Key regions: Europe, Australia, United Kingdom, Germany, South Korea
The OTC Products (Pharmacies) market in Mauritius has been experiencing significant growth in recent years. This can be attributed to several factors, including changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Mauritius have shifted towards self-medication and a focus on preventive healthcare. Consumers are increasingly seeking over-the-counter (OTC) products that can help them manage common ailments and maintain their overall well-being. This shift in preference is driven by factors such as convenience, affordability, and a desire for more control over one's healthcare choices. One of the key trends in the OTC Products market in Mauritius is the growing demand for natural and herbal remedies. Consumers are becoming more conscious of the potential side effects of synthetic medications and are turning to alternative options. This trend is reflected in the increasing availability of herbal supplements, homeopathic remedies, and traditional medicines in pharmacies across the country. Another trend in the market is the rising popularity of online pharmacies. With the advent of e-commerce platforms, consumers now have the option to purchase OTC products online and have them delivered to their doorstep. This convenience factor, coupled with competitive pricing and a wider product selection, has contributed to the growth of online pharmacies in Mauritius. Local special circumstances also play a role in the development of the OTC Products market in Mauritius. The country has a well-established healthcare system with a high level of accessibility to pharmacies. This, coupled with a growing population and increasing healthcare awareness, has created a conducive environment for the expansion of the OTC Products market. Underlying macroeconomic factors, such as GDP growth, disposable income levels, and healthcare expenditure, also contribute to the development of the OTC Products market in Mauritius. As the economy continues to grow and disposable incomes rise, consumers have more purchasing power to spend on healthcare products. Additionally, the government's focus on improving healthcare infrastructure and promoting preventive healthcare further supports the growth of the OTC Products market. In conclusion, the OTC Products market in Mauritius is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards self-medication, the demand for natural remedies, the rise of online pharmacies, and the country's well-established healthcare system are all contributing to the development of this market. With the continued focus on healthcare and the improving economic conditions, the OTC Products market in Mauritius is expected to continue its growth trajectory 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.
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