Key regions: Europe, United States, Canada, India, South Korea
The Analgesics (Pharmacies) market in Argentina is experiencing steady growth due to various factors.
Customer preferences: Customers in Argentina have a strong preference for over-the-counter analgesics purchased from pharmacies. This is because pharmacies are easily accessible and provide a convenient option for customers to purchase medication without a prescription. Additionally, customers in Argentina value the expertise and guidance provided by pharmacists when selecting analgesics for their specific needs.
Trends in the market: One of the major trends in the Analgesics (Pharmacies) market in Argentina is the increasing demand for natural and herbal analgesics. Customers are becoming more conscious about the ingredients and potential side effects of analgesics, leading them to seek out natural alternatives. This trend is driven by the growing popularity of natural and holistic approaches to healthcare. As a result, pharmacies in Argentina are expanding their product offerings to include a wider range of natural analgesics to cater to this demand. Another trend in the market is the rising popularity of online pharmacies. Customers in Argentina are increasingly turning to online platforms to purchase analgesics due to the convenience and competitive pricing offered by these platforms. Online pharmacies provide customers with the option to compare prices, read reviews, and have their medication delivered directly to their doorstep. This trend is expected to continue as more customers in Argentina embrace e-commerce and online shopping.
Local special circumstances: One of the unique aspects of the Analgesics (Pharmacies) market in Argentina is the strong influence of traditional medicine. Many customers in Argentina still rely on traditional remedies for pain relief, such as herbal teas and homeopathic treatments. This preference for traditional medicine is deeply rooted in the country's culture and heritage. As a result, pharmacies in Argentina often stock a wide range of traditional remedies alongside conventional analgesics to cater to the diverse preferences of their customers.
Underlying macroeconomic factors: The growing Analgesics (Pharmacies) market in Argentina can also be attributed to favorable macroeconomic factors. The country has experienced steady economic growth in recent years, resulting in an increase in disposable income for many households. This has led to higher healthcare spending, including the purchase of analgesics. Additionally, the government in Argentina has implemented policies to improve access to healthcare and medication, further driving the demand for analgesics in the country. In conclusion, the Analgesics (Pharmacies) market in Argentina is developing in response to customer preferences for over-the-counter medication, the growing demand for natural and herbal analgesics, the rise of online pharmacies, the influence of traditional medicine, and favorable macroeconomic factors. As these trends continue to shape the market, pharmacies in Argentina will need to adapt and innovate to meet the evolving needs of their customers.
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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