Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in GCC has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in the GCC region have played a crucial role in driving the growth of the Analgesics (Pharmacies) market. With a growing population and increasing disposable income, consumers in the region are becoming more health-conscious and are seeking effective pain relief solutions. This has led to a higher demand for analgesics products in pharmacies. Trends in the market have also contributed to the growth of the Analgesics (Pharmacies) market in GCC. One notable trend is the increasing preference for over-the-counter (OTC) analgesics products. Consumers in the region are increasingly opting for self-medication, and OTC analgesics offer a convenient and cost-effective solution for managing pain. This trend has led to an expansion in the range of OTC analgesics products available in pharmacies. Local special circumstances in the GCC region have also influenced the development of the Analgesics (Pharmacies) market. One such circumstance is the high prevalence of chronic conditions such as arthritis and back pain. These conditions require long-term pain management, leading to a sustained demand for analgesics products. Additionally, the hot climate in the region can exacerbate certain types of pain, further driving the need for analgesics. Underlying macroeconomic factors have also contributed to the growth of the Analgesics (Pharmacies) market in GCC. The region has witnessed steady economic growth, resulting in an increase in healthcare expenditure. This has led to improved healthcare infrastructure, including the expansion of pharmacies and the availability of a wider range of analgesics products. Furthermore, the GCC region has a high population growth rate, which has contributed to the increasing demand for healthcare services, including analgesics. In conclusion, the Analgesics (Pharmacies) market in GCC is experiencing significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing health-consciousness of consumers, the preference for OTC products, the high prevalence of chronic conditions, and the region's economic growth have all contributed to the development of the market. As the GCC region continues to evolve, the Analgesics (Pharmacies) market is expected to further expand in the coming years.
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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