Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in United Kingdom has been experiencing steady growth in recent years.
Customer preferences: Consumers in the United Kingdom have shown a growing preference for over-the-counter analgesics purchased from pharmacies. This can be attributed to the convenience and accessibility of pharmacies, as well as the trust that consumers have in the expertise of pharmacists. Additionally, the increasing awareness about self-care and the desire for quick relief from common ailments has also contributed to the popularity of analgesics in the market.
Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in United Kingdom is the growing demand for natural and herbal remedies. Consumers are becoming more conscious about the ingredients in the products they use and are seeking alternatives to traditional analgesics that may have side effects. As a result, pharmacies are now stocking a wider range of natural and herbal analgesics to cater to this demand. Another trend in the market is the rise in online sales of analgesics. With the increasing popularity of e-commerce, consumers are now opting to purchase their analgesics online for the convenience and competitive pricing. This trend has prompted pharmacies to establish their online presence and offer their products through digital platforms.
Local special circumstances: The National Health Service (NHS) in the United Kingdom plays a significant role in shaping the Analgesics (Pharmacies) market. The NHS provides free healthcare services to all residents, which includes access to prescription analgesics. However, due to the increasing strain on NHS resources, there has been a push towards self-care and reducing the reliance on prescription medications. This has led to a greater emphasis on over-the-counter analgesics, which are more cost-effective for both consumers and the healthcare system.
Underlying macroeconomic factors: The growing aging population in the United Kingdom is a key macroeconomic factor driving the growth of the Analgesics (Pharmacies) market. As people age, they are more prone to chronic pain and ailments that require regular analgesic use. This demographic shift has created a larger customer base for pharmacies, leading to increased sales of analgesics. Furthermore, the increasing disposable income of consumers in the United Kingdom has also contributed to the growth of the market. As people have more money to spend on healthcare and wellness products, they are willing to invest in analgesics to alleviate their pain and discomfort. In conclusion, the Analgesics (Pharmacies) market in United Kingdom is experiencing growth due to the preferences of consumers for over-the-counter analgesics from pharmacies, the trends of natural and herbal remedies, and the rise in online sales. The local special circumstance of the NHS promoting self-care and the underlying macroeconomic factors of an aging population and increasing disposable income further contribute to the development of the market.
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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