Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in Hungary has experienced steady growth over the past few years. Customer preferences have played a significant role in shaping this market, as well as local special circumstances and underlying macroeconomic factors.
Customer preferences: Hungarian customers have shown a growing demand for analgesics purchased from pharmacies. This preference can be attributed to several factors. Firstly, customers value the convenience of purchasing analgesics from pharmacies, as it allows them to receive professional advice from pharmacists. Secondly, there is a growing awareness among customers about the potential risks and side effects associated with self-medication, leading them to seek guidance from healthcare professionals. Lastly, the increasing prevalence of chronic pain conditions among the population has also contributed to the rising demand for analgesics.
Trends in the market: One notable trend in the Analgesics (Pharmacies) market in Hungary is the increasing popularity of non-opioid analgesics. Customers are increasingly opting for non-opioid analgesics due to concerns about the addictive nature of opioid-based medications. This trend aligns with global market trends, as there has been a shift towards non-opioid alternatives in many countries. Additionally, there has been a growing demand for over-the-counter analgesics, as customers seek immediate relief for minor aches and pains without the need for a prescription.
Local special circumstances: Hungary has a well-established healthcare system, with a strong emphasis on pharmaceutical regulations and quality control. This has contributed to the trust and confidence that customers have in purchasing analgesics from pharmacies. Furthermore, the government has implemented policies to promote the use of generic medications, which has made analgesics more accessible and affordable for customers.
Underlying macroeconomic factors: The growing Analgesics (Pharmacies) market in Hungary can also be attributed to underlying macroeconomic factors. The country has experienced stable economic growth over the past few years, leading to increased disposable income among the population. This has allowed customers to allocate a larger portion of their budget towards healthcare expenses, including the purchase of analgesics. Additionally, Hungary has an aging population, which has contributed to the increased demand for analgesics as older individuals are more likely to experience chronic pain conditions. In conclusion, the Analgesics (Pharmacies) market in Hungary has seen steady growth due to customer preferences for purchasing analgesics from pharmacies, the popularity of non-opioid alternatives, the accessibility of over-the-counter analgesics, the country's well-established healthcare system, and underlying macroeconomic factors such as stable economic growth and an aging 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.
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)
