Empowering the Nation to Heal with Advanced-care
Canada based Advanced Materials Research & Development Company with proprietary technology platform aimed to launch its wound dressing in a highly competitive & price sensitive market like India
Indiaβwounded down by out-of-date healing practices
Wounds, especially chronic/non-healing wounds are the source of significant burden on health care systems globally apart from being the source of emotional and physical stress for the patient. At one point of time around 1.5% of theΒ population is estimated to be affected by some kind of wound. In India, estimates indicate a prevalence rate of chronic wounds at 4.5 per 1000 population. Chronic wounds can be a result of diabetes, pressure, arterial and venous insufficiency, vasculitis and burns. The incidence of acute wounds was more than double at 10.5 per 1000 population.
Despite the soaring numbers, advanced wound-care in India is the smallest wound-care segment with traditional products like cotton & gauze still ruling the roost; a stark contrast to the developed countries.
Healing with care
SkyQuest realizing this unmet need, worked closelyΒ with one of the Canada based company to introduce their proprietary wound dressing in India. The challenges were loud & clear as India comes with extreme climatic conditions,Β low awareness, poor food & health care practices and poor channelization of Insurance systems.Β SkyQuest recommended that despite challenges they could enjoy the 1stΒ mover advantage in India.
India with soaring diabetic and ageing population,Β absence of a proficient wound healing technology, rising disposable income groups & demand for quality healthcare proved to be a promising market for the technology.
Chalking out the action plan
- Landscape the Indian Wound care space and using this analysis to make a Go-No-Go Decision
- Identify, evaluate & Pre-qualify potential business partners for engagement
- Evaluate the focused market size for the client & identify potential challenges, if any over a long run
- Evaluate the best market entry channels
- The market dynamics and factors influencing the market
- Regulatory filings for registration of the product in India
Winding up to introduce advanced-care
This project will ensure availability of a better healthcare solution to India at an affordable price, also keeping the client contended with the projected revenue. A win-win at both ends.Β We believe advancements in medical research can be leveraged best, once made accessible & affordable enough to reach the different strata of society.
Advanced wound care is now becoming the physician’s choice for the treatment of both acute and chronic wounds.
Wound Careβa global concern
Wound care predominantly affects the working age group 18β60, globally. The worst affected are the developing nations & the key contributing factors include poor health care & awareness, dismal penetration of advanced wound care solutions and reliance on traditional practices. Although, the current standard of care in most of the developing countries (ASEAN) is now shifting to advanced wound healing products.