Care Products market in Cyprus

The Cypriot Care Products eCommerce market is predicted to reach US$51.2 million by 2024 and accounts for 9.3% of the total eCommerce market in Cyprus. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 2.5%, resulting in a projected market volume of US$56.5 million by 2028. Within the Care Products market ECDB considers the following three sub-markets: Personal Care, Health Care, and Household Care.

Market development

eCommerce revenue development in the Pharmaceuticals market in Cyprus

The Cypriot Pharmaceuticals eCommerce market is predicted to reach US$8.8 million by 2024 and accounts for 38.8% of the Health Care eCommerce market in Cyprus. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 5.3%, resulting in a projected market volume of US$10.8 million by 2028. The Pharmaceuticals eCommerce market is a sub-market of the Health Care market. Further categories within the Health Care market are: Eye Care, Medical Products, Nutrition, and Other Health Care.

eCommerce revenue development in the Pharmaceuticals market in Cyprus

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Pharmaceuticals market in Cyprus

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

201720182019202020212022202320242025202620272028
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)60.147.617.356.78.56.021.614.0
as of Health Care (in %)19.620.020.821.320.421.321.722.022.322.522.923.2

Online share

eCommerce online share of the total Pharmaceuticals market in Cyprus

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Cypriot Pharmaceuticals retail market, the online share is 15.2% and will increase by an average of 5.8% to 19.0% by 2028.

eCommerce online share of the total Pharmaceuticals market in Cyprus

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)61.4%14.4%82.6%65.0%53.8%24.5%46.8%70.6%

Market definition

Definition of the Pharmaceuticals market within the Care Products market

Market definition: Care Products > Health Care > Pharmaceuticals The category Pharmaceuticals includes the online trade of perscription pharmaceuticals and otc pharmaceuticals. This category does not cover medical supplies and medical consultations and health assessments. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Perscription pharmaceuticals
  • OTC pharmaceuticals

Out-of-scope

  • Medical supplies
  • Medical consultations and health assessments

Market comparison

The Cypriot Pharmaceuticals market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis

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