The Pharmacy Usual Items market in Ethiopia is experiencing steady growth and development due to various factors.
Customer preferences: Customers in Ethiopia have a strong preference for affordable and accessible healthcare products. They prioritize basic medicines and over-the-counter drugs that can treat common ailments such as headaches, colds, and fevers. Additionally, customers prefer products that are locally produced or sourced from neighboring countries, as they trust these products more and believe they are better suited to their specific needs.
Trends in the market: One of the key trends in the Pharmacy Usual Items market in Ethiopia is the increasing demand for generic drugs. Generic drugs are more affordable compared to branded drugs, making them more accessible to a larger population. This trend is driven by the government's efforts to promote affordable healthcare and reduce the burden on public healthcare facilities. As a result, more pharmacies are stocking generic drugs to cater to the growing demand. Another trend in the market is the rise of e-commerce platforms for pharmaceutical products. Online pharmacies are gaining popularity among customers who prefer the convenience of ordering medicines from the comfort of their homes. This trend has been accelerated by the COVID-19 pandemic, as people are more cautious about visiting physical stores. Online pharmacies also offer a wider range of products and competitive prices, attracting customers who are looking for convenience and affordability.
Local special circumstances: Ethiopia has a large population with limited access to healthcare facilities, especially in rural areas. This has led to a higher demand for pharmacy usual items as people rely on self-medication for common ailments. Pharmacies play a crucial role in providing essential medicines and healthcare products to these underserved populations. In addition, the government has been investing in the expansion of healthcare infrastructure, including the establishment of more pharmacies in remote areas, to improve access to healthcare services.
Underlying macroeconomic factors: Ethiopia is one of the fastest-growing economies in Africa, with a rising middle class and increasing disposable income. This has contributed to the growth of the Pharmacy Usual Items market, as people have more purchasing power to afford healthcare products. The government's focus on improving healthcare infrastructure and promoting affordable healthcare has also created a favorable environment for the market to thrive. In conclusion, the Pharmacy Usual Items market in Ethiopia is developing due to customer preferences for affordable and accessible healthcare products, the increasing demand for generic drugs, the rise of e-commerce platforms, the need for healthcare access in underserved areas, and the underlying macroeconomic factors such as economic growth and government initiatives.
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)
