Market Insights Health OTC Pharmaceuticals

Analgesics - Bahrain

Bahrain

The revenue generated in the Analgesics market in Bahrain is estimated to be US$25.02m in 2024.
It is projected to experience an annual growth rate of 6.74% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, amounting to US$7,243.00m in 2024.
In terms of per capita figures, each person in Bahrain contributes US$16.70 in revenue in 2024.
Bahrain's growing demand for OTC analgesics is driven by the high prevalence of chronic pain and a growing aging population.

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

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Analyst Opinion

The Analgesics market in Bahrain is experiencing significant growth due to various factors.

Customer preferences: Customers in Bahrain have shown a strong preference for analgesic products that provide quick and effective pain relief. They are increasingly seeking out products that offer long-lasting relief and have minimal side effects. Additionally, customers are becoming more conscious about the ingredients used in analgesic products and are opting for those that are natural and organic. Convenience and ease of use are also important factors for customers, who prefer products that are available in different forms such as tablets, creams, and sprays.

Trends in the market: One of the key trends in the Analgesics market in Bahrain is the increasing demand for over-the-counter (OTC) analgesic products. This trend can be attributed to the rising awareness among customers about self-medication and the convenience of purchasing OTC products without the need for a prescription. OTC analgesics are widely available in pharmacies and supermarkets, making them easily accessible to customers.Another trend in the market is the growing popularity of natural and herbal analgesic products. Customers in Bahrain are increasingly opting for products that are made from natural ingredients such as herbs and plant extracts. This trend is driven by the perception that natural products are safer and have fewer side effects compared to synthetic analgesics. Manufacturers are capitalizing on this trend by introducing a wide range of natural analgesic products in the market.

Local special circumstances: Bahrain has a high prevalence of chronic diseases such as arthritis and back pain, which has contributed to the growth of the Analgesics market. The aging population in the country is also a key factor driving the demand for analgesic products. As the population ages, the incidence of chronic pain conditions increases, leading to a higher demand for pain relief medications.Furthermore, the government of Bahrain has taken several initiatives to promote healthcare and improve access to medication. This includes the establishment of healthcare centers and the implementation of healthcare programs that provide subsidized or free medication to the population. These initiatives have played a significant role in increasing the availability and affordability of analgesic products in the market.

Underlying macroeconomic factors: The growing economy of Bahrain, coupled with increasing disposable incomes, has contributed to the growth of the Analgesics market. As people have more purchasing power, they are willing to spend on healthcare products, including analgesics, to improve their quality of life. Additionally, the country's favorable business environment and strong healthcare infrastructure have attracted multinational pharmaceutical companies to invest in the market, further driving the growth of the Analgesics market in Bahrain.

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.