Market Insights Health OTC Pharmaceuticals

Analgesics - Ireland

Ireland

In Ireland, the revenue generated in the Analgesics market in 2024 amounts to US$76.28m.
It is projected that the market will experience an annual growth rate of 5.31% (CAGR 2024-2029).
When compared to other countries worldwide, the in the United States generates the highest revenue in the Analgesics market, with US$7,243.00m in 2024.
Looking at the per person revenue figures in Ireland, it can be observed that US$14.99 is generated per person in 2024.
Ireland's analgesics market is dominated by well-established brands, with consumers showing a preference for locally produced pain relief products.

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

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Analyst Opinion

The Analgesics market in Ireland is experiencing steady growth due to several factors.

Customer preferences: Customers in Ireland have shown a growing preference for over-the-counter analgesics, such as paracetamol and ibuprofen, for the relief of pain and fever. This preference can be attributed to the convenience and accessibility of these products, as they do not require a prescription and can be easily purchased at pharmacies and supermarkets. Additionally, customers in Ireland are increasingly seeking out analgesics that are fast-acting and provide long-lasting relief.

Trends in the market: One of the key trends in the Analgesics market in Ireland is the growing demand for natural and herbal remedies. Customers are becoming more conscious of the ingredients in the products they consume and are opting for analgesics that are made from natural sources. This trend is driven by the belief that natural remedies are safer and have fewer side effects compared to synthetic alternatives. As a result, there has been an increase in the availability of herbal analgesics in the Irish market.Another trend in the Analgesics market in Ireland is the rising popularity of online purchasing. Customers are increasingly turning to online platforms to purchase analgesics, as it offers convenience and a wide range of product options. Online retailers are capitalizing on this trend by offering competitive prices and fast delivery services. This shift towards online purchasing has also led to increased competition among analgesic manufacturers and retailers, as they strive to differentiate themselves and attract customers.

Local special circumstances: One of the unique factors influencing the Analgesics market in Ireland is the country's aging population. Ireland has one of the highest proportions of elderly individuals in Europe, and this demographic is more likely to experience chronic pain and require analgesics. As a result, there is a growing demand for analgesics that cater to the specific needs of the elderly population, such as low-dose formulations and products that are easier to swallow.

Underlying macroeconomic factors: The growing economy and increasing disposable income in Ireland have also contributed to the growth of the Analgesics market. As people have more money to spend, they are more likely to purchase analgesics for pain relief and general well-being. Additionally, the healthcare system in Ireland provides subsidized healthcare and prescription medications, which has made healthcare more accessible to the population. This accessibility has also increased awareness and usage of analgesics among the general public.In conclusion, the Analgesics market in Ireland is experiencing steady growth due to customer preferences for over-the-counter analgesics, the rising demand for natural and herbal remedies, the popularity of online purchasing, the unique needs of the aging population, and the underlying macroeconomic factors such as the growing economy and increasing disposable income. As these trends continue to shape the market, manufacturers and retailers will need to adapt and innovate to meet the evolving needs of customers in Ireland.

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.