Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in ASEAN is experiencing significant growth and development.
Customer preferences: Customers in ASEAN countries have shown a growing preference for analgesics purchased from pharmacies. This can be attributed to several factors, including the convenience of accessing pharmacies, the trust in the quality of products sold in pharmacies, and the availability of professional advice from pharmacists. Additionally, customers in ASEAN countries tend to prioritize affordability and effectiveness when choosing analgesics, leading them to opt for over-the-counter options available in pharmacies.
Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in ASEAN is the increasing demand for natural and herbal analgesics. Customers in the region are becoming more conscious of the potential side effects of traditional analgesics and are seeking alternative options. This trend is driven by a growing awareness of the benefits of natural ingredients and a desire for more holistic healthcare solutions. As a result, pharmacies in ASEAN countries are expanding their product offerings to include a wider range of natural and herbal analgesics. Another trend in the market is the rising popularity of online pharmacies. With the increasing penetration of internet access and the convenience of online shopping, customers in ASEAN countries are increasingly turning to online pharmacies to purchase analgesics. This trend is particularly evident in urban areas, where customers value the convenience and time-saving benefits of online shopping. Online pharmacies also offer a wider selection of products and competitive pricing, which further attracts customers.
Local special circumstances: ASEAN countries have diverse healthcare systems and regulations, which impact the Analgesics (Pharmacies) market. For example, in some countries, analgesics are classified as prescription-only drugs, while in others they can be purchased over the counter. This variation in regulations affects the availability and accessibility of analgesics in different countries. Additionally, cultural beliefs and practices related to healthcare also influence customer preferences and purchasing behavior. For instance, traditional medicine and remedies are highly valued in some ASEAN countries, leading to a preference for herbal analgesics.
Underlying macroeconomic factors: The growing middle-class population in ASEAN countries, coupled with rising disposable incomes, is a key macroeconomic factor driving the growth of the Analgesics (Pharmacies) market. As more people have access to healthcare services and can afford to purchase analgesics, the demand for these products increases. Additionally, the increasing urbanization in ASEAN countries has led to a higher concentration of pharmacies in urban areas, making analgesics more accessible to a larger population. In conclusion, the Analgesics (Pharmacies) market in ASEAN is experiencing growth and development driven by customer preferences for pharmacy-purchased products, the trend towards natural and herbal analgesics, the popularity of online pharmacies, local regulations and cultural factors, as well as underlying macroeconomic factors such as the growing middle-class population and urbanization.
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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