Market Insights Health Pharmacies OTC Products

Pharmacy Usual Items - Americas

Americas

Revenue in the Pharmacy Usual Items market is projected to reach US$25.07bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.95%, resulting in a market volume of US$29.27bn by 2028.
In global comparison, most revenue will be generated in China (US$48,050.00m in 2024).
In relation to total population figures, per person revenues of US$24.65 are generated in 2024.

Key regions: Canada, United States, France, South Korea, India

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Analyst Opinion

The Pharmacy Usual Items market in Americas is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory. Customer preferences in the Pharmacy Usual Items market in Americas have shifted towards a focus on health and wellness. With increasing awareness about the importance of maintaining good health, customers are seeking out products that can help them achieve and maintain optimal well-being. This includes a wide range of items such as vitamins, supplements, over-the-counter medications, and personal care products. The demand for these products is driven by the desire to take proactive steps towards improving and maintaining health. Trends in the market reflect the growing interest in natural and organic products. Customers are increasingly looking for products that are made from natural ingredients and free from harmful chemicals. This trend is influenced by a greater emphasis on sustainability and environmental consciousness. As a result, there has been an increase in the availability and variety of natural and organic products in the Pharmacy Usual Items market in Americas. Local special circumstances also play a role in the development of the Pharmacy Usual Items market in Americas. For example, in some countries, there may be a higher prevalence of certain health conditions or diseases, which drives the demand for specific types of pharmacy items. Additionally, cultural and societal factors can influence customer preferences and purchasing decisions. For instance, in certain countries, there may be a strong tradition of using herbal remedies and traditional medicine, leading to a higher demand for these types of products. Underlying macroeconomic factors also contribute to the growth and development of the Pharmacy Usual Items market in Americas. Economic stability and increasing disposable incomes enable customers to spend more on healthcare products. Additionally, advancements in technology and e-commerce have made it easier for customers to access and purchase pharmacy items, further driving market growth. In conclusion, the Pharmacy Usual Items market in Americas is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The focus on health and wellness, the demand for natural and organic products, local health conditions and cultural factors, as well as economic stability and technological advancements, all contribute to the positive trajectory of this market.

Methodology

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.