Key regions: South Korea, Japan, Europe, Brazil, United Kingdom
The Other Pharmaceuticals market in Mauritius has been experiencing significant growth over the past few years.
Customer preferences: Mauritius has a growing population that is becoming increasingly health-conscious. As a result, there is a growing demand for alternative medicines and natural remedies. Consumers are looking for products that are safe, effective, and affordable. They are also looking for products that are easy to access and purchase.
Trends in the market: One of the trends in the Other Pharmaceuticals market in Mauritius is the growing popularity of Ayurvedic medicine. Ayurvedic medicine is a traditional Indian medicine that uses natural remedies to treat various ailments. It is becoming more popular in Mauritius as consumers seek alternative treatments for their health concerns. Another trend in the market is the increasing availability of generic drugs. Generic drugs are cheaper than branded drugs and are becoming more widely available in Mauritius.
Local special circumstances: Mauritius is a small island nation with a diverse population. The country has a rich cultural heritage that includes traditional medicine practices. This has contributed to the growing popularity of alternative medicines in the country. Additionally, the government of Mauritius has taken steps to promote the use of alternative medicines. For example, the government has established an Ayurvedic hospital in the country to provide traditional Indian medicine treatments to patients.
Underlying macroeconomic factors: The growing Other Pharmaceuticals market in Mauritius can be attributed to several underlying macroeconomic factors. One of these factors is the country's growing economy. Mauritius has experienced steady economic growth over the past few years, which has led to an increase in disposable income. This has allowed consumers to spend more on healthcare products, including alternative medicines. Another factor is the country's aging population. As the population ages, there is a growing demand for healthcare products and services. This has contributed to the growth of the Other Pharmaceuticals market in Mauritius.
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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