The Prescription Drugs (Pharmacies) market in Iran has been experiencing significant growth in recent years.
Customer preferences: Iran has a large population with a growing middle class, which has led to an increased demand for prescription drugs. Customers are becoming more health-conscious and are seeking out medications to treat a variety of conditions. Additionally, the aging population in Iran has resulted in a higher demand for prescription drugs to manage chronic illnesses.
Trends in the market: One of the key trends in the Prescription Drugs (Pharmacies) market in Iran is the increasing popularity of online pharmacies. With the advent of technology, customers are now able to conveniently order their medications online and have them delivered to their doorstep. This trend has been particularly popular among younger generations who are tech-savvy and prefer the convenience of online shopping. Online pharmacies also offer a wider range of products and competitive pricing, which has attracted customers away from traditional brick-and-mortar pharmacies. Another trend in the market is the growing focus on generic drugs. Generic drugs are more affordable compared to their branded counterparts, making them a preferred choice for cost-conscious customers. The Iranian government has also been promoting the use of generic drugs as a way to reduce healthcare costs. This has led to an increase in the production and availability of generic drugs in the market.
Local special circumstances: Iran has a well-established healthcare system, with a large number of pharmacies spread across the country. Pharmacies in Iran are regulated by the Ministry of Health and Medical Education, ensuring that customers have access to safe and quality medications. The government also provides subsidies for certain prescription drugs, making them more affordable for customers.
Underlying macroeconomic factors: Iran has experienced economic challenges in recent years due to international sanctions and political instability. However, the Prescription Drugs (Pharmacies) market has remained resilient and continues to grow. This can be attributed to the essential nature of prescription drugs and the fact that healthcare is a priority for individuals, regardless of the economic situation. Additionally, the government's focus on improving healthcare infrastructure and access to medications has contributed to the growth of the market. In conclusion, the Prescription Drugs (Pharmacies) market in Iran is experiencing growth due to increasing customer preferences for online pharmacies, a growing demand for generic drugs, and the government's focus on improving healthcare infrastructure. Despite economic challenges, the market remains resilient and continues to provide essential medications to the 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.
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