Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in Angola has been experiencing significant growth in recent years.
Customer preferences: Angolan consumers have shown a growing preference for analgesics purchased from pharmacies rather than other retail channels. This shift in preference can be attributed to the perception of pharmacies as more reliable and trustworthy sources of medication. Additionally, pharmacies often offer a wider range of analgesic products and provide professional advice on their usage, which appeals to consumers seeking personalized healthcare solutions.
Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in Angola is the increasing demand for over-the-counter (OTC) analgesics. OTC analgesics are medications that can be purchased without a prescription, and they are becoming increasingly popular among consumers due to their convenience and accessibility. This trend is driven by the growing awareness of self-care and the desire for immediate relief from common ailments such as headaches and muscle pain. Another trend in the market is the rising demand for natural and herbal analgesics. Consumers are becoming more conscious of the potential side effects of traditional analgesics and are seeking alternative options that are perceived as safer and more sustainable. This has led to an increase in the availability and sales of natural and herbal analgesics in pharmacies across Angola.
Local special circumstances: Angola has a rapidly growing population, which is contributing to the increasing demand for analgesics. As the population expands, so does the prevalence of health issues that require pain relief. This demographic factor is driving the growth of the Analgesics (Pharmacies) market in Angola. Additionally, Angola has a developing healthcare infrastructure, with a growing number of pharmacies opening in urban and rural areas. The expansion of the pharmacy network has made analgesics more accessible to a larger population, further fueling market growth.
Underlying macroeconomic factors: The growing economy of Angola has had a positive impact on the Analgesics (Pharmacies) market. As disposable incomes rise, consumers are more willing to spend on healthcare products, including analgesics. The increasing purchasing power of Angolan consumers has contributed to the overall growth of the market. Furthermore, the government of Angola has been investing in the healthcare sector, including the improvement of healthcare facilities and the expansion of healthcare coverage. These initiatives have led to an increased demand for analgesics, as more people have access to healthcare services and are seeking pain relief solutions. In conclusion, the Analgesics (Pharmacies) market in Angola is experiencing significant growth due to customer preferences for pharmacy purchases, the increasing demand for OTC and natural analgesics, the growing population, the expanding pharmacy network, and the positive macroeconomic factors such as rising disposable incomes and government investments in healthcare.
Data coverage:
The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.
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