Wound Care - Mexico

Mexico

Highlights

Revenue in the Wound Care market amounts to US$10.47m in 2024. The market is expected to grow annually by -0.16% (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$0.08 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Wound Care market in Mexico is experiencing steady growth due to several factors.

Customer preferences: Customers in Mexico are increasingly seeking advanced wound care products to treat various types of wounds. They prefer products that are effective, easy to use, and provide quick healing. There is a growing demand for wound dressings, wound closure devices, and wound care devices that promote faster healing and reduce the risk of infection. Additionally, customers in Mexico are also looking for cost-effective wound care solutions that can be easily accessed and used in both healthcare facilities and home settings.

Trends in the market: One of the key trends in the Wound Care market in Mexico is the increasing adoption of advanced wound care products. This includes the use of innovative wound dressings, such as foam dressings, hydrogels, and alginate dressings, which provide better moisture management and promote faster healing. There is also a growing trend towards the use of wound closure devices, such as sutures, staples, and adhesives, which offer improved wound closure and reduce the risk of scarring. Furthermore, the market is witnessing a rise in the adoption of wound care devices, such as negative pressure wound therapy systems, which aid in wound healing by removing excess fluid and promoting tissue growth.

Local special circumstances: Mexico has a large population with a high prevalence of chronic diseases, such as diabetes and obesity, which can lead to the development of chronic wounds. This creates a significant demand for wound care products and services in the country. Additionally, Mexico has a well-established healthcare system with a growing number of healthcare facilities and providers. This ensures easy access to wound care products and services for patients across the country. Moreover, there is a growing awareness among healthcare professionals about the importance of effective wound care management, which further drives the demand for advanced wound care products.

Underlying macroeconomic factors: The Wound Care market in Mexico is also influenced by several macroeconomic factors. The country has been experiencing steady economic growth, which has led to an increase in disposable income and healthcare expenditure. This enables individuals to afford advanced wound care products and services. Furthermore, the government of Mexico has been investing in healthcare infrastructure and implementing healthcare reforms to improve the quality and accessibility of healthcare services. These initiatives support the growth of the Wound Care market by ensuring better healthcare facilities and services for the population. In conclusion, the Wound Care market in Mexico is growing steadily due to the increasing customer preferences for advanced wound care products, the adoption of innovative wound care solutions, the local special circumstances of a large population with chronic diseases, and the underlying macroeconomic factors of economic growth and healthcare reforms.

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.