Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in Burkina Faso is experiencing steady growth due to various factors.
Customer preferences: Customers in Burkina Faso have shown a growing preference for analgesics purchased from pharmacies. This can be attributed to the trust and confidence that customers have in the quality and authenticity of products sold in pharmacies. The convenience of accessing these products in one location also plays a role in customer preferences.
Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in Burkina Faso is the increasing demand for over-the-counter analgesics. As customers become more aware of self-medication and seek quick relief from pain, they are turning to over-the-counter analgesics available in pharmacies. This trend is driven by the ease of access and affordability of these products. Another trend in the market is the growing demand for natural and herbal analgesics. Customers are becoming more health-conscious and are seeking alternative options to traditional analgesics. This trend is in line with the global shift towards natural and organic products. Pharmacies in Burkina Faso are responding to this trend by stocking a wider range of natural and herbal analgesics to cater to the changing customer preferences.
Local special circumstances: One of the special circumstances in Burkina Faso is the high prevalence of certain health conditions that require analgesics. Conditions such as malaria, which is endemic in the country, often result in fever and body aches, necessitating the use of analgesics. Additionally, Burkina Faso experiences a high incidence of musculoskeletal disorders, which also contribute to the demand for analgesics.
Underlying macroeconomic factors: The growing Analgesics (Pharmacies) market in Burkina Faso can be attributed to several macroeconomic factors. Firstly, the country's population is increasing, leading to a larger customer base for analgesics. Secondly, there has been an improvement in the overall healthcare infrastructure, including an increase in the number of pharmacies, making analgesics more accessible to the population. Lastly, rising disposable incomes have allowed more people to afford analgesics, driving the demand in the market. In conclusion, the Analgesics (Pharmacies) market in Burkina Faso is developing due to customer preferences for pharmacy-purchased products, the increasing demand for over-the-counter and natural analgesics, local special circumstances such as prevalent health conditions, and underlying macroeconomic factors such as population growth, improved healthcare infrastructure, and rising disposable incomes.
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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