Market Insights Health Pharmacies OTC Products

Pharmacy Usual Items - Japan

Japan

Revenue in the Pharmacy Usual Items market is projected to reach €3.25bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -4.66%, resulting in a market volume of €2.56bn by 2029.
In global comparison, most revenue will be generated in China (€44,560.00m in 2024).
In relation to total population figures, per person revenues of €26.50 are generated in 2024.

Key regions: Japan, France, China, Australia, Europe

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Analyst Opinion

The Pharmacy Usual Items market in Japan 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 trend. Customer preferences play a crucial role in the development of the Pharmacy Usual Items market in Japan. Japanese consumers have a strong inclination towards health and wellness, and they prioritize preventive healthcare. As a result, there is a growing demand for over-the-counter medications, vitamins, supplements, and other healthcare products. Additionally, Japanese consumers value convenience and efficiency, which has led to an increase in online purchases of pharmacy usual items. Trends in the market are also driving the growth of the Pharmacy Usual Items market in Japan. One notable trend is the aging population in Japan. As the population ages, there is a higher demand for healthcare products and medications to manage age-related conditions. This has led to an increase in the sales of pharmacy usual items such as pain relievers, joint supplements, and eye care products. Another trend is the growing focus on natural and organic products. Japanese consumers are increasingly seeking out natural alternatives to traditional medications, leading to a rise in the sales of herbal remedies and natural supplements. Local special circumstances further contribute to the development of the Pharmacy Usual Items market in Japan. The country has a well-established healthcare system and a high level of trust in pharmacies and pharmacists. This trust in the healthcare system and the accessibility of pharmacies make it easier for consumers to purchase pharmacy usual items. Additionally, the Japanese government has implemented policies to promote preventive healthcare and self-medication, which has further boosted the demand for pharmacy usual items. Underlying macroeconomic factors also play a role in the growth of the Pharmacy Usual Items market in Japan. The country has a stable economy and a high standard of living, which allows consumers to afford healthcare products and medications. Furthermore, the government has implemented policies to support the healthcare industry, including the promotion of generic drugs and the expansion of healthcare coverage. These factors contribute to the overall growth and development of the Pharmacy Usual Items market in Japan. In conclusion, the Pharmacy Usual Items market in Japan is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The strong focus on health and wellness, aging population, demand for natural products, trust in the healthcare system, and government policies all contribute to the positive trend in 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.