Market Insights Health Pharmacies OTC Products

Analgesics (Pharmacies) - Malta

Malta

Revenue in the Analgesics market is projected to reach US$26.70m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.28%, resulting in a market volume of US$32.93m 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$49.75 are generated in 2024.

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

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Analyst Opinion

The Analgesics (Pharmacies) market in Malta has been experiencing steady growth in recent years, driven by customer preferences for over-the-counter pain relief medications, as well as local special circumstances and underlying macroeconomic factors. Customer preferences in the Analgesics (Pharmacies) market in Malta have been shifting towards convenience and accessibility. Consumers are increasingly seeking quick and easy solutions for pain relief, and they prefer to purchase analgesics directly from pharmacies without the need for a prescription. This preference for over-the-counter medications has contributed to the growth of the market in Malta. Trends in the market indicate a growing demand for a wide range of analgesic products. Consumers in Malta are not only looking for traditional pain relief medications such as paracetamol and ibuprofen, but they are also interested in alternative forms of pain relief, such as topical creams and patches. This trend is driven by the desire for targeted pain relief and the convenience of these products. Local special circumstances in Malta have also played a role in the development of the Analgesics (Pharmacies) market. The country's aging population has led to an increased demand for pain relief medications, as older individuals are more likely to experience chronic pain and require regular analgesic treatment. Additionally, the tourism industry in Malta has contributed to the growth of the market, as tourists often seek over-the-counter pain relief medications during their visits. Underlying macroeconomic factors have further supported the growth of the Analgesics (Pharmacies) market in Malta. The country's stable economy and high standard of healthcare have created a favorable environment for the pharmaceutical industry. Additionally, the increasing disposable income of Maltese consumers has allowed them to spend more on healthcare products, including analgesics. In conclusion, the Analgesics (Pharmacies) market in Malta is developing due to customer preferences for over-the-counter pain relief medications, trends towards convenience and accessibility, local special circumstances such as an aging population and a thriving tourism industry, and underlying macroeconomic factors including a stable economy and increasing disposable income.

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.