Key regions: France, Australia, India, South Korea, Germany
The Other OTC Pharmaceuticals (Pharmacies) market in Lebanon has been experiencing steady growth in recent years.
Customer preferences: Customers in Lebanon have shown a growing preference for over-the-counter (OTC) pharmaceutical products. This can be attributed to several factors, including the convenience and accessibility of these products. OTC medications are readily available in local pharmacies, allowing consumers to easily purchase them without a prescription. Additionally, customers appreciate the affordability of OTC medications compared to prescription drugs. This preference for OTC pharmaceuticals is not unique to Lebanon, as it is a global trend driven by the increasing focus on self-care and the desire for immediate relief from common ailments.
Trends in the market: One notable trend in the Other OTC Pharmaceuticals (Pharmacies) market in Lebanon is the increasing demand for vitamins and dietary supplements. Lebanese consumers are becoming more health-conscious and are actively seeking products that can support their overall well-being. Vitamins and dietary supplements offer a convenient way for individuals to bridge any nutritional gaps in their diet and maintain good health. The market has responded to this trend by offering a wide range of vitamin and supplement options to cater to different customer needs. Another trend in the market is the growing popularity of natural and herbal OTC remedies. Many Lebanese consumers are turning to traditional remedies and natural ingredients for the treatment of common ailments. This shift towards natural products is driven by a desire for safer and more sustainable alternatives to conventional pharmaceuticals. As a result, pharmacies in Lebanon are expanding their product offerings to include a variety of natural and herbal remedies.
Local special circumstances: Lebanon has a well-established pharmacy sector, with a high density of pharmacies per capita. This allows for easy access to OTC pharmaceuticals across the country. Additionally, the Lebanese government has implemented regulations to ensure the quality and safety of OTC medications, which further boosts consumer confidence in these products.
Underlying macroeconomic factors: The growth of the Other OTC Pharmaceuticals (Pharmacies) market in Lebanon is also influenced by macroeconomic factors. Despite the challenging economic conditions in the country, the healthcare sector has remained resilient. The demand for affordable healthcare options, including OTC pharmaceuticals, has remained strong. Furthermore, the Lebanese population has a relatively high level of healthcare expenditure, indicating a willingness to invest in personal health and well-being. In conclusion, the Other OTC Pharmaceuticals (Pharmacies) market in Lebanon is developing due to customer preferences for convenience, affordability, and self-care. The increasing demand for vitamins and dietary supplements, as well as natural and herbal remedies, reflects a growing interest in health and wellness among Lebanese consumers. The local special circumstances, such as the high density of pharmacies and government regulations, contribute to the growth of the market. Additionally, underlying macroeconomic factors, such as healthcare expenditure and the resilience of the healthcare sector, support the development of the market in Lebanon.
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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