Pharmacy Usual Items - Fiji

Fiji

Highlights

Revenue in the Pharmacy Usual Items market is projected to reach US$9.26m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -1.10%, resulting in a market volume of US$8.76m 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$9.82 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Pharmacy Usual Items market in Fiji is experiencing steady growth due to a combination of customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Fiji are shifting towards a greater emphasis on personal health and wellness. As people become more health-conscious, there is an increased demand for pharmacy usual items such as vitamins, supplements, and over-the-counter medications. Additionally, consumers are looking for convenience and affordability, which has led to a rise in online shopping for pharmacy products. Trends in the market are also contributing to the growth of the Pharmacy Usual Items market in Fiji. One major trend is the increasing aging population, which has resulted in a higher demand for products related to elderly care and chronic disease management. This includes items such as mobility aids, pain relief medication, and wound care products. Another trend is the growing popularity of natural and organic products. Consumers are becoming more aware of the potential side effects of synthetic medications and are seeking alternatives that are perceived as safer and more sustainable. Local special circumstances in Fiji further contribute to the development of the Pharmacy Usual Items market. The country has a relatively high prevalence of non-communicable diseases such as diabetes, hypertension, and obesity. This has created a need for a wide range of pharmacy products to manage these conditions, including medications, glucose monitors, and weight management supplements. Additionally, Fiji has a strong traditional medicine culture, with many people relying on herbal remedies and traditional healing practices. This has led to a demand for natural and traditional pharmacy products. Underlying macroeconomic factors also play a role in the growth of the Pharmacy Usual Items market in Fiji. The country's economy has been steadily growing, leading to an increase in disposable income and consumer spending. This allows people to afford a wider range of pharmacy products and contributes to the overall growth of the market. Furthermore, the government of Fiji has been investing in healthcare infrastructure and promoting public health initiatives. This has created a supportive environment for the Pharmacy Usual Items market to thrive. Overall, the Pharmacy Usual Items market in Fiji is experiencing growth driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As the population becomes more health-conscious and the demand for convenience and affordability increases, the market is expected to continue to expand in the coming years.

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.