Wound Care (Pharmacies) - NAFTA

NAFTA

Highlights

Revenue in the Wound Care market is projected to reach US$1.14bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.46%, resulting in a market volume of US$1.16bn 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$2.23 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Wound Care (Pharmacies) market in NAFTA has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in the Wound Care (Pharmacies) market in NAFTA have shifted towards products that offer convenience and effectiveness. Consumers are increasingly looking for wound care products that are easy to use and provide quick relief. This has led to a rise in demand for wound care products that come in the form of creams, gels, and sprays, as they are convenient to apply and offer fast healing. Additionally, customers are also seeking products that are made from natural ingredients and are free from harsh chemicals, as they are becoming more conscious about the potential side effects of certain ingredients. Trends in the market have also played a role in the growth of the Wound Care (Pharmacies) market in NAFTA. One major trend is the increasing prevalence of chronic wounds, such as diabetic foot ulcers and pressure ulcers, due to the rising incidence of chronic diseases and an aging population. This has created a higher demand for advanced wound care products that can effectively treat and manage these types of wounds. Another trend is the growing adoption of telemedicine and e-commerce in the healthcare industry. This has made it easier for consumers to access wound care products online, leading to increased sales in the e-commerce segment of the market. Local special circumstances in the NAFTA region have also contributed to the development of the Wound Care (Pharmacies) market. The healthcare infrastructure in the region is well-developed, with a large number of pharmacies and healthcare facilities available to consumers. This makes it easier for customers to access wound care products and receive proper treatment for their wounds. Additionally, the region has a high level of healthcare expenditure, which allows for the development and availability of advanced wound care products. Underlying macroeconomic factors have also played a role in the growth of the Wound Care (Pharmacies) market in NAFTA. The region has experienced stable economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has resulted in higher demand for healthcare products, including wound care products. Furthermore, the region has a well-established pharmaceutical industry, which has facilitated the development and production of innovative wound care products. In conclusion, the Wound Care (Pharmacies) market in NAFTA has been developing due to customer preferences for convenient and effective products, trends such as the rising prevalence of chronic wounds and the growing adoption of telemedicine and e-commerce, local special circumstances including a well-developed healthcare infrastructure and high healthcare expenditure, and underlying macroeconomic factors such as stable economic growth and a strong pharmaceutical industry.

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.