Key regions: France, Australia, India, South Korea, Germany
The Other OTC Pharmaceuticals (Pharmacies) market in Seychelles has been experiencing significant growth in recent years.
Customer preferences: Customers in Seychelles have shown a preference for over-the-counter (OTC) pharmaceuticals, which are medications that can be purchased without a prescription. This preference can be attributed to several factors. Firstly, OTC medications are easily accessible and readily available in pharmacies across the country. Customers appreciate the convenience of being able to purchase these medications without having to visit a doctor or obtain a prescription. Additionally, OTC medications are often more affordable compared to prescription drugs, making them a popular choice among customers who are looking for cost-effective healthcare solutions.
Trends in the market: One of the key trends in the Other OTC Pharmaceuticals (Pharmacies) market in Seychelles is the increasing demand for vitamins and dietary supplements. Customers are becoming more health-conscious and are seeking ways to improve their overall well-being. As a result, there has been a surge in the sales of vitamins and dietary supplements in pharmacies. Customers are particularly interested in products that offer immune support, energy boost, and stress relief. The growing trend of self-care and preventive healthcare has also contributed to the rise in demand for these products. Another notable trend in the market is the increasing popularity of natural and herbal remedies. Customers are showing a preference for alternative medicine and are seeking natural solutions for their health issues. This trend can be attributed to the growing awareness of the potential side effects of conventional medications and a desire for more holistic approaches to healthcare. As a result, pharmacies in Seychelles are expanding their product offerings to include a wider range of natural and herbal remedies to cater to this demand.
Local special circumstances: Seychelles is a popular tourist destination, attracting visitors from around the world. This has a significant impact on the Other OTC Pharmaceuticals (Pharmacies) market in the country. Tourists often rely on pharmacies to purchase medications and healthcare products during their stay. As a result, pharmacies in Seychelles need to cater to the diverse needs of both locals and tourists. They stock a wide range of products to ensure that they can meet the demands of customers from different countries with varying healthcare requirements.
Underlying macroeconomic factors: The development of the Other OTC Pharmaceuticals (Pharmacies) market in Seychelles can be attributed to several underlying macroeconomic factors. Firstly, the country has experienced steady economic growth in recent years, leading to an increase in disposable income among the population. This has resulted in higher healthcare spending, including the purchase of OTC pharmaceuticals. Additionally, the government of Seychelles has implemented policies to improve access to healthcare services, including the availability of OTC medications. This has further fueled the growth of the market, as customers have easier access to the products they need. In conclusion, the Other OTC Pharmaceuticals (Pharmacies) market in Seychelles is developing due to customer preferences for accessible and affordable healthcare solutions, such as OTC medications. The market is also influenced by trends in the demand for vitamins and dietary supplements, as well as natural and herbal remedies. The special circumstances of Seychelles as a tourist destination also contribute to the growth of the market. Overall, the development of the market can be attributed to underlying macroeconomic factors, including economic growth and government policies to improve healthcare access.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
