Analgesics (Pharmacies) - Botswana

Revenue in the Analgesics market is projected to reach US$2.57m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.35%, resulting in a market volume of US$4.02m 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$0.95 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.
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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 Botswana is experiencing steady growth due to several factors.

Customer preferences: Customers in Botswana have shown a strong preference for analgesics purchased from pharmacies rather than other retail channels. This preference can be attributed to the trust and reliability associated with pharmacies, as well as the availability of professional advice from pharmacists. Additionally, customers in Botswana tend to prioritize convenience and accessibility when purchasing analgesics, making pharmacies an ideal choice.

Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in Botswana is the increasing demand for over-the-counter (OTC) analgesics. This trend can be attributed to the growing awareness and acceptance of self-medication among consumers. OTC analgesics provide a convenient and cost-effective solution for common ailments such as headaches and muscle pain. As a result, pharmacies in Botswana are expanding their OTC analgesic offerings to cater to this demand. Another trend in the market is the rising popularity of natural and herbal analgesics. Consumers in Botswana are becoming more health-conscious and are seeking alternative options to traditional analgesics. Natural and herbal analgesics are perceived to be safer and have fewer side effects compared to their synthetic counterparts. Pharmacies in Botswana are responding to this trend by introducing a wider range of natural and herbal analgesics to meet the evolving customer preferences.

Local special circumstances: One of the special circumstances in the Analgesics (Pharmacies) market in Botswana is the high prevalence of HIV/AIDS. Botswana has one of the highest HIV/AIDS prevalence rates in the world, which has led to a significant demand for analgesics to manage the associated symptoms such as pain and inflammation. Pharmacies play a crucial role in providing access to analgesics for HIV/AIDS patients, ensuring that they receive the necessary pain relief and support.

Underlying macroeconomic factors: Botswana's stable economic growth and increasing disposable income levels are contributing to the growth of the Analgesics (Pharmacies) market. As the economy continues to expand, more individuals have the financial capacity to purchase analgesics from pharmacies. Additionally, the government's focus on improving healthcare infrastructure and access to essential medicines further supports the growth of the market. In conclusion, the Analgesics (Pharmacies) market in Botswana is developing due to customer preferences for pharmacy channels, the increasing demand for OTC and natural analgesics, the special circumstances related to HIV/AIDS, and the underlying macroeconomic factors of stable economic growth and increasing disposable income levels.

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.