The Prescription Drugs (Pharmacies) market in Iraq is experiencing significant growth due to several factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the development of this market. Customer preferences play a crucial role in the growth of the Prescription Drugs (Pharmacies) market in Iraq. Customers in Iraq are increasingly seeking convenience and accessibility when it comes to purchasing prescription drugs. They prefer to visit pharmacies that offer a wide range of medications and have knowledgeable staff who can provide guidance and recommendations. Additionally, customers are becoming more health-conscious and are actively seeking out pharmacies that offer wellness products and services. This shift in customer preferences has led to an increased demand for pharmacies that can cater to these needs. Trends in the market also contribute to the development of the Prescription Drugs (Pharmacies) market in Iraq. One notable trend is the increasing use of technology in pharmacies. Many pharmacies in Iraq are adopting digital solutions such as online ordering and delivery services, electronic health records, and mobile applications. These technological advancements not only enhance the customer experience but also improve operational efficiency for pharmacies. Another trend is the growing popularity of generic drugs. Customers are increasingly opting for generic medications due to their lower cost compared to branded drugs. This trend has led to an increased demand for pharmacies that offer a wide range of generic drugs. Local special circumstances in Iraq also impact the development of the Prescription Drugs (Pharmacies) market. The ongoing conflict and political instability in the country have resulted in a fragmented healthcare system. As a result, pharmacies play a crucial role in providing access to essential medications for the population. Additionally, the high prevalence of chronic diseases in Iraq, such as diabetes and cardiovascular diseases, has led to a higher demand for prescription drugs. This demand is further fueled by the lack of access to specialized healthcare facilities in certain regions of the country. Underlying macroeconomic factors also contribute to the growth of the Prescription Drugs (Pharmacies) market in Iraq. The country's population is growing, which leads to an increased demand for healthcare services, including prescription drugs. Furthermore, the government's focus on improving healthcare infrastructure and increasing healthcare spending has created opportunities for the expansion of the pharmacy sector. Additionally, the rising disposable income of the population has resulted in increased healthcare spending, including the purchase of prescription drugs. In conclusion, the Prescription Drugs (Pharmacies) market in Iraq is developing due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for convenience and accessibility, the adoption of technology, the popularity of generic drugs, the fragmented healthcare system, the high prevalence of chronic diseases, the growing population, the government's focus on healthcare, and the rising disposable income all contribute to the growth of this market.
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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