Pharmacies - Ukraine | Statista Market Forecast

In Ukraine, the revenue in the Pharmacies market is estimated to reach US$1.77bn in 2024.
It is predicted that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of -0.21%, resulting in a market volume of US$1.75bn by 2029.
When compared globally, United States is expected to generate the highest revenue of US$387.30bn in 2024.
Looking at the per person figures, in Ukraine, each individual is projected to generate revenues of US$46.59 in 2024.
In Ukraine, pharmacies are experiencing a surge in demand for over-the-counter medication due to a growing concern for self-medication among the population.

Definition:
Pharmacies are physical or digital places where mainly pharmaceuticals and medical products are sold. Additionally, they also sell other items that are generally found in a pharmacy, such as food supplements, cosmetic products, and other health-related goods. A large proportion of pharmaceuticals are only available on prescription; the rest of the product range of pharmacies is sold over the counter (OTC). Besides selling products, pharmacies also advise customers, inform them about undesirable effects of the products, and detect possible interactions with other medicines.

Structure:
The Pharmacies market consists of two markets: Prescriptions Drugs and OTC Products. The Prescription Drugs market covers all products – mainly pharmaceuticals – that are only available on prescription. The OTC Products market comprises all products that are sold over the counter (OTC), including pharmaceuticals, medical devices, and other items that are generally found in a pharmacy.

Additional information:
The KPIs shown include revenue, revenue growth, average revenue per pharmacy, average revenue per capita, number of pharmacies, pharmacy density, users, and the online sales share for the OTC Products market. Revenues are generated through offline and online spending by (B2C) consumers and include VAT. B2B and B2G sales as well as other pharmaceutical sales through hospitals or retail stores, such as supermarkets, are not included.
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Prescription pharmaceuticals
Prescription medical products
OTC pharmaceuticals
OTC medical products
Pharmacy-usual items

Services such as vaccinations
Sales through hospitals or retail stores

The Pharmacies market in Ukraine is experiencing significant growth and development.

Customer preferences: Customers in Ukraine are increasingly seeking convenience and accessibility when it comes to healthcare services. This has led to a growing demand for pharmacies that offer a wide range of products and services, including prescription medications, over-the-counter drugs, and health and wellness products. Customers also value pharmacies that provide personalized advice and guidance on medication usage and health management.

Trends in the market: One of the key trends in the Ukrainian Pharmacies market is the increasing focus on e-commerce and online sales. With the growing penetration of internet and smartphones in the country, more and more customers are turning to online platforms to purchase their medications and healthcare products. This trend is driven by the convenience and ease of online shopping, as well as the availability of a wider range of products compared to traditional brick-and-mortar pharmacies. Another trend in the market is the growing demand for natural and organic healthcare products. Customers in Ukraine are becoming more health-conscious and are seeking products that are free from harmful chemicals and additives. This has led to an increase in the availability and popularity of natural and organic products in pharmacies across the country.

Local special circumstances: The Ukrainian Pharmacies market is also influenced by local special circumstances. The country has a universal healthcare system, which means that a significant portion of prescription medications are subsidized by the government. This has led to a high demand for prescription medications, as they are more affordable for customers. Additionally, the government has implemented regulations to ensure the quality and safety of medications sold in pharmacies, which has further boosted customer confidence in the market.

Underlying macroeconomic factors: Several macroeconomic factors are driving the growth of the Pharmacies market in Ukraine. The country has a large population with increasing disposable incomes, which has led to higher healthcare spending. Additionally, the aging population in Ukraine is contributing to the growth of the market, as older individuals tend to have higher healthcare needs. Furthermore, the government's focus on improving healthcare infrastructure and services is also supporting the growth of the Pharmacies market. In conclusion, the Pharmacies market in Ukraine is experiencing growth and development due to customer preferences for convenience and accessibility, the increasing focus on e-commerce and online sales, the demand for natural and organic healthcare products, local special circumstances such as the universal healthcare system and government regulations, and underlying macroeconomic factors such as population growth and increasing disposable incomes.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.