Market Insights Health Pharmacies OTC Products

Pharmacy Usual Items - Ireland

Ireland

Revenue in the Pharmacy Usual Items market is projected to reach US$186.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.69%, resulting in a market volume of US$232.50m 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$36.61 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 Ireland is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory. Customer preferences in the Pharmacy Usual Items market in Ireland have shifted towards a greater emphasis on health and wellness. Consumers are becoming more proactive in managing their health and are seeking out products that promote overall well-being. This includes a growing demand for vitamins, supplements, and natural health remedies. Additionally, there is an increased focus on personal care and beauty products, as individuals prioritize self-care and grooming. Trends in the market reflect these changing customer preferences. Pharmacies in Ireland are expanding their offerings to cater to the growing demand for health and wellness products. They are stocking a wider range of vitamins, supplements, and natural remedies, as well as partnering with beauty brands to offer a curated selection of personal care products. Pharmacies are also investing in digital platforms to provide convenient online shopping options and personalized recommendations. Local special circumstances contribute to the development of the Pharmacy Usual Items market in Ireland. The country has a strong healthcare system that emphasizes community pharmacies as a primary point of care. This has created a trusted relationship between consumers and their local pharmacies, making them a natural choice for purchasing usual items. Additionally, Ireland has a high rate of chronic diseases, such as diabetes and cardiovascular conditions, which drive the demand for medications and health products. Underlying macroeconomic factors also play a role in the growth of the Pharmacy Usual Items market in Ireland. The country has a stable economy with a growing middle class that has disposable income to spend on healthcare and wellness products. Furthermore, the aging population in Ireland is increasing, leading to a higher demand for medications and health-related products. In conclusion, the Pharmacy Usual Items market in Ireland is developing due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As consumers prioritize health and wellness, pharmacies are expanding their offerings to meet this demand. The strong healthcare system, high rate of chronic diseases, stable economy, and aging population all contribute to the growth of the 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.