Pharmacies - Czechia | Statista Market Forecast

In Czechia, the revenue in the Pharmacies market is projected to reach US$4.91bn in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 3.73%, resulting in a market volume of US$5.89bn by 2029.
When compared globally, United States is expected to generate the most revenue in the Pharmacies market, reaching US$387.30bn in 2024.
In terms of per person revenues, in Czechia, each individual is projected to generate US$467.20 in 2024.
The pharmacy market in Czechia is experiencing a surge in demand for natural and alternative remedies.

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.
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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 Czechia has been experiencing significant growth over the past few years.

Customer preferences: Customers in Czechia have shown a growing preference for pharmacies due to their convenient location, wide range of products, and professional advice provided by pharmacists. Pharmacies in Czechia offer a variety of prescription and over-the-counter medications, as well as health and wellness products. Customers appreciate the accessibility of pharmacies, as they are often located within walking distance of residential areas and have extended operating hours. Additionally, many pharmacies offer online services, allowing customers to order medications and healthcare products from the comfort of their own homes.

Trends in the market: One of the key trends in the Pharmacies market in Czechia is the increasing demand for preventive healthcare products and services. With a growing emphasis on personal health and wellness, customers are seeking out pharmacies for products such as vitamins, supplements, and natural remedies. Pharmacies have responded to this trend by expanding their product offerings to include a wider range of preventive healthcare options. Furthermore, pharmacies in Czechia are increasingly offering additional services such as health screenings, vaccinations, and consultations with pharmacists to meet the evolving needs of their customers.

Local special circumstances: The Pharmacies market in Czechia is characterized by a high level of competition. There are numerous pharmacy chains operating in the country, as well as independent pharmacies. This competitive landscape has led to a focus on customer service and innovation in order to attract and retain customers. Pharmacies in Czechia strive to differentiate themselves by offering personalized advice, loyalty programs, and convenient services such as home delivery.

Underlying macroeconomic factors: The growth of the Pharmacies market in Czechia can be attributed to several underlying macroeconomic factors. Firstly, the country has a well-developed healthcare system, which includes a strong network of pharmacies. The government's focus on healthcare and accessibility to medications has contributed to the growth of the market. Additionally, the aging population in Czechia has increased the demand for healthcare products and services, including medications. This demographic shift has created a larger customer base for pharmacies and is expected to continue driving market growth in the future. In conclusion, the Pharmacies market in Czechia is experiencing significant growth due to customer preferences for convenient locations, a wide range of products, and professional advice. The market is characterized by a focus on preventive healthcare products and services, as well as a high level of competition. The underlying macroeconomic factors, including a well-developed healthcare system and an aging population, are contributing to the growth of the market.

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.