Wound Care (Pharmacies) - United Arab Emirates

United Arab Emirates

Highlights

Revenue in the Wound Care market is projected to reach US$2.68m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.37%, resulting in a market volume of US$2.73m 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$0.28 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Wound Care (Pharmacies) market in United Arab Emirates is experiencing significant growth due to various factors.

Customer preferences: Customers in the United Arab Emirates have shown a growing preference for wound care products available in pharmacies. This can be attributed to the convenience and accessibility of pharmacies, which are widely spread across the country. Customers appreciate the ease of purchasing wound care products alongside other healthcare items, making it a one-stop solution for their needs. Additionally, customers value the expertise and advice provided by pharmacists in selecting the most suitable wound care products for their specific needs.

Trends in the market: One of the key trends in the Wound Care (Pharmacies) market in United Arab Emirates is the increasing demand for advanced wound care products. As the healthcare infrastructure in the country continues to develop, there is a growing awareness and adoption of advanced wound care solutions. These products offer superior healing capabilities and are often preferred by healthcare professionals for the treatment of complex wounds. Furthermore, the aging population in the United Arab Emirates is also contributing to the demand for advanced wound care products, as older individuals are more prone to chronic wounds. Another trend in the market is the rising popularity of natural and organic wound care products. Customers are becoming more conscious of the ingredients used in the products they use, and this extends to wound care as well. Natural and organic wound care products are perceived to be safer and gentler on the skin, which appeals to customers who prefer a more holistic approach to healthcare. This trend aligns with the overall global shift towards natural and organic products in various industries.

Local special circumstances: The United Arab Emirates has a diverse population, with a significant expatriate community. This diversity influences the demand for wound care products in the country. Expatriates often bring their healthcare preferences and habits from their home countries, which can include specific wound care products or brands. As a result, pharmacies in the United Arab Emirates need to cater to a wide range of customer preferences and offer a diverse range of wound care products to meet the needs of the diverse population.

Underlying macroeconomic factors: The growing economy of the United Arab Emirates is a key factor driving the development of the Wound Care (Pharmacies) market. As the country continues to experience economic growth, there is an increase in disposable income among the population. This allows customers to afford and invest in higher-quality wound care products, including advanced wound care solutions. Additionally, the government's focus on healthcare infrastructure development and initiatives to improve healthcare services also contribute to the growth of the market. In conclusion, the Wound Care (Pharmacies) market in United Arab Emirates is witnessing significant growth due to customer preferences for convenient access to wound care products in pharmacies, the increasing demand for advanced wound care solutions, the rising popularity of natural and organic products, the diverse population in the country, and the underlying macroeconomic factors such as economic growth and healthcare infrastructure development.

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.