Wound Care (Pharmacies) - GCC

GCC

Highlights

Revenue in the Wound Care market is projected to reach US$14.67m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.35%, resulting in a market volume of US$14.93m 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$0.24 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Wound Care (Pharmacies) market in GCC is witnessing significant growth due to various factors such as increasing prevalence of chronic wounds, rising geriatric population, and growing awareness about wound care management.

Customer preferences: Customers in the GCC region are increasingly seeking advanced wound care products that promote faster healing and provide better pain management. They prefer products that are easy to use and require minimal maintenance. Additionally, there is a growing demand for wound care products that are cost-effective and provide long-lasting relief. Customers also value products that are gentle on the skin and do not cause any adverse reactions.

Trends in the market: One of the key trends in the Wound Care (Pharmacies) market in GCC is the growing adoption of advanced wound care products. These products, such as hydrogels, foam dressings, and alginate dressings, offer superior wound healing properties compared to traditional wound care products. They provide a moist wound environment, which promotes faster healing and reduces the risk of infection. Additionally, these products offer better pain management and improved patient comfort. Another trend in the market is the increasing focus on wound care education and training. Healthcare professionals in the GCC region are being trained on the latest wound care techniques and products to ensure optimal patient outcomes. This trend is driven by the need to improve the quality of wound care services and reduce healthcare costs associated with ineffective wound management.

Local special circumstances: The GCC region has a high prevalence of chronic diseases such as diabetes and obesity, which are major risk factors for chronic wounds. This has led to a significant increase in the demand for wound care products in the region. Additionally, the GCC countries have a large expatriate population, which further contributes to the demand for wound care products as these individuals may have limited access to healthcare services in their home countries.

Underlying macroeconomic factors: The GCC region has been experiencing steady economic growth, which has led to an increase in healthcare expenditure. This has resulted in improved healthcare infrastructure and increased access to healthcare services, including wound care. Additionally, the GCC countries have a high per capita income, which enables individuals to afford advanced wound care products. Furthermore, the GCC region is witnessing a rapid increase in the geriatric population. As individuals age, the risk of developing chronic wounds increases, driving the demand for wound care products. The growing awareness about wound care management and the availability of advanced wound care products are also contributing to the market growth. In conclusion, the Wound Care (Pharmacies) market in GCC is growing due to increasing customer preferences for advanced wound care products, the adoption of new wound care techniques, and the presence of local special circumstances such as a high prevalence of chronic diseases and a large expatriate population. The underlying macroeconomic factors, including steady economic growth, increased healthcare expenditure, and a growing geriatric population, are further driving the market growth in the region.

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.