Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in Bangladesh is experiencing steady growth due to several factors.
Customer preferences: Bangladesh has a growing population with increasing healthcare awareness, leading to a higher demand for analgesics. Consumers are becoming more conscious of their health and are seeking effective pain relief options. They prefer to purchase analgesics from pharmacies as they trust the quality and authenticity of the products available. Additionally, pharmacies offer convenience and accessibility, making it easier for customers to find the analgesics they need.
Trends in the market: One of the key trends in the analgesics market in Bangladesh is the increasing popularity of over-the-counter (OTC) analgesics. OTC analgesics are easily accessible without a prescription, allowing consumers to self-medicate for common ailments such as headaches, muscle pain, and fever. This trend is driven by the busy lifestyles of consumers who prefer quick and convenient solutions for their pain relief needs. Another trend is the growing demand for natural and herbal analgesics. Many consumers are becoming more health-conscious and are seeking alternative remedies to traditional pharmaceutical products. Natural analgesics made from plant-based ingredients are perceived as safer and have fewer side effects compared to synthetic analgesics. This trend is also influenced by traditional medicine practices in Bangladesh, which often incorporate herbal remedies.
Local special circumstances: Bangladesh has a high prevalence of infectious diseases, such as dengue fever and malaria. These diseases often cause symptoms such as fever and body pain, leading to an increased demand for analgesics. The local climate and environmental factors contribute to the spread of these diseases, creating a need for effective pain relief options.
Underlying macroeconomic factors: The economic growth in Bangladesh has led to an increase in disposable income among the population. As a result, consumers have more purchasing power to spend on healthcare products, including analgesics. The government's focus on improving healthcare infrastructure and services has also contributed to the growth of the analgesics market. The expansion of pharmacies and the availability of a wide range of analgesic products have made it easier for consumers to access pain relief options. In conclusion, the Analgesics (Pharmacies) market in Bangladesh is growing steadily due to increasing customer preferences for convenience and accessibility, as well as the demand for OTC and natural analgesics. The local special circumstances, such as the prevalence of infectious diseases, further drive the market. The underlying macroeconomic factors, including economic growth and government initiatives, also contribute to the market's development.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
