Market Insights Health OTC Pharmaceuticals

Analgesics - Jordan

Jordan

In 2024, the revenue in the Analgesics market in Jordan amounts to US$30.25m.
The market is projected to grow annually by 8.53% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue with US$7,243.00m in 2024.
Furthermore, in relation to the total population figures, per person revenues of US$2.66 are generated in 2024.
The demand for analgesics in the OTC Pharmaceuticals market in Jordan has been steadily increasing due to the high prevalence of chronic pain conditions among the population.

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

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Analyst Opinion

The Analgesics market in Jordan has been experiencing steady growth over the past few years, driven by several key factors. Customer preferences for over-the-counter pain relief medications, coupled with local special circumstances and underlying macroeconomic factors, have contributed to the development of the market.Customer preferences in Jordan have played a significant role in the growth of the Analgesics market. Consumers in the country have a strong preference for self-medication, as they seek quick and effective relief from common ailments such as headaches, muscle pain, and fever. This preference for over-the-counter analgesics has led to increased demand for these products in the market.Trends in the market reflect the changing needs and preferences of consumers in Jordan. There has been a shift towards the use of natural and herbal analgesics, as consumers become more conscious of the potential side effects of synthetic medications. This trend is in line with the global shift towards natural and organic products, driven by increasing awareness of health and wellness.Local special circumstances in Jordan have also contributed to the development of the Analgesics market. The country has a relatively young population, with a growing middle class and increasing disposable income. This has resulted in higher healthcare expenditure and increased demand for over-the-counter medications, including analgesics. Additionally, the government's efforts to improve access to healthcare services have further fueled the growth of the market.Underlying macroeconomic factors have also played a role in the development of the Analgesics market in Jordan. The country has witnessed stable economic growth in recent years, with a focus on diversifying the economy and attracting foreign investment. This has led to an increase in healthcare infrastructure and facilities, providing better access to healthcare services for the population. As a result, the demand for analgesics has increased, driving market growth.In conclusion, the Analgesics market in Jordan is developing due to customer preferences for over-the-counter pain relief medications, trends towards natural and herbal products, local special circumstances such as a young population and increasing disposable income, and underlying macroeconomic factors such as stable economic growth and improved healthcare infrastructure. These factors are expected to continue driving the growth of the market in the coming years.

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.