Market Insights Health OTC Pharmaceuticals

Wound Care - India

India

In 2024, the revenue in the Wound Care market market in India amounts to INR US$49.01m.
It is projected to witness an annual growth rate of 0.22% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, with a total of US$1,052.00m in 2024.
In terms of per person revenue, in India generates INR US$0.03 per capita in 2024.
India is experiencing a surge in demand for wound care OTC pharmaceuticals due to its large population and increasing awareness of personal health.

Key regions: Europe, United Kingdom, United States, Japan, Canada

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Analyst Opinion

The Wound Care market in India has been experiencing significant growth in recent years.

Customer preferences: Customers in the Wound Care market in India have shown a strong preference for advanced wound care products. This is due to the increasing awareness about the benefits of using these products in wound healing. Customers are also seeking products that are easy to use and provide quick relief from pain and discomfort. In addition, there is a growing demand for wound care products that are cost-effective and provide long-lasting results.

Trends in the market: One of the key trends in the Wound Care market in India is the increasing adoption of advanced wound dressings. These dressings are designed to promote faster healing and prevent infection. They are also more comfortable to wear and can be easily applied and removed. Another trend in the market is the growing popularity of wound closure devices, such as sutures and staples. These devices are used to close wounds and promote healing. They are preferred by customers due to their effectiveness and ease of use.

Local special circumstances: India has a large population, which has led to a high incidence of wounds and injuries. This has created a significant demand for wound care products in the country. In addition, the healthcare infrastructure in India is rapidly improving, which has further contributed to the growth of the Wound Care market. There is also a growing awareness about the importance of wound care among healthcare professionals and patients, which has led to an increased demand for wound care products.

Underlying macroeconomic factors: The growth of the Wound Care market in India can be attributed to several macroeconomic factors. Firstly, the increasing disposable income of the middle-class population has resulted in higher healthcare spending. This has enabled customers to afford advanced wound care products. Secondly, the government's focus on improving healthcare infrastructure and providing affordable healthcare services has also contributed to the growth of the market. Lastly, the rising prevalence of chronic diseases, such as diabetes and obesity, has led to an increase in the number of patients requiring wound care, driving the demand for wound care products.In conclusion, the Wound Care market in India is experiencing significant growth due to customer preferences for advanced wound care products, the adoption of advanced wound dressings and wound closure devices, the high incidence of wounds and injuries in the country, the improving healthcare infrastructure, and the rising prevalence of chronic diseases. These factors are expected to continue driving the growth of the market in the coming years.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.