Pharmacy Usual Items - Lithuania

Lithuania

Highlights

Revenue in the Pharmacy Usual Items market is projected to reach US$314.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.79%, resulting in a market volume of US$343.80m 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$116.80 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Pharmacy Usual Items market in Lithuania is experiencing steady growth due to changing customer preferences and local special circumstances.

Customer preferences: Customers in Lithuania are increasingly seeking convenience and affordability when it comes to purchasing pharmacy usual items. With busy lifestyles and a growing emphasis on self-care, consumers are looking for products that are easily accessible and offer good value for money. This has led to a rise in online shopping for pharmacy items, as well as the popularity of discount stores and private label brands.

Trends in the market: One of the key trends in the Pharmacy Usual Items market in Lithuania is the increasing demand for natural and organic products. Consumers are becoming more health-conscious and are looking for products that are free from harmful chemicals and artificial ingredients. This trend is driving the growth of natural and organic brands in the market, as well as the expansion of dedicated sections for these products in pharmacies. Another trend in the market is the growing popularity of wellness and beauty products. Consumers are placing a greater emphasis on self-care and are willing to invest in products that promote their well-being and enhance their appearance. This has led to an increase in the availability of beauty and wellness products in pharmacies, including skincare, haircare, and nutritional supplements.

Local special circumstances: Lithuania has a well-developed healthcare system, which includes a strong network of pharmacies. Pharmacies in Lithuania play a crucial role in providing healthcare services to the population, including the dispensing of prescription medications and over-the-counter products. This has created a favorable environment for the growth of the Pharmacy Usual Items market, as pharmacies are trusted sources for healthcare products and advice.

Underlying macroeconomic factors: The growth of the Pharmacy Usual Items market in Lithuania is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has resulted in increased disposable incomes and consumer spending. This has allowed consumers to allocate more of their budget towards healthcare and self-care products, driving the demand in the market. In conclusion, the Pharmacy Usual Items market in Lithuania is growing due to changing customer preferences, such as the demand for convenience and affordability, as well as the increasing popularity of natural and organic products and wellness and beauty items. The local special circumstances, including the well-developed healthcare system and the role of pharmacies in providing healthcare services, further contribute to the growth of the market. The underlying macroeconomic factors, such as steady economic growth and increased disposable incomes, also play a significant role in driving the demand for pharmacy usual items in Lithuania.

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.