Pharmacy Usual Items - Tanzania

Tanzania

Highlights

Revenue in the Pharmacy Usual Items market is projected to reach US$322.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.49%, resulting in a market volume of US$383.20m 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$4.65 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Customers in Tanzania have a strong preference for pharmacy usual items, such as over-the-counter medications, personal care products, and vitamins. These products are essential for maintaining good health and well-being, and customers are increasingly seeking convenient access to them. In addition, there is a growing awareness among Tanzanian consumers about the importance of preventive healthcare, which has further fueled the demand for pharmacy usual items.

Trends in the market: One of the key trends in the Pharmacy Usual Items market in Tanzania is the increasing popularity of online pharmacies. With the rise of e-commerce and the widespread use of smartphones, more and more customers are opting to purchase their pharmacy usual items online. This trend is driven by the convenience of online shopping, as customers can easily browse and compare products, place orders, and have them delivered to their doorstep. Online pharmacies also offer a wider range of products and competitive prices, attracting a larger customer base. Another trend in the market is the growing demand for natural and organic pharmacy usual items. Tanzanian consumers are becoming more health-conscious and are seeking products that are free from harmful chemicals and artificial ingredients. This trend is in line with the global shift towards natural and organic products, driven by concerns about the environment and personal health. As a result, pharmacies in Tanzania are expanding their offerings to include a variety of natural and organic pharmacy usual items to cater to this growing demand.

Local special circumstances: Tanzania has a rapidly growing population, which is contributing to the increased demand for pharmacy usual items. As the population continues to grow, there is a greater need for accessible healthcare products, including over-the-counter medications and personal care items. In addition, the government of Tanzania has been making efforts to improve healthcare infrastructure and access to healthcare services, which is also driving the demand for pharmacy usual items.

Underlying macroeconomic factors: The Pharmacy Usual Items market in Tanzania is also influenced by macroeconomic factors. The country's economy has been growing steadily in recent years, resulting in increased disposable income among Tanzanian consumers. This has led to higher spending on healthcare products, including pharmacy usual items. In addition, the government has implemented policies to promote the pharmaceutical industry and improve access to healthcare, which has further stimulated the growth of the market. In conclusion, the Pharmacy Usual Items market in Tanzania is experiencing significant growth and development. Customer preferences for convenient access to healthcare products, the popularity of online pharmacies, and the demand for natural and organic items are driving the market trends. The growing population, government efforts to improve healthcare infrastructure, and the country's economic growth are also contributing to the expansion of the 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.