Market Insights Health Pharmacies OTC Products

Analgesics (Pharmacies) - Cameroon

Cameroon

Revenue in the Analgesics market is projected to reach US$34.58m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.99%, resulting in a market volume of US$44.11m by 2029.
In global comparison, most revenue will be generated in China (US$5,028.00m in 2024).
In relation to total population figures, per person revenues of US$1.18 are generated in 2024.

Key regions: China, South Korea, Canada, India, France

Market

Region

Region comparison

Currency

Analyst Opinion

The Analgesics (Pharmacies) market in Cameroon is experiencing significant growth due to various factors.

Customer preferences: Customers in Cameroon have shown a growing preference for analgesics purchased from pharmacies. This is primarily due to the trust and confidence that customers have in the quality and authenticity of products available in pharmacies. Additionally, customers prefer the convenience of purchasing analgesics from pharmacies, as they can easily consult with pharmacists for advice and recommendations.

Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in Cameroon is the increasing demand for over-the-counter analgesics. Customers are increasingly seeking self-medication options for common ailments such as headaches, muscle aches, and fever. This trend can be attributed to the rising awareness among customers about the availability and effectiveness of over-the-counter analgesics. Another trend in the market is the growing popularity of natural and herbal analgesics. Customers in Cameroon are becoming more conscious of the potential side effects of synthetic analgesics and are opting for natural alternatives. This trend is driven by the belief that natural analgesics are safer and have fewer adverse effects on health.

Local special circumstances: Cameroon has a growing population with an increasing prevalence of chronic diseases such as arthritis and back pain. This has contributed to the rising demand for analgesics in the country. Additionally, the country has a high incidence of infectious diseases such as malaria, which often leads to fever and body aches. This further drives the demand for analgesics.

Underlying macroeconomic factors: Cameroon has been experiencing steady economic growth in recent years, which has led to an increase in disposable income among the population. This has positively impacted the purchasing power of consumers, allowing them to spend more on healthcare products, including analgesics. Furthermore, the government of Cameroon has been investing in improving healthcare infrastructure and services, which has also contributed to the growth of the Analgesics (Pharmacies) market. In conclusion, the Analgesics (Pharmacies) market in Cameroon is witnessing growth due to customer preferences for pharmacy-purchased analgesics, increasing demand for over-the-counter and natural analgesics, the prevalence of chronic and infectious diseases, and the country's economic growth and healthcare investments.

Methodology

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.