Due to the introduction of cutting-edge products for wound care management in India, the advanced wound care management market in India is anticipated to have considerable growth over the forecast period. For instance, a next-generation wound care dressing constructed of chitosan called MaxioCel was introduced in New Delhi, India, in February 2019 by Axio Biosolutions, an Indian medtech business. The advanced wound treatment market in India is anticipated to grow more quickly than average over the course of the forecast period due to the fact that numerous academic and research institutions are involved in R&D efforts. For instance, the Indian Institute of Technology (IIT), Ropar's biomedical engineering division, in partnership with the Ohio State University in the United States, developed a potential targeted therapeutic procedure that could help people with diabetes undergoing surgery for chronic or acute injuries. Researchers found that cutting-edge technology, which has demonstrated promising outcomes in tiny animals like rats, may prove to be helpful for millions of diabetic patients and can help medical professionals treat the patients more effectively.
Coherent Market Insights estimates that According to estimates, the Advanced Wound Care Treatment Market in India would be worth US$ 227.2 million in 2020 and grow at a CAGR of 5.5% from 2020 to 2027.
Prominent Companies in the India Advanced Wound Care Management Industry:
1. Smith & Nephew Plc
The company was started in 1856 and is based in London, United Kingdom. Advanced medical gadgets are created and sold by Smith & Nephew plc. Endoscopy, advanced wound treatment, and orthopaedics are all areas of expertise for the Group. Smith & Nephew paid $135 million in January 2022 to purchase Engage Surgical, a Florida-based provider of partial knee implants. For $240 million, the company purchased Integra LifeSciences' extremities orthopaedics division in January 2021.
2. Coloplast A/S
The firm was started in 1957 and is located in Humlebaek, Denmark. Coloplast creates products and services for persons with intimate healthcare requirements, including ostomy, continence, urology, wound, and skin care. Coloplast declared in November 2021 that it will pay 2.16 billion euros ($2.49 billion) to purchase Atos Medical and its laryngectomy technology.
3. Johnson & Johnson
The firm was founded in 1886 and is based in New Brunswick, New Jersey, United States. Johnson & Johnson produces medical supplies and offers related services to the consumer, pharmaceutical, medical device, and diagnostics industries. In addition to selling medications, surgical equipment, diagnostic tools, and paracetamol products internationally, the company also provides skin and hair care items.
4. 3M
The company was founded in the United States in 1902, with its headquarters in Saint Paul, Minnesota. The business operates in the industries of manufacturing, consumer goods, healthcare, and employee safety. Neogen, a manufacturer of goods for animal healthcare and food testing, was included in 3M's processes for food safety, according to an announcement made in December 2021.
5. Convatec Group Plc
The company was started in 1978 and is located in Berkshire, England, UK. The company sells infusion tools, dressings, wound systems that use negative pressure, adhesive removers, and urine metres. ConvaFoamTM, a collection of cutting-edge foam dressings created to meet the demands of healthcare professionals and their patients, will be available in the US starting in January 2023.
6. Mil Laboratories Pvt. Ltd
The company was founded in 2005 and is based in Mumbai, Maharashtra. The business creates, produces, and markets moral products for the wellbeing of a healthy environment and way of life. To ensure that everyone can achieve health and quality of life, Mil Laboratories works hard.
7. Essity AB
The company was started in 2017 and is based in Stockholm, Sweden. The business creates, manufactures, and markets personal care products. The company sells items including napkins, hand towels, wet wipes, handkerchiefs, hand sanitizers, toilet paper, and hand towels.
Definition: Traditional and advanced wound care products are the two categories under which wound care management products fall. Where medical professionals employ wound care products, traditional wound management is more common.
