Prescription Drugs - Moldova

Moldova

In Moldova, the revenue in the Prescription Drugs market is forecasted to reach US$98.92m by 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 1.85%, resulting in a market volume of US$108.40m by 2029.
When compared globally, United States is projected to generate the highest revenue of US$358.90bn in 2024.
In terms of per person revenues, in Moldova is estimated to generate US$29.71 in 2024.
As a journalist with deep knowledge about history, facts, and insights, I can provide you with a country-specific statement about current trends in the prescription drugs market in Moldova: Moldova's prescription drugs market is experiencing a growing demand for affordable generic medications.

Key regions: Japan, China, Europe, Australia, Canada

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Analyst Opinion

The Prescription Drugs (Pharmacies) market in Moldova is experiencing steady growth, driven by several factors including customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Prescription Drugs (Pharmacies) market in Moldova are shifting towards convenience and accessibility. Consumers are increasingly seeking out pharmacies that offer a wide range of prescription drugs and over-the-counter medications, as well as additional services such as health consultations and home delivery. This trend is driven by the desire for a one-stop-shop experience, where customers can easily access all their healthcare needs in one place. In terms of market trends, there is a growing demand for generic drugs in Moldova. Generic drugs are more affordable alternatives to brand-name medications, and they are becoming increasingly popular among consumers who are looking to save money on their healthcare expenses. This trend is also supported by the government's efforts to promote the use of generic drugs as a cost-saving measure. Another trend in the Prescription Drugs (Pharmacies) market in Moldova is the increasing focus on e-commerce. Online pharmacies are gaining popularity among consumers who prefer the convenience of ordering medications from the comfort of their own homes. This trend is further accelerated by the COVID-19 pandemic, which has led to an increased reliance on online shopping for various products, including prescription drugs. Local special circumstances also play a role in the development of the Prescription Drugs (Pharmacies) market in Moldova. The country has a rapidly aging population, which is driving the demand for prescription drugs and healthcare services. As the elderly population increases, there is a greater need for pharmacies that can cater to their specific healthcare needs, such as providing medication management services and specialized consultations. Underlying macroeconomic factors also contribute to the growth of the Prescription Drugs (Pharmacies) market in Moldova. The country has been experiencing steady economic growth, which has resulted in an increase in disposable income and healthcare spending. As consumers have more money to spend on healthcare, they are more likely to purchase prescription drugs and other healthcare products and services. In conclusion, the Prescription Drugs (Pharmacies) market in Moldova is developing in response to customer preferences for convenience and accessibility, market trends such as the demand for generic drugs and the rise of e-commerce, local special circumstances including an aging population, and underlying macroeconomic factors such as economic growth and increased healthcare spending.

Methodology

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.