Key regions: France, Australia, India, South Korea, Germany
The Other OTC Pharmaceuticals (Pharmacies) market in Gabon is experiencing significant growth and development.
Customer preferences: Gabonese consumers have shown a growing preference for over-the-counter (OTC) pharmaceutical products in recent years. This can be attributed to several factors, including the convenience and accessibility of purchasing these products without a prescription. Additionally, the increasing awareness of self-medication and the desire for immediate relief from common ailments have also contributed to the rise in demand for OTC pharmaceuticals.
Trends in the market: One of the key trends in the Gabonese OTC pharmaceutical market is the increasing availability and variety of products. Pharmacies in Gabon are expanding their product offerings to cater to the diverse needs of consumers. This includes a wide range of OTC medicines for common ailments such as headaches, colds, and allergies, as well as products for skincare, oral care, and nutritional supplements. Furthermore, there is a growing trend towards natural and herbal remedies, as consumers seek more holistic and organic options for their healthcare needs.
Local special circumstances: Gabon's healthcare system is characterized by a shortage of healthcare professionals and limited access to healthcare facilities, particularly in rural areas. As a result, many Gabonese rely heavily on pharmacies as their primary source of healthcare. Pharmacies play a crucial role in providing healthcare advice, guidance, and access to essential medicines. This has contributed to the significant growth of the OTC pharmaceutical market in Gabon, as consumers turn to pharmacies for their healthcare needs.
Underlying macroeconomic factors: The development of the OTC pharmaceutical market in Gabon is also influenced by several underlying macroeconomic factors. The country's stable economic growth and increasing disposable income have allowed consumers to allocate more of their budget towards healthcare products. Additionally, the urbanization and modernization of Gabonese society have led to lifestyle changes, including increased stress levels and exposure to environmental factors, resulting in a higher demand for OTC pharmaceuticals. In conclusion, the Other OTC Pharmaceuticals (Pharmacies) market in Gabon is witnessing significant growth and development, driven by customer preferences for convenient and accessible healthcare solutions. The increasing availability and variety of OTC pharmaceutical products, as well as the role of pharmacies as primary healthcare providers, are key trends in the market. The local special circumstances, such as the shortage of healthcare professionals and limited access to healthcare facilities, further contribute to the reliance on pharmacies. Additionally, underlying macroeconomic factors, including stable economic growth and increasing disposable income, play a role in driving the growth 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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