Key regions: Europe, United States, Canada, India, South Korea
The Analgesics (Pharmacies) market in Kuwait is experiencing steady growth due to several factors.
Customer preferences: Customers in Kuwait have a strong preference for analgesics purchased from pharmacies rather than other retail channels. This is mainly due to the trust and reliability associated with pharmacies, as they are seen as the most credible source for medication. Additionally, customers in Kuwait prefer over-the-counter analgesics that provide quick relief from pain without the need for a prescription. Convenience is also a key factor for customers, as they prefer to purchase analgesics from pharmacies that are easily accessible and offer a wide range of options.
Trends in the market: One of the major trends in the Analgesics (Pharmacies) market in Kuwait is the increasing demand for natural and herbal analgesics. Customers are becoming more conscious about the ingredients in the products they consume and are opting for natural alternatives to traditional analgesics. This trend is driven by a growing awareness of the potential side effects of synthetic analgesics and a desire for more holistic approaches to pain relief. Another trend in the market is the rising popularity of online pharmacies. Customers in Kuwait are increasingly turning to online platforms to purchase analgesics due to the convenience and wide range of options they offer. Online pharmacies provide customers with the ability to compare prices, read reviews, and have their purchases delivered directly to their doorstep. This trend is expected to continue as more customers embrace e-commerce and digital platforms.
Local special circumstances: One of the unique aspects of the Kuwaiti market is the high prevalence of chronic diseases, such as diabetes and cardiovascular diseases. These conditions often require long-term pain management, leading to a higher demand for analgesics. Additionally, the hot climate in Kuwait can exacerbate certain health conditions, leading to an increased need for pain relief.
Underlying macroeconomic factors: Kuwait has a high per capita income and a strong healthcare system, which contributes to the growth of the Analgesics (Pharmacies) market. The country has a well-established network of pharmacies and a high level of healthcare expenditure, ensuring easy accessibility to analgesics for the population. Furthermore, the government's focus on healthcare infrastructure development and the increasing health consciousness among the population are driving the growth of the market. In conclusion, the Analgesics (Pharmacies) market in Kuwait is growing steadily due to customer preferences for pharmacy purchases, trends such as the demand for natural analgesics and the rise of online pharmacies, local special circumstances such as the prevalence of chronic diseases, and underlying macroeconomic factors such as high per capita income and a strong healthcare system.
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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