Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in BRICS is experiencing significant growth due to various factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the development of the market. Customer preferences play a crucial role in the growth of the Analgesics (Pharmacies) market in BRICS. As consumers become more health-conscious and seek relief from pain and discomfort, the demand for analgesics has increased. Customers are looking for effective and affordable pain relief solutions, driving the growth of the market. Trends in the market also contribute to the development of the Analgesics (Pharmacies) market in BRICS. One trend is the increasing availability and accessibility of analgesics in pharmacies. Pharmacies are expanding their product offerings to include a wide range of analgesics, catering to the growing demand. This trend is driven by the need for convenience and easy access to pain relief medications. Another trend is the growing popularity of natural and herbal analgesics. Customers are becoming more conscious of the potential side effects of traditional analgesics and are seeking alternative options. This trend has led to the introduction of natural and herbal analgesics in the market, which are gaining traction among consumers. Local special circumstances also play a role in the development of the Analgesics (Pharmacies) market in BRICS. Each country in the BRICS group has its own unique healthcare system and regulations, which can impact the availability and accessibility of analgesics. For example, in some countries, analgesics may be available over-the-counter, while in others, they may require a prescription. These local regulations can influence the growth and development of the market. Underlying macroeconomic factors also contribute to the growth of the Analgesics (Pharmacies) market in BRICS. Economic growth and rising disposable incomes in these countries have increased the affordability of healthcare products, including analgesics. As more people can afford to purchase analgesics, the demand for these products increases, driving market growth. In conclusion, the Analgesics (Pharmacies) market in BRICS is experiencing significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As consumers seek effective and affordable pain relief solutions, pharmacies are expanding their product offerings and introducing natural and herbal analgesics. Local regulations and economic factors also play a role in shaping the market.
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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