Market Insights Health OTC Pharmaceuticals

Analgesics - South Africa

South Africa

In South Africa, the revenue generated in the Analgesics market in 2024 amounts to US$170.40m.
It is projected that the market will experience an annual growth rate of 4.98% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in the Analgesics market, with a total of US$7,243.00m in 2024.
In terms of per person revenues, in South Africa generates US$2.79 in 2024.
South Africa is witnessing a growing demand for analgesics in the OTC Pharmaceuticals market due to increasing awareness about self-medication.

Key regions: Canada, United States, United Kingdom, Australia, Germany

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Analyst Opinion

The Analgesics market in South Africa is experiencing significant growth and development due to various factors.

Customer preferences: In South Africa, customers have shown a strong preference for analgesics that provide effective pain relief and are easily accessible. They are particularly interested in products that offer quick relief from common ailments such as headaches, muscle aches, and joint pain. Customers also value affordability and are more likely to purchase analgesics that are reasonably priced. Additionally, there is a growing demand for natural and herbal-based analgesics as customers become more conscious of the ingredients and potential side effects of traditional pharmaceutical products.

Trends in the market: One of the key trends in the Analgesics market in South Africa is the increasing availability and popularity of over-the-counter (OTC) analgesics. This trend is driven by the convenience and accessibility of OTC products, which can be purchased without a prescription. As a result, customers are more likely to self-medicate and rely on OTC analgesics for pain relief. This trend is further supported by the expansion of pharmacies and retail outlets that stock a wide range of analgesic products.Another trend in the market is the rise of e-commerce platforms for purchasing analgesics. Online shopping has gained significant traction in South Africa, and customers are increasingly turning to online platforms to purchase their healthcare products, including analgesics. This trend is driven by the convenience of online shopping, which allows customers to compare prices, read reviews, and have products delivered directly to their doorstep.

Local special circumstances: South Africa has a high prevalence of chronic diseases such as HIV/AIDS, diabetes, and cardiovascular diseases. These conditions often require long-term pain management, leading to a higher demand for analgesics. Additionally, the country has a large population of manual laborers who are more prone to musculoskeletal injuries and require analgesics for pain relief. These local circumstances contribute to the growth of the Analgesics market in South Africa.

Underlying macroeconomic factors: South Africa has been experiencing steady economic growth, which has led to an increase in disposable income among the population. As a result, customers have more purchasing power and are able to afford analgesics. Furthermore, the country has a well-established healthcare system that provides access to healthcare services and medications, including analgesics. This infrastructure supports the growth of the Analgesics market in South Africa.In conclusion, the Analgesics market in South Africa is developing due to customer preferences for effective and accessible pain relief, the increasing availability of OTC analgesics, the rise of e-commerce platforms, local special circumstances such as the prevalence of chronic diseases and a large population of manual laborers, and underlying macroeconomic factors such as steady economic growth and a well-established healthcare system.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. 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 particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.