INR Billion
August 2017 India Wound Care Market Outlook to 2022
WHAT ARE THE GROWTH PROSPECTS OF THE WOUND CARE MARKET IN INDIA ?
India wound care market has been mainly driven by technological advances , increasing aging population , problems associated with ineffective traditional wound healing methods and growing incidences of chronic and acute wounds . Rising prevalence of diabetes , 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 the advanced wound care products . Rise in incidence and prevalence of acute and chronic wounds : Both chronic and acute wounds cases have inclined by 3-4 % annually in the last five years . The prevalence rate of chronic wounds in India stood at 4.5 per 1,000 population and incidence rate of acute wounds was more than double at 10.5 per 1,000 population , as of FY ’ 2016 . Incidence and prevalence of both acute and chronic wounds are likely to incline in the near future by 4-5 % annually . Furthermore , the number of lymphoedema cases due to Filariasis is also expected to incline from 23 million cases to 25 million cases each year by 2020 . Surging surgeries : The number of surgical births in the country has risen at an unprecedented rate of 16.7 % annually in the last five years . India is set to witness further rise in caesarean surgeries going forward . Furthermore , the number of plastic surgeries including breast augmentation , face lifts , brow lifts , eye lifts and liposuction is expected to rise significantly in the mid-long term .
Osteoarthritis is the most prevalent form of arthritis in India which affects over 15 million adults every year . The current treatment solution is surgery involving a transplant and only 10 % of the Indians undergo the surgery due to fear of late recovery . India is expected to be the osteoarthritis capital of the world by 2025 with over 60 million cases . The current rate of 10 % patients undergoing joint replacement surgeries is expected to incline in the near future owing to rising per capita income and increasing disease burden . India has fast become a global health destination , with the medical tourism industry growing at 30 % every year . Over 26 million surgeries were performed in the country in 2016 and reportedly the country ’ s need for surgeries stood at around 65 million . Hence , with increase in number of hospital and specialized doctors , the number of surgeries performed in the country is going to incline at a steady pace . All these factors would result in positive growth of the market at a CAGR of ~% during the period FY ’ 2017-FY ’ 2022 . Figure : India Wound Care Market Future Outlook on the Basis of Revenue in INR Billion , FY ’ 2018-FY ’ 2022 20,000.00
15,000.00
10,000.00
5,000.00
0.00 FY ' 18 FY ' 19 FY ' 20 FY ' 21 FY ' 22
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