Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in Europe is experiencing steady growth due to customer preferences for over-the-counter pain relief medications, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Customers in Europe have shown a strong preference for over-the-counter analgesics purchased from pharmacies. This preference can be attributed to several factors. Firstly, customers value the convenience and accessibility of pharmacies, which are often located in close proximity to residential areas. Secondly, customers trust the expertise of pharmacists in recommending the appropriate pain relief medication for their needs. Thirdly, customers appreciate the wide range of analgesic options available in pharmacies, allowing them to choose the most suitable product for their specific symptoms.
Trends in the market: One notable trend in the Analgesics (Pharmacies) market in Europe is the increasing demand for natural and herbal pain relief products. Customers are becoming more conscious of the potential side effects of traditional analgesics and are seeking alternative options. This trend is driven by a growing interest in holistic health and wellness, as well as a desire for more sustainable and environmentally friendly products. As a result, pharmacies in Europe are expanding their range of natural and herbal analgesics to cater to this demand. Another trend in the market is the rising popularity of online pharmacy platforms. Customers are increasingly turning to online platforms to purchase their analgesics, due to the convenience and competitive pricing offered. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increase in online shopping across all sectors. As a result, pharmacies in Europe are investing in their online presence and expanding their e-commerce capabilities to meet the growing demand for online purchases.
Local special circumstances: Certain countries in Europe have unique circumstances that impact the Analgesics (Pharmacies) market. For example, in countries with an aging population, such as Germany and Italy, there is a higher demand for analgesics due to the prevalence of chronic pain conditions among older adults. Pharmacists in these countries play a crucial role in providing pain management advice and recommending suitable analgesics for elderly customers.
Underlying macroeconomic factors: The Analgesics (Pharmacies) market in Europe is influenced by several macroeconomic factors. Firstly, the overall economic growth in Europe has a positive impact on the market, as it increases disposable income levels and allows customers to spend more on healthcare products. Secondly, the increasing prevalence of chronic diseases, such as arthritis and migraines, drives the demand for analgesics. Lastly, government healthcare policies and regulations also play a role in shaping the market. For example, in countries with universal healthcare systems, analgesics may be partially or fully covered by insurance, leading to higher consumption. In conclusion, the Analgesics (Pharmacies) market in Europe is experiencing growth due to customer preferences for over-the-counter pain relief medications, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for natural and herbal analgesics, the rise of online pharmacy platforms, and the unique circumstances of certain countries all contribute to the development 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.
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