Analgesics (Pharmacies) - Lithuania

Revenue in the Analgesics market is projected to reach US$55.58m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.13%, resulting in a market volume of US$86.03m 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$20.64 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 Lithuania has been experiencing steady growth in recent years, driven by several factors.

Customer preferences: Lithuanian consumers have shown a growing preference for over-the-counter analgesics, particularly those available in pharmacies. This can be attributed to the convenience and accessibility of pharmacies, as well as the trust and confidence that consumers have in the expertise of pharmacists. Additionally, there is a growing awareness among consumers about the importance of self-care and the management of minor ailments, leading to an increased demand for analgesics.

Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in Lithuania is the shift towards natural and herbal remedies. Consumers are becoming more conscious of the potential side effects of synthetic drugs and are seeking alternative solutions. This has led to an increase in the demand for analgesics made from natural ingredients, such as herbal extracts and essential oils. Additionally, there is a growing trend towards personalized medicine, with consumers seeking products that are tailored to their specific needs and preferences.

Local special circumstances: Lithuania has a well-developed healthcare system, with a strong emphasis on primary healthcare services. Pharmacies play a crucial role in this system, serving as the first point of contact for many patients. This has created a favorable environment for the growth of the Analgesics (Pharmacies) market, as pharmacies are able to provide convenient access to a wide range of analgesics and other healthcare products. Furthermore, the government has implemented policies to promote the use of generic drugs, which has helped to drive down prices and increase affordability for consumers.

Underlying macroeconomic factors: The growth of the Analgesics (Pharmacies) market in Lithuania can be attributed to several macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income levels. This has allowed consumers to spend more on healthcare products, including analgesics. Additionally, the aging population in Lithuania has contributed to the growth of the market, as older individuals are more likely to experience chronic pain and require analgesics for pain management. Finally, the increasing prevalence of lifestyle-related diseases, such as obesity and diabetes, has also contributed to the growth of the market, as these conditions often require the use of analgesics for symptom management. In conclusion, the Analgesics (Pharmacies) market in Lithuania is experiencing steady growth due to customer preferences for over-the-counter analgesics, the shift towards natural and herbal remedies, the role of pharmacies in the healthcare system, and underlying macroeconomic factors such as economic growth, an aging population, and the prevalence of lifestyle-related diseases.

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.