Analgesics (Pharmacies) - Ireland

Revenue in the Analgesics market is projected to reach US$41.83m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.77%, resulting in a market volume of US$50.34m 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$8.22 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 Ireland has been experiencing steady growth in recent years.

Customer preferences: Irish consumers have shown a strong preference for over-the-counter analgesics, which can be easily purchased at pharmacies without a prescription. This preference is driven by the convenience of accessing these medications without the need for a doctor's visit. Additionally, Irish consumers tend to trust the expertise of pharmacists in recommending the right analgesic for their needs.

Trends in the market: One of the key trends in the Analgesics market in Ireland 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. This has led to the introduction of a variety of natural and herbal analgesic products in the market, catering to this growing demand. Another trend in the market is the rising popularity of online pharmacies. Irish consumers are increasingly turning to online platforms to purchase their analgesics, as it offers the convenience of home delivery and a wider range of products to choose from. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increase in online shopping across all sectors.

Local special circumstances: Ireland has a well-established network of community pharmacies, which play a crucial role in the distribution of analgesics. These pharmacies are easily accessible to consumers and provide personalized advice on the appropriate analgesic for their needs. This local infrastructure has contributed to the growth of the Analgesics market in Ireland.

Underlying macroeconomic factors: The growing demand for analgesics in Ireland can be attributed to several underlying macroeconomic factors. Firstly, the aging population in Ireland is driving the need for pain relief medications. As people age, they are more likely to experience chronic pain conditions that require regular analgesic use. Secondly, the increasing prevalence of lifestyle-related conditions such as arthritis and back pain is also contributing to the growth of the Analgesics market. Sedentary lifestyles, poor posture, and obesity are common issues in modern society, leading to an increased demand for pain relief medications. Lastly, the overall economic stability and disposable income levels in Ireland have also played a role in the growth of the Analgesics market. As consumers have more discretionary income, they are more likely to spend on healthcare products, including analgesics. In conclusion, the Analgesics (Pharmacies) market in Ireland is experiencing steady growth due to customer preferences for over-the-counter medications, the increasing demand for natural and herbal remedies, the rise of online pharmacies, the well-established network of community pharmacies, the aging population, the prevalence of lifestyle-related conditions, and the overall economic stability in the country.

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.