Market Insights Health OTC Pharmaceuticals

Wound Care - ASEAN

ASEAN

In 2024, the revenue in the Wound Care market market in ASEAN amounts to US$83.18m.
This market is projected to experience an annual growth rate of 0.73% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue, reaching US$1,052.00m in 2024.
Furthermore, in relation to the total population, per person revenues amount to US$0.12 in 2024.
In the ASEAN region, Singapore is leading the way in the adoption of advanced wound care technologies in the OTC Pharmaceuticals market.

Key regions: Australia, Europe, Canada, United States, Japan

Market

Region

Region comparison

Currency

Analyst Opinion

The Wound Care market in ASEAN is experiencing steady growth due to increasing customer preferences for advanced wound care products and the presence of local special circumstances. Customer preferences in the ASEAN region are shifting towards advanced wound care products that offer faster healing and better outcomes. This is driven by the growing awareness among consumers about the benefits of advanced wound care, such as reduced healing time, lower risk of infection, and improved patient comfort. As a result, there is a rising demand for products like wound dressings, wound closure devices, and wound care biologics. Trends in the market indicate a shift towards innovative wound care solutions that cater to specific patient needs. For example, there is a growing demand for wound dressings with antimicrobial properties to prevent infections, especially in countries with high prevalence of antibiotic-resistant bacteria. Additionally, the market is witnessing an increasing adoption of advanced wound closure devices, such as surgical staples and sutures, which offer better wound healing outcomes compared to traditional methods. Local special circumstances in the ASEAN region also contribute to the development of the Wound Care market. For instance, the region has a large population with a significant proportion of elderly individuals. As the elderly population is more prone to chronic wounds, the demand for wound care products is expected to grow. Additionally, the ASEAN region is prone to natural disasters, such as typhoons and earthquakes, which can lead to an increased incidence of traumatic wounds. This further drives the demand for wound care products in the region. Underlying macroeconomic factors also play a role in the growth of the Wound Care market in ASEAN. The region is experiencing economic growth, which has led to an increase in healthcare spending. As a result, there is greater access to healthcare facilities and a higher demand for advanced wound care products. Furthermore, advancements in healthcare infrastructure and technology have made wound care products more accessible and affordable to a larger population in the ASEAN region. In conclusion, the Wound Care market in ASEAN is developing due to customer preferences for advanced wound care products, trends towards innovative solutions, local special circumstances, and underlying macroeconomic factors. The market is expected to continue growing as the region's population ages and healthcare spending increases.

Methodology

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.