Pharmacy Usual Items - Benelux

Benelux

Highlights

Revenue in the Pharmacy Usual Items market is projected to reach US$833.00m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.90%, resulting in a market volume of US$1.01bn 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$27.72 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Pharmacy Usual Items market in Benelux is experiencing steady growth due to several factors.

Customer preferences: Customers in the Benelux region have a strong preference for convenience and accessibility when it comes to purchasing pharmacy usual items. They value the ability to easily find and purchase everyday items such as over-the-counter medications, personal care products, and health supplements. This has led to an increase in the demand for these items in the market.

Trends in the market: One of the key trends in the Pharmacy Usual Items market in Benelux is the rise of online shopping. With the increasing popularity of e-commerce platforms, customers now have the option to conveniently purchase pharmacy usual items from the comfort of their own homes. This trend has been further accelerated by the COVID-19 pandemic, as people have been encouraged to stay at home and limit their physical interactions. Another trend in the market is the growing focus on natural and organic products. Customers in Benelux are becoming more health-conscious and are seeking out products that are free from harmful chemicals and additives. This has led to an increase in the demand for natural and organic pharmacy usual items such as herbal supplements, organic skincare products, and natural remedies.

Local special circumstances: The Benelux region consists of three countries - Belgium, the Netherlands, and Luxembourg - each with its own unique characteristics. In Belgium, for example, there is a strong tradition of community pharmacies that provide personalized advice and services to customers. This has created a loyal customer base that values the expertise and guidance of pharmacists when it comes to purchasing pharmacy usual items. In the Netherlands, on the other hand, there is a greater emphasis on self-care and self-medication, with customers preferring to make their own decisions when it comes to purchasing over-the-counter medications and personal care products.

Underlying macroeconomic factors: The Pharmacy Usual Items market in Benelux is also influenced by underlying macroeconomic factors. The region has a stable and prosperous economy, which has contributed to the overall growth of the market. Additionally, the high level of healthcare spending in the region has led to increased availability and accessibility of pharmacy usual items. The Benelux region also benefits from a well-developed healthcare system, which ensures that customers have easy access to pharmacies and a wide range of products. In conclusion, the Pharmacy Usual Items market in Benelux is experiencing steady growth driven by customer preferences for convenience and accessibility, the rise of online shopping, the demand for natural and organic products, and the unique characteristics of each country in the region. The underlying macroeconomic factors, such as a stable economy and a well-developed healthcare system, also 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.