The Prescription Drugs (Pharmacies) market in Finland has been experiencing significant growth in recent years.
Customer preferences: One of the main reasons for this growth is the increasing demand for prescription drugs among the Finnish population. As the population ages, the need for prescription medications to manage chronic diseases and conditions has also increased. Additionally, there has been a growing awareness and acceptance of prescription drugs as a means to improve health and well-being.
Trends in the market: The Prescription Drugs (Pharmacies) market in Finland has also seen a shift towards online pharmacies. This trend can be attributed to the convenience and accessibility offered by online platforms, which allow customers to order their medications from the comfort of their own homes. The COVID-19 pandemic has further accelerated this trend, as people have sought to minimize their exposure to public spaces.
Local special circumstances: Finland has a well-developed healthcare system that provides universal access to healthcare services, including prescription drugs. This ensures that there is a steady demand for prescription medications in the country. Additionally, the Finnish government has implemented policies to promote the use of generic drugs, which has contributed to the growth of the prescription drugs market.
Underlying macroeconomic factors: The strong economic growth in Finland has also played a role in the development of the Prescription Drugs (Pharmacies) market. As the economy has grown, so has the disposable income of the population, allowing them to afford prescription medications. Furthermore, the government's commitment to providing affordable healthcare has also contributed to the growth of the market. In conclusion, the Prescription Drugs (Pharmacies) market in Finland is experiencing significant growth due to the increasing demand for prescription medications, the shift towards online pharmacies, the well-developed healthcare system, and the strong macroeconomic factors.
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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