Key regions: United Kingdom, Canada, France, Europe, Japan
The Other OTC Pharmaceuticals (Pharmacies) market in Portugal has been experiencing significant development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this growth. Customer preferences in the Portuguese market have played a crucial role in the development of the Other OTC Pharmaceuticals (Pharmacies) market. Consumers in Portugal have shown a growing preference for self-medication and over-the-counter (OTC) products. This shift in consumer behavior can be attributed to several factors, including increased health awareness and accessibility to information through the internet. As a result, consumers are seeking remedies for common ailments and minor health issues at pharmacies rather than visiting doctors. This change in customer preferences has created a significant demand for OTC pharmaceuticals in Portugal. Trends in the market have also contributed to the growth of the Other OTC Pharmaceuticals (Pharmacies) market in Portugal. Pharmacies in the country have expanded their product offerings to cater to the rising demand for OTC pharmaceuticals. They now stock a wide range of products, including pain relievers, cough and cold medicines, digestive aids, and skincare products. Additionally, pharmacies have started offering personalized advice and recommendations to customers, further enhancing their appeal as a one-stop solution for minor health concerns. These trends have attracted more customers to pharmacies and contributed to the overall growth of the market. Local special circumstances in Portugal have also played a role in the development of the Other OTC Pharmaceuticals (Pharmacies) market. The country has a well-established network of pharmacies, with a high density of pharmacies per capita. This accessibility to pharmacies has made it convenient for consumers to purchase OTC pharmaceuticals. Furthermore, the Portuguese healthcare system allows for the reimbursement of certain OTC pharmaceuticals, making them more affordable for consumers. These local special circumstances have created a favorable environment for the growth of the market. Underlying macroeconomic factors have also influenced the development of the Other OTC Pharmaceuticals (Pharmacies) market in Portugal. The country has experienced steady economic growth in recent years, resulting in an increase in disposable income. This has allowed consumers to spend more on healthcare products, including OTC pharmaceuticals. Additionally, the aging population in Portugal has contributed to the growth of the market. As the population ages, there is a higher demand for healthcare products to manage age-related health issues, which includes OTC pharmaceuticals. In conclusion, the Other OTC Pharmaceuticals (Pharmacies) market in Portugal has experienced significant development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards self-medication, expanded product offerings, accessibility to pharmacies, and favorable economic conditions have all contributed to the growth of the market.
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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