Wound Care - G7 | Statista Market Forecast

Wound Care - G7

Highlights

Revenue in the Wound Care market amounts to US$1.96bn in 2024. The market is expected to grow annually by 0.36% (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$2.52 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Wound Care market in G7 countries is experiencing significant growth due to several factors. Customer preferences for advanced wound care products and the increasing prevalence of chronic diseases are driving the demand for wound care solutions.

Additionally, local special circumstances and underlying macroeconomic factors are contributing to the development of the market. Customer preferences in the G7 countries are shifting towards advanced wound care products. These products offer improved healing outcomes and reduce the risk of infection compared to traditional wound care methods.

Customers are increasingly opting for products such as advanced dressings, wound closure devices, and negative pressure wound therapy systems. The demand for these products is driven by the desire for faster healing, reduced pain, and improved quality of life. The increasing prevalence of chronic diseases is another key factor driving the growth of the Wound Care market in G7 countries.

Chronic diseases such as diabetes, obesity, and cardiovascular diseases are associated with a higher risk of developing chronic wounds. As the incidence of these diseases continues to rise, the demand for wound care solutions is expected to increase. Moreover, the aging population in G7 countries is also contributing to the growth of the market, as older individuals are more prone to chronic wounds.

Trends in the market vary across G7 countries. In the United States, for example, there is a growing trend towards home healthcare and self-management of wounds. This has led to an increased demand for portable wound care devices and telemedicine services.

In Japan, on the other hand, there is a focus on developing innovative wound care products using advanced technologies such as regenerative medicine and nanotechnology. Local special circumstances also play a role in the development of the Wound Care market in G7 countries. For instance, in Germany, the presence of a strong healthcare infrastructure and reimbursement policies for wound care products contribute to the growth of the market.

In France, the government's focus on reducing healthcare costs and improving patient outcomes is driving the adoption of cost-effective wound care solutions. Underlying macroeconomic factors such as GDP growth, healthcare expenditure, and government policies also influence the development of the market. Countries with higher GDP growth and healthcare expenditure are more likely to invest in advanced wound care solutions.

Additionally, government policies that promote the adoption of innovative wound care products and provide reimbursement support contribute to market growth. Overall, the Wound Care market in G7 countries is experiencing growth due to customer preferences for advanced wound care products, the increasing prevalence of chronic diseases, local special circumstances, and underlying macroeconomic factors. The market is expected to continue growing as technological advancements and healthcare reforms further drive the demand for wound care solutions.

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.