Key regions: Europe, United States, Canada, India, South Korea
The Analgesics (Pharmacies) market in EU-27 is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trend. Customer preferences play a crucial role in the development of the Analgesics (Pharmacies) market in EU-27. Consumers are increasingly seeking convenience and accessibility when it comes to purchasing analgesic products. Pharmacies provide a one-stop-shop for healthcare products, including analgesics, making them a preferred choice for many customers. Additionally, consumers are becoming more health-conscious and are actively seeking out pain relief options that are safe, effective, and have minimal side effects. This has led to an increased demand for analgesics that are recommended by healthcare professionals and have a proven track record of efficacy. Trends in the market further contribute to the growth of the Analgesics (Pharmacies) market in EU-27. One notable trend is the rising popularity of over-the-counter (OTC) analgesics. These products do not require a prescription and can be easily purchased at pharmacies. The convenience and accessibility of OTC analgesics have made them a preferred choice for consumers with mild to moderate pain. Another trend is the increasing availability of analgesics with innovative formulations. Manufacturers are constantly developing new products that offer targeted pain relief, such as topical analgesics for localized pain or extended-release formulations for long-lasting relief. These innovative products cater to the specific needs of customers and contribute to the overall growth of the market. Local special circumstances also play a role in the development of the Analgesics (Pharmacies) market in EU-27. Each country within the EU-27 has its own healthcare system and regulations, which can impact the availability and accessibility of analgesics. Some countries may have stricter regulations on the sale of certain analgesic products, while others may have more lenient regulations. Additionally, cultural factors and healthcare practices can influence customer preferences and purchasing behavior. For example, in some countries, herbal or traditional remedies may be preferred over conventional analgesics. These local special circumstances shape the dynamics of the market within each country and contribute to the overall development of the market in EU-27. Underlying macroeconomic factors also play a significant role in the development of the Analgesics (Pharmacies) market in EU-27. Economic growth, rising disposable incomes, and increasing healthcare expenditure all contribute to the demand for analgesics. As the economy improves, consumers have more purchasing power and are willing to spend on healthcare products, including analgesics. Additionally, an aging population and the increasing prevalence of chronic conditions contribute to the demand for pain relief options, further driving the growth of the market. In conclusion, the Analgesics (Pharmacies) market in EU-27 is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The convenience and accessibility of pharmacies, the rising popularity of OTC analgesics, and the availability of innovative formulations are all contributing to the positive trend. Local regulations, cultural factors, and healthcare practices shape the dynamics of the market within each country. Economic growth, rising disposable incomes, and increasing healthcare expenditure further drive the demand for analgesics. Overall, the market is expected to continue its growth trajectory in the coming years.
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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