Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in Israel has been experiencing steady growth in recent years.
Customer preferences: Israeli consumers have shown a growing preference for over-the-counter analgesics purchased from pharmacies. This can be attributed to several factors. Firstly, the convenience of purchasing these products from pharmacies, which are easily accessible in both urban and rural areas. Secondly, the trust that consumers have in the expertise of pharmacists, who can provide advice and recommendations on the most suitable analgesics for their needs. Lastly, the increasing awareness among Israeli consumers about the potential side effects of prescription painkillers, leading them to opt for milder and safer over-the-counter options.
Trends in the market: One notable trend in the Analgesics (Pharmacies) market in Israel is the growing demand for natural and herbal analgesic products. This can be attributed to the increasing popularity of alternative medicine and a general shift towards more natural and organic products. Israeli consumers are becoming more conscious of the ingredients in the products they consume and are actively seeking out analgesics that are derived from natural sources. This trend is reflected in the growing availability of natural analgesic products in pharmacies across the country. Another trend in the market is the rising demand for analgesics specifically formulated for certain demographics, such as children and the elderly. This can be attributed to the aging population in Israel and the increasing number of children with chronic conditions. As a result, pharmaceutical companies are developing analgesic products that are tailored to the specific needs of these demographics, such as lower dosages for children and extended-release formulations for the elderly.
Local special circumstances: One of the unique factors influencing the Analgesics (Pharmacies) market in Israel is the country's universal healthcare system. The Israeli government provides healthcare coverage to all citizens, which includes coverage for prescription medications. However, there are certain medications, including some analgesics, that are not covered by the national health insurance program. This has led to an increased demand for over-the-counter analgesics, as they are more affordable and accessible to the general population.
Underlying macroeconomic factors: Israel has a strong and stable economy, which has contributed to the growth of the Analgesics (Pharmacies) market. The country has a high standard of living and a relatively high disposable income, which allows consumers to spend more on healthcare products, including analgesics. Additionally, the government's investment in healthcare infrastructure and the presence of a well-regulated pharmaceutical industry have also played a role in driving the growth of the market. In conclusion, the Analgesics (Pharmacies) market in Israel is experiencing steady growth due to customer preferences for over-the-counter products, the rising demand for natural and demographic-specific analgesics, the country's universal healthcare system, and the underlying macroeconomic factors.
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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