Wound Care (Pharmacies) - Africa

Africa

Highlights

Revenue in the Wound Care market is projected to reach US$29.91m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.62%, resulting in a market volume of US$30.85m by 2029.
In global comparison, most revenue will be generated United States (US$1.04bn in 2024).
In relation to total population figures, per person revenues of US$0.02 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Wound Care (Pharmacies) market in Africa is experiencing significant growth and development due to several key factors.

Customer preferences: Customers in the Wound Care (Pharmacies) market in Africa are increasingly seeking products that are effective in treating wounds and promoting healing. They are also looking for products that are affordable and easily accessible. Additionally, customers are becoming more conscious of the ingredients used in wound care products and are opting for natural and organic options.

Trends in the market: One of the major trends in the Wound Care (Pharmacies) market in Africa is the increasing demand for advanced wound care products. This includes products such as dressings with antimicrobial properties, negative pressure wound therapy devices, and bioactive wound care products. These advanced products are more effective in treating complex wounds and promoting faster healing. Another trend in the market is the growing adoption of telemedicine and online pharmacies. This allows customers to consult with healthcare professionals remotely and order wound care products online, making it more convenient for them to access the products they need. This trend has been accelerated by the COVID-19 pandemic, as people are seeking ways to limit their exposure to healthcare facilities.

Local special circumstances: The Wound Care (Pharmacies) market in Africa faces unique challenges and opportunities. One of the challenges is the lack of access to healthcare facilities in remote areas. This makes it difficult for people in these areas to receive proper wound care treatment. As a result, there is a growing demand for wound care products that can be used at home, without the need for professional medical assistance. On the other hand, Africa has a rich biodiversity and traditional medicine practices that can be leveraged in the development of wound care products. Local plants and herbs have been used for centuries to treat wounds and promote healing. Incorporating these traditional remedies into modern wound care products can provide unique and effective solutions for customers in Africa.

Underlying macroeconomic factors: The growth of the Wound Care (Pharmacies) market in Africa is supported by several macroeconomic factors. One of the key factors is the increasing healthcare expenditure in the region. Governments and private healthcare providers are investing more in healthcare infrastructure and services, including wound care. This has led to an expansion of the market and increased availability of wound care products in pharmacies across Africa. Additionally, the rising prevalence of chronic diseases, such as diabetes and obesity, is driving the demand for wound care products. These conditions increase the risk of developing chronic wounds, such as diabetic foot ulcers, which require specialized wound care treatment. In conclusion, the Wound Care (Pharmacies) market in Africa is experiencing growth and development due to customer preferences for effective and affordable products, the adoption of advanced wound care technologies, unique local circumstances, and underlying macroeconomic factors such as increased healthcare expenditure and the rising prevalence of chronic diseases.

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.