Wound Care - CIS | Statista Market Forecast

Wound Care - CIS

CIS

Highlights

Revenue in the Wound Care market amounts to US$94.51m in 2024. The market is expected to grow annually by 0.70% (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$0.39 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Wound Care market in CIS is experiencing steady growth due to increasing customer preferences for advanced wound care products, emerging trends in the market, and local special circumstances. Additionally, underlying macroeconomic factors are also contributing to the development of the market.

Customer preferences: Customers in CIS countries are increasingly seeking advanced wound care products that offer better healing outcomes and minimize the risk of infection. This preference is driven by the growing awareness about the importance of proper wound care and the desire for faster healing and reduced scarring. As a result, there is a rising demand for products such as wound dressings, wound closure devices, and wound care devices that incorporate innovative technologies and materials.

Trends in the market: One of the key trends in the Wound Care market in CIS is the shift towards the adoption of evidence-based wound care practices. Healthcare professionals are increasingly relying on clinical evidence to guide their treatment decisions and are using evidence-based wound care products to ensure optimal patient outcomes. This trend is driven by the need to improve the quality of care and reduce healthcare costs. Another trend in the market is the increasing focus on outpatient wound care. With the growing pressure to reduce hospital stays and healthcare costs, healthcare providers are increasingly treating wounds in outpatient settings. This trend has led to the development of wound care products that are suitable for use in home care settings, such as portable negative pressure wound therapy devices and self-adhesive dressings.

Local special circumstances: The Wound Care market in CIS is also influenced by local special circumstances. For example, the region has a high prevalence of chronic wounds, such as diabetic foot ulcers and pressure ulcers, which require specialized wound care products. Additionally, the aging population in CIS countries is also contributing to the demand for wound care products, as older adults are more susceptible to wounds and have slower healing rates.

Underlying macroeconomic factors: The development of the Wound Care market in CIS is also driven by underlying macroeconomic factors. The region has been experiencing economic growth, which has led to an increase in healthcare spending and improved access to healthcare services. This has resulted in a higher demand for wound care products and an expansion of the market. In conclusion, the Wound Care market in CIS is developing due to customer preferences for advanced wound care products, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As the region continues to invest in healthcare infrastructure and improve access to healthcare services, the demand for wound care products is expected to further increase.

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.