Pharmacy Usual Items - Serbia

Serbia

Highlights

Revenue in the Pharmacy Usual Items market is projected to reach US$225.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -3.82%, resulting in a market volume of US$185.80m 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$31.82 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Pharmacy Usual Items market in Serbia is experiencing significant growth and development.

Customer preferences: Customers in Serbia have shown a strong preference for Pharmacy Usual Items, which are products that are commonly found in pharmacies and are used for everyday health and wellness needs. These items include over-the-counter medications, vitamins and supplements, personal care products, and first aid supplies. Customers value the convenience and accessibility of these products, as well as the trust and reliability associated with purchasing them from a pharmacy.

Trends in the market: One of the key trends in the Pharmacy Usual Items market in Serbia is the increasing demand for natural and organic products. Customers are becoming more conscious of the ingredients and materials used in the products they purchase, and are seeking out options that are free from harmful chemicals and additives. This trend is driven by a growing awareness of health and wellness, as well as a desire to minimize the impact on the environment. As a result, pharmacies in Serbia are expanding their offerings to include a wider range of natural and organic Pharmacy Usual Items. Another trend in the market is the rise of e-commerce. Customers in Serbia are increasingly turning to online platforms to purchase Pharmacy Usual Items. This shift is driven by the convenience and ease of online shopping, as well as the ability to compare prices and access a wider range of products. Pharmacies in Serbia are adapting to this trend by developing their own online platforms or partnering with e-commerce platforms to reach a larger customer base.

Local special circumstances: One of the key factors driving the growth of the Pharmacy Usual Items market in Serbia is the aging population. Serbia has a rapidly aging population, with a significant proportion of the population over the age of 65. This demographic trend is leading to an increased demand for healthcare products and services, including Pharmacy Usual Items. Pharmacies in Serbia are responding to this trend by expanding their offerings and tailoring their services to meet the specific needs of older customers.

Underlying macroeconomic factors: The growth of the Pharmacy Usual Items market in Serbia is also influenced by macroeconomic factors. The Serbian economy has been growing steadily in recent years, which has led to an increase in disposable income and consumer spending. This has allowed customers to allocate more of their budget to healthcare and wellness products, including Pharmacy Usual Items. Additionally, the government in Serbia has implemented policies to improve access to healthcare and promote preventive care, which has further boosted demand for Pharmacy Usual Items. In conclusion, the Pharmacy Usual Items market in Serbia is experiencing significant growth and development. Customer preferences for convenience, accessibility, and trust are driving the demand for these products. The rise of natural and organic products and the shift towards e-commerce are key trends in the market. The aging population and the positive macroeconomic factors in Serbia are also contributing to the growth of the Pharmacy Usual Items market.

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.