Key regions: Europe, United States, Canada, India, South Korea
The Analgesics (Pharmacies) market in EAEU is experiencing significant growth and development due to various factors.
Customer preferences: Customers in the EAEU region are increasingly seeking out analgesics from pharmacies for pain relief. This can be attributed to several factors, including the convenience of purchasing these products from pharmacies, the trust in the quality and safety of products sold in pharmacies, and the availability of a wide range of options to choose from. Customers in the region also value the expertise and advice provided by pharmacists when it comes to selecting the most suitable analgesics for their needs.
Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in EAEU is the growing demand for over-the-counter (OTC) analgesics. This can be attributed to the increasing awareness and acceptance of self-medication among consumers in the region. OTC analgesics offer convenience and affordability, allowing customers to manage minor aches and pains without the need for a prescription. Another trend in the market is the rising popularity of natural and herbal analgesics. Customers in the EAEU region are becoming more health-conscious and are seeking out natural alternatives to traditional pain relief medications. This trend is driven by the perception that natural and herbal products are safer and have fewer side effects compared to synthetic medications.
Local special circumstances: The Analgesics (Pharmacies) market in EAEU is also influenced by local special circumstances. For example, in some countries within the EAEU, there may be regulations or restrictions on the sale and distribution of certain analgesics. This can impact the availability and accessibility of these products in the market. Additionally, cultural and societal factors may also play a role in shaping customer preferences and demand for analgesics. For instance, in some countries, there may be a preference for traditional or indigenous remedies for pain relief, which can impact the market for analgesics.
Underlying macroeconomic factors: The development of the Analgesics (Pharmacies) market in EAEU is also influenced by underlying macroeconomic factors. Economic growth and rising disposable incomes in the region are driving increased consumer spending on healthcare products, including analgesics. Additionally, the aging population in many EAEU countries is contributing to the growth of the market, as older individuals are more likely to experience chronic pain and require pain relief medications. Furthermore, advancements in healthcare infrastructure and access to healthcare services are also contributing to the growth of the market, as more individuals are seeking medical advice and treatment for their pain-related conditions.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
