Analgesics (Pharmacies) - Baltics

Revenue in the Analgesics market is projected to reach US$96.83m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.02%, resulting in a market volume of US$149.10m by 2029.
In global comparison, most revenue will be generated China (US$5.03bn in 2024).
In relation to total population figures, per person revenues of US$16.63 are generated in 2024.

Definition:
The Analgesics market encompasses non-prescription natural and synthetic non-opioid analgesics sold through pharmacies. These include well-known products such as Paracetamol, Ibuprofen, Aspirin, Diclofenac, and various pain-relieving preparations. The market's scope varies with national legislation concerning opioid analgesics, with legal opioids being incorporated based on respective state regulations. In countries like Germany, Austria, and Switzerland, opioid analgesics are included if they comply with narcotics law limitations and do not necessitate a prescription. The analgesics are presented in forms like pills, capsules, gels, and ointments. However, the market excludes prescription medications (e.g., morphine), anesthetics, and homeopathic remedies. Notable top-selling painkillers encompass Voltaren, Aspirin, Thomapyrin, Ibuprofen, Dolormin, Paracetamol, and ASS. This market exclusively covers product sales through pharmacies.

Additional information:
The Analgesics market comprises revenues, average revenue per capita and average revenue per pharmacy. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
For more information on the data displayed, use the info button next to the boxes.

Over-the-counter analgesics (e.g. Aspirin and Paracetamol)
Natural and synthetic agents
In the form of pills, capsules, gels and ointments

Prescription medicines
Homeopathic remedies
Anesthetics

The Analgesics (Pharmacies) market in Baltics is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the positive trajectory of this market. Customer preferences in the Analgesics (Pharmacies) market in Baltics are shifting towards more natural and holistic remedies. Consumers are becoming increasingly conscious of the ingredients in the products they use and are seeking alternatives to traditional pharmaceuticals. This preference for natural remedies is driving the demand for herbal and homeopathic analgesics in the market. Trends in the market indicate a growing demand for over-the-counter analgesics in the Baltics. This can be attributed to several factors. Firstly, there is a rising awareness and understanding of self-care among consumers. People are taking more responsibility for their own health and are turning to pharmacies for accessible and affordable solutions to common ailments such as headaches and muscle pain. Secondly, the aging population in the Baltics is driving the demand for pain relief medications. As people get older, they are more likely to experience chronic pain and require regular analgesics. Lastly, the increasing prevalence of lifestyle-related conditions such as stress and poor posture is also contributing to the demand for analgesics in the market. Local special circumstances in the Baltics also play a role in the development of the Analgesics (Pharmacies) market. The region has a well-established healthcare system with a strong emphasis on pharmaceuticals. Pharmacies are trusted sources of healthcare advice and products, making them the go-to destination for consumers seeking analgesics. Additionally, the competitive landscape of the market is characterized by a mix of local and international brands. Local brands often have a strong presence and loyal customer base, while international brands bring innovation and product diversity to the market. Underlying macroeconomic factors further support the growth of the Analgesics (Pharmacies) market in the Baltics. The region has experienced steady economic growth in recent years, leading to increased disposable income and consumer spending. This enables consumers to afford analgesics and other healthcare products. Furthermore, the Baltics have a high level of healthcare expenditure, indicating a strong demand for healthcare products and services. Overall, the Analgesics (Pharmacies) market in the Baltics is developing due to customer preferences for natural remedies, the growing demand for over-the-counter analgesics, the local special circumstances of a well-established healthcare system and competitive market, and the underlying macroeconomic factors of economic growth and high healthcare expenditure.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.