Key regions: Europe, United States, Canada, India, South Korea
The Analgesics (Pharmacies) market in NAFTA has been experiencing steady growth in recent years. Customer preferences for over-the-counter pain relief medications have been a driving force behind this trend. Additionally, local special circumstances and underlying macroeconomic factors have played a role in shaping the market. Customer preferences in the Analgesics (Pharmacies) market in NAFTA have been largely influenced by convenience and accessibility. Consumers in this region prefer to purchase pain relief medications from pharmacies due to the convenience of having a wide selection of products in one location. The availability of knowledgeable pharmacists who can provide advice and recommendations is also valued by customers. Furthermore, the trend of self-medication has contributed to the growth of the market, as consumers are increasingly seeking over-the-counter options for pain relief. Trends in the Analgesics (Pharmacies) market in NAFTA reflect the increasing demand for non-opioid pain relief medications. With growing concerns about the opioid crisis, consumers are seeking alternative options for managing pain. This has led to a rise in the popularity of non-prescription analgesics such as acetaminophen and ibuprofen. Additionally, there has been a shift towards natural and herbal remedies, as consumers are becoming more conscious of the potential side effects of traditional pain relief medications. Local special circumstances in the Analgesics (Pharmacies) market in NAFTA include the aging population and the prevalence of chronic pain conditions. As the population ages, there is a greater need for pain relief medications to manage age-related ailments. This has created a significant market opportunity for analgesics in this region. Furthermore, the high incidence of chronic pain conditions such as arthritis and back pain has contributed to the demand for pain relief medications. Underlying macroeconomic factors have also played a role in the development of the Analgesics (Pharmacies) market in NAFTA. Economic growth and rising disposable incomes have increased consumer spending power, allowing for greater expenditures on healthcare products. Furthermore, the increasing prevalence of health insurance coverage in this region has made healthcare more affordable and accessible, leading to increased demand for pain relief medications. In conclusion, the Analgesics (Pharmacies) market in NAFTA is experiencing growth due to customer preferences for convenience and accessibility, as well as the increasing demand for non-opioid pain relief options. Local special circumstances such as the aging population and the prevalence of chronic pain conditions have also contributed to market growth. Additionally, underlying macroeconomic factors such as economic growth and rising disposable incomes have played a role in shaping the market.
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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