Analgesics (Pharmacies) - Malta | Statista Market Forecast

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 China (US$5.03bn in 2024).
In relation to total population figures, per person revenues of US$49.75 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.
For more information on the data displayed, use the info button next to the boxes.

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 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.

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.