Key regions: Europe, Germany, United States, Brazil, Australia
The Other OTC Pharmaceuticals market in Jordan is experiencing steady growth due to several factors. Customer preferences for over-the-counter medications, local special circumstances, and underlying macroeconomic factors are all contributing to the development of this market.Customer preferences play a significant role in the growth of the Other OTC Pharmaceuticals market in Jordan. Consumers in Jordan have shown a preference for self-medication and over-the-counter medications for minor ailments and common health issues. This preference is driven by factors such as convenience, affordability, and the ability to treat common health problems without the need for a doctor's prescription. Additionally, the availability of a wide range of OTC medications in pharmacies and retail outlets further supports the growth of this market.Trends in the market also contribute to its development. One notable trend is the increasing demand for natural and herbal OTC medications. Consumers in Jordan are becoming more health-conscious and are seeking alternative remedies that are perceived to be more natural and have fewer side effects. This trend is in line with the global shift towards natural and holistic healthcare solutions. As a result, manufacturers and retailers are expanding their product offerings to include a variety of natural and herbal OTC medications to cater to this demand.Local special circumstances in Jordan also impact the development of the Other OTC Pharmaceuticals market. The country has a growing population with increasing healthcare needs. The government's efforts to improve access to healthcare services, including the expansion of primary healthcare centers and the implementation of universal health insurance, have contributed to an increase in healthcare utilization. This, in turn, has led to a higher demand for OTC medications as consumers seek to address their healthcare needs through self-medication.Underlying macroeconomic factors further support the growth of the Other OTC Pharmaceuticals market in Jordan. The country's stable economic conditions, coupled with a rising middle class and increasing disposable incomes, have led to an expansion in consumer spending on healthcare products. As a result, consumers are more willing to spend on OTC medications to address their healthcare needs. Additionally, the government's focus on promoting the local pharmaceutical industry through favorable policies and incentives has encouraged the growth of domestic OTC pharmaceutical manufacturers, further contributing to the development of the market.In conclusion, the Other OTC Pharmaceuticals market in Jordan is developing due to customer preferences for over-the-counter medications, trends in the market such as the demand for natural and herbal remedies, local special circumstances including a growing population and increased healthcare utilization, and underlying macroeconomic factors such as stable economic conditions and rising disposable incomes. These factors collectively contribute to the steady growth of this market in Jordan.
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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