OTC Products - Tunisia

Tunisia

In Tunisia, the revenue in the OTC Products market is projected to reach US$327.00m in 2024.
It is expected to show an annual growth rate of 1.32%, resulting in a market volume of US$349.20m by 2029.
When compared globally, China is expected to generate the highest revenue of US$74.91bn in 2024.
In terms of per-person revenues, in Tunisia is projected to generate US$26.02 in 2024.
The OTC Products market in Tunisia provides significant economic opportunities.
The demand for OTC products in Tunisia is steadily increasing, driven by a growing awareness of self-care and a preference for accessible and affordable healthcare options.

Key regions: Europe, Australia, United Kingdom, Germany, South Korea

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Analyst Opinion

The OTC Products (Pharmacies) market in Tunisia has been experiencing steady growth in recent years. Customer preferences and local special circumstances have played a significant role in shaping the trends in this market. Additionally, underlying macroeconomic factors have also contributed to the development of the OTC Products (Pharmacies) market in Tunisia.

Customer preferences: Customers in Tunisia have shown a growing preference for over-the-counter (OTC) products in pharmacies. This can be attributed to several factors. Firstly, there is a growing awareness among consumers about self-care and the importance of maintaining good health. As a result, they are more inclined to purchase OTC products to address minor health issues without the need for a doctor's prescription. Secondly, the convenience of purchasing OTC products from pharmacies is highly appealing to customers. Pharmacies are easily accessible and provide a wide range of products, making it convenient for customers to find what they need in one place.

Trends in the market: One of the key trends in the OTC Products (Pharmacies) market in Tunisia is the increasing demand for vitamins and dietary supplements. This trend can be attributed to the growing health consciousness among consumers and their desire to lead a healthier lifestyle. Vitamins and dietary supplements are seen as a way to supplement their diet and improve overall well-being. Another trend in the market is the rising demand for skincare and beauty products. Consumers in Tunisia are becoming more conscious about their appearance and are willing to invest in skincare and beauty products to enhance their beauty and maintain healthy skin.

Local special circumstances: Tunisia has a well-established healthcare system, with pharmacies playing a crucial role in providing healthcare services. Pharmacies in Tunisia are not only retail outlets for OTC products but also serve as healthcare centers where customers can seek advice from pharmacists. This unique combination of retail and healthcare services makes pharmacies in Tunisia an integral part of the healthcare system. Additionally, the presence of a large number of pharmacies across the country ensures easy access to OTC products for customers, further driving the growth of the market.

Underlying macroeconomic factors: The OTC Products (Pharmacies) market in Tunisia is influenced by several macroeconomic factors. One of the key factors is the country's economic growth. As the economy grows, consumers have more disposable income to spend on healthcare products, including OTC products. Furthermore, the increasing urbanization in Tunisia has led to a higher concentration of population in cities, resulting in a greater demand for OTC products in pharmacies. Additionally, the government's focus on improving healthcare infrastructure and ensuring the availability of essential healthcare products has also contributed to the growth of the OTC Products (Pharmacies) market in Tunisia. In conclusion, the OTC Products (Pharmacies) market in Tunisia is experiencing growth due to customer preferences for self-care, convenience, and the availability of a wide range of products in pharmacies. The increasing demand for vitamins and dietary supplements, as well as skincare and beauty products, reflects the growing health consciousness and desire for a healthier lifestyle among consumers. The unique combination of retail and healthcare services provided by pharmacies in Tunisia, along with the country's economic growth and government initiatives, further support the development of the OTC Products (Pharmacies) market in Tunisia.

Methodology

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.