Analgesics (Pharmacies) - New Zealand

Revenue in the Analgesics market is projected to reach US$27.68m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.00%, resulting in a market volume of US$38.82m 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$5.25 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 New Zealand has been experiencing steady growth in recent years.

Customer preferences: Customers in New Zealand have shown a strong preference for analgesics purchased from pharmacies. This is due to the trust and convenience that pharmacies provide. Customers value the expertise and advice of pharmacists when it comes to choosing the right analgesic for their needs. Additionally, pharmacies offer a wide range of analgesic products, including both over-the-counter and prescription options, giving customers the flexibility to choose the most suitable option for their pain relief needs.

Trends in the market: One major trend in the New Zealand Analgesics market is the increasing demand for natural and alternative pain relief options. Customers are becoming more conscious of the ingredients in the products they use and are seeking out analgesics that are made from natural or organic ingredients. This trend is driven by a growing awareness of the potential side effects of traditional analgesics and a desire for more holistic approaches to pain relief. Another trend in the market is the rise of online sales of analgesics. With the increasing popularity of e-commerce, more customers are opting to purchase their analgesics online. This trend is driven by the convenience and ease of online shopping, as well as the availability of a wider range of products compared to physical stores. Online platforms also provide customers with the opportunity to compare prices and read reviews before making a purchase, further enhancing the customer experience.

Local special circumstances: New Zealand has a unique geographical location and climate, which has an impact on the Analgesics market. The country's remote location and small population can result in higher prices for imported analgesics. This can make it more difficult for customers to access affordable pain relief options, particularly for those living in rural areas. However, the New Zealand government has implemented measures to address this issue, such as subsidies for prescription analgesics, to ensure that all citizens have access to affordable pain relief.

Underlying macroeconomic factors: The growing aging population in New Zealand is a significant macroeconomic factor driving the growth of the Analgesics market. As the population ages, the demand for pain relief products is expected to increase. This is due to the higher prevalence of chronic pain conditions among older individuals. Additionally, the increasing focus on healthcare and wellness in New Zealand is expected to drive the demand for analgesics, as more people prioritize their health and seek out pain relief options. In conclusion, the Analgesics (Pharmacies) market in New Zealand is experiencing steady growth due to customer preferences for pharmacy-based purchases, the increasing demand for natural and alternative pain relief options, the rise of online sales, and the unique local circumstances and 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.

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.