Key regions: United Kingdom, Canada, France, Europe, Japan
The Other OTC Pharmaceuticals (Pharmacies) market in Burundi is experiencing significant growth and development. Customer preferences in the Burundian market for Other OTC Pharmaceuticals (Pharmacies) are driven by several factors. Firstly, there is a growing demand for accessible healthcare products and services. As the healthcare infrastructure in Burundi continues to improve, more people are seeking over-the-counter medications and products to manage their health conditions. Additionally, there is a preference for affordable and convenient options, as many consumers in Burundi have limited financial resources and may not have easy access to healthcare facilities. Trends in the market show that there is a shift towards self-medication and self-care practices in Burundi. This is influenced by factors such as increased health awareness, a desire for convenience, and the availability of a wide range of over-the-counter products. Consumers are increasingly taking responsibility for their own health and are seeking out products that can help them manage common ailments and minor health issues. This trend is likely to continue as the Burundian population becomes more educated about health and wellness. Local special circumstances in Burundi also contribute to the development of the Other OTC Pharmaceuticals (Pharmacies) market. The country has a high prevalence of communicable diseases, such as malaria and HIV/AIDS, which require ongoing treatment and management. This creates a demand for over-the-counter medications and products that can help individuals prevent and manage these conditions. Additionally, the Burundian healthcare system is still developing, and there are limited resources and infrastructure to provide comprehensive healthcare services. As a result, over-the-counter medications and products play a crucial role in filling the gaps in healthcare provision. Underlying macroeconomic factors also play a role in the development of the Other OTC Pharmaceuticals (Pharmacies) market in Burundi. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and purchasing power. This has allowed more consumers to afford over-the-counter medications and products. Additionally, the government of Burundi has implemented policies to promote the healthcare sector, including the expansion of healthcare facilities and the improvement of healthcare services. These initiatives have created a favorable environment for the growth of the Other OTC Pharmaceuticals (Pharmacies) market. In conclusion, the Other OTC Pharmaceuticals (Pharmacies) market in Burundi is developing due to customer preferences for accessible and affordable healthcare products, the trend towards self-medication and self-care practices, local special circumstances such as the prevalence of communicable diseases, and underlying macroeconomic factors such as economic growth and government initiatives to promote the healthcare sector. This market is likely to continue growing as the Burundian population becomes more health-conscious and the healthcare infrastructure continues to improve.
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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