Analgesics - Guinea | Statista Market Forecast

Revenue in the Analgesics market amounts to US$8.75m in 2024. The market is expected to grow annually by 9.83% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$7bn in 2024).
In relation to total population figures, per person revenues of US$0.60 are generated in 2024.

Definition:
The Analgesics market comprises over-the-counter natural and synthetic non-opioid analgesics (only in approved low doses) like Paracetamol, Ibuprofen, Aspirin, Diclofenac and other pain-relieving preparations. Legislation on opioid analgesics differs from country to country. According to the respective state legislation, legal opioid analgesics are included. In Germany, Austria and Switzerland, for instance, opioid analgesics are only included if they are not limited by the narcotics law and do not require prescription. Analgesics are included in the form of pills, capsules, gels and ointments. Not included are prescription medicines (e.g. morphine), anesthetics and homeopathic remedies. Among the top-selling painkillers are Voltaren, Aspirin, Thomapyrin, Ibuprofen, Dolormin, Paracetamol and ASS. It includes both products which are exclusively sold in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Additional information:
The Analgesics market comprises revenues, average revenue per capita. Sales channels show online and offline revenue. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Over-the-counter analgesics (e.g. Aspirin and Paracetamol)
Natural and synthetic agents
In the form of pills, capsules, gels and ointments

Prescription medicines
Homeopathic remedies
Anesthetics

Although the COVID-19 pandemic resulted in a reduction of selective procedures and surgeries, which leads to a decreasing sale of after-surgical pain killers, COVID-19-related symptoms such as muscle or body aches are driving the demand during the pandemic. In 2022, the global Analgesics market reached US$30.93 billion and recovered from a slight decline in 2020 brought about by the COVID-19 pandemic.

Another significant trend is the prevalence of chronic diseases, which leads to a growing demand for analgesics used by people suffering from chronic and severe pain. The growth of the Analgesics market is restricted by legislation, as the restriction on opioid analgesics differs from country to country.

In the forecast period, the market exhibits steady growth at a CAGR of around 6%, mainly based on the globally growing share of the elderly population and the correspondingly increasing demand. The global Analgesics market is expected to reach US$42.65 billion in 2027.

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. 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 particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.