Analgesics (Pharmacies) - Chile | Statista Market Forecast

Revenue in the Analgesics market is projected to reach US$59.58m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.63%, resulting in a market volume of US$78.34m 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$3.03 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 Chile has been experiencing significant growth in recent years.

Customer preferences: Chilean consumers have shown a growing preference for analgesics purchased from pharmacies. This can be attributed to several factors. Firstly, pharmacies are seen as a trusted source for healthcare products, and consumers feel more confident in the quality and efficacy of analgesics purchased from these establishments. Additionally, pharmacies often offer a wide range of analgesic options, allowing consumers to choose products that best suit their needs.

Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in Chile is the increasing demand for over-the-counter (OTC) analgesics. This can be attributed to several factors. Firstly, consumers are becoming more proactive in managing their health and are seeking immediate relief for common ailments such as headaches and muscle pain. OTC analgesics provide a convenient and accessible solution for these consumers. Additionally, the availability of a wide range of OTC analgesics in pharmacies allows consumers to choose products that best suit their specific needs. Another trend in the market is the growing popularity of natural and herbal analgesics. Consumers are increasingly seeking alternative and holistic remedies for pain relief, and natural and herbal analgesics are seen as a safer and more sustainable option compared to conventional pharmaceutical products. Pharmacies have responded to this trend by expanding their product offerings to include a variety of natural and herbal analgesics, catering to the changing preferences of consumers.

Local special circumstances: Chile has a well-established healthcare system, with a strong emphasis on pharmaceutical regulation and safety. This has contributed to the trust and confidence that consumers have in pharmacies as a reliable source for analgesics. Additionally, the presence of a large number of pharmacies throughout the country ensures easy access to analgesics for consumers, further driving the growth of the market.

Underlying macroeconomic factors: Chile has experienced steady economic growth in recent years, which has led to an increase in disposable income among consumers. This has allowed consumers to spend more on healthcare products, including analgesics. Additionally, the aging population in Chile has contributed to the growth of the Analgesics (Pharmacies) market, as older individuals are more likely to experience chronic pain and require regular analgesic medication. In conclusion, the Analgesics (Pharmacies) market in Chile is experiencing growth due to customer preferences for pharmacy-purchased analgesics, the increasing demand for OTC analgesics, the popularity of natural and herbal remedies, the well-established healthcare system, and the underlying macroeconomic factors of economic growth and an 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.

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.