Market Insights Health Pharmacies OTC Products

Wound Care (Pharmacies) - Greece

Greece

Revenue in the Wound Care market is projected to reach US$6.94m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.14%, resulting in a market volume of US$6.89m 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$0.67 are generated in 2024.

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

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Analyst Opinion

The Wound Care (Pharmacies) market in Greece has been experiencing steady growth in recent years.

Customer preferences: Customers in Greece have shown a strong preference for wound care products that are easy to use and provide quick relief. They are particularly interested in products that promote faster healing and reduce the risk of infection. Additionally, customers in Greece prefer wound care products that are affordable and easily accessible at local pharmacies.

Trends in the market: One of the key trends in the Wound Care (Pharmacies) market in Greece is the increasing demand for advanced wound care products. Customers are becoming more aware of the benefits of using products that incorporate advanced technologies, such as hydrocolloids and foams, to promote faster healing and reduce scarring. This trend is driven by the growing aging population in Greece, as older individuals tend to have a higher risk of chronic wounds that require specialized care. Another trend in the market is the rising popularity of natural and organic wound care products. Customers are increasingly seeking products that are made from natural ingredients and do not contain any harmful chemicals or additives. This trend is in line with the overall shift towards more natural and sustainable products in the healthcare industry.

Local special circumstances: Greece has a well-developed healthcare system, with a large number of pharmacies spread across the country. This makes it convenient for customers to access wound care products and seek professional advice from pharmacists. Additionally, Greece has a high prevalence of chronic diseases, such as diabetes, which increases the demand for wound care products.

Underlying macroeconomic factors: The growth of the Wound Care (Pharmacies) market in Greece is also influenced by macroeconomic factors. The country has been experiencing economic challenges in recent years, which has led to a decrease in disposable income for many households. As a result, customers are more price-sensitive and are looking for affordable wound care products. This has led to increased competition among manufacturers and pharmacies, as they strive to offer competitive prices to attract customers. Furthermore, the ongoing COVID-19 pandemic has had an impact on the market. The pandemic has increased the awareness of the importance of wound care and hygiene, leading to a higher demand for related products. Additionally, the pandemic has highlighted the need for reliable and efficient wound care solutions, as healthcare systems have been under strain. This has further fueled the demand for advanced wound care products in Greece. In conclusion, the Wound Care (Pharmacies) market in Greece is growing due to customer preferences for easy-to-use and affordable products, as well as the increasing demand for advanced and natural wound care solutions. The local special circumstances, such as the well-developed healthcare system and the prevalence of chronic diseases, contribute to the market growth. The underlying macroeconomic factors, including economic challenges and the impact of the COVID-19 pandemic, also play a role in shaping the market trends.

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.