Key regions: United States, Brazil, Europe, Canada, United Kingdom
The Other OTC Pharmaceuticals market in CIS is experiencing steady growth due to changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the CIS region have shifted towards self-medication and a preference for over-the-counter (OTC) pharmaceuticals. This can be attributed to the convenience and accessibility of OTC products, as well as the increasing awareness and knowledge of consumers regarding their own health. Additionally, the rising healthcare costs and limited access to healthcare services in some areas have also contributed to the growing demand for OTC pharmaceuticals. Trends in the market indicate a growing demand for specific OTC pharmaceutical products in the CIS region. For example, there is an increasing demand for pain relievers, cough and cold medications, and digestive health products. This can be attributed to the changing lifestyle patterns, such as increased stress levels, unhealthy dietary habits, and exposure to environmental factors. Furthermore, the aging population in some countries within the CIS region has also led to an increased demand for OTC pharmaceuticals targeting age-related conditions such as joint pain and cardiovascular health. Local special circumstances in the CIS region have also contributed to the development of the Other OTC Pharmaceuticals market. For instance, the regulatory environment in some countries has become more favorable towards OTC products, allowing for easier access and distribution. Additionally, the presence of a well-established retail infrastructure, including pharmacies and drugstores, has facilitated the availability and promotion of OTC pharmaceuticals. Moreover, the increasing urbanization and rising disposable income levels in the region have also contributed to the growth of the market, as consumers have more purchasing power and access to a wider range of OTC products. Underlying macroeconomic factors, such as economic growth and stability, have also played a role in the development of the Other OTC Pharmaceuticals market in the CIS region. As the economies in the region continue to grow, consumers have more disposable income to spend on healthcare products, including OTC pharmaceuticals. Additionally, the increasing urbanization and changing lifestyle patterns have led to a higher demand for OTC products, as consumers seek convenient and accessible solutions for their healthcare needs. Furthermore, the presence of a well-developed healthcare infrastructure, including hospitals, clinics, and pharmacies, has also contributed to the growth of the market, as it provides a platform for the distribution and promotion of OTC pharmaceuticals. In conclusion, the Other OTC Pharmaceuticals market in CIS is growing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards self-medication, the demand for specific OTC products, favorable regulatory environment, well-established retail infrastructure, economic growth, and healthcare infrastructure have all contributed to the development of the market in the CIS region.
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.
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