Pharmacy Usual Items - Israel

Israel

Highlights

Revenue in the Pharmacy Usual Items market is projected to reach US$1.03bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.47%, resulting in a market volume of US$1.41bn 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$110.60 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Pharmacy Usual Items market in Israel is experiencing steady growth due to several factors. Customer preferences for convenience and accessibility are driving the demand for pharmacy usual items. Additionally, local special circumstances, such as the aging population and the prevalence of chronic diseases, contribute to the growth of the market.

Customer preferences: Customers in Israel prefer to have easy access to pharmacy usual items. They value convenience and efficiency when it comes to purchasing everyday healthcare products. As a result, there is a growing demand for these items in various retail channels, including pharmacies, supermarkets, and online platforms. Customers appreciate the convenience of being able to purchase their usual items alongside their prescription medications, making it a one-stop-shop for their healthcare needs.

Trends in the market: One of the key trends in the Pharmacy Usual Items market in Israel is the increasing demand for natural and organic products. Customers are becoming more health-conscious and are seeking products that are free from harmful chemicals and additives. This trend is driven by a growing awareness of the potential side effects of certain ingredients and a desire for more sustainable and eco-friendly options. Another trend in the market is the rise of e-commerce. Online platforms provide customers with a wide range of options and the convenience of shopping from the comfort of their own homes. This trend has been further accelerated by the COVID-19 pandemic, as customers have turned to online shopping to avoid crowded places and minimize contact with others.

Local special circumstances: Israel has an aging population, with a significant proportion of the population being over the age of 65. This demographic trend has led to an increased demand for pharmacy usual items, as older adults often require medications, vitamins, and other healthcare products on a regular basis. The aging population also contributes to the demand for products that cater to specific health needs, such as mobility aids and products for managing chronic conditions.

Underlying macroeconomic factors: The Pharmacy Usual Items market in Israel is also influenced by macroeconomic factors. The country has a relatively stable economy with a high standard of living. This allows consumers to allocate a portion of their disposable income towards healthcare and wellness products. Additionally, the government provides a comprehensive healthcare system, which includes coverage for prescription medications. This ensures that customers have access to the necessary medications and may also contribute to the demand for pharmacy usual items. In conclusion, the Pharmacy Usual Items market in Israel is growing due to customer preferences for convenience and accessibility, as well as local special circumstances such as an aging population. Trends in the market include the demand for natural and organic products and the rise of e-commerce. These trends are supported by the underlying macroeconomic factors, including a stable economy and a comprehensive healthcare system.

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.