Key regions: France, Australia, India, South Korea, Germany
The Other OTC Pharmaceuticals (Pharmacies) market in Slovakia is experiencing steady growth due to changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Other OTC Pharmaceuticals (Pharmacies) market in Slovakia are shifting towards a greater emphasis on self-care and preventive healthcare. Consumers are becoming more proactive in managing their health and are seeking non-prescription medications to treat minor ailments. This preference for self-care is driven by factors such as increasing healthcare costs, limited access to healthcare professionals, and a desire for convenience. As a result, there is a growing demand for over-the-counter medications in Slovakia. Trends in the market are also contributing to the development of the Other OTC Pharmaceuticals (Pharmacies) market in Slovakia. One key trend is the increasing availability and popularity of online pharmacies. Online pharmacies offer a wide range of over-the-counter medications and provide convenience and accessibility to consumers. This trend is particularly prominent in urban areas where consumers have access to high-speed internet and are comfortable with online shopping. Additionally, the rise of e-commerce platforms has made it easier for consumers to compare prices and find the best deals on over-the-counter medications. Another trend in the market is the growing focus on natural and herbal remedies. Consumers are becoming more conscious of the potential side effects of traditional medications and are seeking alternative options. This trend is driven by a desire for more natural and holistic approaches to healthcare. As a result, there is an increasing demand for herbal supplements and natural remedies in the Other OTC Pharmaceuticals (Pharmacies) market in Slovakia. Local special circumstances also play a role in the development of the Other OTC Pharmaceuticals (Pharmacies) market in Slovakia. The country has a well-developed healthcare system with a high level of accessibility to pharmacies. Pharmacies in Slovakia are widely distributed, making it easy for consumers to access over-the-counter medications. Additionally, the government has implemented policies to promote the use of generic drugs, which are typically more affordable than brand-name medications. This has further contributed to the growth of the Other OTC Pharmaceuticals (Pharmacies) market in Slovakia. Underlying macroeconomic factors also influence the development of the Other OTC Pharmaceuticals (Pharmacies) market in Slovakia. The country has a stable economy with a growing middle class, which has led to an increase in disposable income. As a result, consumers have more purchasing power and are able to afford over-the-counter medications. Additionally, the aging population in Slovakia is driving demand for over-the-counter medications to manage chronic conditions and age-related health issues. Overall, the Other OTC Pharmaceuticals (Pharmacies) market in Slovakia is developing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards self-care, the popularity of online pharmacies, the focus on natural remedies, the accessibility of pharmacies, and the stable economy all contribute to 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.
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)
