Key regions: Europe, United States, Canada, India, South Korea
The Analgesics (Pharmacies) market in Benelux is experiencing steady growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Customers in Benelux have a growing preference for over-the-counter analgesics purchased from pharmacies. This preference is driven by the convenience of accessing these products in pharmacies, where trained pharmacists can provide advice and recommendations. Additionally, customers in the region value the wide range of analgesic options available in pharmacies, allowing them to choose products that suit their specific needs.
Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in Benelux is the increasing demand for natural and herbal analgesics. Customers are becoming more conscious of the potential side effects of traditional analgesics and are seeking alternative options. This trend is reflected in the growing availability of natural analgesic products in pharmacies across the region. Another trend in the market is the rising popularity of online pharmacy platforms. Customers in Benelux are increasingly turning to online platforms to purchase analgesics due to the convenience and competitive pricing offered. This trend is driving the growth of e-commerce in the Analgesics (Pharmacies) market in Benelux.
Local special circumstances: One of the special circumstances in the Analgesics (Pharmacies) market in Benelux is the high level of competition among pharmacies. The region has a dense network of pharmacies, leading to intense competition for customers. This competition has resulted in pharmacies offering a wide range of analgesic products and value-added services to attract and retain customers.
Underlying macroeconomic factors: The stable economic growth in Benelux is a key underlying macroeconomic factor driving the development of the Analgesics (Pharmacies) market. As the economy continues to grow, consumers have more disposable income to spend on healthcare products, including analgesics. This increased purchasing power is contributing to the growth of the market. Furthermore, the aging population in Benelux is also influencing the market. As the population ages, the demand for analgesics is expected to increase, as older individuals are more likely to experience chronic pain and require pain relief medication. This demographic factor is driving the growth of the Analgesics (Pharmacies) market in Benelux. In conclusion, the Analgesics (Pharmacies) market in Benelux is developing due to customer preferences for pharmacy-purchased analgesics, trends such as the demand for natural and online options, local special circumstances of intense competition among pharmacies, and underlying macroeconomic factors of stable economic growth and an aging population.
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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