Analgesics (Pharmacies) - Estonia

Revenue in the Analgesics market is projected to reach US$34.25m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.78%, resulting in a market volume of US$52.16m 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$25.96 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 Estonia has been experiencing steady growth in recent years, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Estonia have played a significant role in the development of the Analgesics market. There is a growing demand for over-the-counter pain relief medications, as consumers increasingly seek quick and convenient solutions for minor aches and pains. This preference for self-medication has led to an increased reliance on pharmacies for analgesics, as they provide easy access to a wide range of products. Trends in the market have also contributed to the growth of the Analgesics market in Estonia. One notable trend is the rising popularity of natural and alternative pain relief options. Consumers are becoming more health-conscious and are seeking products that are perceived as safer and more sustainable. This has led to an increased demand for analgesics derived from natural ingredients, such as herbal remedies and essential oils. Another trend in the market is the growing emphasis on online sales and e-commerce. With the increasing penetration of internet and smartphones in Estonia, consumers are increasingly turning to online platforms to purchase analgesics. Online pharmacies offer convenience, competitive pricing, and a wide range of products, making them an attractive option for many consumers. Local special circumstances also play a role in the development of the Analgesics market in Estonia. The country has a well-developed healthcare system, with a high level of accessibility to pharmacies. This makes it easier for consumers to seek advice and purchase analgesics, further driving market growth. Underlying macroeconomic factors have also contributed to the growth of the Analgesics market in Estonia. The country has experienced stable economic growth in recent years, leading to higher disposable incomes and increased consumer spending. As a result, consumers are more willing to spend on healthcare products, including analgesics, further boosting market demand. In conclusion, the Analgesics (Pharmacies) market in Estonia is developing in response to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The growing demand for over-the-counter pain relief medications, the popularity of natural and alternative options, the rise of online sales, the accessibility of pharmacies, and the stable economic growth in the country are all contributing to the growth of the market.

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.