Pharmacies - Qatar

Qatar

The Pharmacies market in Qatar is set to witness remarkable growth in the coming years.
According to projections, the revenue is expected to reach QAR US$1.60bn by 2024.
This indicates a positive trend for the industry.
Furthermore, there is an estimated annual growth rate (CAGR 2024-2029) of 4.56%, which will lead to a market volume of QAR US$2.00bn by 2029.
This demonstrates the potential for sustained expansion in the market.
When compared globally, it is worth noting that United States is anticipated to generate the highest revenue in the Pharmacies market, reaching a staggering amount of US$387.30bn by 2024.
This highlights the dominant position of the United States in the industry.
To put the revenue figures into perspective, in 2024, the per person revenue in Qatar's Pharmacies market is projected to be QAR US$0.58k.
This metric provides insights into the economic impact of the industry on an individual basis.
Overall, the Pharmacies market in Qatar is poised for significant growth, with substantial revenue projections and a positive outlook for the coming years.
Qatar's pharmacies are experiencing a surge in demand for high-quality pharmaceutical products due to the country's growing population and increasing health-consciousness.

Key regions: United States, China, Germany, Japan, Europe

Market

Region

Region comparison

Currency

Analyst Opinion

The Pharmacies market in Qatar has been experiencing significant growth in recent years.

Customer preferences: Customers in Qatar have shown a strong preference for pharmacies that offer a wide range of products and services. They value convenience and accessibility, and are willing to pay a premium for pharmacies that provide a comprehensive selection of medications, healthcare products, and wellness services. In addition, customers in Qatar are increasingly seeking out pharmacies that offer personalized and tailored healthcare solutions, such as medication management and chronic disease management programs.

Trends in the market: One of the key trends in the Pharmacies market in Qatar is the increasing adoption of digital technologies. Pharmacies are leveraging technology to enhance the customer experience, improve operational efficiency, and expand their reach. Online ordering and home delivery services have become increasingly popular, allowing customers to conveniently access medication and healthcare products from the comfort of their homes. In addition, digital platforms and mobile applications are being used to provide personalized healthcare advice and support, enabling customers to better manage their health and well-being. Another trend in the market is the growing focus on preventive healthcare. Pharmacies in Qatar are increasingly offering a range of wellness services, such as health screenings, vaccinations, and nutritional consultations. This shift towards preventive healthcare is driven by a growing awareness among customers about the importance of proactive health management and the benefits of early detection and intervention.

Local special circumstances: One of the unique aspects of the Pharmacies market in Qatar is the country's rapidly growing population. Qatar has seen a significant influx of expatriates in recent years, which has led to an increase in demand for healthcare services, including pharmacies. The government has recognized the importance of providing accessible and high-quality healthcare services to its residents, and has implemented initiatives to support the growth of the healthcare sector, including the expansion of healthcare facilities and the introduction of regulations to ensure the quality and safety of pharmaceutical products.

Underlying macroeconomic factors: The growth of the Pharmacies market in Qatar is also driven by favorable macroeconomic factors. Qatar has a high per capita income and a strong healthcare infrastructure, which supports the demand for pharmaceutical products and services. In addition, the government's focus on diversifying the economy and reducing reliance on oil revenues has led to increased investment in sectors such as healthcare, which has further boosted the growth of the Pharmacies market. In conclusion, the Pharmacies market in Qatar is experiencing significant growth, driven by customer preferences for convenience and personalized healthcare solutions, as well as the adoption of digital technologies and a focus on preventive healthcare. The country's growing population, favorable macroeconomic factors, and government support for the healthcare sector are also contributing to the development of the market.

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.