Key regions: France, Australia, India, South Korea, Germany
The Other OTC Pharmaceuticals (Pharmacies) market in Baltics has been experiencing steady growth in recent years, driven by customer preferences for self-medication, increasing health awareness, and a growing aging population. Customer preferences in the Baltics have shifted towards self-medication, as consumers seek convenience and cost-effective solutions for minor health issues. This trend is influenced by the availability of a wide range of OTC pharmaceutical products in pharmacies, which allows consumers to treat common ailments without the need for a doctor's prescription. Additionally, the rising health consciousness among consumers has led to an increased demand for preventive healthcare products, such as vitamins and dietary supplements. Trends in the market indicate that the Baltics are following the global pattern of increasing OTC pharmaceutical sales. This can be attributed to several factors, including the growing aging population in the region. As people age, they tend to require more medications to manage chronic conditions and alleviate age-related ailments. This has led to a higher demand for OTC pharmaceuticals in pharmacies across the Baltics. Furthermore, the local special circumstances in the Baltics have contributed to the development of the Other OTC Pharmaceuticals (Pharmacies) market. The region has a well-established healthcare system, with a strong network of pharmacies that provide easy access to OTC pharmaceutical products. Additionally, the Baltics have a high level of internet penetration, which has facilitated the growth of e-commerce in the healthcare sector. This has allowed consumers to conveniently purchase OTC pharmaceuticals online, further boosting market growth. Underlying macroeconomic factors have also played a role in the development of the Other OTC Pharmaceuticals (Pharmacies) market in the Baltics. The region has experienced stable economic growth in recent years, which has increased disposable incomes and consumer spending power. As a result, consumers are more willing to invest in their health and purchase OTC pharmaceutical products. Additionally, the Baltics have a strong pharmaceutical industry, with local manufacturers producing a wide range of OTC products. This has not only ensured a steady supply of OTC pharmaceuticals but has also created employment opportunities and contributed to the overall economic development of the region. In conclusion, the Other OTC Pharmaceuticals (Pharmacies) market in the Baltics is developing due to customer preferences for self-medication, increasing health awareness, and a growing aging population. The region's well-established healthcare system, high internet penetration, stable economy, and strong pharmaceutical industry have also contributed to market growth. As these trends continue, the Baltics are expected to witness further expansion in the Other OTC Pharmaceuticals (Pharmacies) 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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
