Key regions: France, Australia, India, South Korea, Germany
The Other OTC Pharmaceuticals (Pharmacies) market in Eastern Africa is experiencing significant growth and development due to various factors. Customer preferences in the region play a crucial role in shaping the market. Consumers in Eastern Africa have shown a growing demand for over-the-counter pharmaceutical products. This can be attributed to several factors, including the increasing awareness about self-medication, the convenience of purchasing medications without a prescription, and the affordability of OTC products compared to prescription drugs. Additionally, the rise in chronic diseases and the need for easily accessible healthcare solutions have also contributed to the growing demand for OTC pharmaceuticals in the region. Trends in the market indicate a shift towards a wider range of OTC products being made available to consumers. Previously, the market was dominated by basic medications such as pain relievers, cough and cold remedies, and antacids. However, there has been a noticeable expansion in the product offerings, with the introduction of more specialized OTC medications targeting specific health conditions. This includes products for allergies, digestive health, skincare, and vitamins and supplements. This trend is driven by the increasing demand for preventive healthcare and wellness products among consumers in Eastern Africa. Local special circumstances in Eastern Africa also contribute to the development of the Other OTC Pharmaceuticals (Pharmacies) market. The region has a growing middle class population, which has led to an increase in disposable income and purchasing power. As a result, consumers are more willing to spend on healthcare products, including OTC pharmaceuticals. Furthermore, the rapid urbanization and improved healthcare infrastructure in the region have made healthcare products more accessible to a larger population. Pharmacies and drugstores are becoming more prevalent across Eastern Africa, providing consumers with convenient access to OTC medications. Underlying macroeconomic factors also play a role in the growth of the Other OTC Pharmaceuticals (Pharmacies) market in Eastern Africa. The region has been experiencing stable economic growth, which has contributed to an overall improvement in living standards and healthcare services. Additionally, the increasing investment in the healthcare sector by both public and private entities has resulted in better healthcare facilities and services, including the availability of a wider range of OTC pharmaceutical products. In conclusion, the Other OTC Pharmaceuticals (Pharmacies) market in Eastern Africa is developing and expanding due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The growing demand for OTC pharmaceuticals, the introduction of specialized products, the rise of the middle class, improved healthcare infrastructure, and stable economic growth are all contributing to the positive growth trajectory of the market in the region.
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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