Key regions: United States, China, Germany, Japan, Europe
The Pharmacies market in Burundi is experiencing significant growth and development due to several key factors. Customer preferences are shifting towards a greater emphasis on healthcare and wellness, leading to an increased demand for pharmaceutical products and services. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the expansion of the Pharmacies market in Burundi.
Customer preferences: In recent years, there has been a growing awareness and concern for healthcare and wellness among consumers in Burundi. This shift in customer preferences is driving the demand for pharmaceutical products and services, including prescription medications, over-the-counter drugs, and healthcare consultations. Customers are increasingly seeking out pharmacies as a convenient and accessible source for their healthcare needs. They value the expertise and guidance provided by pharmacists in selecting the right medications and managing their health conditions.
Trends in the market: The Pharmacies market in Burundi is witnessing several trends that are shaping its growth. One notable trend is the increasing prevalence of chronic diseases, such as diabetes and hypertension, which require long-term medication management. This has led to a higher demand for prescription medications and regular pharmacy visits for patients to refill their prescriptions. Furthermore, the rising popularity of self-care and preventive healthcare practices has resulted in an increased demand for over-the-counter drugs, vitamins, and supplements. Another trend in the market is the growing adoption of e-commerce and online pharmacies. With the advancement of technology and the widespread use of smartphones, consumers are increasingly turning to online platforms to purchase their medications and healthcare products. Online pharmacies offer convenience, competitive pricing, and a wide range of products, attracting a significant customer base.
Local special circumstances: Burundi, being a low-income country, faces various challenges in the healthcare sector. Limited access to healthcare facilities, especially in rural areas, has resulted in an increased reliance on pharmacies for primary healthcare services. Pharmacies often serve as the first point of contact for individuals seeking medical advice and treatment. Additionally, the shortage of healthcare professionals, such as doctors and nurses, has further elevated the role of pharmacists in providing healthcare services.
Underlying macroeconomic factors: The growth of the Pharmacies market in Burundi is also influenced by underlying macroeconomic factors. The country has been experiencing steady economic growth, which has improved the purchasing power of consumers. As a result, people are more willing and able to spend on healthcare products and services. Furthermore, the government has been investing in the healthcare sector, focusing on improving access to healthcare services and promoting the development of the pharmaceutical industry. These efforts have created a favorable environment for the growth of the Pharmacies market. In conclusion, the Pharmacies market in Burundi is developing rapidly due to shifting customer preferences, including a greater emphasis on healthcare and wellness. The market is witnessing trends such as the increasing prevalence of chronic diseases and the adoption of e-commerce. Local special circumstances, such as limited access to healthcare facilities, further contribute to the growth of pharmacies. Underlying macroeconomic factors, including economic growth and government investments, also play a significant role in the expansion of the market. Overall, the Pharmacies market in Burundi is poised for continued growth in the coming years.
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.
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)
