Market Insights Health OTC Pharmaceuticals

Analgesics - Norway

Norway

In Norway, the revenue in the Analgesics market reached US$41.41m in 2024.
It is projected to experience an annual growth rate of 2.90% (CAGR 2024-2029).
When compared to other countries worldwide, the in the United States generates the highest revenue with US$7,243.00m in 2024.
Taking into account the total population, the per person revenue amounts to US$7.51 in 2024.
Norway's analgesics market is dominated by non-opioid products due to strict regulations on opioid painkillers.

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

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Analyst Opinion

The Analgesics market in Norway has been experiencing significant growth in recent years.

Customer preferences: Norwegian consumers have shown a growing preference for over-the-counter analgesics, which can be attributed to several factors. Firstly, the convenience of purchasing these products without a prescription is appealing to consumers who are seeking immediate relief from pain or discomfort. Additionally, the increasing awareness and acceptance of self-medication practices have contributed to the rising demand for analgesics in Norway.

Trends in the market: One of the key trends in the Analgesics market in Norway is the shift towards natural and herbal remedies. Consumers are becoming more conscious of the ingredients used in analgesic products and are opting for those that contain natural or herbal components. This trend is driven by the growing interest in holistic health and wellness, as well as the perception that natural remedies are safer and have fewer side effects. Another trend in the market is the growing popularity of online retail channels for purchasing analgesics. The convenience of online shopping, coupled with the availability of a wide range of products, has attracted Norwegian consumers to purchase analgesics online. This trend is further fueled by the COVID-19 pandemic, which has led to an increase in online shopping across various sectors.

Local special circumstances: One of the unique aspects of the Norwegian market is the strong emphasis on sustainability and environmental consciousness. Norwegian consumers are increasingly concerned about the environmental impact of the products they use and are actively seeking out eco-friendly options. This has led to a growing demand for analgesics that are produced using sustainable practices and packaging materials.

Underlying macroeconomic factors: The growing Analgesics market in Norway can also be attributed to favorable macroeconomic factors. Norway has a high standard of living and a strong healthcare system, which has resulted in a population that is generally well-informed and health-conscious. Additionally, the country has a high disposable income, which allows consumers to afford and prioritize their health and well-being.In conclusion, the Analgesics market in Norway is experiencing growth due to customer preferences for over-the-counter products, the trend towards natural and herbal remedies, the popularity of online retail channels, the emphasis on sustainability, and favorable macroeconomic factors. These factors collectively contribute to the increasing demand for analgesics in Norway.

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.