Pharmacy Usual Items - Norway

Norway

Highlights

Revenue in the Pharmacy Usual Items market is projected to reach US$39.46m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 12.64%, resulting in a market volume of US$71.57m 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$7.16 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Pharmacy Usual Items market in Norway has been experiencing steady growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in the Pharmacy Usual Items market in Norway have been shifting towards a focus on health and wellness. Consumers are becoming increasingly conscious of the importance of self-care and are seeking products that promote overall well-being. This has led to a growing demand for vitamins, supplements, and natural remedies. Additionally, there has been a rising interest in organic and sustainable products, as Norwegians prioritize environmentally friendly options. Trends in the market reflect these changing customer preferences. Pharmacies in Norway have expanded their offerings to include a wider range of health and wellness products. They have also increased their online presence to cater to the growing demand for convenience and accessibility. Pharmacies have been actively promoting their products through targeted marketing campaigns and partnerships with healthcare professionals. This has helped to create awareness and drive sales in the Pharmacy Usual Items market. Local special circumstances in Norway have also played a role in the development of the Pharmacy Usual Items market. The country has a well-established healthcare system that emphasizes preventive care and self-management. As a result, Norwegians are encouraged to take an active role in their own health and are more likely to seek out products that support this approach. The high level of trust in the healthcare system has also contributed to the popularity of pharmacy products among consumers. Underlying macroeconomic factors have further supported the growth of the Pharmacy Usual Items market in Norway. The country has a strong economy with high levels of disposable income. This has allowed consumers to prioritize their health and wellness and invest in pharmacy products. Additionally, the aging population in Norway has created a larger customer base for pharmacy products, as older individuals tend to have higher healthcare needs. In conclusion, the Pharmacy Usual Items market in Norway has been developing steadily due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The focus on health and wellness, the expansion of product offerings, the emphasis on self-care, and the strong economy have all contributed to the growth of this market. As these factors continue to shape consumer behavior, the Pharmacy Usual Items market in Norway is expected to continue its positive 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.