Analgesics (Pharmacies) - Pakistan

Revenue in the Analgesics market is projected to reach US$115.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.20%, resulting in a market volume of US$163.30m 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$0.47 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 Pakistan has been experiencing steady growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: In Pakistan, customers have shown a growing preference for over-the-counter analgesics purchased from pharmacies. This shift in preference can be attributed to several factors. Firstly, customers are becoming more health-conscious and are actively seeking out remedies for common ailments such as headaches and body aches. Secondly, the convenience of purchasing analgesics from pharmacies, which are easily accessible and often open for extended hours, has also contributed to the increasing demand. Lastly, customers in Pakistan tend to trust the expertise of pharmacists and value their recommendations when it comes to choosing the right analgesic for their needs.

Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in Pakistan is the rising demand for non-opioid analgesics. This can be attributed to a growing awareness about the potential risks and side effects associated with opioid-based pain relievers. Customers are increasingly opting for non-opioid alternatives such as acetaminophen and nonsteroidal anti-inflammatory drugs (NSAIDs) like ibuprofen. This trend is in line with the global shift towards safer and more effective pain management options. Another trend in the market is the increasing availability of analgesics in different forms. Customers in Pakistan now have a wide range of options to choose from, including tablets, capsules, creams, and gels. This variety allows customers to select the most suitable form of analgesic based on their preferences and the nature of their pain. Additionally, the availability of analgesics in different strengths and dosages ensures that customers can find the right product for their specific needs.

Local special circumstances: One of the factors contributing to the growth of the Analgesics (Pharmacies) market in Pakistan is the high prevalence of chronic pain conditions in the country. Conditions such as arthritis, back pain, and migraines are common among the population, leading to a consistent demand for analgesics. The aging population in Pakistan is also a contributing factor, as older individuals are more likely to experience chronic pain and require regular pain management. Another special circumstance in Pakistan is the presence of a large number of independent pharmacies. These pharmacies often have a strong relationship with their local communities and are able to cater to the specific needs and preferences of their customers. This localized approach allows pharmacies to provide personalized recommendations and build trust with their customers, further driving the demand for analgesics.

Underlying macroeconomic factors: The growing middle class and increasing disposable income in Pakistan have also played a role in the development of the Analgesics (Pharmacies) market. As more individuals have the means to afford healthcare products, the demand for analgesics has risen. Additionally, the expanding healthcare infrastructure in the country, including the establishment of new pharmacies and healthcare facilities, has made analgesics more accessible to a larger population. In conclusion, the Analgesics (Pharmacies) market in Pakistan is experiencing growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The increasing demand for non-opioid analgesics, availability of analgesics in different forms, and the high prevalence of chronic pain conditions are driving the market forward. The presence of independent pharmacies and the growing middle class with increasing disposable income are also contributing to the market's growth.

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.