Market Insights Health Pharmacies OTC Products

Wound Care (Pharmacies) - Uganda

Uganda

Revenue in the Wound Care market is projected to reach US$0.93m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.66%, resulting in a market volume of US$1.01m 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$0.02 are generated in 2024.

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

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Analyst Opinion

The Wound Care (Pharmacies) market in Uganda has been experiencing significant growth in recent years. Customer preferences in the Wound Care (Pharmacies) market in Uganda are largely driven by the increasing awareness and importance of wound care among the population. As people become more educated about the benefits of proper wound care, they are seeking out products and services that can help them effectively treat and manage their wounds. This has led to a growing demand for wound care products in pharmacies across the country. Trends in the market reflect the increasing availability and variety of wound care products in Ugandan pharmacies. Pharmacies are expanding their product offerings to include a wide range of wound care products, including dressings, ointments, and bandages. This allows customers to choose the products that best meet their specific needs and preferences. Additionally, pharmacies are also offering wound care services, such as wound assessment and consultation, to provide customers with comprehensive care and support. Local special circumstances in Uganda contribute to the development of the Wound Care (Pharmacies) market. The country has a high prevalence of wounds, particularly among individuals engaged in manual labor and those living in rural areas. This creates a large customer base for wound care products and services. Additionally, Uganda has a growing healthcare sector, with an increasing number of pharmacies opening across the country. This provides greater accessibility to wound care products and services for the population. Underlying macroeconomic factors also play a role in the growth of the Wound Care (Pharmacies) market in Uganda. The country has been experiencing steady economic growth, which has led to an increase in disposable income among the population. This allows individuals to allocate a larger portion of their budget towards healthcare expenses, including wound care products. Furthermore, the government has been investing in healthcare infrastructure and promoting healthcare awareness, which has further contributed to the development of the Wound Care (Pharmacies) market. In conclusion, the Wound Care (Pharmacies) market in Uganda is developing due to increasing customer preferences for wound care products and services, the availability of a wide range of products in pharmacies, local special circumstances such as a high prevalence of wounds, and underlying macroeconomic factors such as economic growth and government investments in healthcare.

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.