Key regions: Europe, United States, Canada, India, South Korea
The Analgesics (Pharmacies) market in Americas is experiencing significant growth due to several factors.
Customer preferences: Customers in the Americas have shown a strong preference for analgesics purchased from pharmacies. This preference can be attributed to the trust and reliability associated with pharmacies, as well as the convenience of purchasing these products alongside other healthcare items. Additionally, customers in the Americas tend to prioritize quick relief from pain, making analgesics an essential part of their healthcare routine.
Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in Americas is the increasing demand for over-the-counter (OTC) analgesics. This trend can be attributed to several factors, including the rising awareness about self-medication, the ease of access to OTC analgesics in pharmacies, and the affordability of these products compared to prescription medications. Furthermore, the growing aging population in the Americas has also contributed to the increased demand for analgesics, as older individuals are more likely to experience chronic pain and require pain management solutions. Another trend in the market is the growing popularity of natural and herbal analgesics. Customers in the Americas are increasingly seeking alternative and natural remedies for pain relief, leading to a rise in the demand for analgesics derived from natural ingredients. This trend can be attributed to the growing focus on wellness and the preference for products with fewer side effects. Pharmacies in the Americas are responding to this trend by expanding their range of natural analgesics to cater to the changing customer preferences.
Local special circumstances: In the Americas, there are certain local circumstances that impact the Analgesics (Pharmacies) market. One such circumstance is the regulatory environment surrounding the sale of analgesics. Different countries in the region have varying regulations regarding the sale and distribution of analgesics, including restrictions on certain ingredients or dosage strengths. This can affect the availability and variety of analgesics in pharmacies, as well as the marketing and promotion of these products.
Underlying macroeconomic factors: The growth of the Analgesics (Pharmacies) market in Americas can also be attributed to underlying macroeconomic factors. The region has witnessed steady economic growth, which has resulted in increased disposable income and improved healthcare access. As a result, customers in the Americas are more willing to spend on healthcare products, including analgesics. Additionally, the region has a well-developed healthcare infrastructure, with a strong network of pharmacies that provide easy access to analgesics. This accessibility, combined with the affordability of analgesics, has further fueled the market growth. In conclusion, the Analgesics (Pharmacies) market in Americas is experiencing growth due to customer preferences for pharmacy-purchased analgesics, the increasing demand for OTC analgesics, the popularity of natural and herbal analgesics, local regulatory circumstances, and underlying macroeconomic factors. These factors collectively contribute to the development and expansion of the market in the region.
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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