The Prescription Drugs (Pharmacies) market in Kenya is experiencing steady growth, driven by various factors such as increasing healthcare awareness, rising disposable income, and a growing elderly population.
Customer preferences: Customers in Kenya are increasingly seeking convenience and accessibility when it comes to purchasing prescription drugs. As a result, there has been a significant shift towards the use of pharmacies as the primary source of prescription drugs. This trend can be attributed to the convenience of having a wide range of medications available in one location, as well as the presence of trained pharmacists who can provide guidance and advice on medication usage.
Trends in the market: One of the key trends in the Prescription Drugs (Pharmacies) market in Kenya is the increasing demand for generic drugs. Generic drugs are more affordable compared to their branded counterparts, making them an attractive option for cost-conscious consumers. This trend is driven by the rising healthcare costs and the need for affordable medication options. Another trend in the market is the growing popularity of online pharmacies. With the increasing penetration of the internet and smartphones in Kenya, consumers are increasingly turning to online platforms to purchase prescription drugs. Online pharmacies offer convenience, competitive pricing, and a wide range of products, making them a preferred choice for many consumers.
Local special circumstances: Kenya has a unique healthcare landscape characterized by a mix of public and private healthcare providers. While the public healthcare system provides access to affordable medication, it often faces challenges such as stockouts and long waiting times. As a result, many consumers opt to purchase prescription drugs from private pharmacies, where they can receive immediate access to medication and personalized advice from pharmacists.
Underlying macroeconomic factors: The growth of the Prescription Drugs (Pharmacies) market in Kenya is also influenced by underlying macroeconomic factors. The country has been experiencing steady economic growth, resulting in an increase in disposable income. This has enabled more consumers to afford prescription drugs and contribute to the growth of the market. Furthermore, the aging population in Kenya is driving the demand for prescription drugs. As the population ages, the prevalence of chronic diseases and the need for long-term medication increases. This has created a growing market for prescription drugs, as pharmacies play a crucial role in providing access to medication for the elderly population. In conclusion, the Prescription Drugs (Pharmacies) market in Kenya is witnessing growth due to increasing healthcare awareness, rising disposable income, and a growing elderly population. Customer preferences are shifting towards convenience and accessibility, leading to the popularity of pharmacies as the primary source of prescription drugs. The market is also influenced by trends such as the demand for generic drugs and the rise of online pharmacies. The unique healthcare landscape in Kenya, characterized by a mix of public and private healthcare providers, further contributes to the growth 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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
