Market Insights Health OTC Pharmaceuticals

Analgesics - Africa

Africa

In 2024, the revenue in the Analgesics market in Africa amounts to US$1.45bn.
This market is projected to experience an annual growth rate of 9.38% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, reaching US$7,243.00m in 2024.
In terms of per person revenues, in Africa generates US$1.12 in 2024.
In Africa, there is a growing demand for natural and herbal analgesics due to a cultural preference for traditional medicine.

Key regions: Canada, United States, United Kingdom, Australia, Germany

Market

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Analyst Opinion

The Analgesics market in Africa is experiencing significant growth and development due to various factors.

Customer preferences: Customers in Africa have shown a growing preference for analgesics as a means to alleviate pain and discomfort. This can be attributed to the increasing awareness and understanding of the benefits of analgesics in managing pain. Additionally, the rising prevalence of chronic diseases and conditions, such as arthritis and migraines, has also contributed to the demand for analgesics in the region.

Trends in the market: One of the key trends in the Analgesics market in Africa is the increasing availability and accessibility of over-the-counter (OTC) analgesics. This trend is driven by the growing number of pharmacies and drugstores in the region, as well as the expansion of distribution networks. As a result, consumers have easier access to a wide range of analgesic products without the need for a prescription.Another trend in the market is the rising demand for natural and herbal analgesics. This can be attributed to the growing awareness and preference for natural and organic products among consumers in Africa. As a result, manufacturers are introducing a variety of natural analgesic products, such as those containing herbal extracts and essential oils, to cater to this demand.

Local special circumstances: Africa is a diverse continent with a wide range of cultural, social, and economic factors that influence the Analgesics market. For instance, in some countries, traditional medicine plays a significant role in healthcare, and consumers may prefer traditional remedies over conventional analgesics. This presents both opportunities and challenges for manufacturers operating in the region, as they need to understand and cater to the specific preferences and needs of different consumer segments.

Underlying macroeconomic factors: The growth of the Analgesics market in Africa is also influenced by underlying macroeconomic factors. Economic growth and increasing disposable incomes in many African countries have contributed to the rising demand for healthcare products, including analgesics. Additionally, improvements in healthcare infrastructure and access to healthcare services have also played a role in driving the market growth.In conclusion, the Analgesics market in Africa is witnessing significant growth and development due to customer preferences for pain management, increasing availability of OTC analgesics, rising demand for natural and herbal products, local special circumstances, and underlying macroeconomic factors. Manufacturers and stakeholders in the market need to understand and adapt to these trends and circumstances to capitalize on the opportunities presented by the growing market in Africa.

Methodology

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.