Market Insights Health Pharmacies OTC Products

Pharmacy Usual Items - Egypt

Egypt

Revenue in the Pharmacy Usual Items market is projected to reach US$5.23bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.95%, resulting in a market volume of US$6.66bn by 2029.
In global comparison, most revenue will be generated in China (US$48,050.00m in 2024).
In relation to total population figures, per person revenues of US$45.72 are generated in 2024.

Key regions: Japan, France, China, Australia, Europe

Market

Region

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Currency

Analyst Opinion

The Pharmacy Usual Items market in Egypt has been experiencing significant growth in recent years.

Customer preferences: Customers in Egypt have shown a strong preference for purchasing their usual pharmacy items from local pharmacies. This preference can be attributed to several factors, including convenience, trust in local pharmacies, and the availability of a wide range of products. Additionally, customers in Egypt tend to prioritize affordability when making purchasing decisions, which has led to a demand for competitively priced pharmacy items.

Trends in the market: One of the key trends in the Pharmacy Usual Items market in Egypt is the increasing demand for over-the-counter (OTC) medications. This can be attributed to the growing awareness and acceptance of self-medication among consumers. As a result, there has been a surge in the availability and variety of OTC medications in local pharmacies. Another trend in the market is the rising popularity of natural and herbal remedies. Consumers in Egypt are increasingly seeking out natural alternatives to traditional pharmaceutical products, driving the demand for herbal and natural remedies in the market.

Local special circumstances: Egypt has a large population, with a significant proportion of the population residing in urban areas. This population density creates a high demand for pharmacy items, as the need for healthcare products and medications is higher in densely populated areas. Additionally, the Egyptian government has been making efforts to improve access to healthcare services, which has contributed to the growth of the Pharmacy Usual Items market. These efforts include the establishment of more pharmacies in rural areas and the expansion of healthcare coverage.

Underlying macroeconomic factors: The growth of the Pharmacy Usual Items market in Egypt can also be attributed to several underlying macroeconomic factors. Egypt has experienced stable economic growth in recent years, which has led to an increase in disposable income among consumers. This has resulted in higher spending on healthcare products and medications. Additionally, the government has implemented policies to encourage investment in the healthcare sector, which has attracted both local and international players to the market. These factors have created a favorable business environment for the Pharmacy Usual Items market in Egypt, leading to its development and expansion.

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.