Wound Care - Thailand

Thailand

Highlights

In 2024, the revenue in the Wound Care market market in Thailand amounts to US$15.19m.
It is projected to experience an annual growth rate of 0.72% (CAGR 2024-2029).
When compared to other countries around Worldwide, the United States generates the highest revenue with US$1.05bn in 2024.
In terms of per person revenues, in Thailand generates US$0.21 in 2024.
Thailand's growing aging population has led to an increased demand for advanced wound care products in the OTC Pharmaceuticals market.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Wound Care market in Thailand is experiencing significant growth and development.

Customer preferences: Customers in Thailand have shown a strong preference for advanced wound care products and treatments. This is driven by several factors, including an increasing awareness of the importance of wound care and a growing aging population. In addition, Thai consumers are becoming more health-conscious and are willing to invest in high-quality wound care products to ensure optimal healing and recovery.

Trends in the market: One of the key trends in the Wound Care market in Thailand is the increasing adoption of advanced wound care technologies. This includes the use of innovative dressings, such as hydrogels and foam dressings, which provide enhanced wound healing properties. The demand for these products is driven by their ability to promote faster healing, reduce pain, and minimize the risk of infection. Another trend in the market is the growing popularity of wound care clinics and specialized wound care centers. These facilities provide comprehensive wound care services, including assessment, treatment, and follow-up care. The availability of such specialized clinics has improved access to quality wound care services for patients across Thailand, particularly in rural areas where access to healthcare facilities may be limited.

Local special circumstances: Thailand has a large aging population, which is contributing to the growth of the Wound Care market. As people age, their skin becomes more fragile and prone to wounds, requiring specialized care and treatment. The increasing prevalence of chronic diseases, such as diabetes, is also driving the demand for wound care products and services in the country. Furthermore, Thailand is a popular medical tourism destination, attracting patients from around the world seeking high-quality and affordable healthcare services. This has led to the establishment of world-class hospitals and healthcare facilities that offer advanced wound care treatments and technologies. The presence of medical tourists in Thailand has created a demand for specialized wound care services, further driving the growth of the market.

Underlying macroeconomic factors: Thailand's growing economy and rising disposable incomes have contributed to the development of the Wound Care market. As people have more money to spend on healthcare, they are willing to invest in advanced wound care products and treatments. The government's focus on healthcare infrastructure development and initiatives to improve access to quality healthcare services have also played a role in the market's growth. In conclusion, the Wound Care market in Thailand is experiencing significant growth and development, driven by customer preferences for advanced wound care products, increasing adoption of advanced wound care technologies, the presence of specialized wound care clinics, the country's aging population, and the rise of medical tourism. These factors, along with Thailand's growing economy and government support, are expected to continue fueling the growth of the market in the coming years.

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.