Key regions: China, Europe, Australia, United States, Germany
Jordan, a country in the Middle East, has been experiencing a steady growth in the Other Pharmaceuticals market. This market segment includes all pharmaceutical products that are not classified as drugs, such as vitamins, dietary supplements, and herbal medicines.
Customer preferences: Jordanians have been increasingly interested in alternative medicine and natural remedies, which has led to a surge in demand for Other Pharmaceuticals. In addition, the country has a young population, with a median age of 23 years, who are more likely to be health-conscious and interested in preventative healthcare.
Trends in the market: The Other Pharmaceuticals market in Jordan has been growing due to a number of factors. Firstly, the government has been encouraging the use of alternative medicine and natural remedies as a way to reduce healthcare costs. Secondly, the rise of e-commerce platforms has made it easier for consumers to access and purchase these products. Finally, there has been an increase in the number of pharmacies and health stores that offer a wide range of Other Pharmaceuticals.
Local special circumstances: Jordan has a well-developed pharmaceutical industry, which has helped to support the growth of the Other Pharmaceuticals market. The country has a number of pharmaceutical manufacturers that produce high-quality products, which has helped to build trust in the industry. Additionally, Jordan has a strong regulatory framework for pharmaceuticals, which has helped to ensure the safety and efficacy of the products.
Underlying macroeconomic factors: The growth of the Other Pharmaceuticals market in Jordan is also influenced by macroeconomic factors. The country has a relatively stable economy, with a GDP growth rate of 2.3% in 2020. This has helped to support consumer spending on healthcare products. Additionally, the country has a high level of healthcare expenditure, which has helped to create a favorable environment for the pharmaceutical industry. Finally, Jordan has a strategic location in the Middle East, which has helped to attract investment and trade in the healthcare sector.
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.
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