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The Prescription Drugs (Pharmacies) market in Brazil has been experiencing steady growth in recent years.
Customer preferences: Customers in Brazil have shown a growing preference for prescription drugs from pharmacies due to the convenience and accessibility they offer. Pharmacies are easily accessible to consumers in both urban and rural areas, making it convenient for them to purchase their medications. Additionally, pharmacies often offer a wide range of prescription drugs, allowing customers to find all their medication needs in one place.
Trends in the market: One of the key trends in the Prescription Drugs (Pharmacies) market in Brazil is the increasing demand for generic drugs. Generic drugs are becoming more popular among consumers due to their lower cost compared to branded drugs. This trend is driven by the rising healthcare costs in Brazil and the government's efforts to promote the use of generic drugs to reduce healthcare expenditure. As a result, pharmacies are expanding their offerings of generic drugs to cater to this growing demand. Another trend in the market is the increasing use of technology in pharmacies. Many pharmacies in Brazil are adopting digital solutions such as online ordering and home delivery services to enhance customer convenience. This trend has been accelerated by the COVID-19 pandemic, as consumers are increasingly looking for contactless options to purchase their prescription drugs. Pharmacies are also leveraging technology to improve inventory management and streamline their operations, leading to improved efficiency and customer satisfaction.
Local special circumstances: Brazil has a large population with a high prevalence of chronic diseases, such as diabetes and hypertension. This has created a significant demand for prescription drugs in the country. Additionally, Brazil has a universal healthcare system, which provides free access to prescription drugs for certain segments of the population. This has further contributed to the growth of the Prescription Drugs (Pharmacies) market in the country.
Underlying macroeconomic factors: Brazil has experienced economic growth in recent years, which has led to an increase in disposable income among consumers. This has positively impacted the Prescription Drugs (Pharmacies) market, as consumers have more purchasing power to buy their medications. Furthermore, the aging population in Brazil is also driving the demand for prescription drugs, as older individuals typically require more medication to manage their health conditions. In conclusion, the Prescription Drugs (Pharmacies) market in Brazil is growing due to customer preferences for convenience and accessibility, the increasing demand for generic drugs, the adoption of technology in pharmacies, the high prevalence of chronic diseases, and the country's economic growth and aging population.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)