Key regions: Europe, China, France, Germany, South Korea
The Vitamins & Minerals (Pharmacies) market in Russia has been experiencing steady growth in recent years, driven by several factors. Customer preferences have shifted towards a greater focus on health and wellness, leading to increased demand for vitamins and minerals. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the market. Customer preferences in Russia have evolved to prioritize health and wellness, leading to a greater emphasis on preventive healthcare. As consumers become more health-conscious, they are seeking ways to improve their overall well-being, including the use of vitamins and minerals. This trend is further fueled by the growing awareness of the importance of a balanced diet and the role of supplements in filling nutritional gaps. As a result, the demand for vitamins and minerals in pharmacies has been on the rise. Trends in the market also reflect the influence of global and regional developments. The growing aging population in Russia has led to an increased focus on healthcare and preventive measures. Older individuals are more likely to require supplements to support their overall health and address specific deficiencies. Additionally, the rising prevalence of chronic diseases has created a greater need for vitamins and minerals as part of disease management strategies. These factors have contributed to the growth of the Vitamins & Minerals (Pharmacies) market in Russia. Local special circumstances in Russia have also played a role in the development of the market. The country has a vast territory, with a significant portion of the population residing in remote areas. Access to healthcare services, including pharmacies, can be limited in these regions. As a result, pharmacies play a crucial role in providing essential healthcare products, including vitamins and minerals. The convenience and accessibility of pharmacies make them a preferred channel for purchasing these products, further driving the growth of the market. Underlying macroeconomic factors have also influenced the development of the Vitamins & Minerals (Pharmacies) market in Russia. The country has experienced economic growth in recent years, leading to an increase in disposable income. As consumers have more purchasing power, they are able to afford a wider range of healthcare products, including vitamins and minerals. Additionally, the government has implemented policies to promote a healthy lifestyle and preventive healthcare, further stimulating the demand for these products. In conclusion, the Vitamins & Minerals (Pharmacies) market in Russia is developing due to shifting customer preferences towards health and wellness, global and regional trends, local special circumstances, and underlying macroeconomic factors. As consumers prioritize their well-being and seek preventive healthcare, the demand for vitamins and minerals in pharmacies continues to grow.
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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