Market Insights Health OTC Pharmaceuticals

Analgesics - Northern Europe

Northern Europe

In 2024, the revenue in the Analgesics market in Northern Europe amounted to US$0.49bn.
This market is expected to experience an annual growth rate of 5.81% (CAGR 2024-2029).
When comparing the revenue generated in Northern Europe to the global market, it is noteworthy that the in the United States generates the highest revenue, reaching US$7,243.00m in 2024.
To put things into perspective, in 2024, the per person revenue in Northern Europe amounted to US$14.59.
This figure represents the revenue generated per person in relation to the total population.
In Northern Europe, there is a growing trend towards natural and herbal remedies in the analgesics market.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Analgesics market in Northern Europe is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trend.Customer preferences in Northern Europe are shifting towards a more health-conscious lifestyle. Consumers are increasingly seeking natural and organic products, including analgesics. They are also looking for products that provide quick and effective pain relief without any side effects. This preference for natural and safe products is driving the demand for analgesics made from herbal ingredients and with minimal chemical additives.Trends in the market reflect this shift in customer preferences. There is a growing demand for herbal analgesics, such as those made from plant extracts like arnica and chamomile. These products are perceived as being gentler on the body and have fewer side effects compared to traditional analgesics. Additionally, there is an increasing demand for analgesic patches and creams, which provide targeted pain relief and are convenient to use.Local special circumstances in Northern Europe also contribute to the development of the Analgesics market. The region has a high standard of healthcare and a well-developed pharmaceutical industry. This creates a favorable environment for the production and distribution of analgesics. Additionally, the region has a strong culture of self-care and preventive healthcare, which further drives the demand for analgesics.Underlying macroeconomic factors also play a role in the growth of the Analgesics market in Northern Europe. The region has a stable economy and a high disposable income, allowing consumers to afford premium analgesic products. Furthermore, the aging population in Northern Europe is driving the demand for analgesics, as older individuals are more prone to chronic pain conditions.In conclusion, the Analgesics market in Northern Europe is developing due to customer preferences for natural and safe products, trends towards herbal analgesics and targeted pain relief, local special circumstances such as a well-developed healthcare system, and underlying macroeconomic factors such as a stable economy and an aging population. This positive trend is expected to continue as consumers prioritize their health and well-being, driving the demand for analgesics in the region.

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.