Market Insights Health OTC Pharmaceuticals

Analgesics - Angola

Angola

In Angola, the revenue generated in the Analgesics market in 2024 amounts to US$49.00m.
It is projected that the market will experience an annual growth rate of 6.73% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, with a total of US$7,243.00m in 2024.
In terms of per person revenues, in 2024, each individual contributes US$1.30 to the overall revenue.
Angola's analgesics market is experiencing a surge in demand as the population seeks to manage pain and discomfort through over-the-counter pharmaceuticals.

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

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Analyst Opinion

The Analgesics market in Angola has been experiencing significant growth in recent years. Customer preferences for pain relief medications have shifted towards over-the-counter (OTC) products, driving the demand for analgesics in the country. This trend can be attributed to several factors, including increasing awareness about self-medication, rising disposable incomes, and the convenience of purchasing OTC products without a prescription.

Customer preferences: Angolan consumers are increasingly opting for OTC analgesics due to their ease of access and affordability. With a growing middle class and rising disposable incomes, more individuals are able to afford these medications without the need for a doctor's prescription. This has led to a shift in customer preferences towards self-medication, as individuals seek immediate relief from common ailments such as headaches, muscle pain, and fever. Furthermore, the convenience of purchasing OTC analgesics from local pharmacies and supermarkets has contributed to their popularity among consumers.

Trends in the market: One of the key trends in the Analgesics market in Angola is the increasing demand for branded OTC analgesics. Consumers are becoming more brand-conscious and are willing to pay a premium for trusted and well-known brands. This trend is driven by the perception that branded products offer higher quality and efficacy compared to generic alternatives. As a result, multinational pharmaceutical companies have been capitalizing on this trend by introducing a wide range of branded analgesics in the market.Another notable trend in the market is the growing popularity of natural and herbal analgesics. Angolan consumers are increasingly seeking alternative remedies for pain relief, driven by the global trend towards natural and holistic healthcare solutions. This has led to the introduction of a variety of natural analgesic products in the market, including herbal extracts and traditional remedies. These products are perceived as safer and more sustainable alternatives to conventional analgesics, appealing to health-conscious consumers.

Local special circumstances: Angola's healthcare system faces several challenges, including limited access to healthcare facilities and a shortage of medical professionals. These factors contribute to the preference for self-medication among Angolan consumers, as they seek immediate relief from common ailments without the need for a doctor's consultation. The availability of OTC analgesics in local pharmacies and supermarkets plays a crucial role in meeting this demand and providing accessible healthcare solutions to the population.

Underlying macroeconomic factors: Angola's economy has been recovering from a period of economic downturn, driven by the rebound in oil prices and government efforts to diversify the economy. This has resulted in improved purchasing power and increased consumer spending in the country. As disposable incomes rise, consumers are more willing to spend on healthcare products, including analgesics. Furthermore, the government's focus on improving healthcare infrastructure and increasing access to affordable medications has also contributed to the growth of the Analgesics market in Angola.In conclusion, the Analgesics market in Angola is witnessing significant growth due to changing customer preferences, including the shift towards OTC products and the demand for branded and natural analgesics. The local special circumstances, such as limited access to healthcare facilities, further drive the preference for self-medication among Angolan consumers. The underlying macroeconomic factors, including rising disposable incomes and government initiatives, also play a crucial role in driving the growth of the market.

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.