Market Insights Health OTC Pharmaceuticals

Wound Care - Israel

Israel

The revenue generated in the Wound Care market market in Israel is projected to reach US$5.46m in 2024.
It is expected to experience an annual growth rate of 1.15% (CAGR 2024-2029).
When comparing this market globally, the in the United States generates the highest revenue, amounting to US$1,052.00m in 2024.
In terms of per capita figures, in Israel generates US$0.59 in revenue per person in 2024.
Israel's growing focus on technological advancements has led to innovative wound care solutions in the OTC pharmaceutical market.

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

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Analyst Opinion

The Wound Care market in Israel is experiencing significant growth and development, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.Customer preferences in the Wound Care market in Israel are shifting towards advanced wound care products and treatments. There is a growing demand for products that promote faster wound healing, reduce pain, and minimize scarring. Customers are also seeking products that are easy to use and provide long-lasting results. This preference for advanced wound care products is driven by the desire for improved patient outcomes and better quality of life.Trends in the market indicate a focus on innovation and technological advancements. Companies are investing in research and development to introduce new and improved wound care solutions. This includes the development of products with enhanced antimicrobial properties, advanced dressings that promote moist wound healing, and the use of bioactive materials for tissue regeneration. These trends are driven by the need to address the growing prevalence of chronic wounds, such as diabetic foot ulcers, and the desire to improve the effectiveness and efficiency of wound care treatments.Local special circumstances in Israel also contribute to the development of the Wound Care market. The country has a high prevalence of diabetes, which increases the risk of chronic wounds. This creates a significant demand for wound care products and treatments. Additionally, Israel has a well-developed healthcare system that emphasizes innovation and technology. This provides a conducive environment for the growth of the Wound Care market, as healthcare providers and patients are open to adopting new and advanced wound care solutions.Underlying macroeconomic factors further support the development of the Wound Care market in Israel. The country has a strong economy with a high level of healthcare spending. This enables healthcare providers and patients to invest in advanced wound care products and treatments. Additionally, Israel has a well-established medical device industry, which includes manufacturers of wound care products. This industry benefits from government support and incentives, further driving the growth of the Wound Care market.In conclusion, the Wound Care market in Israel is experiencing growth and development due to customer preferences for advanced wound care products, market trends focused on innovation and technology, local special circumstances such as the high prevalence of diabetes, and underlying macroeconomic factors including a strong economy and a supportive medical device industry.

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.