Analgesics (Pharmacies) - Indonesia

Revenue in the Analgesics market is projected to reach US$250.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.12%, resulting in a market volume of US$387.10m 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$0.89 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 Indonesia is experiencing steady growth due to changing customer preferences and increasing demand for pain relief medications.

Customer preferences: Customers in Indonesia are becoming more health-conscious and are actively seeking ways to manage their pain and discomfort. As a result, there is a growing preference for over-the-counter analgesics that can be easily purchased from pharmacies without a prescription. This shift in customer preferences towards self-medication is driving the demand for analgesics in the country.

Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in Indonesia is the increasing popularity of herbal and natural pain relief products. Customers are becoming more inclined towards products that are perceived to be safer and have fewer side effects. This has led to the introduction of a wide range of herbal analgesics in the market, which are gaining traction among consumers. Another trend in the market is the rising demand for combination analgesics. These are medications that contain two or more active ingredients to provide relief from multiple symptoms. Combination analgesics are preferred by customers as they offer a convenient and comprehensive solution for pain management.

Local special circumstances: Indonesia has a large population, which contributes to the growing demand for analgesics. The country's healthcare system is still developing, and access to medical professionals may be limited in certain areas. This has led to an increased reliance on pharmacies for healthcare advice and medication. Pharmacies play a crucial role in providing access to analgesics and other healthcare products to the population.

Underlying macroeconomic factors: The growing middle class and increasing disposable income in Indonesia are driving the demand for analgesics. As more people are able to afford healthcare products, the market for analgesics is expanding. Additionally, the aging population in Indonesia is also contributing to the growth of the market, as older individuals are more likely to experience chronic pain and require regular pain relief medication. In conclusion, the Analgesics (Pharmacies) market in Indonesia is witnessing growth due to changing customer preferences, including a shift towards self-medication and a preference for herbal and natural pain relief products. The market is also driven by local special circumstances, such as limited access to medical professionals and the role of pharmacies in providing healthcare advice and medication. The underlying macroeconomic factors, including the growing middle class and aging population, are further contributing to the expansion of the market.

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.