The Prescription Drugs (Pharmacies) market in Kazakhstan is experiencing significant growth due to various factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the development of the market.
Customer preferences: Customers in Kazakhstan have shown a growing preference for prescription drugs from pharmacies. This can be attributed to several reasons. Firstly, there is an increasing awareness among the population about the importance of healthcare and the need for prescription drugs to treat various medical conditions. Secondly, the convenience of purchasing prescription drugs from pharmacies, where trained pharmacists are available to provide guidance and advice, is highly valued by customers. Lastly, the wide range of prescription drugs available in pharmacies allows customers to choose the most suitable medication for their specific needs.
Trends in the market: One of the key trends in the Prescription Drugs (Pharmacies) market in Kazakhstan is the increasing demand for generic drugs. This can be attributed to the rising healthcare costs and the need for affordable medication. Generic drugs are often priced lower than their branded counterparts, making them more accessible to a larger population. Additionally, the government has implemented policies to promote the use of generic drugs, further driving their demand in the market. Another trend in the market is the growing popularity of online pharmacies. With the advancement of technology and increased internet penetration, customers are now able to purchase prescription drugs online. This provides convenience and accessibility, especially for customers in remote areas who may have limited access to physical pharmacies. Online pharmacies also offer competitive pricing and discounts, attracting a larger customer base.
Local special circumstances: Kazakhstan has a rapidly aging population, which contributes to the increased demand for prescription drugs. As people age, they are more likely to develop chronic illnesses and require ongoing medication. This demographic shift has led to a higher demand for prescription drugs in the country. Additionally, the government of Kazakhstan has implemented healthcare reforms to improve the accessibility and affordability of prescription drugs. This includes the establishment of state-owned pharmacies that provide medication at subsidized prices, particularly for low-income individuals. These initiatives have helped to increase the availability of prescription drugs to a wider population.
Underlying macroeconomic factors: The overall economic growth of Kazakhstan has played a significant role in the development of the Prescription Drugs (Pharmacies) market. As the economy grows, individuals have higher disposable incomes, enabling them to afford prescription drugs. Additionally, increased government spending on healthcare and infrastructure development has further supported the growth of the market. In conclusion, the Prescription Drugs (Pharmacies) market in Kazakhstan is developing due to customer preferences for convenient access to prescription drugs, the growing demand for generic drugs, the popularity of online pharmacies, the aging population, government healthcare reforms, and the overall economic growth of the country. These factors collectively contribute to the expansion and evolution of the 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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