Pharmacy Usual Items - Argentina

Argentina

Highlights

Revenue in the Pharmacy Usual Items market is projected to reach US$180.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.80%, resulting in a market volume of US$216.80m by 2029.
In global comparison, most revenue will be generated China (US$48.05bn in 2024).
In relation to total population figures, per person revenues of US$3.91 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Pharmacy Usual Items market in Argentina has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to the development of this market. Customer preferences in the Pharmacy Usual Items market in Argentina have been shifting towards more natural and organic products. Consumers are becoming more health-conscious and are seeking out products that are free from harmful chemicals and additives. This trend is in line with global consumer preferences for clean and natural products. As a result, there has been an increase in demand for natural skincare, vitamins and supplements, and herbal remedies in the market. Trends in the market also indicate a growing focus on preventive healthcare. With rising healthcare costs and an aging population, consumers are taking a proactive approach to their health by investing in products that help prevent illness and promote overall well-being. This has led to an increase in sales of products such as dietary supplements, probiotics, and immune-boosting products. Local special circumstances in Argentina have also contributed to the development of the Pharmacy Usual Items market. The country has a strong pharmaceutical industry and a well-established network of pharmacies. This has created a favorable environment for the growth of the market, with easy access to a wide range of products for consumers. Additionally, the government has implemented policies to promote the use of generic drugs, which has further boosted the market. Underlying macroeconomic factors have also played a role in the development of the Pharmacy Usual Items market in Argentina. The country has experienced economic stability in recent years, with steady GDP growth and low inflation rates. This has increased consumer purchasing power and confidence, leading to higher spending on healthcare and wellness products. Additionally, the government has implemented healthcare reforms to improve access to healthcare services, which has further fueled the demand for pharmacy usual items. In conclusion, the Pharmacy Usual Items market in Argentina is developing due to shifting customer preferences towards natural and organic products, a growing focus on preventive healthcare, local special circumstances such as a strong pharmaceutical industry and government policies, and underlying macroeconomic factors such as economic stability and healthcare reforms. These factors have created a favorable environment for the growth of the market and are likely to continue driving its development in the future.

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.