Key regions: United Kingdom, India, Canada, Germany, China
The Vitamins & Minerals (Pharmacies) market in Iraq has been experiencing steady growth in recent years. Customer preferences in the market are driven by the increasing awareness of the importance of maintaining good health and the desire to prevent illness. As a result, there is a growing demand for vitamins and minerals as consumers seek to supplement their diets with essential nutrients. Additionally, the aging population in Iraq is also contributing to the demand for these products, as older individuals often require additional vitamins and minerals to support their overall health and well-being. Trends in the market include the rising popularity of natural and organic products. Consumers are becoming more conscious of the ingredients in the products they consume and are opting for natural alternatives. This trend is particularly evident in the vitamins and minerals market, where consumers are looking for products that are free from artificial additives and preservatives. As a result, there has been an increase in the availability of natural and organic vitamins and minerals in pharmacies across Iraq. Another trend in the market is the growing popularity of online shopping. With the increasing penetration of the internet and smartphones in Iraq, consumers are turning to online platforms to purchase vitamins and minerals. Online shopping offers convenience and a wider range of products to choose from, making it an attractive option for consumers. Pharmacies in Iraq have recognized this trend and have started to offer their products online, catering to the changing preferences of their customers. Local special circumstances in Iraq also play a role in the development of the Vitamins & Minerals (Pharmacies) market. The country has a high prevalence of chronic diseases, such as diabetes and cardiovascular diseases, which has led to an increased demand for vitamins and minerals to manage these conditions. Additionally, the hot climate in Iraq can lead to increased nutrient loss through sweating, making the need for supplementation more important. Underlying macroeconomic factors, such as economic growth and increasing disposable incomes, are also contributing to the development of the market. As the economy in Iraq continues to grow, consumers have more purchasing power to spend on healthcare products, including vitamins and minerals. This, coupled with the increasing awareness of the importance of preventive healthcare, has created a favorable environment for the growth of the Vitamins & Minerals (Pharmacies) market in Iraq. In conclusion, the Vitamins & Minerals (Pharmacies) market in Iraq is experiencing growth driven by customer preferences for preventive healthcare, the rising popularity of natural and organic products, the growth of online shopping, local special circumstances, and underlying macroeconomic factors. As the market continues to develop, it is expected that pharmacies in Iraq will continue to expand their offerings and cater to the changing needs and preferences of their customers.
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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