Analgesics (Pharmacies) - Fiji | Statista Market Forecast

Revenue in the Analgesics market is projected to reach US$768.40k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.61%, resulting in a market volume of US$1.11m 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$0.81 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 Fiji is experiencing steady growth due to several factors.

Customer preferences: Customers in Fiji have shown a growing preference for analgesics purchased from pharmacies rather than other retail outlets. This is primarily due to the trust and reliability associated with pharmacies, as well as the convenience of being able to seek advice from trained pharmacists. Additionally, customers in Fiji tend to prioritize quality and safety when it comes to healthcare products, making pharmacies their preferred choice for purchasing analgesics.

Trends in the market: One major trend in the Analgesics (Pharmacies) market in Fiji is the increasing demand for over-the-counter (OTC) analgesics. This trend can be attributed to the rising awareness among consumers about self-medication and the ease of access to OTC products in pharmacies. Customers are increasingly seeking quick relief from minor pain and discomfort, and OTC analgesics provide a convenient solution. Another trend in the market is the growing demand for natural and herbal analgesics. This trend is driven by the increasing popularity of natural remedies and the perception that they are safer and have fewer side effects compared to synthetic analgesics. Customers in Fiji are increasingly seeking alternatives to traditional analgesics, and pharmacies are responding to this demand by expanding their range of natural and herbal analgesics.

Local special circumstances: Fiji is an island nation with a unique healthcare system that is heavily reliant on pharmacies. Due to the geographical distribution of the population, pharmacies are often the most accessible healthcare providers for many Fijians. This has created a strong demand for pharmaceutical products, including analgesics, in the country. Additionally, pharmacies in Fiji play a crucial role in providing healthcare advice and services, making them an integral part of the healthcare ecosystem.

Underlying macroeconomic factors: Fiji has experienced steady economic growth in recent years, which has contributed to the growth of the Analgesics (Pharmacies) market. As the economy improves, consumers have more disposable income to spend on healthcare products, including analgesics. This has led to an increase in the demand for analgesics in pharmacies. Furthermore, the government of Fiji has made healthcare a priority, investing in the development of healthcare infrastructure and promoting access to healthcare services. This has created a favorable environment for the growth of the Analgesics (Pharmacies) market in Fiji, as pharmacies are able to provide affordable and accessible healthcare products to the population. In conclusion, the Analgesics (Pharmacies) market in Fiji is growing steadily due to customer preferences for pharmacy purchases, the increasing demand for OTC and natural analgesics, the unique circumstances of the healthcare system in Fiji, and the underlying macroeconomic factors of economic growth and government investment in healthcare.

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.