Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in Romania has been experiencing steady growth in recent years.
Customer preferences: Romanian consumers have shown a growing preference for over-the-counter analgesics purchased from pharmacies. This can be attributed to several factors. Firstly, there is a high level of trust in the quality and efficacy of pharmaceutical products sold in pharmacies. Consumers believe that these products are more reliable and effective compared to those available in other retail channels. Additionally, pharmacies provide a convenient and accessible location for consumers to purchase analgesics, with many pharmacies operating extended hours and offering professional advice from pharmacists.
Trends in the market: One key trend in the Analgesics (Pharmacies) market in Romania is the increasing demand for natural and herbal analgesic products. Consumers are becoming more health-conscious and are seeking alternatives to traditional pain relief medications. This trend is driven by a desire for more natural and holistic approaches to healthcare. As a result, pharmacies are expanding their product offerings to include a wider range of natural and herbal analgesics to cater to this growing demand. Another trend in the market is the rising popularity of online pharmacies. With the increasing penetration of internet usage in Romania, more consumers are turning to online platforms to purchase their analgesics. Online pharmacies offer the convenience of home delivery and often provide competitive prices. This trend is expected to continue as consumers become more comfortable with online shopping and seek out the convenience it offers.
Local special circumstances: Romania has a relatively high prevalence of chronic pain conditions, such as arthritis and back pain. This has contributed to the steady demand for analgesics in the country. Additionally, the aging population in Romania is also driving the demand for analgesics, as older individuals are more likely to experience chronic pain and require regular pain relief medication.
Underlying macroeconomic factors: The growing economy in Romania has contributed to the development of the Analgesics (Pharmacies) market. As disposable incomes increase, consumers have more purchasing power to spend on healthcare products, including analgesics. Furthermore, the government's focus on improving healthcare infrastructure and access to medication has also supported the growth of the market. In conclusion, the Analgesics (Pharmacies) market in Romania is experiencing steady growth due to customer preferences for pharmacy-sold products, the increasing demand for natural and herbal analgesics, the rise of online pharmacies, the high prevalence of chronic pain conditions, and the country's growing economy. These factors are expected to continue driving the growth of the market in the coming years.
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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