The Prescription Drugs (Pharmacies) market in Gabon has been experiencing significant growth in recent years.
Customer preferences: Customers in Gabon have shown a growing preference for prescription drugs, leading to an increased demand for pharmacies. This is primarily driven by the rising healthcare awareness among the population, as well as an increase in chronic diseases and the aging population. Additionally, the convenience of purchasing prescription drugs from pharmacies, along with the availability of a wide range of medications, has also contributed to the growth of the market.
Trends in the market: One of the key trends in the Prescription Drugs (Pharmacies) market in Gabon is the increasing use of generic drugs. Generic drugs are more affordable compared to branded drugs, making them a popular choice among customers. The government of Gabon has also been promoting the use of generic drugs to reduce healthcare costs. This trend is expected to continue in the coming years, further driving the growth of the market. Another trend in the market is the growing popularity of online pharmacies. With the increasing penetration of internet and smartphones in Gabon, customers are now able to conveniently order prescription drugs online. Online pharmacies offer a wide range of medications and provide home delivery services, making it a convenient option for customers, especially those who are unable to visit physical pharmacies. This trend is expected to continue as more customers become comfortable with online shopping.
Local special circumstances: Gabon has a relatively small population compared to other countries, which has led to the presence of a limited number of pharmacies. This has created a high level of competition among pharmacies in the country. In order to attract customers, pharmacies in Gabon have been focusing on providing high-quality services and a wide range of medications. Some pharmacies have also started offering additional services such as health consultations and wellness programs to differentiate themselves from their competitors.
Underlying macroeconomic factors: The growth of the Prescription Drugs (Pharmacies) market in Gabon is also influenced by several macroeconomic factors. The country has been experiencing steady economic growth, which has led to an increase in disposable income among the population. This has resulted in a higher spending capacity on healthcare, including prescription drugs. Additionally, the government of Gabon has been investing in the healthcare sector, which has improved the overall healthcare infrastructure in the country. This has further contributed to the growth of the market as customers now have better access to pharmacies and healthcare facilities. In conclusion, the Prescription Drugs (Pharmacies) market in Gabon is developing due to the increasing customer preferences for prescription drugs, the growing popularity of generic drugs and online pharmacies, the high level of competition among pharmacies, and the underlying macroeconomic factors such as economic growth and government investments in the healthcare sector.
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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