Key regions: China, South Korea, Canada, India, France
The Analgesics (Pharmacies) market in Uruguay has been experiencing steady growth in recent years.
Customer preferences: Uruguayans have shown a growing preference for analgesics purchased from pharmacies rather than other retail channels. This is due to the perception that pharmacies offer a wider range of products and a higher level of expertise and advice from pharmacists. Additionally, the convenience of being able to purchase analgesics alongside other healthcare products and medications has also contributed to this preference.
Trends in the market: One of the key trends in the Analgesics (Pharmacies) market in Uruguay is the increasing demand for over-the-counter (OTC) analgesics. This can be attributed to several factors, including the rising awareness of self-care and the growing trend of self-medication. Consumers are becoming more proactive in managing their own health and are seeking accessible and affordable solutions for common ailments such as headaches and muscle pain. The availability of OTC analgesics in pharmacies has made it easier for consumers to access these products without the need for a prescription. Another trend in the market is the growing demand for natural and herbal analgesics. This is driven by the increasing awareness of the potential side effects and risks associated with long-term use of conventional analgesics. Consumers are seeking alternative options that are perceived to be safer and more natural. Pharmacies have responded to this demand by expanding their range of natural and herbal analgesics, offering consumers a wider choice of products.
Local special circumstances: Uruguay has a well-developed healthcare system, with a high level of access to pharmacies across the country. This has contributed to the growth of the Analgesics (Pharmacies) market, as consumers have easy access to these products. Furthermore, the presence of qualified pharmacists in pharmacies has helped to build trust and confidence among consumers, leading to increased sales of analgesics.
Underlying macroeconomic factors: Uruguay has experienced stable economic growth in recent years, which has had a positive impact on consumer spending power. As disposable incomes have increased, consumers have been able to allocate a larger portion of their budgets to healthcare and wellness products, including analgesics. Additionally, the aging population in Uruguay has also contributed to the growth of the Analgesics (Pharmacies) market, as older individuals are more likely to experience chronic pain and rely on analgesics for relief. In conclusion, the Analgesics (Pharmacies) market in Uruguay is developing due to customer preferences for pharmacy channels, the increasing demand for OTC and natural analgesics, the accessibility of pharmacies in the country, and the stable macroeconomic factors such as economic growth and an 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.
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