Key regions: Europe, United States, Canada, India, South Korea
The Analgesics (Pharmacies) market in Saudi Arabia is experiencing steady growth due to several factors. Customer preferences for over-the-counter pain relief medications, combined with local special circumstances and underlying macroeconomic factors, are driving the development of this market. Customer preferences in Saudi Arabia are shifting towards self-medication and over-the-counter pain relief medications. This is largely due to the convenience and accessibility of these products in local pharmacies. Customers prefer to have control over their own healthcare and seek immediate relief from common ailments such as headaches, muscle aches, and menstrual pain. The availability of a wide range of analgesics in pharmacies allows customers to choose the product that best suits their needs. Additionally, the increasing awareness and acceptance of self-medication practices among the population further contribute to the growth of the Analgesics market in Saudi Arabia. Trends in the market show an increasing demand for analgesics with specific formulations and targeted effects. Customers are seeking products that provide fast and long-lasting relief, while also minimizing side effects. This has led to the development of innovative analgesic formulations, such as extended-release tablets and topical creams, that cater to these specific needs. Furthermore, there is a growing trend towards natural and herbal analgesics, as customers are becoming more conscious of the potential side effects of conventional medications. Manufacturers are responding to these trends by introducing products that are made from natural ingredients and have fewer side effects. Local special circumstances in Saudi Arabia also contribute to the development of the Analgesics market. The country has a young and growing population, with a high prevalence of chronic conditions such as obesity and diabetes. These conditions often result in chronic pain, which increases the demand for analgesics. Additionally, the hot climate in Saudi Arabia leads to a higher incidence of headaches and muscle aches, further driving the need for pain relief medications. The presence of a large number of pharmacies across the country ensures easy access to analgesics for the population. Underlying macroeconomic factors also play a role in the development of the Analgesics market in Saudi Arabia. The country has a strong economy and a high per capita income, which allows consumers to afford analgesics and other healthcare products. Additionally, the government's focus on healthcare and wellness initiatives, combined with the increasing investment in the pharmaceutical sector, further supports the growth of the market. The presence of international pharmaceutical companies in the country also contributes to the availability and variety of analgesics in the market. In conclusion, the Analgesics (Pharmacies) market in Saudi Arabia is developing due to customer preferences for over-the-counter pain relief medications, trends towards specific formulations and natural products, local special circumstances such as a young population and a high prevalence of chronic conditions, and underlying macroeconomic factors including a strong economy and government support for healthcare.
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)
