Analgesics (Pharmacies) - Zimbabwe

Revenue in the Analgesics market is projected to reach US$28.19m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.40%, resulting in a market volume of US$27.64m 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$1.66 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.
For more information on the data displayed, use the info button next to the boxes.

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 Zimbabwe is experiencing steady growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Analgesics (Pharmacies) market in Zimbabwe are shifting towards more natural and herbal remedies. Customers are becoming increasingly conscious of the potential side effects of traditional analgesics and are seeking alternative options. This preference for natural remedies is driving the demand for herbal analgesics and creating opportunities for new players in the market. Trends in the Analgesics (Pharmacies) market in Zimbabwe include the rise of e-commerce and online pharmacies. With the increasing penetration of smartphones and internet connectivity, customers are increasingly turning to online platforms to purchase their analgesics. This trend is driven by the convenience and accessibility of online shopping, as well as the availability of a wider range of products. Online pharmacies are also able to offer competitive prices, further attracting customers away from traditional brick-and-mortar pharmacies. Local special circumstances in Zimbabwe, such as the high prevalence of chronic pain conditions and the limited availability of healthcare services, are contributing to the growth of the Analgesics (Pharmacies) market. Zimbabwe has a high burden of non-communicable diseases, including conditions that cause chronic pain such as arthritis and cancer. As a result, there is a constant demand for analgesics to manage these conditions. Additionally, the limited availability of healthcare services in some areas of the country makes pharmacies the primary source of healthcare for many Zimbabweans. Underlying macroeconomic factors, such as population growth and increasing disposable incomes, are also driving the growth of the Analgesics (Pharmacies) market in Zimbabwe. The country's population is growing steadily, resulting in a larger customer base for pharmacies. Furthermore, as disposable incomes increase, more people are able to afford analgesics and are willing to spend on healthcare products. In conclusion, the Analgesics (Pharmacies) market in Zimbabwe is developing in response to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards natural remedies, the rise of e-commerce, the high prevalence of chronic pain conditions, and population growth with increasing disposable incomes all contribute to the growth 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.

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.