Key regions: Europe, United States, Canada, India, South Korea
The Analgesics (Pharmacies) market in Burundi has been experiencing significant growth in recent years.
Customer preferences: Burundian consumers have shown a growing preference for analgesics purchased from pharmacies rather than other retail channels. This is due to the perception that pharmacies offer a wider range of high-quality products and professional advice from trained pharmacists. Additionally, customers value the convenience of being able to purchase analgesics alongside other healthcare products in one location.
Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in Burundi is the increasing demand for over-the-counter (OTC) analgesics. This can be attributed to several factors. Firstly, there is a growing awareness among consumers about self-medication and the availability of OTC analgesics for common ailments such as headache and muscle pain. Secondly, the rising healthcare costs and limited access to healthcare facilities in certain areas have led consumers to rely more on self-care and OTC analgesics. Another trend in the market is the growing demand for natural and herbal analgesics. Burundian consumers are becoming more health-conscious and are seeking alternative remedies that have fewer side effects. This trend is in line with the global shift towards natural and organic products. Pharmacies in Burundi have responded to this demand by expanding their range of natural and herbal analgesics.
Local special circumstances: Burundi is a landlocked country with a relatively small population and limited healthcare infrastructure. As a result, pharmacies play a crucial role in providing access to healthcare products, including analgesics. They serve as a primary source of healthcare for many Burundians, especially those in rural areas who may not have easy access to hospitals or clinics.
Underlying macroeconomic factors: The Analgesics (Pharmacies) market in Burundi is also influenced by several macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and improved living standards. This has contributed to the growing demand for healthcare products, including analgesics. Furthermore, the government of Burundi has implemented policies to improve the healthcare sector, including the regulation of pharmaceutical products and the training of pharmacists. These initiatives have helped to enhance the quality and availability of analgesics in pharmacies, further driving market growth. In conclusion, the Analgesics (Pharmacies) market in Burundi is developing due to customer preferences for pharmacy channels, the increasing demand for OTC and natural analgesics, the role of pharmacies in providing access to healthcare, and the underlying macroeconomic factors such as economic growth and government policies.
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.
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