Market Insights Health Pharmacies OTC Products

Wound Care (Pharmacies) - EU-27

EU-27

Revenue in the Wound Care market is projected to reach US$0.55bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.36%, resulting in a market volume of US$0.56bn by 2029.
In global comparison, most revenue will be generated in the United States (US$1,042.00m in 2024).
In relation to total population figures, per person revenues of US$1.22 are generated in 2024.

Key regions: China, South Korea, Japan, Canada, India

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Analyst Opinion

The Wound Care (Pharmacies) market in EU-27 is experiencing significant growth and development, driven by several key factors.

Customer preferences: Customers in the EU-27 region are increasingly seeking out wound care products from pharmacies due to the convenience and accessibility they offer. Pharmacies are easily accessible and often have extended opening hours, making it convenient for customers to purchase wound care products at their own convenience. Additionally, pharmacies are staffed by trained professionals who can provide advice and guidance on the most suitable products for specific wound care needs. This personalized service is highly valued by customers and contributes to the growing demand for wound care products in pharmacies.

Trends in the market: One of the major trends in the Wound Care (Pharmacies) market in EU-27 is the increasing focus on advanced wound care products. These products are designed to promote faster healing and reduce the risk of infection. Advanced wound care products, such as hydrogels, foam dressings, and negative pressure wound therapy, are gaining popularity among both healthcare professionals and customers. This trend is driven by the growing awareness of the benefits of advanced wound care and the increasing prevalence of chronic wounds, such as diabetic foot ulcers and pressure ulcers. Another trend in the market is the growing demand for wound care products that are environmentally friendly and sustainable. Customers in the EU-27 region are becoming more conscious of the environmental impact of their purchasing decisions and are actively seeking out products that are made from sustainable materials and have minimal negative impact on the environment. This trend is influencing the development of new wound care products that are biodegradable, recyclable, and made from renewable resources.

Local special circumstances: Each country within the EU-27 region has its own unique set of circumstances that influence the development of the Wound Care (Pharmacies) market. For example, countries with aging populations, such as Germany and Italy, are experiencing a higher demand for wound care products due to the increased prevalence of chronic wounds among the elderly. On the other hand, countries with a high incidence of outdoor activities, such as Sweden and Finland, are seeing a greater demand for wound care products that are designed for sports-related injuries.

Underlying macroeconomic factors: The growth and development of the Wound Care (Pharmacies) market in EU-27 is also influenced by underlying macroeconomic factors. For example, the increasing healthcare expenditure in the region is driving the demand for wound care products as healthcare systems invest in improving wound care outcomes. Additionally, the growing prevalence of chronic diseases, such as diabetes and obesity, is contributing to the higher demand for wound care products. Furthermore, the increasing focus on preventive healthcare and the promotion of self-care are also driving the growth of the market, as individuals are taking more responsibility for their own health and seeking out wound care products to manage minor injuries at home.

Methodology

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.