Wound Care - G20 | Statista Market Forecast

Wound Care - G20

G20

Highlights

Revenue in the Wound Care market amounts to US$3.00bn 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$0.60 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Wound Care market in G20 is experiencing significant growth and development due to several key factors. Customer preferences for advanced wound care products, increasing prevalence of chronic wounds, and the growing aging population are driving the demand for wound care products and services in G20 countries.

Additionally, local special circumstances and underlying macroeconomic factors contribute to the overall growth and development of the market. Customer preferences in the wound care market in G20 are shifting towards advanced wound care products that offer better healing outcomes and improved patient comfort. This includes products such as wound dressings, negative pressure wound therapy devices, and bioactive wound care products.

Customers are increasingly seeking products that promote faster healing, reduce the risk of infection, and minimize scarring. As a result, manufacturers are focusing on developing innovative wound care solutions to meet these evolving customer preferences. Trends in the market indicate a rising prevalence of chronic wounds in G20 countries.

Factors such as diabetes, obesity, and an aging population contribute to the increased incidence of chronic wounds, including diabetic foot ulcers, pressure ulcers, and venous leg ulcers. This trend drives the demand for wound care products and services, as healthcare providers strive to manage and treat these chronic wounds effectively. In response, manufacturers are developing specialized wound care products tailored to the needs of patients with chronic wounds.

Local special circumstances play a significant role in the development of the wound care market in G20 countries. Each country has its own healthcare system, reimbursement policies, and regulatory framework, which can impact the adoption and availability of wound care products. For example, some countries may have a higher prevalence of certain types of wounds, leading to a greater demand for specific wound care products.

Additionally, cultural factors and healthcare practices can influence the use of traditional or alternative wound care treatments in certain regions. Underlying macroeconomic factors also contribute to the growth and development of the wound care market in G20 countries. Economic growth, increasing healthcare expenditure, and improvements in healthcare infrastructure drive the demand for wound care products and services.

As countries invest in their healthcare systems and focus on improving patient outcomes, the demand for advanced wound care solutions is expected to rise. Furthermore, the aging population in G20 countries is a significant driver of the wound care market, as older individuals are more susceptible to chronic wounds and require specialized wound care. In conclusion, the Wound Care market in G20 is experiencing growth and development due to customer preferences for advanced wound care products, increasing prevalence of chronic wounds, and the growing aging population.

Local special circumstances and underlying macroeconomic factors also contribute to the overall growth and development of the market. As the demand for wound care products and services continues to rise, manufacturers are focusing on developing innovative solutions to meet the evolving needs of customers in G20 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.