Market Insights Health Pharmacies OTC Products

Analgesics (Pharmacies) - Lesotho

Lesotho

Revenue in the Analgesics market is projected to reach US$0.61m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.86%, resulting in a market volume of US$0.85m by 2029.
In global comparison, most revenue will be generated in China (US$5,028.00m in 2024).
In relation to total population figures, per person revenues of US$0.26 are generated in 2024.

Key regions: China, South Korea, Canada, India, France

Market

Region

Region comparison

Currency

Analyst Opinion

The Analgesics (Pharmacies) market in Lesotho is experiencing steady growth, driven by several factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Lesotho play a significant role in shaping the development of the Analgesics market. Consumers in Lesotho have shown a growing preference for over-the-counter pain relief medications, such as analgesics, due to their convenience and accessibility. This preference is driven by the desire for immediate relief from common ailments such as headaches, muscle aches, and fever. Additionally, customers in Lesotho value the affordability of analgesics, as they are often priced lower than prescription medications. Trends in the market also contribute to the growth of the Analgesics market in Lesotho. One notable trend is the increasing demand for natural and herbal pain relief remedies. Customers are becoming more conscious of the potential side effects of synthetic medications and are seeking alternative options. This trend has led to the introduction of herbal analgesics in the market, which cater to the growing demand for natural remedies. Local special circumstances in Lesotho further drive the development of the Analgesics market. Lesotho has a high prevalence of certain health conditions, such as HIV/AIDS and tuberculosis, which can cause chronic pain and discomfort. As a result, there is a consistent demand for analgesics to alleviate the symptoms associated with these conditions. Additionally, Lesotho has a relatively young population, which is more prone to sports injuries and other types of acute pain. This creates a sustained need for analgesics in the market. Underlying macroeconomic factors also contribute to the growth of the Analgesics market in Lesotho. The country's improving economic conditions have led to an increase in disposable income, allowing consumers to spend more on healthcare products, including analgesics. Furthermore, Lesotho has witnessed an expansion in the healthcare sector, with the establishment of more pharmacies and healthcare facilities. This has increased the accessibility of analgesics to a wider population, further driving market growth. In conclusion, the Analgesics market in Lesotho is developing due to customer preferences for convenient and affordable pain relief medications, market trends towards natural remedies, local special circumstances such as prevalent health conditions, and underlying macroeconomic factors such as improving economic conditions and increased accessibility to healthcare facilities.

Methodology

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.