Wound Care (Pharmacies) - Gambia | Statista Market Forecast

Revenue in the Wound Care market is projected to reach US$16.70k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.33%, resulting in a market volume of US$17.84k 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$0.01 are generated in 2024.

Definition:
The Wound Care market consists of a comprehensive array of over-the-counter (OTC) solutions available for purchase through pharmacies. These solutions are aimed at managing wounds, promoting healing, and preventing infections. The product offerings encompass adhesive bandages for minor wound coverage, first aid kits providing extensive supplies, gauze and tape for maintaining cleanliness, as well as wound healing ointments that support the recovery of damaged skin and wounds. This market exclusively covers product sales through pharmacies.

Additional information:
The Wound Care market comprises revenues, average revenue per capita and average revenue per pharmacy. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Plasters
Adhesive Bandages
First Aid Kits
Gauze
Healing Ointment

Anti-Foot Blister Products
Wound Closure Devices, which require professional application
Prescription Wound Treatments

The Wound Care (Pharmacies) market in Gambia is experiencing steady growth due to increasing customer preferences for convenient and accessible healthcare products, as well as the presence of local special circumstances that drive demand in the market.

Customer preferences: In Gambia, customers are increasingly seeking convenient and accessible healthcare solutions, including wound care products. This is driven by factors such as the limited availability of healthcare facilities in rural areas, where pharmacies play a crucial role in providing basic healthcare services. Customers prefer to visit pharmacies for their wound care needs, as they offer a one-stop solution for purchasing products and receiving advice from trained professionals. Additionally, customers value the convenience of being able to access wound care products without a prescription, making pharmacies an attractive option for their healthcare needs.

Trends in the market: The Wound Care (Pharmacies) market in Gambia is witnessing several trends that contribute to its growth. Firstly, there is an increasing demand for advanced wound care products, such as dressings and bandages that promote faster healing and reduce the risk of infection. This trend is driven by the growing awareness among customers about the importance of proper wound care and the availability of a wider range of products in pharmacies. Additionally, there is a rising trend of customers seeking natural and organic wound care products, driven by the growing preference for sustainable and eco-friendly solutions.

Local special circumstances: Gambia's healthcare system faces challenges in terms of accessibility and affordability, particularly in rural areas. This creates a significant demand for wound care products in pharmacies, as they serve as accessible healthcare hubs for these communities. Pharmacies not only provide essential wound care products but also offer advice and guidance on proper wound care management. Furthermore, the presence of a large elderly population in Gambia contributes to the demand for wound care products, as older individuals are more prone to wounds and require specialized care.

Underlying macroeconomic factors: The growth of the Wound Care (Pharmacies) market in Gambia is also influenced by underlying macroeconomic factors. The country's stable economic growth and increasing disposable income levels contribute to the affordability of wound care products for a larger segment of the population. Additionally, the government's focus on improving healthcare infrastructure and increasing access to essential healthcare services further drives the demand for wound care products in pharmacies. These macroeconomic factors create a favorable environment for the growth of the Wound Care (Pharmacies) market in Gambia.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.