Prescription Drugs - Cambodia

Cambodia

Cambodia is expected to see a significant growth in revenue in the Prescription Drugs market.
By 2024, the projected revenue is estimated to reach US$70.61m.
Furthermore, the market is expected to maintain an annual growth rate of 3.19% from 2024 to 2029, resulting in a market volume of US$82.63m by 2029.
In comparison to other countries globally, it is worth noting that United States is projected to generate the highest revenue in the Prescription Drugs market.
In 2024, the estimated revenue for the United States is a staggering US$358.90bn.
To put these numbers into perspective, in 2024, the per person revenue in Cambodia is approximately US$4.12.
This indicates the average revenue generated per individual in relation to the total population figures.
The Prescription Drugs market in Cambodia is expected to contribute significantly to the overall healthcare sector in the country.
Cambodia's prescription drug market is experiencing a surge in demand due to the country's growing healthcare infrastructure and increasing access to medical services.

Key regions: Japan, China, Europe, Australia, Canada

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Analyst Opinion

The Prescription Drugs (Pharmacies) market in Cambodia has been experiencing significant growth in recent years.

Customer preferences: Cambodian customers have shown a growing demand for prescription drugs, with an increasing number of people seeking medical treatment and medication. This can be attributed to several factors, including a rise in chronic diseases, an aging population, and a growing middle class with higher disposable incomes. As a result, there has been a greater need for pharmacies to provide a wide range of prescription drugs to meet the diverse needs of the population.

Trends in the market: One notable trend in the Prescription Drugs (Pharmacies) market in Cambodia is the increasing number of pharmacies across the country. This can be attributed to the government's efforts to improve access to healthcare services, particularly in rural areas. The expansion of pharmacies in these areas has allowed more people to have access to essential prescription drugs, reducing the need for them to travel long distances to obtain medication. Additionally, the rise of e-commerce platforms has made it easier for customers to purchase prescription drugs online, further contributing to the growth of the market.

Local special circumstances: Cambodia's healthcare system is still developing, and there are challenges in terms of affordability and accessibility to healthcare services. Many Cambodians rely on pharmacies as their primary source of healthcare, as they provide a wide range of over-the-counter and prescription drugs. Pharmacies in Cambodia often serve as a one-stop-shop for customers, offering not only medication but also health consultations and basic healthcare products. This unique characteristic of the Cambodian market has contributed to the growth of the Prescription Drugs (Pharmacies) market in the country.

Underlying macroeconomic factors: The growth of the Prescription Drugs (Pharmacies) market in Cambodia can also be attributed to favorable macroeconomic factors. Cambodia has experienced steady economic growth in recent years, which has resulted in an increase in disposable incomes. As a result, more people are able to afford prescription drugs and are willing to spend on their healthcare needs. Additionally, the government has been investing in the healthcare sector, increasing the availability of healthcare services and supporting the growth of the pharmacy market. In conclusion, the Prescription Drugs (Pharmacies) market in Cambodia is experiencing significant growth due to customer preferences for prescription drugs, the increasing number of pharmacies, the unique characteristics of the local market, and favorable macroeconomic factors. The market is expected to continue growing as the demand for healthcare services and prescription drugs in Cambodia continues to rise.

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.