Key regions: France, Australia, India, South Korea, Germany
The Other OTC Pharmaceuticals (Pharmacies) market in Southeast Asia is experiencing significant growth and development due to several factors.
Customer preferences: Customers in Southeast Asia have shown a growing preference for over-the-counter (OTC) pharmaceutical products. This can be attributed to the convenience and accessibility of these products, as they can be purchased without a prescription. Additionally, customers in this region often rely on self-medication for minor ailments and prefer to seek immediate relief through OTC medications.
Trends in the market: One of the key trends in the Other OTC Pharmaceuticals (Pharmacies) market in Southeast Asia is the increasing demand for vitamins and dietary supplements. This can be attributed to the growing health consciousness among consumers, who are seeking to maintain a healthy lifestyle and prevent illness. Additionally, there is a rising trend of consumers seeking natural and herbal remedies, which are perceived to have fewer side effects compared to traditional pharmaceutical drugs. Another trend in the market is the growing popularity of online pharmacies. With the increasing penetration of smartphones and internet connectivity in Southeast Asia, consumers are increasingly turning to online platforms to purchase OTC pharmaceutical products. Online pharmacies offer convenience, competitive pricing, and a wide range of products, making them an attractive option for consumers.
Local special circumstances: One of the special circumstances in the Southeast Asian market is the presence of traditional medicine practices. Traditional medicine, such as traditional Chinese medicine and Ayurveda, has a long history in the region and continues to be widely practiced. This has created a demand for OTC pharmaceutical products that cater to traditional medicine practices, such as herbal remedies and traditional healing methods.
Underlying macroeconomic factors: The growing middle-class population in Southeast Asia is a key macroeconomic factor driving the development of the Other OTC Pharmaceuticals (Pharmacies) market. As disposable incomes rise, consumers have more purchasing power and are willing to spend on healthcare products, including OTC pharmaceuticals. Additionally, the increasing urbanization and population growth in Southeast Asia are contributing to the growth of the market. Urban areas are witnessing a higher demand for OTC pharmaceutical products due to factors such as increased pollution levels, stressful lifestyles, and higher exposure to communicable diseases. In conclusion, the Other OTC Pharmaceuticals (Pharmacies) market in Southeast Asia is experiencing growth and development due to customer preferences for convenience and accessibility, increasing demand for vitamins and dietary supplements, the popularity of online pharmacies, the presence of traditional medicine practices, and underlying macroeconomic factors such as the growing middle-class population and urbanization.
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)
