Market Insights Health Pharmacies OTC Products

Wound Care (Pharmacies) - Lebanon

Lebanon

Revenue in the Wound Care market is projected to reach US$0.83m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of -3.16%, resulting in a market volume of US$0.73m by 2028.
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$0.16 are generated in 2024.

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

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Analyst Opinion

The Wound Care (Pharmacies) market in Lebanon has been experiencing significant growth in recent years.

Customer preferences: Customers in Lebanon have shown a growing preference for wound care products that are effective in treating a variety of wounds, including cuts, burns, and surgical incisions. They also value products that promote faster healing and reduce the risk of infection. Additionally, customers in Lebanon tend to prefer wound care products that are easily accessible in pharmacies, as they rely heavily on these establishments for their healthcare needs.

Trends in the market: One of the key trends in the Wound Care (Pharmacies) market in Lebanon is the increasing demand for 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 environment for healing, promote faster tissue regeneration, and reduce the risk of scarring. As a result, customers are willing to pay a premium for these advanced wound care products, driving the growth of the market. Another trend in the market is the rising popularity of natural and organic wound care products. Customers in Lebanon are becoming more conscious about the ingredients used in the products they use on their wounds. They prefer products that are free from harmful chemicals and are made from natural and organic ingredients. This trend is driven by the growing awareness about the potential side effects of synthetic wound care products and the desire to use more sustainable and environmentally friendly options.

Local special circumstances: Lebanon has a well-developed healthcare system, with a strong network of pharmacies that provide easy access to healthcare products, including wound care products. Pharmacies in Lebanon play a crucial role in the distribution of wound care products, as they are the primary point of contact for customers seeking healthcare advice and products. This accessibility and convenience factor has contributed to the growth of the Wound Care (Pharmacies) market in Lebanon.

Underlying macroeconomic factors: The growth of the Wound Care (Pharmacies) market in Lebanon can also be attributed to the country's improving economic conditions. Lebanon has experienced stable economic growth in recent years, which has led to an increase in disposable income among consumers. As a result, customers are more willing to spend on healthcare products, including wound care products. The growing middle class in Lebanon has also contributed to the market growth, as these consumers have higher purchasing power and are more likely to invest in quality wound care products. In conclusion, the Wound Care (Pharmacies) market in Lebanon is experiencing significant growth due to customer preferences for effective and accessible wound care products, the increasing demand for advanced and natural products, the accessibility and convenience of pharmacies, and the improving economic conditions in the country. These factors are driving the market's growth and creating opportunities for both local and international wound care product manufacturers and suppliers.

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.