Market Insights Health Pharmacies OTC Products

Wound Care (Pharmacies) - Thailand

Thailand

Revenue in the Wound Care market is projected to reach €12.59m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.97%, resulting in a market volume of €13.21m 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 €0.18 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 Thailand is experiencing significant growth and development.

Customer preferences: Customers in the Wound Care (Pharmacies) market in Thailand are increasingly seeking products that are effective in treating wounds and promoting healing. They are also looking for products that are easy to use and convenient to purchase. Additionally, customers in Thailand are becoming more health-conscious and are willing to invest in high-quality wound care products.

Trends in the market: One of the key trends in the Wound Care (Pharmacies) market in Thailand is the increasing demand for advanced wound care products. This can be attributed to the rising prevalence of chronic wounds, such as diabetic ulcers and pressure ulcers, in the country. Advanced wound care products offer superior healing properties and are more effective in managing complex wounds. As a result, healthcare professionals in Thailand are increasingly recommending these products to their patients. Another trend in the market is the growing popularity of natural and organic wound care products. Thai consumers are becoming more aware of the potential side effects of synthetic ingredients and are seeking products that are made from natural and organic ingredients. This trend is in line with the overall shift towards natural and organic products in the healthcare and wellness industry.

Local special circumstances: Thailand has a rapidly aging population, which is contributing to the growth of the Wound Care (Pharmacies) market. Elderly individuals are more prone to developing chronic wounds and require specialized wound care products for their treatment. The increasing number of elderly individuals in Thailand is driving the demand for wound care products in pharmacies. Additionally, the government of Thailand has been actively promoting healthcare and wellness initiatives, which is further fueling the growth of the Wound Care (Pharmacies) market. The government's focus on improving healthcare infrastructure and increasing access to healthcare services has resulted in an increased demand for wound care products in pharmacies.

Underlying macroeconomic factors: Thailand's strong economic growth and increasing disposable income levels are contributing to the development of the Wound Care (Pharmacies) market. As more individuals have the financial means to invest in healthcare, the demand for wound care products is expected to continue to rise. Furthermore, the increasing prevalence of lifestyle-related diseases, such as diabetes and obesity, in Thailand is driving the demand for wound care products. These diseases increase the risk of developing chronic wounds, which in turn creates a need for effective wound care solutions. In conclusion, the Wound Care (Pharmacies) market in Thailand is experiencing growth and development due to customer preferences for effective and convenient wound care products, as well as the trends towards advanced and natural products. The local special circumstances, such as the aging population and government initiatives, are also contributing to the market's growth. Additionally, underlying macroeconomic factors, such as strong economic growth and increasing disposable income levels, are driving the demand for wound care products in Thailand.

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.