Key regions: Europe, United States, Canada, India, South Korea
The Analgesics (Pharmacies) market in Ireland has been experiencing steady growth in recent years.
Customer preferences: Irish consumers have shown a strong preference for over-the-counter analgesics, which can be easily purchased at pharmacies without a prescription. This preference is driven by the convenience of accessing these medications without the need for a doctor's visit. Additionally, Irish consumers tend to trust the expertise of pharmacists in recommending the right analgesic for their needs.
Trends in the market: One of the key trends in the Analgesics market in Ireland is the increasing demand for natural and herbal remedies. Consumers are becoming more conscious of the potential side effects of traditional analgesics and are seeking alternative options. This has led to the introduction of a variety of natural and herbal analgesic products in the market, catering to this growing demand. Another trend in the market is the rising popularity of online pharmacies. Irish consumers are increasingly turning to online platforms to purchase their analgesics, as it offers the convenience of home delivery and a wider range of products to choose from. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increase in online shopping across all sectors.
Local special circumstances: Ireland has a well-established network of community pharmacies, which play a crucial role in the distribution of analgesics. These pharmacies are easily accessible to consumers and provide personalized advice on the appropriate analgesic for their needs. This local infrastructure has contributed to the growth of the Analgesics market in Ireland.
Underlying macroeconomic factors: The growing demand for analgesics in Ireland can be attributed to several underlying macroeconomic factors. Firstly, the aging population in Ireland is driving the need for pain relief medications. As people age, they are more likely to experience chronic pain conditions that require regular analgesic use. Secondly, the increasing prevalence of lifestyle-related conditions such as arthritis and back pain is also contributing to the growth of the Analgesics market. Sedentary lifestyles, poor posture, and obesity are common issues in modern society, leading to an increased demand for pain relief medications. Lastly, the overall economic stability and disposable income levels in Ireland have also played a role in the growth of the Analgesics market. As consumers have more discretionary income, they are more likely to spend on healthcare products, including analgesics. In conclusion, the Analgesics (Pharmacies) market in Ireland is experiencing steady growth due to customer preferences for over-the-counter medications, the increasing demand for natural and herbal remedies, the rise of online pharmacies, the well-established network of community pharmacies, the aging population, the prevalence of lifestyle-related conditions, and the overall economic stability in the country.
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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