The Prescription Drugs (Pharmacies) market in Jordan has been experiencing significant growth in recent years.
Customer preferences: Customers in Jordan have shown a growing preference for prescription drugs purchased from pharmacies. This can be attributed to several factors. Firstly, pharmacies in Jordan are easily accessible, with a large number of outlets spread across the country. This convenience factor has made pharmacies the preferred choice for customers seeking prescription drugs. Additionally, pharmacies in Jordan are known for their knowledgeable and professional staff who can provide guidance and advice on medication usage. This personalized service has further contributed to the popularity of pharmacies among customers.
Trends in the market: One of the key trends in the Prescription Drugs (Pharmacies) market in Jordan is the increasing demand for generic drugs. Generic drugs are more affordable compared to branded drugs, making them a preferred choice for customers looking to save on healthcare expenses. The Jordanian government has also been promoting the use of generic drugs through various initiatives, further driving their demand in the market. This trend is expected to continue in the coming years, as customers become more price-conscious and look for cost-effective healthcare options. Another trend in the market is the growing focus on online pharmacies. With the increasing penetration of the internet and smartphones in Jordan, customers are increasingly turning to online platforms to purchase prescription drugs. Online pharmacies offer the convenience of home delivery and the ability to compare prices and product options. This trend is expected to gain momentum in the future, as more customers embrace digital solutions for their healthcare needs.
Local special circumstances: Jordan has a well-developed healthcare system, with a strong emphasis on pharmaceuticals. The country has a large number of pharmaceutical manufacturing companies, producing a wide range of drugs. This local production capability has helped meet the demand for prescription drugs in the market and has also contributed to the affordability of medication. Additionally, Jordan has a robust regulatory framework for pharmaceuticals, ensuring the quality and safety of drugs available in the market. These local special circumstances have played a significant role in the development of the Prescription Drugs (Pharmacies) market in Jordan.
Underlying macroeconomic factors: Several macroeconomic factors have contributed to the growth of the Prescription Drugs (Pharmacies) market in Jordan. Firstly, the country has a growing population, which has increased the demand for healthcare services, including prescription drugs. Additionally, Jordan has a high prevalence of chronic diseases, such as diabetes and cardiovascular diseases, which require long-term medication. This has further fueled the demand for prescription drugs in the market. Furthermore, the government of Jordan has been investing in the healthcare sector, with a focus on improving access to quality healthcare services. This investment has created a favorable environment for the growth of the Prescription Drugs (Pharmacies) market in Jordan. In conclusion, the Prescription Drugs (Pharmacies) market in Jordan has been experiencing significant growth due to customer preferences for accessible and knowledgeable pharmacy services, the increasing demand for generic drugs, the rise of online pharmacies, local special circumstances such as a well-developed healthcare system and robust regulatory framework, and underlying macroeconomic factors such as a growing population and government investment in healthcare. This market is expected to continue its growth trajectory 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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