Key regions: France, Australia, India, South Korea, Germany
The Other OTC Pharmaceuticals (Pharmacies) market in Kazakhstan is experiencing significant growth and development.
Customer preferences: Kazakhstani consumers are increasingly turning to over-the-counter (OTC) pharmaceuticals as a convenient and accessible option for managing their healthcare needs. The rising awareness and acceptance of self-medication among the population is driving the demand for OTC products. Additionally, the affordability and availability of these products in local pharmacies make them a preferred choice for minor ailments and common health issues.
Trends in the market: One of the key trends in the Other OTC Pharmaceuticals (Pharmacies) market in Kazakhstan is the growing demand for natural and herbal remedies. Consumers are becoming more inclined towards products that are perceived to be safer and have fewer side effects. This shift towards natural remedies is driven by a desire for holistic healthcare and a preference for traditional medicine. As a result, pharmacies are expanding their product offerings to include a wider range of natural and herbal OTC products. Another trend in the market is the increasing use of online platforms for purchasing OTC pharmaceuticals. The convenience and ease of online shopping, coupled with the availability of a wide range of products, have attracted a significant number of consumers to online pharmacies. This trend is particularly prominent among the younger generation who are tech-savvy and prefer the convenience of home delivery. As a result, traditional brick-and-mortar pharmacies are adapting to this trend by establishing their online presence and offering delivery services.
Local special circumstances: Kazakhstan's healthcare system has undergone significant reforms in recent years, resulting in increased access to healthcare services for the population. The government has made efforts to improve the availability and affordability of healthcare, which has had a positive impact on the OTC pharmaceutical market. The expansion of healthcare infrastructure, including the establishment of new pharmacies in rural areas, has contributed to the growth of the market.
Underlying macroeconomic factors: Kazakhstan's growing economy and rising disposable incomes are contributing to the development of the Other OTC Pharmaceuticals (Pharmacies) market. As the population's purchasing power increases, they are more willing to spend on healthcare products, including OTC pharmaceuticals. Moreover, the government's focus on promoting a healthy lifestyle and preventive healthcare has created a favorable environment for the market's growth. In conclusion, the Other OTC Pharmaceuticals (Pharmacies) market in Kazakhstan is witnessing significant growth and development due to customer preferences for convenient and accessible healthcare options, such as OTC products. The trends of increasing demand for natural remedies and the rise of online shopping for OTC pharmaceuticals are shaping the market. The local special circumstances, including healthcare reforms and improved access to healthcare services, are also contributing to the market's growth. Furthermore, underlying macroeconomic factors, such as the country's growing economy and rising disposable incomes, are fueling the market's 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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