Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in G20 countries is experiencing significant growth due to several factors. Customer preferences for over-the-counter pain relief medications, increasing healthcare awareness, and the rising prevalence of chronic diseases are driving the demand for analgesics in these countries. Additionally, local special circumstances and underlying macroeconomic factors contribute to the development of the market. Customer preferences for over-the-counter pain relief medications play a crucial role in the growth of the Analgesics market in G20 countries. Consumers prefer easily accessible and affordable options for managing their pain, and over-the-counter analgesics fulfill these requirements. The convenience of purchasing these medications from pharmacies without a prescription further contributes to their popularity. As a result, the demand for analgesics in G20 countries continues to rise. Furthermore, increasing healthcare awareness is driving the growth of the Analgesics market in G20 countries. Consumers are becoming more proactive in managing their health and are seeking effective solutions for pain relief. With the availability of a wide range of analgesics in pharmacies, consumers have access to various options to address their specific needs. This growing awareness of healthcare options and the desire for self-care contribute to the expansion of the market. The rising prevalence of chronic diseases is another significant factor contributing to the development of the Analgesics market in G20 countries. Chronic conditions such as arthritis, back pain, and migraines require long-term pain management solutions. Analgesics provide a convenient and effective way to alleviate pain associated with these conditions. As the number of individuals affected by chronic diseases continues to increase, so does the demand for analgesics. Local special circumstances also play a role in the growth of the Analgesics market in G20 countries. Each country has its own unique healthcare system and regulations, which can impact the availability and accessibility of analgesics. Factors such as government policies, reimbursement schemes, and cultural attitudes towards pain management can influence the market dynamics. Understanding these local special circumstances is crucial for businesses operating in the Analgesics market in G20 countries to effectively cater to the needs of their target customers. Underlying macroeconomic factors also contribute to the development of the Analgesics market in G20 countries. Economic growth, population demographics, and healthcare expenditure are key macroeconomic factors that influence the demand for healthcare products, including analgesics. As G20 countries experience economic growth and an aging population, the demand for analgesics is expected to continue to rise. Additionally, increased healthcare expenditure and investment in healthcare infrastructure further support the growth of the market. In conclusion, the Analgesics market in G20 countries is developing due to customer preferences for over-the-counter pain relief medications, increasing healthcare awareness, and the rising prevalence of chronic diseases. Local special circumstances and underlying macroeconomic factors also contribute to the growth of the market. Understanding these trends and factors is essential for businesses operating in the Analgesics market in G20 countries to capitalize on the opportunities and effectively meet the needs of their customers.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
