Market Insights Consumer OTC Pharmaceuticals

Wound Care - Israel

Israel

Revenue in the Wound Care market amounts to €5.01m in 2024. The market is expected to grow annually by 0.98% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€965m in 2024).
In relation to total population figures, per person revenues of €0.54 are generated in 2024.

Key regions: United States, Indonesia, Germany, Europe, United Kingdom

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Analyst Opinion

The Wound Care market in Israel is experiencing significant growth and development due to several key factors. Customer preferences in the Wound Care market in Israel are primarily driven by the increasing prevalence of chronic wounds and the aging population.

As the population ages, the demand for wound care products and services is expected to increase. Additionally, there is a growing awareness among consumers about the importance of proper wound care management, leading to a higher demand for advanced wound care products. Trends in the market indicate a shift towards the adoption of advanced wound care technologies and products.

This is driven by the need for more effective and efficient wound healing solutions. Advanced wound care products such as dressings, bandages, and wound closure devices are gaining popularity due to their ability to accelerate the healing process and reduce the risk of infection. The market is also witnessing a rise in the use of innovative wound care technologies, such as negative pressure wound therapy and bioactive wound dressings, which provide enhanced healing outcomes.

Local special circumstances in Israel contribute to the development of the Wound Care market. The country has a well-established healthcare system with advanced medical infrastructure and a strong focus on research and development. This enables the introduction of new and innovative wound care products into the market.

Additionally, Israel has a high level of technological expertise and innovation, which further supports the growth of the advanced wound care sector. Underlying macroeconomic factors also play a role in the development of the Wound Care market in Israel. The country has a stable and growing economy, which provides a favorable environment for investment and business expansion.

The government's commitment to healthcare and medical research further supports the growth of the market. Additionally, Israel has a strong export-oriented economy, which allows local wound care companies to tap into international markets and expand their customer base. In conclusion, the Wound Care market in Israel is experiencing growth and development driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

The increasing prevalence of chronic wounds and the aging population are driving customer preferences towards advanced wound care products. The market is witnessing a shift towards the adoption of advanced wound care technologies and products. Local special circumstances, such as a well-established healthcare system and a focus on research and development, contribute to the development of the market.

Underlying macroeconomic factors, including a stable economy and government support, further support the growth of the Wound Care market in Israel.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. 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 particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.