Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in Ethiopia is experiencing significant growth due to various factors.
Customer preferences: Customers in Ethiopia are increasingly seeking analgesics from pharmacies for pain relief. This preference can be attributed to the convenience and accessibility of pharmacies, as well as the trust placed in pharmacists to provide appropriate medication. Additionally, customers are becoming more aware of the benefits and availability of different analgesic options, leading to a higher demand for a variety of products.
Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in Ethiopia is the increasing demand for over-the-counter (OTC) analgesics. Customers are increasingly opting for OTC analgesics due to their ease of access and affordability. This trend is driven by the rising prevalence of minor ailments and the desire for self-medication. As a result, there is a growing demand for OTC analgesics such as paracetamol and ibuprofen. Another trend in the market is the growing popularity of natural and herbal analgesics. Customers are becoming more health-conscious and are seeking natural alternatives to traditional analgesics. This trend is driven by the perception that natural and herbal remedies have fewer side effects and are more sustainable. As a result, there is a demand for analgesics derived from natural ingredients such as turmeric, ginger, and willow bark.
Local special circumstances: Ethiopia has a rapidly growing population, which contributes to the increasing demand for analgesics. The country's population growth rate is one of the highest in Africa, leading to a larger customer base for the Analgesics (Pharmacies) market. Additionally, the country's healthcare system is expanding, with more pharmacies being established to meet the growing demand for medication. This expansion provides customers with increased access to analgesics.
Underlying macroeconomic factors: Ethiopia's growing economy and rising disposable income levels are contributing to the development of the Analgesics (Pharmacies) market. As the economy grows, more individuals have the means to purchase analgesics from pharmacies. Additionally, the government's efforts to improve healthcare infrastructure and increase access to essential medicines also play a role in the market's development. These macroeconomic factors create a favorable environment for the growth of the Analgesics (Pharmacies) market in Ethiopia. In conclusion, the Analgesics (Pharmacies) market in Ethiopia is experiencing growth due to customer preferences for convenience and accessibility, as well as increasing awareness of different analgesic options. The market is characterized by a growing demand for OTC analgesics and natural/herbal remedies. The country's rapidly growing population and expanding healthcare system contribute to the market's development. Furthermore, Ethiopia's growing economy and rising disposable income levels create a favorable environment for the market's growth.
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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