Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in Austria is experiencing steady growth due to several factors.
Customer preferences: Austrian customers have shown a preference for over-the-counter analgesics available in pharmacies. They value the convenience and accessibility of purchasing these products directly from a trusted healthcare provider. Additionally, customers in Austria tend to prioritize natural and herbal remedies, leading to an increased demand for analgesics made from natural ingredients.
Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in Austria is the growing demand for non-opioid pain relievers. This trend is driven by increasing awareness of the potential risks and side effects associated with opioid-based analgesics. Customers are seeking safer alternatives that provide effective pain relief without the risk of addiction or other adverse effects. As a result, pharmaceutical companies are focusing on developing and marketing non-opioid analgesics to cater to this demand. Another trend in the market is the rising popularity of online pharmacies. Customers in Austria are increasingly turning to online platforms to purchase analgesics, driven by the convenience, competitive pricing, and wider product selection offered by these platforms. This trend has prompted traditional brick-and-mortar pharmacies to adapt their business models and establish an online presence to remain competitive in the market.
Local special circumstances: Austria has a well-developed healthcare system that emphasizes the importance of patient well-being. The country has a high standard of healthcare services, and pharmacies play a crucial role in providing accessible and reliable healthcare advice to the population. As a result, customers in Austria trust and rely on pharmacies for their analgesic needs, contributing to the growth of the market.
Underlying macroeconomic factors: The growing elderly population in Austria is a significant macroeconomic factor driving the demand for analgesics. As the population ages, the prevalence of chronic pain conditions increases, leading to a higher demand for pain relief medications. This demographic shift is expected to continue in the coming years, further fueling the growth of the Analgesics (Pharmacies) market in Austria. Furthermore, the overall economic stability and increasing disposable income in Austria have also contributed to the growth of the market. As consumers have more purchasing power, they are willing to spend on healthcare products, including analgesics. This favorable economic environment has created a conducive market for pharmaceutical companies to introduce new products and expand their offerings. In conclusion, the Analgesics (Pharmacies) market in Austria is experiencing growth driven by customer preferences for over-the-counter analgesics, the demand for non-opioid pain relievers, the rise of online pharmacies, the importance of pharmacies in the healthcare system, the growing elderly population, and the overall economic stability in the country.
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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