Analgesics - Argentina | Statista Market Forecast

In Argentina, the revenue in the Analgesics market is projected to reach US$128.60m in 2024.
It is anticipated to experience an annual growth rate of 6.93% (CAGR 2024-2029).
When compared globally, the United States generates the highest revenue, amounting to US$7.24bn in 2024.
In terms of per capita figures, in Argentina generates US$2.79 in revenue per person in 2024.
The analgesics market in Argentina is experiencing a surge in demand due to a growing aging population seeking pain relief.

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

The Analgesics market in Argentina has been experiencing steady growth in recent years.

Customer preferences: In Argentina, customers have shown a strong preference for over-the-counter analgesics. This is due to the convenience and accessibility of these products, as well as the relatively low cost compared to prescription medications. Customers also value the wide range of options available in the market, including different formulations and strengths of analgesics.

Trends in the market: One trend that has been observed in the Analgesics market in Argentina is the increasing demand for natural and herbal remedies. Customers are becoming more conscious of the potential side effects of traditional analgesics and are seeking alternative options. As a result, there has been a rise in the availability and popularity of natural analgesic products in the market.Another trend in the market is the growing emphasis on pain management and prevention. Healthcare professionals are placing greater importance on managing and preventing chronic pain, leading to an increased demand for analgesics that provide long-lasting relief. This has driven the development of new formulations and technologies in the market.

Local special circumstances: One of the unique factors in the Argentine market is the high prevalence of musculoskeletal disorders. Conditions such as arthritis and back pain are common among the population, resulting in a significant demand for analgesics. Additionally, the aging population in Argentina has contributed to the increased need for pain management solutions.

Underlying macroeconomic factors: The growing economy in Argentina has played a significant role in the development of the Analgesics market. As disposable incomes have increased, customers have had more purchasing power to spend on healthcare products, including analgesics. Furthermore, the expansion of the middle class has led to a larger consumer base for analgesic products.In conclusion, the Analgesics market in Argentina is experiencing growth due to customer preferences for over-the-counter products, the increasing demand for natural remedies, and the emphasis on pain management and prevention. The high prevalence of musculoskeletal disorders and the growing economy in Argentina are also contributing factors to the market's development.

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 Health market, in a PDF format.

The pharmaceutical industry is responsible for the research, development, production, and distribution of medications. The market has experienced significant growth during the past two decades, and pharma revenues worldwide totaled 1.48 trillion U.S. dollars in 2022.