Key regions: France, Australia, India, South Korea, Germany
The Other OTC Pharmaceuticals (Pharmacies) market in CIS is experiencing significant growth and development.
Customer preferences: Customers in the CIS region have shown a growing preference for over-the-counter (OTC) pharmaceutical products. This can be attributed to several factors, including the increasing awareness and acceptance of self-medication, convenience, and affordability. OTC products are easily accessible in pharmacies and do not require a prescription, making them a popular choice among consumers.
Trends in the market: One of the key trends in the Other OTC Pharmaceuticals (Pharmacies) market in the CIS region is the increasing demand for vitamins and dietary supplements. Consumers are becoming more health-conscious and are seeking products that can help improve their overall well-being. This trend is driven by factors such as changing lifestyles, rising disposable incomes, and a growing aging population. Another trend in the market is the growing popularity of herbal and natural remedies. Consumers are increasingly turning to alternative medicine and seeking products that are perceived to be more natural and holistic. This trend is influenced by a desire for safer and more sustainable healthcare options.
Local special circumstances: The CIS region is characterized by a diverse population with varying healthcare needs and preferences. Each country within the region has its own unique cultural and regulatory environment, which impacts the availability and usage of OTC pharmaceuticals. For example, some countries have stricter regulations on the sale and distribution of certain OTC products, while others have more lenient regulations.
Underlying macroeconomic factors: The development of the Other OTC Pharmaceuticals (Pharmacies) market in the CIS region can be attributed to several underlying macroeconomic factors. Firstly, the region has been experiencing steady economic growth, which has led to an increase in disposable incomes and consumer spending power. This has resulted in higher demand for healthcare products and services, including OTC pharmaceuticals. Furthermore, the aging population in the CIS region is driving the demand for OTC pharmaceuticals. As the population ages, there is a greater need for products that can help manage chronic conditions and promote overall health and well-being. This demographic trend is expected to continue in the coming years, further fueling the growth of the market. In conclusion, the Other OTC Pharmaceuticals (Pharmacies) market in the CIS region is developing due to customer preferences for self-medication, the growing demand for vitamins and dietary supplements, and the popularity of herbal and natural remedies. The diverse cultural and regulatory environment within the region, along with underlying macroeconomic factors such as economic growth and an aging population, are also contributing to the market's growth and development.
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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