Market Insights Health OTC Pharmaceuticals

Analgesics - Moldova

Moldova

In Moldova, the revenue in the Analgesics market is estimated to reach US$22.67m in 2024.
It is projected to experience an annual growth rate of 5.69% (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.
On a per capita basis, the revenue generated in Moldova amounts to US$6.81 in 2024.
Moldova's OTC analgesics market is experiencing a surge in demand due to a growing aging population and increasing prevalence of chronic pain.

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

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Analyst Opinion

The Analgesics market in Moldova has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.Customer preferences in the Analgesics market have shifted towards a preference for over-the-counter (OTC) products, as consumers seek convenience and affordability. This trend is in line with global market preferences, where consumers are increasingly opting for self-medication and home remedies. The availability of a wide range of OTC analgesics in pharmacies and supermarkets has contributed to the growth of the market in Moldova.Trends in the market indicate a rising demand for natural and herbal analgesics. Consumers are becoming more health-conscious and are seeking products that are perceived to be safer and have fewer side effects. This trend is in line with the global shift towards natural and organic products. Manufacturers have responded to this demand by introducing a variety of natural analgesics, such as herbal pain relievers and essential oil-based products, which have gained popularity among consumers in Moldova.Local special circumstances, such as the aging population and the prevalence of chronic pain conditions, have also contributed to the growth of the Analgesics market in Moldova. As the population ages, the incidence of conditions such as arthritis and back pain increases, leading to a higher demand for pain relief medications. Additionally, the growing awareness and acceptance of mental health issues have resulted in an increased demand for analgesics to manage symptoms associated with conditions such as depression and anxiety.Underlying macroeconomic factors, such as increasing disposable income and improving healthcare infrastructure, have further fueled the growth of the Analgesics market in Moldova. As disposable income levels rise, consumers are more willing to spend on healthcare products, including analgesics. Furthermore, the expansion of pharmacies and the availability of a wider range of analgesics have made these products more accessible to the general population.In conclusion, the Analgesics market in Moldova is developing in response to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards OTC products, the demand for natural and herbal analgesics, the aging population, and increasing disposable income levels are all contributing to the growth of the market. Manufacturers and retailers in the Analgesics market should continue to adapt to these trends and cater to the evolving needs and preferences of consumers in Moldova.

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.