Other OTC Pharmaceuticals (Pharmacies) - Bahrain

Bahrain

Highlights

Revenue in the Other OTC Pharmaceuticals market is projected to reach US$33.31m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.10%, resulting in a market volume of US$35.19m by 2029.
In global comparison, most revenue will be generated United States (US$4.98bn in 2024).
In relation to total population figures, per person revenues of US$22.23 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Other OTC Pharmaceuticals (Pharmacies) market in Bahrain is experiencing steady growth due to various factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the development of this market. Customer preferences play a crucial role in the growth of the Other OTC Pharmaceuticals (Pharmacies) market in Bahrain. Consumers in Bahrain have shown a preference for self-medication and over-the-counter products for common ailments. This preference can be attributed to factors such as convenience, accessibility, and cost-effectiveness. Customers often opt for OTC pharmaceuticals as a first line of treatment for minor health issues, such as headaches, colds, and allergies. The demand for these products is further fueled by the increasing awareness and knowledge among consumers about the availability and benefits of OTC medications. Trends in the market also contribute to the growth of the Other OTC Pharmaceuticals (Pharmacies) market in Bahrain. One notable trend is the increasing popularity of natural and herbal remedies. Consumers are becoming more conscious of the ingredients in the products they use and are seeking alternatives to synthetic medications. This trend has led to the introduction of a wide range of natural and herbal OTC pharmaceuticals in the market. Additionally, the rising demand for preventive healthcare products, such as vitamins and supplements, is driving the growth of the market. Local special circumstances in Bahrain have an impact on the development of the Other OTC Pharmaceuticals (Pharmacies) market. The country has a well-established healthcare system with a strong emphasis on primary healthcare. Pharmacies in Bahrain play a vital role in providing accessible healthcare services to the population. They serve as a primary point of contact for individuals seeking medical advice and treatment for minor health issues. The presence of a large number of pharmacies, both independent and chain stores, ensures easy availability of OTC pharmaceuticals to the consumers. Underlying macroeconomic factors also contribute to the growth of the Other OTC Pharmaceuticals (Pharmacies) market in Bahrain. The country has a stable economy with a high per capita income. This enables consumers to afford OTC medications and contributes to the overall demand for these products. Additionally, the government of Bahrain has implemented policies and regulations to ensure the quality and safety of OTC pharmaceuticals. This regulatory framework provides a favorable environment for the growth of the market and instills confidence in consumers regarding the efficacy and safety of the products. In conclusion, the Other OTC Pharmaceuticals (Pharmacies) market in Bahrain is developing steadily due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The preference for self-medication, the popularity of natural and herbal remedies, the accessibility of pharmacies, and the stable economy all contribute to the growth of this 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.