Oneness Biotech Co., Ltd. announced on February 18 that its Bonvadis topical wound cream has been granted approval by the CDSCO in India.

According to the company, Bonvadis has been granted permission to market Bonvadis Topical Wound Cream in India and will apply for an extension of its indications.

Oneness further indicated that according to Invest India, the Indian medical device market is estimated to be around US$11 billion, the fastest growing among emerging markets, with an annual compound growth rate of around 15%, which is 2.5 times the global growth rate, and the market is expected to reach US$50 billion by 2030.

Oneness' Fespixon has already received drug approval from Taiwan and Singapore, while many other countries are still in the process of reviewing or preparing to submit applications.

The company revealed that Bonvadis has already gained market access in the US and India and will continue to apply for entry into countries where appropriate.