Key regions: China, Europe, Australia, United States, Germany
The Other Pharmaceuticals market in G7 has been experiencing steady growth in recent years, driven by various factors such as an aging population, increasing prevalence of chronic diseases, and advancements in technology and research.
Customer preferences: Consumers in G7 countries have shown a growing interest in alternative and complementary medicines, leading to an increase in demand for Other Pharmaceuticals. Additionally, there is a rising trend towards self-medication and a preference for over-the-counter drugs, which has further boosted the growth of this market segment.
Trends in the market: In the United States, the Other Pharmaceuticals market has been growing steadily due to an increase in the number of people suffering from chronic diseases, such as diabetes and cardiovascular diseases. The market has also witnessed a rise in demand for natural and herbal supplements, as consumers become more health-conscious.In Japan, the Other Pharmaceuticals market has been driven by the country's rapidly aging population. There has been a growing demand for supplements that aim to improve cognitive function and memory, as well as those that help with joint health.In Germany, the market has seen a significant increase in demand for natural and homeopathic remedies. Consumers are increasingly turning to natural remedies for minor ailments and to support overall health and wellness.In France, the Other Pharmaceuticals market has been driven by an increase in demand for natural and organic products. Consumers are becoming more aware of the potential side effects of traditional medicines and are turning to natural remedies as a safer alternative.
Local special circumstances: Italy has a long-standing tradition of using natural remedies and herbal supplements. This has led to a significant market for Other Pharmaceuticals in the country, with consumers showing a preference for natural remedies over traditional medicines.Canada has a unique regulatory environment, with strict regulations governing the sale of natural health products. This has led to a smaller market for Other Pharmaceuticals in the country, as many natural remedies are classified as natural health products and subject to additional regulations.
Underlying macroeconomic factors: The Other Pharmaceuticals market in G7 is expected to continue growing as the population ages and the prevalence of chronic diseases increases. Additionally, advancements in technology and research are expected to drive innovation in the market, leading to the development of new and more effective products.However, the market may face challenges due to increasing competition from generic drugs and the rising cost of healthcare. Additionally, regulatory changes and uncertainty may impact the market, particularly in countries with strict regulations governing the sale of natural health products.
Data coverage:
Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. 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. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.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. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
