Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in CIS is experiencing steady growth due to increasing customer preferences for over-the-counter pain relief medications. Customers in the region are increasingly seeking convenient and accessible solutions for managing pain, which has led to a rise in demand for analgesics in pharmacies.
Customer preferences: Customers in CIS countries are increasingly turning to pharmacies for their analgesic needs due to the convenience and accessibility they offer. Pharmacies are easily accessible in urban areas, and customers can easily find a wide range of analgesics to choose from. Furthermore, pharmacies often have knowledgeable staff who can provide guidance and recommendations on the most suitable analgesics for specific types of pain. This personalized service is highly valued by customers and contributes to the growing preference for purchasing analgesics from pharmacies.
Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in CIS is the increasing demand for non-opioid analgesics. With growing concerns about the addictive nature of opioid-based pain medications, customers are seeking alternative options that provide effective pain relief without the risk of addiction. Non-opioid analgesics such as nonsteroidal anti-inflammatory drugs (NSAIDs) and acetaminophen are gaining popularity among customers in CIS countries. These medications are widely available in pharmacies and are considered safe for short-term use. Another trend in the market is the rising demand for natural and herbal analgesics. Customers in CIS countries are becoming more conscious of the potential side effects of conventional analgesics and are seeking natural alternatives. Herbal analgesics, such as those containing ingredients like arnica, turmeric, or chamomile, are increasingly being sought after by customers. Pharmacies are responding to this trend by expanding their range of natural and herbal analgesics to cater to the growing demand.
Local special circumstances: One of the special circumstances in the CIS region is the prevalence of traditional medicine practices. Many customers in CIS countries have a long-standing tradition of using herbal remedies and alternative therapies for pain relief. This cultural preference for natural remedies has influenced the demand for natural and herbal analgesics in pharmacies. Pharmacies in the region are adapting to this local preference by stocking a wide range of natural and herbal analgesics alongside conventional medications.
Underlying macroeconomic factors: The growing Analgesics (Pharmacies) market in CIS can be attributed to several underlying macroeconomic factors. The region has experienced steady economic growth in recent years, leading to an increase in disposable income among the population. As a result, customers have more purchasing power to spend on healthcare products, including analgesics. Additionally, the aging population in CIS countries is driving the demand for analgesics as older individuals are more likely to experience chronic pain and require pain management solutions. Furthermore, the increasing urbanization in CIS countries has contributed to the growth of the Analgesics (Pharmacies) market. As more people move to urban areas, the demand for accessible healthcare services, including pharmacies, has increased. Pharmacies are strategically located in urban areas, making it convenient for customers to purchase analgesics when needed. In conclusion, the Analgesics (Pharmacies) market in CIS is witnessing growth due to customer preferences for convenient and accessible pain relief solutions. The demand for non-opioid and natural analgesics is on the rise, driven by concerns about addiction and a cultural preference for herbal remedies. The underlying macroeconomic factors of economic growth, an aging population, and urbanization are also contributing to the market's development. Pharmacies in CIS countries are adapting to these trends and special circumstances by expanding their range of analgesics to meet the evolving customer demands.
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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