Market Insights Health Pharmacies OTC Products

Wound Care (Pharmacies) - Chile

Chile

Revenue in the Wound Care market is projected to reach €7.81m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -1.31%, resulting in a market volume of €7.31m by 2029.
In global comparison, most revenue will be generated in the United States (€956.50m in 2024).
In relation to total population figures, per person revenues of €0.40 are generated in 2024.

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

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Wound Care (Pharmacies) market in Chile is experiencing steady growth due to a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Chilean customers have shown a growing preference for wound care products available at pharmacies. This can be attributed to several factors. Firstly, pharmacies are easily accessible to the general population, with a strong presence in both urban and rural areas. Customers appreciate the convenience of being able to purchase wound care products alongside other healthcare items. Additionally, pharmacies in Chile are known for their knowledgeable staff who can provide advice and recommendations on the most suitable wound care products for specific needs. This personalized service is highly valued by customers, leading to increased trust and loyalty towards pharmacies as a preferred destination for wound care products.

Trends in the market: One of the key trends in the Wound Care (Pharmacies) market in Chile is the increasing demand for advanced wound care products. This can be attributed to the growing awareness among consumers about the benefits of using advanced wound care products for faster healing and reduced risk of infection. As a result, there is a shift towards products such as hydrogels, foam dressings, and alginate dressings, which offer superior wound healing properties compared to traditional wound care products. This trend is further supported by the aging population in Chile, as older individuals are more prone to chronic wounds that require advanced wound care solutions.

Local special circumstances: Chile's healthcare system plays a significant role in the development of the Wound Care (Pharmacies) market. The country has a universal healthcare system, providing access to healthcare services for all citizens. However, due to the high demand for healthcare services, there can be long waiting times for non-emergency treatments. This has led to an increased reliance on self-care and over-the-counter products for minor wounds and injuries. As a result, pharmacies have become an essential resource for Chilean consumers, offering a wide range of wound care products that can be easily purchased without the need for a doctor's prescription.

Underlying macroeconomic factors: The Wound Care (Pharmacies) market in Chile is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, resulting in an increase in disposable income among the population. This has led to a higher willingness to spend on healthcare products, including wound care products. Furthermore, the government's focus on improving healthcare infrastructure and access to healthcare services has created a favorable environment for the growth of the Wound Care (Pharmacies) market. Increased investment in healthcare facilities and initiatives to raise awareness about wound care have contributed to the overall development of the market. In conclusion, the Wound Care (Pharmacies) market in Chile is witnessing growth due to customer preferences for accessible and knowledgeable pharmacy services, the increasing demand for advanced wound care products, the reliance on self-care in the healthcare system, and the favorable macroeconomic factors. These factors collectively contribute to the development and expansion of the market in Chile.

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.