Key regions: Europe, United States, Canada, India, South Korea
The Analgesics (Pharmacies) market in Australia has been experiencing steady growth in recent years.
Customer preferences: Customers in Australia have shown a strong preference for over-the-counter analgesics, which are easily accessible in pharmacies without a prescription. This preference can be attributed to the convenience and affordability of these products. Additionally, customers in Australia are increasingly seeking natural and herbal remedies for pain relief, leading to a rise in demand for analgesics derived from natural ingredients.
Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in Australia is the growing demand for non-opioid pain relievers. This trend is driven by increasing concerns about the addictive nature of opioid-based analgesics and the rising awareness of their potential side effects. As a result, customers are turning to alternative options such as non-steroidal anti-inflammatory drugs (NSAIDs) and acetaminophen, which offer effective pain relief without the risk of addiction. Another trend in the market is the rising popularity of online pharmacies. With the convenience of online shopping, customers are increasingly opting to purchase analgesics online, as it allows them to compare prices, read reviews, and have the products delivered to their doorstep. This trend has led to increased competition among pharmacies, both online and offline, as they strive to attract customers with competitive pricing and value-added services.
Local special circumstances: Australia has a well-established healthcare system with a strong emphasis on self-care and prevention. This has contributed to the growth of the Analgesics (Pharmacies) market, as customers are encouraged to take responsibility for their own health and seek over-the-counter remedies for common ailments. Additionally, the aging population in Australia has also contributed to the demand for analgesics, as older individuals are more likely to experience chronic pain and rely on these products for relief.
Underlying macroeconomic factors: The growing population and increasing disposable income in Australia have played a significant role in driving the growth of the Analgesics (Pharmacies) market. As the population continues to expand, the demand for healthcare products, including analgesics, is expected to rise. Furthermore, the improving economic conditions in Australia have led to higher disposable incomes, allowing customers to spend more on healthcare products. In conclusion, the Analgesics (Pharmacies) market in Australia is experiencing steady growth due to customer preferences for over-the-counter analgesics, the growing demand for non-opioid pain relievers, and the rising popularity of online pharmacies. The local special circumstances, such as the emphasis on self-care and the aging population, further contribute to the market's development. Additionally, the underlying macroeconomic factors, including population growth and increasing disposable income, support the growth of the market in Australia.
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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