Wound Care (Pharmacies) - Ukraine

Ukraine

Highlights

Revenue in the Wound Care market is projected to reach US$4.42m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.97%, resulting in a market volume of US$4.88m 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$0.12 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Wound Care (Pharmacies) market in Ukraine is experiencing significant growth and development.

Customer preferences: Customers in Ukraine are increasingly seeking out wound care products from pharmacies. This preference for purchasing wound care products from pharmacies is driven by several factors. Firstly, customers value the convenience and accessibility of pharmacies, as they are often located in close proximity to residential areas. Additionally, customers trust the expertise of pharmacists in recommending and providing appropriate wound care products. Pharmacists are seen as knowledgeable healthcare professionals who can offer advice on the most suitable products for different types of wounds.

Trends in the market: One of the key trends in the Wound Care (Pharmacies) market in Ukraine is the growing demand for advanced wound care products. As customers become more aware of the benefits of using advanced wound care products, they are seeking out these products in pharmacies. Advanced wound care products offer several advantages over traditional wound care products, such as faster healing times and reduced risk of infection. This trend is driven by a combination of factors, including increasing healthcare awareness among customers and the availability of a wider range of advanced wound care products in pharmacies. Another trend in the market is the increasing adoption of online pharmacies for purchasing wound care products. Online pharmacies offer customers the convenience of ordering products from the comfort of their own homes, and often provide a wider selection of products compared to brick-and-mortar pharmacies. This trend is particularly prevalent among younger customers who are tech-savvy and prefer the ease of online shopping. However, traditional pharmacies still play a crucial role in the market, as customers value the face-to-face interaction with pharmacists and the ability to seek advice on wound care products.

Local special circumstances: Ukraine has a high incidence of chronic wounds, such as diabetic foot ulcers and pressure ulcers. This is due to factors such as an aging population, a high prevalence of diabetes, and limited access to advanced healthcare facilities in certain regions. As a result, there is a significant demand for wound care products in the country. The availability of wound care products in pharmacies is therefore crucial in meeting the needs of patients with chronic wounds.

Underlying macroeconomic factors: The growth of the Wound Care (Pharmacies) market in Ukraine is also influenced by underlying macroeconomic factors. Ukraine has been experiencing economic growth in recent years, which has led to an increase in disposable income and healthcare expenditure. As a result, customers have more purchasing power to buy wound care products from pharmacies. Additionally, the government has been implementing healthcare reforms to improve access to healthcare services, including wound care. These reforms have contributed to the growth of the market by increasing the availability of wound care products in pharmacies and improving healthcare infrastructure in the country. In conclusion, the Wound Care (Pharmacies) market in Ukraine is developing due to customer preferences for purchasing wound care products from pharmacies, the growing demand for advanced wound care products, the increasing adoption of online pharmacies, the high incidence of chronic wounds in the country, and underlying macroeconomic factors such as economic growth and healthcare reforms.

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.