The Pharmacy Usual Items market in Oman has been experiencing steady growth in recent years. Customer preferences have shifted towards a greater demand for over-the-counter medicines and personal care products. This trend can be attributed to several factors, including changing lifestyles, increasing awareness about health and wellness, and a growing aging population.
Customer preferences: Customers in Oman are increasingly seeking convenience and accessibility when it comes to purchasing pharmacy usual items. This has led to a rise in the demand for over-the-counter medicines, such as pain relievers, cough and cold remedies, and vitamins. These products are readily available in pharmacies and do not require a prescription, making them easily accessible to consumers. In addition to over-the-counter medicines, there is also a growing demand for personal care products. Customers are becoming more conscious about their appearance and overall well-being, leading to an increased demand for products such as skincare, hair care, and oral care items. The availability of a wide range of international brands in the market has further fueled this demand.
Trends in the market: One of the key trends in the Pharmacy Usual Items market in Oman is the growing popularity of online pharmacies. Customers are increasingly turning to online platforms to purchase their pharmacy usual items due to the convenience and competitive pricing offered. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increased reliance on e-commerce. Another trend in the market is the emphasis on natural and organic products. Customers are becoming more conscious about the ingredients used in their pharmacy usual items and are opting for products that are free from harmful chemicals. This has led to an increased demand for natural and organic alternatives, such as herbal remedies and organic skincare products.
Local special circumstances: Oman has a relatively young population, with a significant portion of the population under the age of 30. This demographic trend has contributed to the growing demand for pharmacy usual items, as younger consumers are more likely to prioritize their health and well-being. Furthermore, Oman has been investing heavily in healthcare infrastructure and services, which has improved access to healthcare and increased awareness about the importance of preventive care. This has had a positive impact on the demand for pharmacy usual items, as consumers are taking a proactive approach towards their health.
Underlying macroeconomic factors: The Pharmacy Usual Items market in Oman is influenced by several macroeconomic factors. The country's stable economic growth and rising disposable incomes have contributed to an increase in consumer spending on healthcare products. Additionally, the government's focus on diversifying the economy and promoting the healthcare sector has created favorable conditions for the growth of the Pharmacy Usual Items market. In conclusion, the Pharmacy Usual Items market in Oman is experiencing growth due to changing customer preferences, including a greater demand for over-the-counter medicines and personal care products. The market is also influenced by trends such as the rise of online pharmacies and the emphasis on natural and organic products. Local special circumstances, such as a young population and investments in healthcare infrastructure, further contribute to the growth of the market. Overall, the market is driven by underlying macroeconomic factors, including stable economic growth and rising disposable incomes.
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.
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