Market Insights Health Pharmacies OTC Products

Wound Care (Pharmacies) - United Kingdom

United Kingdom

Revenue in the Wound Care market is projected to reach US$32.85m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.37%, resulting in a market volume of US$37.50m by 2028.
In global comparison, most revenue will be generated in the United States (US$1,042.00m in 2024).
In relation to total population figures, per person revenues of US$0.48 are generated in 2024.

Key regions: South Korea, United States, Canada, United Kingdom, Australia

Market

Region

Region comparison

Currency

Analyst Opinion

The Wound Care (Pharmacies) market in United Kingdom has been experiencing steady growth in recent years.

Customer preferences: Customers in the United Kingdom have shown a strong preference for wound care products that are easily accessible and convenient to purchase. As a result, there has been an increasing demand for wound care products in pharmacies, as they provide a one-stop shop for customers to purchase their healthcare needs. Pharmacies offer a wide range of wound care products, including bandages, dressings, and ointments, which allows customers to find the specific products they need for their wound care. Additionally, pharmacies often have trained staff who can provide advice and guidance on wound care, which is highly valued by customers.

Trends in the market: One of the key trends in the Wound Care (Pharmacies) market in United Kingdom is the growing prevalence of chronic wounds. With an aging population and an increase in conditions such as diabetes, the number of people with chronic wounds is on the rise. This has led to an increased demand for wound care products in pharmacies, as individuals seek effective solutions to manage their wounds. Furthermore, there has been a shift towards the use of advanced wound care products, such as hydrocolloid dressings and foam dressings, which offer improved healing properties compared to traditional wound care products. Pharmacies have responded to this trend by expanding their range of advanced wound care products, providing customers with a wider choice of options.

Local special circumstances: The National Health Service (NHS) plays a significant role in the Wound Care (Pharmacies) market in United Kingdom. The NHS provides healthcare services to all residents of the United Kingdom, including wound care. However, due to budget constraints, the NHS often faces challenges in providing timely and comprehensive wound care services. This has created an opportunity for pharmacies to fill the gap and offer wound care products and services to patients. Pharmacies in the United Kingdom have established partnerships with the NHS, allowing them to provide wound care products and support to patients, while relieving some of the burden on the healthcare system.

Underlying macroeconomic factors: The Wound Care (Pharmacies) market in United Kingdom is influenced by several macroeconomic factors. The overall economic stability and growth in the country have contributed to an increase in disposable income, allowing individuals to spend more on healthcare products, including wound care. Additionally, the United Kingdom has a well-developed healthcare system, which provides access to healthcare services for all residents. This has created a favorable environment for the growth of the Wound Care (Pharmacies) market, as individuals have access to healthcare services and are more likely to seek out wound care products in pharmacies. Furthermore, advancements in technology and innovation have led to the development of new and improved wound care products, which are increasingly being made available in pharmacies. These factors have all contributed to the growth and development of the Wound Care (Pharmacies) market in United Kingdom.

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.