Wound Care (Pharmacies) - Saudi Arabia

Revenue in the Wound Care market is projected to reach US$7.61m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.11%, resulting in a market volume of US$7.65m 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$0.20 are generated in 2024.

Definition:
The Wound Care market consists of a comprehensive array of over-the-counter (OTC) solutions available for purchase through pharmacies. These solutions are aimed at managing wounds, promoting healing, and preventing infections. The product offerings encompass adhesive bandages for minor wound coverage, first aid kits providing extensive supplies, gauze and tape for maintaining cleanliness, as well as wound healing ointments that support the recovery of damaged skin and wounds. This market exclusively covers product sales through pharmacies.

Additional information:
The Wound Care market comprises revenues, average revenue per capita and average revenue per pharmacy. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Plasters
Adhesive Bandages
First Aid Kits
Gauze
Healing Ointment

Anti-Foot Blister Products
Wound Closure Devices, which require professional application
Prescription Wound Treatments

The Wound Care (Pharmacies) market in Saudi Arabia is experiencing significant growth due to several factors. Customer preferences are shifting towards more advanced wound care products, which are driving the demand for these products in the market. Additionally, the local special circumstances and underlying macroeconomic factors in Saudi Arabia are also contributing to the development of the market. Customer preferences in the Wound Care (Pharmacies) market in Saudi Arabia are increasingly focused on advanced wound care products. Customers are becoming more aware of the benefits of using these products, such as faster healing times and reduced risk of infection. As a result, there is a growing demand for products such as wound dressings, wound closure devices, and wound care biologics. This shift in customer preferences is driving the growth of the market in Saudi Arabia. Trends in the market indicate that there is a growing demand for wound care products in Saudi Arabia. This is due to several factors, including an aging population and an increase in chronic diseases such as diabetes. The aging population is more prone to developing chronic wounds, which require specialized wound care products for treatment. Additionally, the increasing prevalence of diabetes in Saudi Arabia is leading to a higher incidence of diabetic foot ulcers, further driving the demand for wound care products. Local special circumstances in Saudi Arabia are also contributing to the development of the Wound Care (Pharmacies) market. The country has a well-established healthcare system, with a large number of hospitals and clinics that provide wound care services. This infrastructure supports the demand for wound care products in the market. Additionally, the government of Saudi Arabia has been investing in the healthcare sector, which is further driving the growth of the market. Underlying macroeconomic factors in Saudi Arabia are also playing a role in the development of the Wound Care (Pharmacies) market. The country has a strong economy, with a high per capita income. This allows individuals to afford advanced wound care products, leading to increased demand in the market. Additionally, the government has been focusing on diversifying the economy, which has resulted in increased healthcare spending. This has further contributed to the growth of the market. In conclusion, the Wound Care (Pharmacies) market in Saudi Arabia is developing due to shifting customer preferences towards advanced wound care products, local special circumstances such as a well-established healthcare system, and underlying macroeconomic factors including a strong economy and increased healthcare spending. These factors are driving the growth of the market and are expected to continue to do so in the future.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.