Market Insights Health OTC Pharmaceuticals

Analgesics - Southern Europe

Southern Europe

In Southern Europe, the revenue generated in the Analgesics market amounts to US$1.92bn in 2024.
It is projected to experience an annual growth rate of 5.51% (CAGR 2024-2029).
When comparing this market to other regions globally, the in the United States generates the highest revenue with a total of US$7,243.00m in 2024.
In terms of per person revenues, in Southern Europe generates US$8.13 per person in 2024.
In Southern Europe, Spain has seen a rising trend in the demand for natural and herbal analgesics in the OTC pharmaceuticals market.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Analgesics market in Southern Europe is experiencing significant growth due to several factors. Customer preferences for over-the-counter pain relief medications, increasing healthcare awareness, and the presence of local special circumstances are driving the market trends in the region. Additionally, underlying macroeconomic factors play a crucial role in shaping the development of the Analgesics market in Southern Europe.Customer preferences in Southern Europe are shifting towards over-the-counter pain relief medications. Consumers are increasingly seeking self-medication options for minor aches and pains, which has led to a rise in demand for analgesics. This preference for convenience and accessibility is driving the growth of the market in the region.Trends in the Analgesics market in Southern Europe include the introduction of innovative products and the expansion of distribution channels. Pharmaceutical companies are constantly developing new formulations and delivery methods to cater to the evolving needs of consumers. This trend is driving competition in the market and encouraging companies to invest in research and development.Local special circumstances, such as the aging population and the prevalence of chronic pain conditions, are also contributing to the growth of the Analgesics market in Southern Europe. As the population ages, the demand for pain relief medications is expected to increase. Additionally, the high prevalence of chronic pain conditions, such as arthritis and back pain, further drives the demand for analgesics in the region.Underlying macroeconomic factors, such as increasing healthcare expenditure and improving healthcare infrastructure, are supporting the growth of the Analgesics market in Southern Europe. Governments in the region are investing in healthcare systems, which includes improving access to medications. This investment is expected to drive the demand for analgesics as healthcare services become more accessible to the population.In conclusion, the Analgesics market in Southern Europe is experiencing growth due to customer preferences for over-the-counter pain relief medications, the introduction of innovative products, local special circumstances such as an aging population and the prevalence of chronic pain conditions, and underlying macroeconomic factors such as increasing healthcare expenditure. These factors are shaping the development of the market in the region and are expected to continue driving its growth in the future.

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.