Market Insights Health Pharmacies OTC Products

Wound Care (Pharmacies) - Argentina

Argentina

Revenue in the Wound Care market is projected to reach €11.92m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -1.83%, resulting in a market volume of €10.87m 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 €0.26 are generated in 2024.

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

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Región

Comparación de regiones

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Analyst Opinion

The Wound Care (Pharmacies) market in Argentina has been experiencing significant growth in recent years. Customer preferences in the Wound Care (Pharmacies) market in Argentina have been shifting towards more advanced and innovative products. Customers are increasingly looking for wound care solutions that are not only effective in treating wounds, but also provide faster healing and better overall patient comfort. This has led to an increased demand for products such as advanced wound dressings, wound closure devices, and wound healing agents. Additionally, customers are also seeking products that are easy to use and provide convenience in their daily lives. One of the key trends in the Wound Care (Pharmacies) market in Argentina is the growing adoption of advanced wound dressings. These dressings are designed to provide a moist wound healing environment, which promotes faster healing and reduces the risk of infection. The adoption of advanced wound dressings is being driven by the increasing prevalence of chronic wounds, such as diabetic ulcers and pressure ulcers, in the country. Additionally, the aging population in Argentina is also contributing to the growing demand for advanced wound care products, as older individuals are more prone to developing chronic wounds. Another trend in the market is the increasing use of wound closure devices. These devices are used to close wounds and promote healing. They are often used in surgical procedures or for the closure of traumatic wounds. The growing demand for wound closure devices is being driven by the increasing number of surgeries being performed in Argentina, as well as the rising incidence of traumatic injuries. Local special circumstances in Argentina, such as the high prevalence of chronic diseases and a growing aging population, are contributing to the growth of the Wound Care (Pharmacies) market. Chronic diseases, such as diabetes and cardiovascular diseases, are major risk factors for the development of chronic wounds. As the prevalence of these diseases continues to rise in Argentina, the demand for wound care products is expected to increase. Additionally, the aging population in the country is also driving the demand for wound care products, as older individuals are more prone to developing chronic wounds and require specialized care. Underlying macroeconomic factors, such as increasing healthcare expenditure and rising disposable incomes, are also contributing to the growth of the Wound Care (Pharmacies) market in Argentina. As healthcare expenditure continues to rise in the country, there is a greater focus on improving healthcare outcomes and patient care. This includes the adoption of advanced wound care products that can provide better outcomes for patients. Additionally, rising disposable incomes are enabling individuals to afford more expensive wound care products, further driving the growth of the market. In conclusion, the Wound Care (Pharmacies) market in Argentina is experiencing significant growth due to changing customer preferences, such as a shift towards more advanced and innovative products. The market is also being driven by trends such as the growing adoption of advanced wound dressings and wound closure devices. Local special circumstances, such as the high prevalence of chronic diseases and a growing aging population, are contributing to the growth of the market. Underlying macroeconomic factors, such as increasing healthcare expenditure and rising disposable incomes, are also playing a role in the market's development.

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.