Analgesics (Pharmacies) - Saudi Arabia

Revenue in the Analgesics market is projected to reach US$164.10m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.08%, resulting in a market volume of US$191.00m 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$4.38 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 Saudi Arabia is experiencing steady growth due to several factors. Customer preferences for over-the-counter pain relief medications, combined with local special circumstances and underlying macroeconomic factors, are driving the development of this market. Customer preferences in Saudi Arabia are shifting towards self-medication and over-the-counter pain relief medications. This is largely due to the convenience and accessibility of these products in local pharmacies. Customers prefer to have control over their own healthcare and seek immediate relief from common ailments such as headaches, muscle aches, and menstrual pain. The availability of a wide range of analgesics in pharmacies allows customers to choose the product that best suits their needs. Additionally, the increasing awareness and acceptance of self-medication practices among the population further contribute to the growth of the Analgesics market in Saudi Arabia. Trends in the market show an increasing demand for analgesics with specific formulations and targeted effects. Customers are seeking products that provide fast and long-lasting relief, while also minimizing side effects. This has led to the development of innovative analgesic formulations, such as extended-release tablets and topical creams, that cater to these specific needs. Furthermore, there is a growing trend towards natural and herbal analgesics, as customers are becoming more conscious of the potential side effects of conventional medications. Manufacturers are responding to these trends by introducing products that are made from natural ingredients and have fewer side effects. Local special circumstances in Saudi Arabia also contribute to the development of the Analgesics market. The country has a young and growing population, with a high prevalence of chronic conditions such as obesity and diabetes. These conditions often result in chronic pain, which increases the demand for analgesics. Additionally, the hot climate in Saudi Arabia leads to a higher incidence of headaches and muscle aches, further driving the need for pain relief medications. The presence of a large number of pharmacies across the country ensures easy access to analgesics for the population. Underlying macroeconomic factors also play a role in the development of the Analgesics market in Saudi Arabia. The country has a strong economy and a high per capita income, which allows consumers to afford analgesics and other healthcare products. Additionally, the government's focus on healthcare and wellness initiatives, combined with the increasing investment in the pharmaceutical sector, further supports the growth of the market. The presence of international pharmaceutical companies in the country also contributes to the availability and variety of analgesics in the market. In conclusion, the Analgesics (Pharmacies) market in Saudi Arabia is developing due to customer preferences for over-the-counter pain relief medications, trends towards specific formulations and natural products, local special circumstances such as a young population and a high prevalence of chronic conditions, and underlying macroeconomic factors including a strong economy and government support for healthcare.

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.