Galaxy Medicare Ltd IPO

About Galaxy Medicare Ltd

Our Company was originally incorporated as Galaxy Medicare Ltd on July 23, 1992 at Bhubaneswar, Orissa as a Limited Company under the Companies Act, 1956 with the Registrar of Companies, Cuttack, Odisha bearing Registration Number 003113 of 1992. The Corporate Identification Number of our Company is U24232OR1992PLC003113.

The global plaster bandages market size was USD 8.8 Billion in 2023 and is projected to reach USD 14.9 Billion by 2032, expanding at a CAGR of 5.60% during 2024-2032. The market growth is attributed to the growing demand for effective healing solutions. Increasing demand for effective wound care solutions is underscoring the importance of plaster bandages. These medical products, which provide support and protection to injured body parts, are a staple in healthcare settings worldwide. Plaster bandages find unique application in the field of prosthetics beyond their traditional role in fracture management, where they are used to create molds for prosthetic limbs, and in the arts, where they serve as a tool for creating sculptures and casts. In 2024, the revenue in the Wound Care market worldwide amounts to US$3.44bn. This market is projected to grow annually by 0.40% (CAGR 2024-2029). Among all countries, the in the United States generates the highest revenue with US$1,052.00m in 2024. In terms of per person revenues, the global average is US$0.44 in 2024. The Indian medical tapes and bandages market was valued at INR 2,296 crore in 2021 which is expected to reach INR 3,362 crore in 2028 at a CAGR of 5.8%. Medical POP Bandage, adhesive tapes and bandages are designed for a variety of healthcare applications. It is used to secure wound care dressing, secure wounds and skin, compression bands, and other healthcare devices. The medical tapes and bandages are an essential part of any medical procedure. The growth of the market is attributed to the rising cases of burning and road accidents. Medical tapes and bandages are widely used for traumatic wound treatment in India, which was valued at INR 996 crore in 2021 and is predicted to reach INR 1,424 crore by 2028 at a CAGR of 5.4%. Traumatic wounds comprise skin tears, lacerations, abrasions, bites, and penetrating trauma wounds. Several wound tapes are available for traumatic wound treatment such as Curi-strip, Nichi-Strip, Steri-Strip, and 3M Steri-Strip. The other segment includes IV site dressings, fractures, and diagnostic use. This segment is expected to grow fastest during the forecast period from Rs. 57 crore in 2021 to Rs. 88 crore by 2028 at a CAGR of 6.6%.

Our Company Galaxy Medicare Limited is into the manufacturing, trading and exporting of Medical Devices, Plasters of Paris Bandages (POP Bandage) and Other surgical dressings in India.

Strengths

Risk

Strategy