Market Insights Health OTC Pharmaceuticals

Analgesics - Algeria

Algeria

In Algeria, the revenue generated in the Analgesics market in 2024 amounts to US$136.30m.
This market is projected to experience an annual growth rate of 4.11% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, with US$7,243.00m in 2024.
In terms of per capita figures, each person in Algeria generates revenues of US$2.95 in 2024.
Algeria's growing demand for over-the-counter analgesics is driven by the rising prevalence of chronic pain and a growing aging population.

Key regions: Brazil, Europe, Germany, Canada, United States

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Analyst Opinion

The Analgesics market in Algeria has been experiencing significant growth in recent years. Customer preferences for pain relief medications, coupled with local special circumstances and underlying macroeconomic factors, have contributed to the development of this market.Customer preferences in Algeria have played a crucial role in driving the growth of the Analgesics market. Algerian consumers are increasingly seeking effective and affordable pain relief options. With the rising prevalence of chronic pain conditions and an aging population, there is a growing demand for analgesic medications. Customers are looking for products that provide quick and long-lasting relief, without causing any major side effects. In addition, the preference for over-the-counter analgesics has also contributed to the expansion of the market, as consumers value convenience and accessibility.Trends in the market indicate a shift towards the use of non-opioid analgesics in Algeria. Non-opioid analgesics, such as nonsteroidal anti-inflammatory drugs (NSAIDs) and acetaminophen, are gaining popularity due to their effectiveness and safety profile. These medications provide relief from pain and inflammation without the risk of addiction or dependence associated with opioid analgesics. The increasing awareness of the potential risks and side effects of opioids has led to a growing preference for non-opioid alternatives. This trend is in line with the global shift towards non-opioid analgesics, reflecting a growing concern for public health and safety.Local special circumstances in Algeria have also contributed to the development of the Analgesics market. The country has a high prevalence of chronic pain conditions, such as arthritis and musculoskeletal disorders. This has created a significant market opportunity for analgesic medications. Additionally, the Algerian government has implemented healthcare reforms to improve accessibility and affordability of medications, including analgesics. These initiatives have increased the availability of analgesic medications in both urban and rural areas, driving market growth.Underlying macroeconomic factors have also played a role in the development of the Analgesics market in Algeria. The country's improving economic conditions and rising disposable incomes have increased the affordability of healthcare products, including analgesics. As a result, more consumers are able to purchase these medications, fueling market growth. Furthermore, the growing urbanization and modernization of healthcare infrastructure have contributed to the expansion of the market, as consumers have better access to healthcare facilities and medications.In conclusion, the Analgesics market in Algeria is developing due to customer preferences for effective and affordable pain relief options, the trend towards non-opioid analgesics, local special circumstances such as high prevalence of chronic pain conditions, and underlying macroeconomic factors such as improving economic conditions and rising disposable incomes. These factors have created a favorable environment for the growth of the Analgesics market in Algeria.

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.