Market Insights Health Pharmacies OTC Products

Analgesics (Pharmacies) - Slovenia

Slovenia

Revenue in the Analgesics market is projected to reach US$18.71m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.48%, resulting in a market volume of US$24.97m by 2028.
In global comparison, most revenue will be generated in China (US$5,028.00m in 2024).
In relation to total population figures, per person revenues of US$8.83 are generated in 2024.

Key regions: Europe, United States, Canada, India, South Korea

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Analyst Opinion

The Analgesics (Pharmacies) market in Slovenia has been experiencing steady growth in recent years.

Customer preferences: Customers in Slovenia have shown a growing preference for analgesics purchased from pharmacies. This can be attributed to the trust and confidence that customers have in the quality and effectiveness of products sold in pharmacies. Additionally, customers value the convenience of being able to seek advice from trained pharmacists when purchasing analgesics.

Trends in the market: One key trend in the Analgesics (Pharmacies) market in Slovenia is the increasing demand for over-the-counter (OTC) analgesics. This can be attributed to the growing awareness among customers about self-care and the ease of accessibility of OTC analgesics in pharmacies. Customers are increasingly opting for OTC analgesics for minor aches and pains, rather than seeking prescription medications. Another trend is the rising demand for natural and herbal analgesics. Customers in Slovenia are becoming more health-conscious and are seeking alternative options to traditional analgesics. This trend is driven by the perception that natural and herbal analgesics have fewer side effects and are more sustainable for long-term use.

Local special circumstances: Slovenia has a well-established healthcare system with a high number of pharmacies per capita. This provides customers with easy access to analgesics and contributes to the growth of the market. Additionally, the government in Slovenia has implemented policies to promote the use of generic analgesics, which are more affordable for customers. This has further fueled the growth of the Analgesics (Pharmacies) market in the country.

Underlying macroeconomic factors: The growing economy in Slovenia has contributed to the increasing disposable income of customers. As a result, customers have more purchasing power and are willing to spend on healthcare products, including analgesics. Furthermore, the aging population in Slovenia has led to a higher demand for analgesics, as older individuals are more prone to experiencing chronic pain and require regular pain management. In conclusion, the Analgesics (Pharmacies) market in Slovenia is developing due to the preferences of customers for pharmacy-purchased analgesics, the increasing demand for OTC and natural analgesics, the well-established healthcare system with a high number of pharmacies, and the growing economy and aging population in the country. These factors are driving the growth of the market and are expected to continue shaping its development in the future.

Methodology

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.