Analgesics (Pharmacies) - Gambia | Statista Market Forecast

Revenue in the Analgesics market is projected to reach US$584.60k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.69%, resulting in a market volume of US$928.30k 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$0.21 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 Gambia has been experiencing steady growth in recent years, driven by customer preferences for over-the-counter pain relief medication, as well as local special circumstances and underlying macroeconomic factors. Customer preferences in the Analgesics (Pharmacies) market in Gambia are influenced by several factors. Firstly, there is a growing awareness among consumers about the importance of self-care and managing minor ailments at home. This has led to an increased demand for analgesics that can be easily purchased without a prescription. Additionally, the convenience of purchasing analgesics from pharmacies, where trained pharmacists can provide advice and recommendations, is also a key driver of customer preferences. Trends in the market reflect these customer preferences. There has been a shift towards the use of non-opioid analgesics, such as nonsteroidal anti-inflammatory drugs (NSAIDs) and acetaminophen, due to their effectiveness in relieving pain and reducing inflammation. This trend is in line with global market trends, as non-opioid analgesics are considered safer and have fewer side effects compared to opioid-based pain medications. As a result, pharmaceutical companies are investing in the development and marketing of non-opioid analgesics to cater to this growing demand. Local special circumstances in Gambia also contribute to the development of the Analgesics (Pharmacies) market. The country has a high burden of infectious diseases, such as malaria and HIV/AIDS, which can cause pain and discomfort. As a result, there is a significant demand for analgesics to alleviate these symptoms. Furthermore, Gambia has a young population, with a large proportion of the population under the age of 25. This demographic factor contributes to a higher incidence of minor injuries and musculoskeletal pain, further driving the demand for analgesics. Underlying macroeconomic factors also play a role in the development of the Analgesics (Pharmacies) market in Gambia. The country has been experiencing steady economic growth in recent years, which has led to an increase in disposable income and improved access to healthcare services. This has resulted in a higher demand for analgesics as consumers are more willing and able to spend on healthcare products. Additionally, the government of Gambia has been investing in healthcare infrastructure and improving access to essential medicines, including analgesics, which has further contributed to market growth. In conclusion, the Analgesics (Pharmacies) market in Gambia is developing in response to customer preferences for over-the-counter pain relief medication, as well as local special circumstances and underlying macroeconomic factors. The shift towards non-opioid analgesics, driven by a growing awareness of self-care and the convenience of purchasing from pharmacies, is a key trend in the market. The high burden of infectious diseases and young population in Gambia also contribute to the demand for analgesics. Furthermore, steady economic growth and government investments in healthcare infrastructure have improved access to analgesics for the population.

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.