Market Insights Health Pharmacies OTC Products

Wound Care (Pharmacies) - Oman

Oman

Revenue in the Wound Care market is projected to reach US$1.12m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.70%, resulting in a market volume of US$1.16m 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$0.24 are generated in 2024.

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

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Analyst Opinion

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

Customer preferences: Customers in Oman have shown a growing preference for wound care products available in pharmacies. This can be attributed to the convenience and accessibility of pharmacies, as they are widely distributed across the country. Additionally, customers in Oman are becoming more health-conscious and are actively seeking products that can help them manage and treat wounds effectively.

Trends in the market: One of the key trends in the Wound Care (Pharmacies) market in Oman is the increasing demand for advanced wound care products. These products are designed to promote faster healing and provide better outcomes for patients. The growing elderly population in Oman, along with the rising incidence of chronic diseases, has contributed to the demand for advanced wound care products. Additionally, there is a growing awareness among healthcare professionals about the benefits of these products, which has further fueled their adoption in the market. Another trend in the market is the shift towards natural and organic wound care products. Customers in Oman are increasingly seeking products that are made from natural ingredients and free from harmful chemicals. This trend is driven by the growing awareness about the potential side effects of synthetic products and the desire for more sustainable and eco-friendly options.

Local special circumstances: Oman has a well-developed healthcare system, with a strong emphasis on primary healthcare services. Pharmacies play a crucial role in providing healthcare services to the population, including wound care products. The government of Oman has implemented policies to ensure the availability and affordability of essential healthcare products, including wound care products, in pharmacies. This has created a favorable environment for the growth of the Wound Care (Pharmacies) market in Oman.

Underlying macroeconomic factors: The growth of the Wound Care (Pharmacies) market in Oman can also be attributed to underlying macroeconomic factors. Oman has experienced steady economic growth in recent years, which has led to an increase in disposable income and improved living standards. This has resulted in higher healthcare expenditure and increased demand for healthcare products, including wound care products. Additionally, the government's focus on healthcare infrastructure development and the expansion of healthcare services have further contributed to the growth of the market. In conclusion, the Wound Care (Pharmacies) market in Oman is experiencing significant growth due to customer preferences for convenient and accessible healthcare products, the increasing demand for advanced and natural wound care products, the favorable healthcare policies and infrastructure, and the overall economic growth of the country.

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.