Wound Care - BRICS

BRICS

Highlights

Revenue in the Wound Care market amounts to US$411.60m in 2024. The market is expected to grow annually by 0.37% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$1bn in 2024).
In relation to total population figures, per person revenues of US$0.12 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Wound Care market in BRICS is experiencing significant growth and development due to several key factors.

Customer preferences: In the BRICS countries, there is a growing demand for advanced wound care products and treatments. Customers are increasingly seeking out innovative solutions that can effectively and efficiently heal wounds, reduce pain, and minimize scarring. This shift in customer preferences is driving the market towards the development of new and improved wound care products.

Trends in the market: One of the major trends in the BRICS wound care market is the increasing adoption of advanced wound dressings. These dressings are designed to provide a moist wound healing environment, which promotes faster healing and reduces the risk of infection. The demand for advanced wound dressings is being driven by the rising incidence of chronic wounds, such as diabetic foot ulcers and pressure ulcers, in the BRICS countries. Another trend in the market is the growing popularity of wound care products with antimicrobial properties. As the prevalence of antibiotic-resistant bacteria continues to rise, there is a greater need for wound care products that can effectively kill or inhibit the growth of these bacteria. Antimicrobial wound care products, such as silver dressings and antimicrobial gels, are becoming increasingly sought after by customers in the BRICS countries.

Local special circumstances: Each BRICS country has its own unique set of circumstances that are influencing the development of the wound care market. For example, in Brazil, there is a high prevalence of chronic wounds, particularly among the elderly population. This has led to a greater demand for wound care products and treatments that can effectively manage chronic wounds and prevent complications. In Russia, there is a growing focus on the development of telemedicine and telehealth solutions for wound care. This is driven by the vast geographic size of the country and the need to provide access to quality wound care services in remote areas. Telemedicine allows healthcare professionals to remotely monitor and manage wounds, reducing the need for patients to travel long distances for wound care.

Underlying macroeconomic factors: The growth and development of the wound care market in the BRICS countries are also influenced by underlying macroeconomic factors. For example, the rising middle class in these countries has led to an increase in healthcare spending, including spending on wound care products and treatments. Additionally, improvements in healthcare infrastructure and access to healthcare services are driving the demand for wound care products. In conclusion, the Wound Care market in BRICS is experiencing growth and development due to customer preferences for advanced wound care products, the adoption of advanced wound dressings, the popularity of antimicrobial wound care products, local special circumstances in each country, and underlying macroeconomic factors such as rising healthcare spending and improvements in healthcare infrastructure. This market is expected to continue to expand as the demand for effective wound care solutions increases in the BRICS countries.

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.