Market Insights Health Pharmacies OTC Products

Other OTC Pharmaceuticals (Pharmacies) - Tunisia

Tunisia

Revenue in the Other OTC Pharmaceuticals market is projected to reach US$66.24m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.26%, resulting in a market volume of US$70.52m by 2029.
In global comparison, most revenue will be generated in the United States (US$4,981.00m in 2024).
In relation to total population figures, per person revenues of US$5.27 are generated in 2024.

Key regions: France, Australia, India, South Korea, Germany

Market

Region

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Currency

Analyst Opinion

The Other OTC Pharmaceuticals (Pharmacies) market in Tunisia has been experiencing significant growth in recent years.

Customer preferences: Customers in Tunisia 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 OTC products compared to prescription medications. Additionally, customers appreciate the ability to self-diagnose and treat minor ailments without the need for a doctor's visit. The increasing availability of OTC products in pharmacies across the country has also contributed to this trend.

Trends in the market: One of the key trends in the Other OTC Pharmaceuticals (Pharmacies) market in Tunisia is the rising demand for vitamins and dietary supplements. As people become more health-conscious, there has been a growing interest in maintaining overall well-being through the use of vitamins and supplements. This trend is expected to continue as consumers seek to improve their immune systems and overall health. Another trend in the market is the increasing demand for skincare products. With a greater emphasis on personal grooming and appearance, consumers are turning to OTC skincare products to address common skin concerns such as acne, dryness, and aging. The availability of a wide range of skincare products in pharmacies has made it easier for consumers to find suitable solutions for their specific needs.

Local special circumstances: Tunisia has a well-established healthcare system, with pharmacies playing a crucial role in providing accessible healthcare services to the population. Pharmacies are widely distributed across the country, making it convenient for customers to access OTC pharmaceutical products. Additionally, the presence of knowledgeable pharmacists who can provide advice and guidance on product selection has further contributed to the growth of the market.

Underlying macroeconomic factors: The growing middle class in Tunisia has played a significant role in the development of the Other OTC Pharmaceuticals (Pharmacies) market. As disposable incomes rise, consumers have more purchasing power to spend on healthcare products, including OTC pharmaceuticals. The increasing urbanization and modernization of the country have also contributed to the growth of the market, as consumers become more aware of and interested in personal health and wellness. In conclusion, the Other OTC Pharmaceuticals (Pharmacies) market in Tunisia is experiencing growth due to customer preferences for convenient and accessible healthcare solutions. The rising demand for vitamins, dietary supplements, and skincare products reflects a growing interest in overall well-being and personal grooming. The well-established healthcare system and the presence of knowledgeable pharmacists in Tunisia's pharmacies have also contributed to the market's development. The growth of the middle class and increasing urbanization are underlying macroeconomic factors that have fueled the expansion of the market.

Methodology

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.