Wound Care - United Kingdom

United Kingdom

Highlights

Revenue in the Wound Care market amounts to US$72.26m in 2024. The market is expected to grow annually by 0.11% (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$1.06 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Wound Care market in United Kingdom has been experiencing significant growth in recent years.

Customer preferences: Customers in the United Kingdom have shown a strong preference for advanced wound care products. This can be attributed to the increasing awareness about the benefits of advanced wound care in promoting faster healing and reducing the risk of infection. Additionally, customers are also seeking products that are easy to use and provide effective pain management.

Trends in the market: One of the key trends in the Wound Care market in United Kingdom is the adoption of innovative and technologically advanced products. This includes the use of advanced dressings, such as foam dressings, hydrocolloid dressings, and alginate dressings, which offer superior wound healing properties. Another trend is the growing demand for active wound care products, which contain ingredients such as silver, honey, or collagen, that help to promote wound healing.

Local special circumstances: The United Kingdom has a well-developed healthcare system, which includes a strong network of hospitals, clinics, and home healthcare providers. This has contributed to the availability and accessibility of wound care products across the country. Additionally, the aging population in the United Kingdom has also played a significant role in driving the demand for wound care products, as older individuals are more prone to chronic wounds and require specialized care.

Underlying macroeconomic factors: The growth of the Wound Care market in United Kingdom can be attributed to several underlying macroeconomic factors. Firstly, the increasing prevalence of chronic diseases, such as diabetes and obesity, has led to a higher incidence of wounds and ulcers, creating a greater demand for wound care products. Secondly, the rising healthcare expenditure in the United Kingdom has resulted in increased investment in healthcare infrastructure and resources, including wound care services. Lastly, the growing emphasis on preventive healthcare and the shift towards outpatient care have also contributed to the growth of the wound care market, as early intervention and effective wound management are seen as key strategies in reducing healthcare costs and improving patient outcomes. In conclusion, the Wound Care market in United Kingdom is experiencing significant growth, driven by customer preferences for advanced wound care products, the adoption of innovative and technologically advanced products, the availability and accessibility of wound care services, the aging population, and underlying macroeconomic factors such as the increasing prevalence of chronic diseases, rising healthcare expenditure, and the emphasis on preventive healthcare.

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.