Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in Peru is experiencing significant growth and development.
Customer preferences: Peruvian consumers have shown a growing preference for analgesics purchased from pharmacies rather than other retail channels. This preference can be attributed to the trust and credibility associated with pharmacies, as well as the convenience of accessing a wide range of analgesic products in one location. Additionally, customers in Peru are increasingly seeking out analgesics that offer quick and effective relief from pain, as well as those that are safe and have minimal side effects.
Trends in the market: One of the key trends in the analgesics market in Peru is the increasing demand for over-the-counter (OTC) analgesics. This trend can be attributed to several factors, including the rising awareness among consumers about self-care and the growing availability of OTC analgesics in pharmacies. Furthermore, the ease of access to OTC analgesics without the need for a prescription has contributed to their popularity among consumers. Another trend in the market is the growing demand for natural and herbal analgesics. Peruvian consumers are becoming more conscious of the potential side effects of traditional analgesics and are seeking alternative options that are perceived as safer and more natural. This trend is driven by the increasing popularity of natural remedies and the perception that herbal analgesics have fewer side effects.
Local special circumstances: Peru is known for its rich biodiversity and traditional medicine practices. This has led to the development of a market for traditional herbal remedies, including analgesics. The use of traditional herbal analgesics is deeply rooted in Peruvian culture, and many consumers prefer these remedies due to their perceived effectiveness and cultural significance. As a result, the market for traditional herbal analgesics is thriving in Peru.
Underlying macroeconomic factors: The growing middle class in Peru is a significant driver of the development in the analgesics market. As disposable incomes rise, consumers have more purchasing power and are willing to spend on healthcare products, including analgesics. Additionally, the increasing urbanization in Peru has led to a higher demand for analgesics, as urban dwellers are more likely to seek medical treatment for pain relief. Furthermore, the aging population in Peru is contributing to the growth of the analgesics market. As the population ages, the prevalence of chronic pain conditions increases, leading to a higher demand for analgesics. This demographic trend is expected to continue in the coming years, further driving the growth of the market. In conclusion, the Analgesics (Pharmacies) market in Peru is experiencing growth and development due to customer preferences for pharmacy purchases, the increasing demand for OTC analgesics, the popularity of natural and herbal remedies, the thriving market for traditional herbal analgesics, and underlying macroeconomic factors such as the growing middle class and aging population.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
