Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in Greece is experiencing steady growth due to several factors.
Customer preferences: Greek consumers have shown a growing preference for over-the-counter analgesics purchased from pharmacies. This is primarily driven by the convenience of purchasing these products without a prescription, as well as the trust placed in pharmacists to provide accurate advice and recommendations. Additionally, the affordability of analgesics compared to prescription medications makes them an attractive option for consumers.
Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in Greece is the increasing demand for natural and herbal remedies. Consumers are becoming more conscious of the potential side effects of traditional analgesics and are seeking alternative options. As a result, pharmacies are expanding their product offerings to include a wider range of natural analgesics, such as herbal supplements and homeopathic remedies. Another trend in the market is the rising popularity of online pharmacies. Greek consumers are increasingly turning to online platforms to purchase their analgesics due to the convenience and competitive pricing offered by these platforms. This trend has been further accelerated by the COVID-19 pandemic, which has led to a greater emphasis on e-commerce and contactless transactions.
Local special circumstances: Greece has a well-established network of pharmacies, with a high concentration of pharmacies per capita compared to other countries. This dense network ensures easy access to analgesics for Greek consumers, regardless of their location. Additionally, the Greek government has implemented regulations to control the pricing of pharmaceutical products, ensuring that analgesics remain affordable for the general population.
Underlying macroeconomic factors: The Greek economy has been recovering from a prolonged period of economic crisis, which has resulted in increased consumer spending power. As a result, consumers are more willing to spend on healthcare products, including analgesics. Furthermore, the aging population in Greece is driving the demand for analgesics, as older individuals are more likely to experience chronic pain and require regular pain relief medication. In conclusion, the Analgesics (Pharmacies) market in Greece is growing steadily due to the preferences of Greek consumers for over-the-counter analgesics purchased from pharmacies. The market is also influenced by trends such as the increasing demand for natural remedies and the rise of online pharmacies. The local special circumstances, including the dense network of pharmacies and government regulations on pricing, further contribute to the market's development. Finally, underlying macroeconomic factors, such as the recovering economy and the aging population, play a significant role in driving the demand for analgesics in Greece.
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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