The Prescription Drugs (Pharmacies) market in Croatia has seen significant growth in recent years, driven by customer preferences and local special circumstances.
Customer preferences: Customers in Croatia have shown a growing preference for prescription drugs from pharmacies due to the convenience and accessibility they offer. Pharmacies are easily accessible in both urban and rural areas, providing a wide range of prescription drugs to meet the needs of the population. This convenience factor has led to an increase in the number of customers choosing to purchase their prescription drugs from pharmacies rather than other channels.
Trends in the market: One of the key trends in the Prescription Drugs (Pharmacies) market in Croatia is the increasing demand for generic drugs. Generic drugs are more affordable compared to branded drugs, making them an attractive choice for customers. The government has also implemented policies to promote the use of generic drugs, further driving their demand in the market. This trend is expected to continue in the coming years, as customers become more price-conscious and seek cost-effective healthcare solutions. Another trend in the market is the growing focus on online pharmacies. With the advancement of technology and the increasing penetration of the internet, customers are now able to purchase prescription drugs online. This provides them with the convenience of ordering their medications from the comfort of their homes and having them delivered to their doorstep. Online pharmacies also offer a wider range of products and competitive prices, attracting a growing number of customers.
Local special circumstances: Croatia has a well-developed healthcare system, which includes a strong network of pharmacies. The government has implemented regulations to ensure the quality and safety of prescription drugs sold in pharmacies, providing customers with confidence in their purchases. Additionally, pharmacies in Croatia are required to have a licensed pharmacist present, further ensuring the proper dispensing of medications and offering professional advice to customers.
Underlying macroeconomic factors: The growing Prescription Drugs (Pharmacies) market in Croatia can be attributed to several underlying macroeconomic factors. Croatia has experienced stable economic growth in recent years, leading to an increase in disposable income among the population. This has resulted in higher healthcare spending, including the purchase of prescription drugs from pharmacies. Furthermore, Croatia has an aging population, which has contributed to the increased demand for prescription drugs. As the population ages, the incidence of chronic diseases and medical conditions increases, leading to a higher need for medications. This demographic trend is expected to continue in the future, driving the growth of the Prescription Drugs (Pharmacies) market. In conclusion, the Prescription Drugs (Pharmacies) market in Croatia is experiencing growth due to customer preferences for convenience and accessibility, the increasing demand for generic drugs, the rise of online pharmacies, the well-developed healthcare system, and underlying macroeconomic factors such as stable economic growth and an aging population. These factors are expected to continue driving the growth of the market in the coming years.
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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