Key regions: France, Australia, India, South Korea, Germany
The Other OTC Pharmaceuticals (Pharmacies) market in Kenya is experiencing significant growth and development.
Customer preferences: Customers in Kenya have shown a growing preference for over-the-counter (OTC) pharmaceutical products. This can be attributed to several factors, including the convenience of purchasing medication without a prescription and the increasing awareness of self-care and wellness. Customers are also attracted to the affordability and accessibility of OTC products, as they are readily available in local pharmacies and drugstores.
Trends in the market: One of the key trends in the Other OTC Pharmaceuticals (Pharmacies) market in Kenya is the increasing demand for herbal and traditional remedies. Kenyan consumers have a long-standing tradition of using herbal medicines for various ailments, and this trend has been further fueled by the growing interest in natural and alternative therapies. As a result, there has been a surge in the availability and popularity of herbal OTC products in the market. Another trend in the market is the rising demand for OTC products related to chronic conditions such as diabetes and hypertension. With the increasing prevalence of these conditions in Kenya, consumers are seeking OTC medications and supplements to manage their health on a daily basis. This trend is driven by the need for affordable and accessible treatment options, as well as the desire for greater control over one's health.
Local special circumstances: The Other OTC Pharmaceuticals (Pharmacies) market in Kenya is influenced by several local special circumstances. One of these is the role of traditional healers and herbalists in the healthcare system. Traditional medicine is deeply rooted in Kenyan culture, and many consumers still consult traditional healers for their healthcare needs. This has led to a unique market landscape where OTC pharmaceuticals and traditional remedies coexist. Another special circumstance is the presence of counterfeit and substandard pharmaceutical products in the market. This poses a significant challenge to the growth and development of the OTC Pharmaceuticals market in Kenya, as consumers may be wary of purchasing OTC products due to concerns about their safety and efficacy. Regulatory efforts are being made to address this issue and ensure the availability of high-quality OTC products in the market.
Underlying macroeconomic factors: Several underlying macroeconomic factors contribute to the development of the Other OTC Pharmaceuticals (Pharmacies) market in Kenya. One of these is the country's growing middle class and rising disposable incomes. As more Kenyans enter the middle-income bracket, they have greater purchasing power and are able to afford OTC pharmaceutical products. This has led to an increase in demand and the expansion of the market. Additionally, the government's focus on improving healthcare access and infrastructure has also contributed to the growth of the OTC Pharmaceuticals market. Efforts to strengthen the primary healthcare system and increase the availability of essential medicines have created a favorable environment for the OTC market to thrive. In conclusion, the Other OTC Pharmaceuticals (Pharmacies) market in Kenya is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for OTC products, particularly herbal remedies and those related to chronic conditions, is driving the market forward. However, challenges such as the presence of counterfeit products and the role of traditional healers need to be addressed to ensure the continued growth and success 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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