Market Insights Health OTC Pharmaceuticals

Analgesics - Burkina Faso

Burkina Faso

In Burkina Faso, the revenue in the Analgesics market reached US$14.23m in 2024.
It is projected to experience an annual growth rate of 8.09% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue with US$7,243.00m in 2024.
In terms of per capita figures, the revenue per person in Burkina Faso amounts to US$0.60 in 2024.
Despite the high prevalence of pain-related conditions in Burkina Faso, the analgesics market remains underdeveloped, with limited availability and accessibility of OTC pharmaceuticals.

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

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Analyst Opinion

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

Customer preferences: Customers in Burkina Faso have shown a growing demand for analgesics, which can be attributed to several factors. Firstly, there is a growing awareness and acceptance of Western medicine in the country, leading to an increased demand for pharmaceutical products. Additionally, the population in Burkina Faso is experiencing an increase in chronic diseases and conditions that require pain management, such as arthritis and migraines. This has further contributed to the demand for analgesics in the market.

Trends in the market: One of the key trends in the Analgesics market in Burkina Faso is the increasing availability and accessibility of analgesic products. Pharmaceutical companies have been expanding their distribution networks and reaching out to more rural areas, making it easier for customers to access these products. This has resulted in a wider customer base and increased sales.Another trend in the market is the introduction of new and innovative analgesic products. Pharmaceutical companies are constantly developing new formulations and delivery methods to cater to the specific needs of the customers. For example, there has been a rise in the availability of topical analgesics, which are preferred by some customers as they provide targeted pain relief without the need for oral consumption.

Local special circumstances: In Burkina Faso, there are certain local special circumstances that have influenced the development of the Analgesics market. One such circumstance is the traditional healing practices that are still prevalent in some parts of the country. While Western medicine is gaining popularity, there is still a segment of the population that prefers traditional remedies for pain management. This has created a unique market where both traditional and modern analgesics coexist.Another special circumstance is the affordability factor. Burkina Faso is a low-income country, and the majority of the population has limited purchasing power. As a result, customers are often price-sensitive when it comes to purchasing analgesics. This has led to the emergence of low-cost generic analgesic products in the market, which cater to the needs of the price-conscious customers.

Underlying macroeconomic factors: The growth of the Analgesics market in Burkina Faso can be attributed to several macroeconomic factors. One such factor is the overall economic growth of the country. Burkina Faso has experienced stable economic growth in recent years, which has led to an increase in disposable income and improved living standards. This has contributed to the increased demand for healthcare products, including analgesics.Furthermore, the government of Burkina Faso has been actively working towards improving healthcare infrastructure and access to healthcare services. This has resulted in an increased availability of healthcare facilities, which in turn has contributed to the growth of the Analgesics market.In conclusion, the Analgesics market in Burkina Faso is developing due to increasing customer preferences for Western medicine, the growing availability and accessibility of analgesic products, local special circumstances such as traditional healing practices and affordability concerns, and underlying macroeconomic factors such as economic growth and government initiatives.

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.