Key regions: Europe, United States, Canada, India, South Korea
The Analgesics (Pharmacies) market in North Macedonia has been experiencing steady growth in recent years.
Customer preferences: Customers in North Macedonia have shown a growing preference for analgesics purchased from pharmacies. This preference can be attributed to several factors. Firstly, customers trust the expertise and knowledge of pharmacists when it comes to recommending and selecting the right analgesic for their needs. Pharmacists are seen as reliable sources of information and advice, which gives customers confidence in their purchases. Secondly, customers value the convenience of being able to purchase analgesics alongside other healthcare products in one location. Pharmacies offer a one-stop-shop for all their healthcare needs, making it easier and more convenient for customers to access the analgesics they require.
Trends in the market: One notable trend in the Analgesics (Pharmacies) market in North Macedonia is the increasing demand for over-the-counter (OTC) analgesics. This trend can be attributed to several factors. Firstly, there is a growing awareness and acceptance of self-medication among consumers. Customers are increasingly taking charge of their own healthcare and seeking out OTC analgesics to manage their pain and discomfort. This trend is also driven by the increasing availability of OTC analgesics in pharmacies, which allows customers to access these products without the need for a prescription. Additionally, the affordability and accessibility of OTC analgesics make them an attractive option for customers. Another trend in the market is the growing demand for natural and herbal analgesics. Customers in North Macedonia are increasingly seeking out alternative and natural remedies for pain relief. This trend can be attributed to a growing interest in holistic health and wellness, as well as concerns about the potential side effects of traditional analgesics. Pharmacies have responded to this trend by expanding their range of natural and herbal analgesics, offering customers more choice and catering to their preferences.
Local special circumstances: One unique aspect of the Analgesics (Pharmacies) market in North Macedonia is the influence of traditional medicine and remedies. Traditional medicine has a long history in the country, and many customers still rely on traditional remedies for pain relief. This can have an impact on the demand for analgesics in pharmacies, as some customers may prefer traditional remedies over modern analgesics. Pharmacies in North Macedonia have recognized this preference and have started to offer a range of traditional remedies alongside modern analgesics, catering to the diverse needs and preferences of their customers.
Underlying macroeconomic factors: The growth of the Analgesics (Pharmacies) market in North Macedonia can also be attributed to several underlying macroeconomic factors. Firstly, the country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has allowed customers to prioritize their healthcare needs and invest in analgesics to manage their pain and discomfort. Additionally, the government has implemented policies to improve access to healthcare services, which has increased the demand for analgesics in pharmacies. These factors, combined with the growing awareness and acceptance of self-medication, have contributed to the development and growth of the Analgesics (Pharmacies) market in North Macedonia.
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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