The Prescription Drugs (Pharmacies) market in Portugal has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences have played a crucial role in shaping the Prescription Drugs (Pharmacies) market in Portugal. With an aging population, there has been an increased demand for prescription drugs to manage chronic conditions and maintain overall health. Additionally, consumers have become more health-conscious and are seeking preventive measures, leading to a higher demand for prescription drugs. Furthermore, the convenience of purchasing prescription drugs from pharmacies has also contributed to the market growth. Several trends have emerged in the Prescription Drugs (Pharmacies) market in Portugal. One significant trend is the increasing popularity of online pharmacies. With the advancement of technology and the ease of online shopping, consumers are turning to online platforms to purchase their prescription drugs. This trend has been further accelerated by the COVID-19 pandemic, which has limited physical interactions and increased the reliance on e-commerce. Another trend is the growing focus on personalized medicine. With advancements in genetic testing and precision medicine, there is a shift towards tailoring prescription drugs to individual patients, leading to more targeted and effective treatments. Local special circumstances have also influenced the development of the Prescription Drugs (Pharmacies) market in Portugal. The country has a well-established healthcare system, with a strong emphasis on primary care and community pharmacies. This infrastructure has facilitated the accessibility and availability of prescription drugs to the population. Additionally, Portugal has implemented policies to promote the use of generic drugs, which has helped to lower healthcare costs and increase the affordability of prescription medications. Underlying macroeconomic factors have also contributed to the growth of the Prescription Drugs (Pharmacies) market in Portugal. The country has experienced steady economic growth in recent years, which has resulted in an increase in disposable income. As a result, consumers have more purchasing power to spend on prescription drugs. Furthermore, Portugal has a universal healthcare system that provides coverage for prescription medications, ensuring that the majority of the population has access to necessary drugs. In conclusion, the Prescription Drugs (Pharmacies) market in Portugal has experienced significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The aging population, increased health consciousness, and convenience of purchasing prescription drugs from pharmacies have driven customer preferences. The rise of online pharmacies and personalized medicine are notable trends in the market. The well-established healthcare system and policies promoting the use of generic drugs are local special circumstances that have contributed to the market growth. Finally, steady economic growth and universal healthcare coverage have provided the necessary conditions for the development of the Prescription Drugs (Pharmacies) market in Portugal.
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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