetes and Injuries

The Indian population is contributing to an increase in the number of diabetic patients, as India is now considered as the “Diabetes Capital of the World.” It can have a significant effect because diabetic patients have slower healing processes. More than 100 million people in India are living with diabetes and 136 million with pre-diabetes. As a result, the increasing number of diabetes patients, who are more susceptible to developing ulcers, are expected to drive market growth. According to data from Ministry of Road Transport and Highways in 2022, more than 460,000 road accidents took place in India, which led to 168,491 deaths and 443,366 injuries.

Introduction of Advanced Technologies

The Indian wound care market has witnessed a significant transformation with the introduction of advanced technological equipment. Innovations in wound management, such as smart dressings, antimicrobial gels, and telemedicine solutions, have revolutionized patient care. These innovative products have enhanced treatment efficacy and improved patient outcomes by facilitating remote monitoring and personalized care. The convergence of technology and healthcare in the wound care sector is rapidly shaping the landscape, offering more efficient and cost-effective solutions for addressing various types of wounds, from chronic ulcers to post-surgical incisions, ultimately benefiting both patients and healthcare providers in India. On May 11, 2023, the National Chemical Laboratory in Pune approved the technology of manufacturing bacterial nanocellulose for wound care and cosmetic applications to RapidCure Healthcare Pvt. Ltd. The nanocellulose produced exhibit exceptional purity levels and distinctive micromorphology, making it suitable for a range of commercially significant application.

On December 13, 2022, MediWound Ltd., a biopharmaceutical company, revealed the market approval for NexoBrid in India. NexoBrid, a biologically applied substance, is designed for topical use and, after four hours of treatment it enzymatically removes nonviable burn tissue from patients with deep partial and full-thickness thermal burns without causing harm to viable tissue.

Strategic Collaborations Among Leading Industry Players

In India wound care market, strategic collaborations among industry leaders are driving innovation and expanding access to advanced healthcare solutions. For instance, Mediwound, a biopharmaceutical firm, revealed on December 13, 2022, its partnership with Bharat Serums and Vaccines Limited, which specializes in developing blood components and therapeutic antibody products for infectious and non-infectious ailments. The collaboration pertains to the distribution of NexoBrid, a topically administered biological product in India to manage severe burns. Bharat Serums and Vaccines Limited is anticipated to commence the commercialization of NexoBrid in the Indian market. These collaborations are enhancing research and development efforts, enabling the introduction of more effective wound management products, and ultimately improving patient outcomes. The synergy between healthcare institutions and wound care product manufacturers is driving progress in this critical sector is addressing the growing healthcare needs of India's population.

Increasing Product Launches

While product launches make a significant impression on the India wound care market, the advancements and improvements of these products carry an even more substantial influence. For instance, in September 2021, a U.S. headquartered company, Human Bioscience, launched two products, namely ""Skin Temp"" and ""Medifil,"" in the Indian market. In July 2023, Smith & Nephew introduced the REGENTEN Bio-inductive implant in the Indian market. The implant is specifically engineered to aid in wound care by promoting the body's natural healing processes and encouraging the development of tendon tissue. In February 2021, Axio Biosolutions, based in Karnataka, India, obtained CE Certification for their advanced wound-care product, MaxioCel.

Impact of COVID-19

The spread of COVID-19 pandemic led to a significant disruption in healthcare services, including the treatment of patients with wounds. In response to urgent needs, there was a shift in the approach to wound care, which is typically considered a vital medical service. During this period, the primary goals of wound care shifted from primarily focusing on complete wound healing, which involves the use of antibiotics, appropriate dressings, and proper management that necessitates regular hospital visits, to a more proactive approach aimed at preventing severe wound complications, reducing the need for hospitalization and surgery when possible.

Key Players Landscape and Outlook

India's status as a developing nation is capable of manufacturing wound care devices, it has led to a rising need for wound care devices, subsequently contributing to the expansion of the wound care market. As a result, the market has become increasingly attractive, enticing global players to establish their presence in India.

On July 2023, Smith & Nephew introduced the REGENTEN Bio-inductive implant to the Indian market. This implant is specifically engineered to aid in wound care by promoting the body's natural healing processes and encouraging the development of tendon tissue.