Key regions: Europe, Australia, United Kingdom, Germany, South Korea
The OTC Products (Pharmacies) market in D-A-CH, consisting of Germany, Austria, and Switzerland, is experiencing significant growth and development.
Customer preferences: Customers in the D-A-CH region have shown a strong preference for purchasing over-the-counter (OTC) products from pharmacies. This preference can be attributed to the trust and reliability associated with pharmacies, as well as the convenience of accessing a wide range of OTC products in one location. Additionally, customers in this region value the professional advice and guidance provided by pharmacists when selecting OTC products.
Trends in the market: One noticeable trend in the OTC Products (Pharmacies) market in D-A-CH is the increasing demand for natural and herbal remedies. Customers are becoming more conscious of their health and are seeking alternative treatments that are perceived as safer and more sustainable. This trend is driving the growth of natural and herbal OTC products in pharmacies, as customers are willing to pay a premium for these products. Another trend in the market is the growing popularity of OTC products for preventive healthcare. Customers in D-A-CH are increasingly proactive about maintaining their health and preventing illnesses. As a result, there is a rising demand for OTC products such as vitamins, supplements, and preventive medications. Pharmacies are capitalizing on this trend by expanding their range of preventive healthcare products and providing personalized advice to customers.
Local special circumstances: In Germany, the OTC Products (Pharmacies) market is heavily regulated, with strict rules and regulations governing the sale of OTC products. This has created a high level of trust and confidence among customers, as they can be assured of the quality and safety of the products they purchase from pharmacies. Additionally, pharmacies in Germany are known for their comprehensive range of OTC products, making them a one-stop destination for customers. In Austria, pharmacies play a crucial role in the healthcare system, as they are the primary point of contact for customers seeking medical advice and OTC products. Pharmacies in Austria are known for their personalized service and expert advice, which has contributed to the strong customer loyalty in the market. Furthermore, the government in Austria has implemented measures to promote the use of OTC products as a cost-effective alternative to prescription medications, further driving the demand in this market. In Switzerland, the OTC Products (Pharmacies) market is characterized by a high level of competition. Customers have a wide range of options when it comes to purchasing OTC products, including pharmacies, supermarkets, and online retailers. To stay competitive, pharmacies in Switzerland have focused on providing additional services such as health screenings, medication reviews, and home delivery. These value-added services have helped pharmacies differentiate themselves and attract customers.
Underlying macroeconomic factors: The growth of the OTC Products (Pharmacies) market in D-A-CH can be attributed to several underlying macroeconomic factors. Firstly, the increasing healthcare expenditure in the region has led to a greater emphasis on self-care and preventive healthcare. Customers are willing to spend more on OTC products to maintain their health and well-being. Additionally, the aging population in D-A-CH has created a growing demand for OTC products that cater to the specific needs of seniors, such as joint supplements and pain relievers. Finally, the rising disposable income in the region has enabled customers to afford OTC products, even at a premium price.
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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