Key regions: United Kingdom, Canada, France, Europe, Japan
The Other OTC Pharmaceuticals (Pharmacies) market in Europe is experiencing significant growth and development due to various factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trend. Customer preferences play a crucial role in the growth of the Other OTC Pharmaceuticals (Pharmacies) market in Europe. Consumers are increasingly seeking convenience and accessibility when it comes to healthcare products. The ability to purchase over-the-counter medications and other pharmaceutical products directly from pharmacies without a prescription is highly appealing to customers. This convenience factor has led to an increase in demand for OTC pharmaceuticals in Europe. Trends in the market also contribute to the growth and development of the Other OTC Pharmaceuticals (Pharmacies) market in Europe. One notable trend is the rising awareness and focus on self-care and self-medication. With easy access to information and a desire for more control over their own health, consumers are turning to OTC pharmaceuticals to address minor ailments and manage their health proactively. This trend is driving the demand for OTC products in Europe. Local special circumstances further contribute to the growth of the Other OTC Pharmaceuticals (Pharmacies) market in Europe. In many European countries, the healthcare system is designed to encourage self-care and reduce the burden on primary care providers. This includes allowing pharmacies to dispense certain medications without a prescription. This unique circumstance enables pharmacies to play a more significant role in the distribution of OTC pharmaceuticals, further driving market growth. Underlying macroeconomic factors also play a role in the development of the Other OTC Pharmaceuticals (Pharmacies) market in Europe. The overall economic stability and increasing disposable income in many European countries have contributed to the growth of the market. As consumers have more purchasing power, they are more likely to invest in OTC pharmaceuticals to address their healthcare needs. In conclusion, the Other OTC Pharmaceuticals (Pharmacies) market in Europe is experiencing growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The convenience and accessibility of OTC pharmaceuticals, the rising trend of self-care, the unique role of pharmacies, and the overall economic stability in Europe all contribute to this positive trend. As these factors continue to drive demand, the market is expected to further expand in the coming years.
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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