Market Insights Health OTC Pharmaceuticals

Analgesics - Malta

Malta

In Malta, the revenue in the Analgesics market in 2024 amounts to US$15.30m.
It is projected to experience an annual growth rate of 6.07% (CAGR 2024-2029).
When compared globally, the in the United States generates the highest revenue in this market, with US$7,243.00m in 2024.
As for per person revenues, in 2024, each individual in Malta contributes US$28.50 to the total revenue.
The demand for over-the-counter analgesics in Malta is driven by a high prevalence of chronic pain conditions among the elderly population.

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

Market

Region

Region comparison

Currency

Analyst Opinion

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

Customer preferences: Customers in Malta have shown a strong preference for analgesic products that provide quick and effective pain relief. They are increasingly seeking out products that offer a combination of pain relief and other benefits, such as anti-inflammatory properties or targeted relief for specific types of pain. Additionally, customers are becoming more conscious of the ingredients used in analgesic products and are opting for those that are natural or have fewer side effects.

Trends in the market: One of the key trends in the Analgesics market in Malta is the increasing demand for over-the-counter (OTC) analgesics. This can be attributed to several factors, including the convenience of purchasing these products without a prescription, the growing awareness and self-care culture among consumers, and the availability of a wide range of OTC analgesics in pharmacies and supermarkets. Another trend is the rise in the popularity of topical analgesics, such as creams and gels, which provide localized pain relief and are easy to apply. This trend can be attributed to the preference for non-oral forms of medication and the convenience of targeted pain relief.

Local special circumstances: Malta is a small island nation with a population that is aging rapidly. This demographic shift has led to an increased prevalence of chronic pain conditions, such as arthritis and back pain, among the population. As a result, there is a higher demand for analgesics to manage these conditions and improve the quality of life for individuals suffering from chronic pain. Additionally, Malta has a high rate of tourism, with millions of visitors each year. This influx of tourists contributes to the demand for analgesics, as travelers may experience pain or discomfort during their stay and seek relief through medication.

Underlying macroeconomic factors: The growing economy in Malta is driving the demand for analgesics. As the country's GDP continues to rise, individuals have more disposable income to spend on healthcare products, including analgesics. Furthermore, the government's focus on improving healthcare infrastructure and services has increased access to healthcare for the population, leading to a higher demand for analgesics. Additionally, Malta's membership in the European Union has facilitated the import and distribution of analgesic products, ensuring a steady supply for the market.In conclusion, the Analgesics market in Malta is experiencing growth due to customer preferences for quick and effective pain relief, increasing demand for OTC analgesics, the rise in popularity of topical analgesics, the aging population, the high rate of tourism, the growing economy, and improved access to healthcare services. These factors are driving the market and are expected to continue shaping its development 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.