Market Insights Health Pharmacies OTC Products

Wound Care (Pharmacies) - India

India

Revenue in the Wound Care market is projected to reach €37.04m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.38%, resulting in a market volume of €37.74m by 2029.
In global comparison, most revenue will be generated in the United States (€966.50m in 2024).
In relation to total population figures, per person revenues of €0.03 are generated in 2024.

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

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Analyst Opinion

The Wound Care (Pharmacies) market in India has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to the development of this market. Customer preferences in the Wound Care (Pharmacies) market in India have shifted towards more advanced and innovative products. Customers are increasingly seeking products that provide faster healing, pain relief, and convenience. This has led to a rise in demand for products such as advanced wound dressings, wound closure devices, and antimicrobial dressings. Additionally, customers are also looking for products that are cost-effective and easily accessible, which has further fueled the growth of the market. Trends in the Wound Care (Pharmacies) market in India include the increasing adoption of digital technologies and e-commerce platforms. Many customers now prefer to purchase wound care products online, as it offers convenience and a wider range of options. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increased focus on online shopping. As a result, both traditional pharmacies and online retailers have been expanding their product offerings in the wound care segment to cater to this growing demand. Local special circumstances in India have also played a role in the development of the Wound Care (Pharmacies) market. India has a large population, and the prevalence of chronic diseases such as diabetes and hypertension is high. These conditions often lead to complications such as chronic wounds, which require specialized wound care products for effective treatment. The increasing awareness and understanding of the importance of proper wound care management have also contributed to the growth of the market. Underlying macroeconomic factors have also influenced the development of the Wound Care (Pharmacies) market in India. The country's growing economy has resulted in an expanding middle class with increased purchasing power. This has led to higher healthcare spending, including on wound care products. Additionally, the government's focus on improving healthcare infrastructure and increasing access to healthcare services has also contributed to the growth of the market. In conclusion, the Wound Care (Pharmacies) market in India is developing due to customer preferences for advanced and innovative products, the increasing adoption of digital technologies and e-commerce platforms, local special circumstances such as the prevalence of chronic diseases, and underlying macroeconomic factors such as a growing economy and government initiatives. The market is expected to continue to grow in the coming years as these factors continue to drive demand for wound care products.

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.