Market Insights Health Pharmacies OTC Products

Wound Care (Pharmacies) - Norway

Norway

Revenue in the Wound Care market is projected to reach US$20.54m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.33%, resulting in a market volume of US$20.88m 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$3.73 are generated in 2024.

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

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Analyst Opinion

The Wound Care (Pharmacies) market in Norway has seen significant growth in recent years.

Customer preferences: Customers in Norway have shown a strong preference for wound care products that are effective, convenient, and affordable. They value products that are easy to use and provide quick relief from pain and discomfort. Additionally, customers in Norway prioritize products that are made from natural ingredients and are environmentally friendly. They are also increasingly seeking out wound care products that are tailored to their specific needs, such as products for sensitive skin or for specific types of wounds.

Trends in the market: One major trend in the Wound Care (Pharmacies) market in Norway is the increasing demand for advanced wound care products. This is driven by the aging population and the growing prevalence of chronic wounds, such as diabetic ulcers and pressure sores. Advanced wound care products, such as hydrogels, foam dressings, and antimicrobial dressings, are designed to promote faster healing and reduce the risk of infection. These products are gaining popularity among healthcare professionals and patients alike. Another trend in the market is the growing popularity of online pharmacies. Norwegian consumers are increasingly turning to online platforms to purchase their wound care products. This trend is driven by the convenience and accessibility of online shopping, as well as the availability of a wide range of products. Online pharmacies also often offer competitive prices and discounts, making them an attractive option for cost-conscious consumers.

Local special circumstances: Norway has a well-developed healthcare system that provides universal access to healthcare services, including wound care. The government plays a key role in regulating the healthcare sector and ensuring the availability and affordability of essential medical products. This creates a favorable environment for the growth of the Wound Care (Pharmacies) market in the country.

Underlying macroeconomic factors: The strong economy in Norway has contributed to the growth of the Wound Care (Pharmacies) market. The country has a high per capita income and a high standard of living, which allows consumers to afford quality wound care products. Additionally, the government's focus on healthcare and the aging population in the country are driving the demand for wound care products. In conclusion, the Wound Care (Pharmacies) market in Norway is experiencing significant growth due to customer preferences for effective and convenient products, the increasing demand for advanced wound care products, the growing popularity of online pharmacies, the favorable healthcare system, and the strong economy.

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.