Key regions: United Kingdom, Canada, France, Europe, Japan
The Other OTC Pharmaceuticals (Pharmacies) market in EU-27 is witnessing significant growth and development in recent years.
Customer preferences: Consumers in the EU-27 region have shown a growing preference for over-the-counter (OTC) pharmaceutical products purchased from pharmacies. This is primarily driven by the convenience and accessibility offered by pharmacies, as well as the trust and reliability associated with these establishments. Customers value the professional advice and guidance provided by pharmacists, which helps them make informed decisions about their healthcare needs. Additionally, the increasing trend of self-medication and the desire for quick relief from common ailments are also contributing to the growing demand for OTC pharmaceutical products in pharmacies.
Trends in the market: One of the key trends in the Other OTC Pharmaceuticals (Pharmacies) market in EU-27 is the expanding product range offered by pharmacies. Pharmacies are increasingly stocking a wide variety of OTC pharmaceutical products to cater to the diverse needs of their customers. This includes products for pain relief, cough and cold, allergies, digestive health, skincare, and more. The availability of a comprehensive range of products ensures that customers can find the right solution for their specific health concerns. Another notable trend is the growing popularity of natural and herbal OTC pharmaceutical products. Consumers in the EU-27 region are becoming more conscious about their health and are seeking natural alternatives to traditional pharmaceuticals. This trend is driving the demand for herbal supplements, homeopathic remedies, and natural skincare products in pharmacies.
Local special circumstances: The Other OTC Pharmaceuticals (Pharmacies) market in EU-27 is influenced by local regulations and policies. Each country within the EU-27 has its own set of regulations governing the sale and distribution of OTC pharmaceutical products. These regulations ensure the safety and quality of the products available in pharmacies, providing customers with peace of mind when purchasing OTC pharmaceuticals. Additionally, the presence of national healthcare systems in some countries may also influence the market dynamics, as they may have specific guidelines or restrictions on the availability and pricing of OTC pharmaceutical products.
Underlying macroeconomic factors: The growth of the Other OTC Pharmaceuticals (Pharmacies) market in EU-27 is supported by several macroeconomic factors. The increasing healthcare expenditure and rising disposable incomes in the region have contributed to the affordability and accessibility of OTC pharmaceutical products. Additionally, the aging population in many EU-27 countries has led to a higher demand for OTC pharmaceuticals, as older individuals often require medications for chronic conditions and common ailments. The overall economic stability and consumer confidence in the EU-27 region have also played a role in driving the growth of the market. In conclusion, the Other OTC Pharmaceuticals (Pharmacies) market in EU-27 is experiencing growth and development due to customer preferences for convenience and professional advice, expanding product ranges, and the popularity of natural and herbal products. Local regulations and national healthcare systems influence the market dynamics, while underlying macroeconomic factors such as healthcare expenditure and aging population support the market's growth.
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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