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