Key regions: South Korea, Japan, Europe, Brazil, United Kingdom
The Other Pharmaceuticals market in Central & Western Europe has been experiencing significant growth in recent years.
Customer preferences: Customers in Central & Western Europe have been increasingly interested in alternative medicines and supplements, which has driven demand for Other Pharmaceuticals. Additionally, there has been a growing awareness of the importance of preventive healthcare, leading to an increase in the consumption of supplements and other non-prescription medications.
Trends in the market: Germany has been the largest market for Other Pharmaceuticals in Central & Western Europe, followed by France and the United Kingdom. In Germany, a key trend has been the increasing popularity of natural and herbal remedies, which has driven growth in the market for Other Pharmaceuticals. In France, the market has been driven by a growing interest in homeopathy and other alternative medicines. In the United Kingdom, the market has been driven by a growing aging population, which has led to increased demand for supplements and other non-prescription medications.
Local special circumstances: In Germany, the popularity of natural and herbal remedies can be attributed to the country's long tradition of using natural remedies for healthcare. In France, the interest in homeopathy and alternative medicines can be traced back to the country's cultural heritage and the influence of key figures such as Samuel Hahnemann, the founder of homeopathy. In the United Kingdom, the growing aging population has been a result of improved healthcare and living standards, which has led to increased demand for supplements and other non-prescription medications.
Underlying macroeconomic factors: The growth of the Other Pharmaceuticals market in Central & Western Europe can be attributed to a number of underlying macroeconomic factors. These include the region's aging population, which has led to increased demand for healthcare products, as well as the growing trend towards preventive healthcare. Additionally, the region's high healthcare expenditures have led to increased demand for cost-effective healthcare solutions, which has driven growth in the market for Other Pharmaceuticals. Finally, the region's strong economy and high levels of disposable income have made it possible for consumers to afford higher-priced healthcare products, further driving growth in the market.
Data coverage:
Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. 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 particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.Additional notes:
Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.
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