Pharmacy Usual Items - Malta

Malta

Highlights

Revenue in the Pharmacy Usual Items market is projected to reach US$6.88m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.19%, resulting in a market volume of US$7.67m 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$12.82 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Pharmacy Usual Items market in Malta is experiencing steady growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Malta are driving the growth of the Pharmacy Usual Items market. Customers in Malta are increasingly seeking convenience and value for money when it comes to purchasing their usual pharmacy items. They prefer to have a wide range of products available to them in one place, making it easier for them to find and purchase what they need. Additionally, customers in Malta are becoming more health-conscious and are actively seeking out products that promote wellness and self-care. Trends in the market are also contributing to the growth of the Pharmacy Usual Items market in Malta. One key trend is the increasing popularity of online shopping. Customers in Malta are embracing the convenience and accessibility of online platforms to purchase their usual pharmacy items. This trend is driven by factors such as the wide availability of products, competitive pricing, and the ability to compare and research products before making a purchase. Another trend is the growing demand for natural and organic products. Customers in Malta are becoming more conscious of the ingredients in the products they use and are opting for natural alternatives. This trend is driven by factors such as a desire for healthier lifestyles and a growing awareness of the environmental impact of certain ingredients. Local special circumstances also play a role in the growth of the Pharmacy Usual Items market in Malta. The country's aging population is increasing the demand for products that cater to the specific needs of older adults. This includes items such as vitamins and supplements, mobility aids, and products for managing chronic conditions. Additionally, Malta's status as a popular tourist destination contributes to the growth of the market. Tourists visiting Malta often require pharmacy items during their stay, leading to increased sales and demand. Underlying macroeconomic factors are also driving the growth of the Pharmacy Usual Items market in Malta. The country's stable economy and high standard of living contribute to a favorable consumer environment. Additionally, the government's focus on healthcare and wellness initiatives supports the growth of the market. This includes initiatives such as promoting healthy lifestyles, providing access to healthcare services, and investing in healthcare infrastructure. Overall, the Pharmacy Usual Items market in Malta is experiencing growth due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As customers in Malta continue to prioritize convenience, value for money, and wellness, the market is expected to continue its upward trajectory.

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.