Key regions: France, Australia, India, South Korea, Germany
The Other OTC Pharmaceuticals (Pharmacies) market in Ethiopia is experiencing steady growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Other OTC Pharmaceuticals (Pharmacies) market in Ethiopia are influenced by various factors. Firstly, there is a growing awareness and demand for self-medication among consumers. This is driven by the convenience and accessibility of over-the-counter pharmaceuticals, which allow individuals to treat common ailments without the need for a prescription or a visit to a healthcare professional. Additionally, there is a preference for natural and herbal remedies, as consumers in Ethiopia have a long-standing tradition of using traditional medicine. This preference for natural remedies is also influenced by cultural beliefs and practices. Trends in the market are also contributing to the development of the Other OTC Pharmaceuticals (Pharmacies) market in Ethiopia. One of the key trends is the increasing adoption of e-commerce and online pharmacies. This trend is driven by the growing internet penetration in the country, as well as the convenience and accessibility of online shopping. Online pharmacies provide consumers with a wide range of OTC pharmaceutical products, allowing them to compare prices and make informed purchasing decisions. This trend is expected to continue as more consumers embrace the convenience and benefits of online shopping. Another trend in the market is the expansion of retail pharmacy chains. This trend is driven by the increasing demand for OTC pharmaceuticals and the need for convenient access to these products. Retail pharmacy chains offer a wide range of OTC pharmaceuticals, as well as additional healthcare services such as health consultations and screenings. The expansion of retail pharmacy chains is also supported by the government's efforts to improve healthcare infrastructure and increase access to healthcare services in the country. Local special circumstances in Ethiopia also play a role in the development of the Other OTC Pharmaceuticals (Pharmacies) market. The country has a large rural population, with limited access to healthcare facilities. This creates a need for OTC pharmaceuticals that can be easily accessed and used without the need for professional medical advice. Additionally, the government has implemented policies to promote the local production of pharmaceutical products, which has led to the growth of domestic manufacturers and increased availability of locally produced OTC pharmaceuticals. Underlying macroeconomic factors also contribute to the development of the Other OTC Pharmaceuticals (Pharmacies) market in Ethiopia. The country has been experiencing sustained economic growth, which has led to an increase in disposable income and purchasing power. This has resulted in higher consumer spending on healthcare products, including OTC pharmaceuticals. Additionally, the government's focus on improving healthcare infrastructure and increasing access to healthcare services has created a favorable environment for the growth of the OTC Pharmaceuticals (Pharmacies) market. Overall, the Other OTC Pharmaceuticals (Pharmacies) market in Ethiopia is developing due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The growing demand for self-medication, the adoption of e-commerce and online pharmacies, the expansion of retail pharmacy chains, the need for accessible healthcare in rural areas, and the government's focus on healthcare infrastructure are all contributing to the growth and development of the 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.
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