Market Insights Health Pharmacies OTC Products

Wound Care (Pharmacies) - Spain

Spain

Revenue in the Wound Care market is projected to reach US$33.21m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.86%, resulting in a market volume of US$34.67m 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$0.70 are generated in 2024.

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

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Analyst Opinion

The Wound Care (Pharmacies) market in Spain is experiencing steady growth, driven by customer preferences for convenient and accessible healthcare products.

Customer preferences: Customers in Spain prefer to purchase wound care products from pharmacies due to their convenience and accessibility. Pharmacies are easily accessible to the general public, with many located in residential areas and open long hours. This allows customers to easily access wound care products when they need them, without having to make a separate trip to a specialized medical store or hospital. Additionally, customers trust the expertise of pharmacists in recommending the right wound care products for their specific needs.

Trends in the market: One of the key trends in the Wound Care (Pharmacies) market in Spain is the increasing demand for advanced wound care products. As the population ages, the prevalence of chronic wounds, such as diabetic ulcers and pressure ulcers, is increasing. These types of wounds require specialized wound care products that promote faster healing and prevent infection. Customers are willing to pay a premium for these advanced products, as they offer better outcomes and improved quality of life. Another trend in the market is the growing popularity of natural and organic wound care products. Customers are becoming more conscious about the ingredients used in their healthcare products and are opting for natural alternatives. This trend is driven by the increasing awareness of the potential side effects of synthetic ingredients and the desire for more sustainable and environmentally friendly options.

Local special circumstances: Spain has a high prevalence of chronic diseases, such as diabetes and obesity, which are risk factors for the development of chronic wounds. This contributes to the demand for wound care products in the country. Additionally, Spain has a large elderly population, who are more prone to developing chronic wounds due to age-related factors. This demographic trend further drives the demand for wound care products in the country.

Underlying macroeconomic factors: The Spanish economy has been recovering from the global financial crisis, leading to increased consumer spending power. As a result, customers are more willing to spend on healthcare products, including wound care products. The healthcare sector in Spain is also supported by a robust public healthcare system, which provides access to wound care treatments and products for a large portion of the population. These factors contribute to the growth of the Wound Care (Pharmacies) market in Spain.

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.