Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in Central Asia is witnessing significant growth and development due to various factors.
Customer preferences: Customers in Central Asia have shown a growing preference for over-the-counter analgesics available in pharmacies. This preference can be attributed to the convenience and accessibility of these products. Many customers prefer to self-medicate for minor aches and pains rather than visit a doctor, and analgesics provide a quick and easy solution. Additionally, customers in Central Asia place importance on affordability, and over-the-counter analgesics are often more cost-effective compared to prescription medications.
Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in Central Asia is the increasing demand for natural and herbal analgesics. Customers are becoming more health-conscious and are seeking products that are perceived as safer and more natural. This trend is driven by the growing awareness of the potential side effects of synthetic analgesics. As a result, pharmacies in Central Asia are expanding their product offerings to include a wider range of natural and herbal analgesics to cater to this demand. Another trend in the market is the rising popularity of online pharmacies. Customers in Central Asia are increasingly turning to online platforms to purchase analgesics. This trend can be attributed to the convenience and ease of online shopping, as well as the availability of a wider range of products. Online pharmacies also often offer competitive prices and discounts, which attract customers. This shift towards online purchasing is expected to continue driving the growth of the Analgesics (Pharmacies) market in Central Asia.
Local special circumstances: One of the unique factors influencing the Analgesics (Pharmacies) market in Central Asia is the traditional medicine practices prevalent in the region. Central Asian countries have a rich history of traditional medicine, and many customers still rely on traditional remedies for pain relief. This has created a niche market for pharmacies that offer traditional analgesic products alongside modern ones. Pharmacies in Central Asia are adapting to this demand by stocking traditional analgesics and promoting their benefits to customers.
Underlying macroeconomic factors: The growing middle-class population in Central Asia is a key driver of the Analgesics (Pharmacies) market. As disposable incomes rise, customers have more purchasing power and are willing to spend on healthcare products, including analgesics. Additionally, the increasing urbanization in Central Asia has led to a higher prevalence of sedentary lifestyles and desk jobs, which in turn has contributed to a rise in musculoskeletal issues and the demand for analgesics. Furthermore, the aging population in Central Asia is another macroeconomic factor influencing the market. As the population ages, the incidence of chronic pain conditions such as arthritis increases, leading to a higher demand for analgesics. Pharmacies in Central Asia are adapting to this demographic shift by offering a wider range of analgesics specifically targeted towards the elderly population. In conclusion, the Analgesics (Pharmacies) market in Central Asia is developing due to customer preferences for over-the-counter analgesics, the growing demand for natural and herbal products, the rise of online pharmacies, the influence of traditional medicine practices, and the underlying macroeconomic factors of a growing middle-class population and aging population.
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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