Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in Iraq has been developing steadily in recent years, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: In Iraq, customers have shown a growing preference for analgesics purchased from pharmacies. This can be attributed to several reasons. Firstly, pharmacies are easily accessible to the general population, making it convenient for customers to purchase analgesics when needed. Secondly, customers trust the quality and authenticity of the products sold in pharmacies, as they are regulated by the local health authorities. Thirdly, pharmacies often provide professional advice and recommendations to customers, which enhances the overall customer experience and satisfaction.
Trends in the market: One notable trend in the Analgesics (Pharmacies) market in Iraq is the increasing demand for over-the-counter (OTC) analgesics. OTC analgesics are medications that can be purchased without a prescription, and they are gaining popularity among customers due to their convenience and affordability. This trend is driven by the rising awareness of self-medication and the availability of a wide range of OTC analgesics in pharmacies. Customers are increasingly seeking quick relief from common ailments such as headaches, muscle pain, and fever, and OTC analgesics provide a convenient solution. Another trend in the market is the growing demand for natural and herbal analgesics. Customers are becoming more conscious about the potential side effects of traditional analgesics and are turning to natural alternatives. This trend is aligned with the global shift towards natural and holistic healthcare solutions. Pharmacies in Iraq are now offering a range of natural and herbal analgesics to cater to this growing customer demand.
Local special circumstances: Iraq has faced significant challenges in its healthcare system due to years of conflict and instability. However, the Analgesics (Pharmacies) market has managed to thrive despite these challenges. This can be attributed to the resilience and adaptability of the local pharmacies. Pharmacies in Iraq have been able to maintain a steady supply of analgesics, ensuring that customers have access to the medications they need. Additionally, the presence of a large number of pharmacies across the country has contributed to the accessibility of analgesics for the general population.
Underlying macroeconomic factors: The development of the Analgesics (Pharmacies) market in Iraq is also influenced by underlying macroeconomic factors. The country has experienced economic growth in recent years, leading to an increase in disposable income among the population. This has resulted in higher healthcare expenditure, including the purchase of analgesics. Furthermore, the government has implemented policies to improve the healthcare system, which has indirectly benefited the Analgesics (Pharmacies) market. These factors have created a favorable environment for the growth and development of the market in Iraq. In conclusion, the Analgesics (Pharmacies) market in Iraq is developing due to customer preferences for pharmacy purchases, trends such as the demand for OTC and natural analgesics, local special circumstances that have fostered the resilience of pharmacies, and underlying macroeconomic factors that have contributed to increased healthcare expenditure.
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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