Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in Bhutan has been experiencing steady growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to the development of this market. Customer preferences in Bhutan have played a significant role in shaping the growth of the Analgesics (Pharmacies) market. Bhutanese consumers have shown a growing demand for over-the-counter analgesics due to increasing awareness of self-medication and the convenience of purchasing these products from pharmacies. The preference for analgesics in Bhutan is also influenced by the cultural belief in traditional medicine, which often includes the use of herbal remedies for pain relief. However, the convenience and effectiveness of modern analgesics have led to a shift in consumer preferences towards these products. Trends in the market have further fueled the growth of the Analgesics (Pharmacies) market in Bhutan. The increasing prevalence of chronic diseases and lifestyle-related ailments has resulted in a higher demand for pain relief medication. Bhutan has been experiencing a rise in urbanization and sedentary lifestyles, leading to an increase in musculoskeletal disorders and other conditions that require analgesics. Additionally, the aging population in Bhutan has contributed to the growth of the market, as older individuals are more likely to require pain relief medication. Local special circumstances in Bhutan have also influenced the development of the Analgesics (Pharmacies) market. The limited availability of healthcare facilities in rural areas has led to a higher reliance on pharmacies for basic healthcare needs, including pain relief medication. Pharmacies in Bhutan have become key healthcare providers, offering a range of over-the-counter analgesics to meet the growing demand. The government of Bhutan has also taken initiatives to promote the availability and accessibility of healthcare services, which has further contributed to the development of the market. Underlying macroeconomic factors have played a role in the growth of the Analgesics (Pharmacies) market in Bhutan. The country's stable economic growth and increasing disposable income have resulted in higher healthcare spending, including the purchase of analgesics. Bhutan's healthcare system has also undergone significant improvements, with increased investment in healthcare infrastructure and the availability of a wider range of pharmaceutical products. These factors have created a favorable environment for the growth of the Analgesics (Pharmacies) market in Bhutan. In conclusion, the Analgesics (Pharmacies) market in Bhutan has experienced steady growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for over-the-counter analgesics, driven by consumer preferences and the rise in chronic diseases, has contributed to the development of the market. The limited availability of healthcare facilities in rural areas and the government's initiatives to promote healthcare services have also played a role. Furthermore, Bhutan's stable economic growth and increasing disposable income have created a favorable environment for 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.
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