Pharmacy Usual Items - United Arab Emirates

United Arab Emirates

Highlights

Revenue in the Pharmacy Usual Items market is projected to reach US$671.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.20%, resulting in a market volume of US$677.80m 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$69.97 are generated in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Pharmacy Usual Items market in United Arab Emirates has been experiencing significant growth in recent years.

Customer preferences: Customers in the United Arab Emirates have shown a strong preference for purchasing pharmacy usual items. These items include over-the-counter medications, personal care products, vitamins and dietary supplements, and other health-related products. The convenience of being able to purchase these items at pharmacies, which are often located in close proximity to residential areas, has contributed to their popularity. Additionally, customers in the United Arab Emirates value the quality and reliability of these products, as they are often produced by well-known international brands.

Trends in the market: One of the key trends in the Pharmacy Usual Items market in the United Arab Emirates is the increasing demand for natural and organic products. Customers are becoming more conscious of their health and are seeking products that are free from harmful chemicals and additives. This trend is in line with the global shift towards natural and organic products, as customers are becoming more aware of the potential benefits of using these types of products. As a result, pharmacies in the United Arab Emirates are expanding their range of natural and organic products to meet the growing demand. Another trend in the market is the rising popularity of online pharmacies. Customers in the United Arab Emirates are increasingly turning to online platforms to purchase their pharmacy usual items. This trend can be attributed to the convenience and ease of online shopping, as well as the availability of a wider range of products. Online pharmacies also often offer competitive prices and discounts, which further attract customers. As a result, traditional brick-and-mortar pharmacies are facing increased competition and are adapting their business models to include online sales channels.

Local special circumstances: The United Arab Emirates has a growing population, with a significant proportion of expatriates. This diverse population has different healthcare needs and preferences, which has influenced the development of the Pharmacy Usual Items market. Pharmacies in the United Arab Emirates have responded to this diversity by offering a wide range of products to cater to different customer segments. For example, pharmacies may stock products that are specifically targeted towards certain ethnic groups or cultural preferences. This diversity in product offerings has contributed to the growth of the market.

Underlying macroeconomic factors: The growth of the Pharmacy Usual Items market in the United Arab Emirates can also be attributed to underlying macroeconomic factors. The United Arab Emirates has a strong economy, driven by sectors such as oil and gas, tourism, and finance. This has resulted in a high standard of living and increased disposable income among the population. As a result, customers in the United Arab Emirates are willing to spend more on healthcare and wellness products, including pharmacy usual items. The government of the United Arab Emirates has also implemented policies to promote healthcare and wellness, which has further stimulated the growth 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.