Advanced wound therapyApril 9, 2019
The state of Indian pharma Industry is wider and larger in all aspects compared to Indonesian pharma industry. India has its own technologies and expertise which is being widely acknowledged in SE Asia. The wound care market in India has seen a huge upsurge in recent years due to growing incidences of untreated chronic, acute, cancer radiotherapy and burn wounds coupled with the largely ineffective traditional methods of treating them. Rising prevalence of diabetes and cancer, attempts to lower the duration of hospital stay in order to reduce the healthcare expenses and the growing inclination towards products that enhance therapeutic outcomes are also driving the demand for advanced wound care products. Traditional methods of wound treatment are still being mostly followed and now India is covering the wound care market in higher growth rate.
Advanced wound care products are designed to cure and treat complex wounds, such as diabetic foot ulcers, venous ulcers, and pressure ulcers. Advanced wound management is based on the principle of moisture therapy. In advanced wound management, moisture is provided to the wound site to allow cells to heal and repair naturally. The rising incidence of hard-to-heal wounds and their growing adoption (due to their high efficacy) are driving the growth of this product segment.
Growing prevalence of diabetes
Rapid growth in the geriatric population
Developments and innovations in wound care products
Increasing funding for wound care research
Awareness programs for wound care treatment and management
High cost of advanced wound care products
Risk associated with wound care products
Increasing research in the field of advanced wound care
Potential application of stem cell therapy in wound care
Growing popularity of active wound care products
Increasing number of acquisitions
Survival of new entrants and small players
Developments and innovations in wound care products drives the global wound care market
The development of new products is another major factor driving the growth of the wound care market. The continuous development of new products provides end users with advanced options for wound treatment (especially in the case of hard-to-heal wounds).
Wound care product manufacturers
Wound care associations
Research and consulting firms
Distributors of wound care devices
Contract manufacturers of wound care products
Healthcare institutes (hospitals, medical schools, diagnostic centres, and outpatient clinics)
Insurance providers (payers)
By wound type, the market is classified into chronic wounds and
acute wounds. The chronic wounds segment is estimated to account for
the largest share of the global wound care market. The large share of this segment can be attributed to the rising incidence of diabetic foot ulcers, pressure ulcers, and other types of chronic wounds.