Pharmacies - Benelux | Statista Market Forecast

The Pharmacies market in Benelux is expected to witness significant growth in the coming years.
It is projected that the revenue in this market will reach US$15.13bn by 2024.
Furthermore, the market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 3.02% from 2024 to 2029, resulting in a market volume of US$17.56bn by the end of 2029.
When compared to other countries globally, United States is expected to generate the highest revenue in the Pharmacies market, reaching a staggering US$387.30bn in 2024.
This demonstrates the significant market potential and dominance of the United States in this industry.
Moreover, in terms of per person revenues, in the year 2024, each individual in Benelux is expected to generate US$503.50.
This indicates the contribution of the Pharmacies market to the overall economic landscape of the country.
In the Benelux region, pharmacies have seen a surge in demand for over-the-counter medications due to increasing health consciousness among the population.

Definition:
Pharmacies are physical or digital places where mainly pharmaceuticals and medical products are sold. Additionally, they also sell other items that are generally found in a pharmacy, such as food supplements, cosmetic products, and other health-related goods. A large proportion of pharmaceuticals are only available on prescription; the rest of the product range of pharmacies is sold over the counter (OTC). Besides selling products, pharmacies also advise customers, inform them about undesirable effects of the products, and detect possible interactions with other medicines.

Structure:
The Pharmacies market consists of two markets: Prescriptions Drugs and OTC Products. The Prescription Drugs market covers all products – mainly pharmaceuticals – that are only available on prescription. The OTC Products market comprises all products that are sold over the counter (OTC), including pharmaceuticals, medical devices, and other items that are generally found in a pharmacy.

Additional information:
The KPIs shown include revenue, revenue growth, average revenue per pharmacy, average revenue per capita, number of pharmacies, pharmacy density, users, and the online sales share for the OTC Products market. Revenues are generated through offline and online spending by (B2C) consumers and include VAT. B2B and B2G sales as well as other pharmaceutical sales through hospitals or retail stores, such as supermarkets, are not included.
For more information on the data displayed, use the info button next to the boxes.

Prescription pharmaceuticals
Prescription medical products
OTC pharmaceuticals
OTC medical products
Pharmacy-usual items

Services such as vaccinations
Sales through hospitals or retail stores

The Pharmacies market in Benelux is experiencing significant growth and development due to several factors.

Customer preferences: Customers in Benelux have a strong preference for accessible and convenient healthcare services. Pharmacies provide a wide range of products and services, including prescription medications, over-the-counter drugs, health and wellness products, and advice from trained pharmacists. Customers appreciate the convenience of being able to purchase medications and receive healthcare advice in one location, without the need for a doctor's appointment. In addition, many pharmacies in Benelux offer extended opening hours and online ordering options, further enhancing the convenience factor.

Trends in the market: One of the key trends in the Pharmacies market in Benelux is the increasing demand for personalized healthcare services. Customers are seeking more individualized advice and treatment options, and pharmacies are responding by offering services such as medication reviews, health screenings, and specialized consultations. This trend is driven by the growing awareness of the importance of preventive healthcare and the desire for personalized treatment plans. Another trend in the market is the integration of digital technology. Pharmacies in Benelux are leveraging technology to enhance the customer experience and streamline operations. For example, many pharmacies offer online prescription ordering and home delivery services, allowing customers to conveniently access their medications. Additionally, digital solutions are being used to improve medication management and adherence, with the development of mobile apps and smart devices.

Local special circumstances: One of the unique aspects of the Pharmacies market in Benelux is the strong emphasis on community healthcare. Pharmacies are often seen as a trusted healthcare resource within the community, and pharmacists play a vital role in providing healthcare advice and support. This community-focused approach is reflected in the services offered by pharmacies, such as medication reviews and health education programs. The close relationship between pharmacies and the local community contributes to the overall success and growth of the market in Benelux.

Underlying macroeconomic factors: The growth of the Pharmacies market in Benelux is also influenced by underlying macroeconomic factors. The Benelux region has a well-developed healthcare system and a high level of healthcare expenditure, which supports the demand for pharmacy services. Additionally, the aging population in Benelux is driving the need for healthcare services, including medication management and chronic disease management, which are key areas of focus for pharmacies. The increasing prevalence of chronic diseases and the rising healthcare costs further contribute to the growth of the Pharmacies market in Benelux, as pharmacies provide cost-effective solutions for managing these conditions. In conclusion, the Pharmacies market in Benelux is developing and growing due to customer preferences for accessible and convenient healthcare services, the increasing demand for personalized healthcare, the integration of digital technology, the strong emphasis on community healthcare, and underlying macroeconomic factors such as a well-developed healthcare system and an aging population. These factors contribute to the overall success and growth of the Pharmacies market in Benelux.

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.