Market Insights Health OTC Pharmaceuticals

Analgesics - EU-27

EU-27

The revenue in the Analgesics market in EU-27 amounts to US$5.62bn in 2024.
It is projected to grow annually by 6.05% (CAGR 2024-2029).
In comparison to other countries, the in the United States generates the highest revenue with US$7,243.00m in 2024.
When considering the total population, the per person revenue in EU-27 is US$12.57 in 2024.
Germany's strong healthcare system and high consumer demand make it a key market for analgesics in the EU-27.

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

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Analyst Opinion

The Analgesics market in EU-27 is experiencing steady growth due to customer preferences for over-the-counter pain relief options, increasing awareness about self-medication, and the rising prevalence of chronic diseases.

Customer preferences: Customers in EU-27 prefer over-the-counter analgesics as they provide quick and convenient relief from pain without the need for a prescription. The ease of access and affordability of these products make them popular among consumers. Additionally, there is a growing preference for natural and herbal analgesics, driven by the increasing focus on health and wellness.

Trends in the market: The Analgesics market in EU-27 is witnessing a shift towards non-opioid pain relief options. This trend is driven by concerns over the addictive nature and side effects of opioid-based analgesics. Non-opioid analgesics, such as nonsteroidal anti-inflammatory drugs (NSAIDs) and acetaminophen, are gaining popularity due to their effectiveness in treating mild to moderate pain without the risk of addiction.Another trend in the market is the increasing demand for topical analgesics. These products offer localized pain relief and are preferred by consumers who want to avoid systemic side effects associated with oral analgesics. Topical analgesics also provide targeted relief for specific areas of the body, making them popular among athletes and individuals with musculoskeletal pain.

Local special circumstances: The Analgesics market in EU-27 is influenced by local regulations on the sale and distribution of pain relief medications. Some countries in the region have stricter regulations on the sale of analgesics, requiring them to be dispensed by a pharmacist or obtained with a prescription. These regulations impact the availability and accessibility of analgesics in certain markets.

Underlying macroeconomic factors: The growth of the Analgesics market in EU-27 is supported by the increasing prevalence of chronic diseases such as arthritis, back pain, and migraines. These conditions require long-term pain management, driving the demand for analgesics in the region. Additionally, the aging population in EU-27 is contributing to the growth of the market, as older adults are more likely to experience chronic pain and require pain relief medications.In conclusion, the Analgesics market in EU-27 is growing due to customer preferences for over-the-counter pain relief options, the shift towards non-opioid analgesics, and the increasing prevalence of chronic diseases. Local regulations and the aging population are also driving factors in the market's development.

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.