Key regions: China, Europe, Australia, United States, Germany
The Other Pharmaceuticals market in Nordics has been experiencing significant growth in recent years.
Customer preferences: The Nordics region is known for its high healthcare standards and the population's high awareness of health and wellness. Customers in Nordics prefer to use natural and organic products and are willing to pay a premium for them. This preference for natural products has led to an increase in demand for alternative medicines and therapies, which has contributed to the growth of the Other Pharmaceuticals market.
Trends in the market: The Other Pharmaceuticals market in Nordics has been growing due to various factors. One of the main drivers of growth is the increasing demand for alternative medicines and therapies. The market has also been driven by the increasing prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases. The aging population in the region has also contributed to the growth of the market, as older individuals tend to require more medication and healthcare services.
Local special circumstances: The Nordics region has a unique healthcare system that is publicly funded and provides universal access to healthcare services. This system has contributed to the growth of the Other Pharmaceuticals market, as individuals are more likely to seek medical treatment when it is readily available and affordable. Additionally, the region has a strong focus on research and development, which has led to the development of innovative pharmaceutical products.
Underlying macroeconomic factors: The Nordics region has a strong economy and a high standard of living, which has contributed to the growth of the Other Pharmaceuticals market. The region's healthcare system is publicly funded, which means that individuals have access to healthcare services regardless of their ability to pay. This has led to a high demand for healthcare services and pharmaceutical products. Additionally, the region has a highly educated population, which has contributed to the growth of the market as individuals are more likely to seek out and use pharmaceutical 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)
