Wound Care - GCC | Statista Market Forecast

Wound Care - GCC

GCC

Highlights

In 2024, the revenue in the Wound Care market market in GCC amounts to US$21.15m.
It is projected to grow annually by 0.45% (CAGR 2024-2029).
When comparing globally, the United States generates the highest revenue, reaching US$1.05bn in 2024.
In terms of per person revenues, US$0.35 is generated in 2024.
In the GCC, the demand for advanced wound care products is growing rapidly as the region faces a rising incidence of chronic wounds and an aging population.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Wound Care market in GCC is experiencing significant growth and development due to various factors. Customer preferences for advanced wound care products, increasing prevalence of chronic wounds, and the presence of local special circumstances are driving the market in this region. Additionally, underlying macroeconomic factors such as population growth, rising healthcare expenditure, and government initiatives are contributing to the growth of the Wound Care market in GCC.Customer preferences in the GCC region are shifting towards advanced wound care products that offer better healing outcomes and improved patient comfort. Patients and healthcare providers are increasingly opting for products such as hydrogels, foam dressings, and negative pressure wound therapy, as these products have been shown to promote faster healing and reduce the risk of infection. The demand for these advanced wound care products is driving the growth of the market in GCC.Another factor driving the growth of the Wound Care market in GCC is the increasing prevalence of chronic wounds. The region has a high prevalence of diseases such as diabetes and obesity, which are known to increase the risk of developing chronic wounds. As the incidence of these diseases continues to rise, the demand for wound care products is also increasing. Additionally, the aging population in GCC is prone to developing chronic wounds, further contributing to the growth of the market.Local special circumstances in the GCC region also play a role in the development of the Wound Care market. The region has a hot climate, which can lead to increased sweating and moisture-related skin problems. This creates a need for specialized wound care products that can effectively manage moisture and prevent complications. Additionally, the region has a high incidence of burn injuries due to industrial accidents and fire-related incidents. This creates a demand for advanced wound care products that can promote healing and prevent infection in burn wounds.Underlying macroeconomic factors such as population growth, rising healthcare expenditure, and government initiatives are also driving the growth of the Wound Care market in GCC. The GCC region has a rapidly growing population, which increases the demand for healthcare services and products. As the healthcare expenditure in the region continues to rise, there is an increased focus on improving healthcare infrastructure and services, including wound care. Government initiatives aimed at improving healthcare outcomes and reducing the burden of chronic diseases also contribute to the growth of the market.In conclusion, the Wound Care market in GCC is experiencing significant growth and development due to customer preferences for advanced wound care products, the increasing prevalence of chronic wounds, local special circumstances, and underlying macroeconomic factors. As the demand for wound care products continues to rise in the region, there are ample opportunities for companies operating in this market to expand their presence and cater to the needs of the growing population.

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.