The Prescription Drugs (Pharmacies) market in ASEAN has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in the ASEAN region have played a crucial role in the growth of the Prescription Drugs (Pharmacies) market. With an increasing aging population and rising healthcare awareness, the demand for prescription drugs has been on the rise. Customers are becoming more conscious of their health and are seeking access to a wide range of prescription drugs to address their medical needs. Additionally, customers are also looking for convenience and accessibility in obtaining these drugs, which has led to the expansion of pharmacy chains and online pharmacies in the region. Trends in the market have also contributed to the growth of the Prescription Drugs (Pharmacies) market in ASEAN. The market has witnessed a shift towards generic drugs due to their lower cost compared to branded drugs. This trend is driven by cost-conscious customers and the increasing availability of generic drugs in the market. Moreover, the market has also seen an increase in the use of e-prescriptions, where doctors electronically send prescriptions to pharmacies, eliminating the need for physical prescriptions. This trend has improved efficiency and convenience for both customers and healthcare providers. Local special circumstances in each ASEAN country have also influenced the development of the Prescription Drugs (Pharmacies) market. For example, in countries like Indonesia and the Philippines, where access to healthcare facilities is limited in remote areas, pharmacies play a crucial role in providing essential medications to the population. The presence of a large number of independent pharmacies in these countries has helped meet the healthcare needs of the population. Additionally, the regulatory environment in each country also impacts the market. Some countries have implemented stricter regulations to ensure the quality and safety of prescription drugs, which has led to the growth of licensed pharmacies. Underlying macroeconomic factors have also played a significant role in the growth of the Prescription Drugs (Pharmacies) market in ASEAN. Economic growth, increasing disposable income, and urbanization have contributed to the expansion of the middle class in the region. This has led to an increase in healthcare spending and the demand for prescription drugs. Furthermore, the growing prevalence of chronic diseases, such as diabetes and hypertension, has also contributed to the growth of the market, as these conditions require long-term medication. In conclusion, the Prescription Drugs (Pharmacies) market in ASEAN is experiencing significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for prescription drugs, the shift towards generic drugs, the use of e-prescriptions, and the role of pharmacies in providing healthcare access in remote areas are all contributing to the development of the market. Additionally, economic growth, increasing disposable income, and the prevalence of chronic diseases are driving the demand for prescription drugs in the region.
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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